Gopher Protocol Inc (OTCMKTS:GOPH) has been working very hard to break higher in recent action, with shares pushing above its early March highs to close out this past week on a clear swell in trading volume. This marks a continuation of the stock’s run off its February pivot lows just above the $1/share level, capping a run of as much as 165% in the past two months.
Aiding the stock’s upward energy, the company just announced that it acquired “certain assets from ECS Prepaid LLC, including, but not limited to, the processing prepaid platform, servers, POS terminals, customer list, a processing software program and goodwill.” The acquisition appears to be intended to help the company position itself for further establishment of its mesh network as well as to attack the niche left by PayPal’s shift out of the space late last year.
Gopher Protocol Inc (OTCMKTS:GOPH) casts itself as a development-stage Native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence enabled mobile technology.
The Company has a portfolio of Intellectual Property that when commercialized will include smart microchips, mobile application software and supporting cloud software. The system contemplates the creation of a global network. The core of the system will be its advanced microchip technology that can be installed in any mobile device worldwide.
Gopher envisions this system as an internal, private network between all enabled mobile devices providing shared processing, advanced mobile database management/sharing and enhanced mobile features.
Moreover, Gopher Protocol Inc. engages in the process of developing a real-time, heuristic-based, mobile technology. Its technology consists of a smart microchip, mobile application software, and supporting software. The company was formerly known as Forex International Trading Corp. and changed its name to Gopher Protocol Inc. in February 2015. Gopher Protocol Inc. was founded in 2009 and is headquartered in Santa Monica, California.
According to its press communications, “Gopher Protocol Inc. (OTCQB: GOPH) (“Gopher”) (http://gopherprotocol.com/) is a development-stage company which considers itself Native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence enabled mobile technology. Gopher has a portfolio of Intellectual Property that when commercialized will include smart microchips, mobile application software and supporting cloud software. The system contemplates the creation of a global network. The core of the system will be its advanced microchip technology that can be installed in any mobile device worldwide. Gopher envisions this system as an internal, private network between all enabled mobile devices providing shared processing, advanced mobile database management/sharing and enhanced mobile features.”
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The listing has seen interest climb in recent action, with an increase in recent trading volume of just shy of 120% above the average volume levels in play in this stock over the longer term. Traders should note this as important due to the extremely small float size in the stock (of 8.5 million shares).
According to the company’s most recent release, “the core asset of ECS is its processing software program, which Gopher intends to marry immediately into the prior acquisition of the UGO HUB and the UGO brand of products. Following its September 2017 acquisition of the UGO assets from RWJ Advanced Marketing, Gopher has been focused on integrating these assets into its operations. Gopher intends to upgrade the designated website for the brand, which is currently located at http://www.myugoonline.info/. The coupling of the UGO and ECS assets will allow Gopher to “in house” process all of its PIN and financial products and will eliminate any dependency upon third parties for processing services allowing Gopher to curate and distribute a faster time to market.”
“We believe this acquisition will uniquely position Gopher to establish our mesh network and connect with consumers. In addition, it allows us to fill a void in the market created by Pay-Pal’s abrupt termination of their services in November 2017” stated Gopher CEO Greg Bauer.
At this time, carrying a capital value in the market of $290.6M, GOPH has virtually no cash on the books, which compares with virtually no total current liabilities. One should also note that debt has been growing over recent quarters. GOPH is pulling in trailing 12-month revenues of $4.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 9836.9%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $GOPH stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $GOPH, either long or short, and we have not been compensated for this article.