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Gopher Protocol Inc (OTCMKTS:GOPH) Answers the Bears with a Blockchain Move

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A stock that has been in a steep corrective wave, but still retaining “buzz potential” and a tight float is Gopher Protocol Inc (OTCMKTS:GOPH). And that sense of buzz potential may be amplified after the company’s latest news.

To wit: the company just announced that it has launched a blockchain division to support and extend its multiple technology efforts. According to the release, “The blockchain division will focus on the use of blockchain solutions to manage multiple lines of business and operate them with “distributed ledger” blockchain technology (DLT) as the underlying technology.”

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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Traders will note -20% stripped out of share values of the stock over the past week of action, extending the context of a larger bearish trend over the past couple months. In addition, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running 21% over the long run average. It pays to take note of this fact given the stock’s very limited trading float of just 8.5 million shares.

“We believe a business model combining blockchain with Gopher’s already developed network technologies provides promise to the IoT (Internet of Things) industry and that our expertise in AI and IoT will provide us with the ability to enter this industry with a focus on the tokenization of tangible assets as well as other groundbreaking capabilities that can be achieved through the utilization of blockchain technology,” stated Dr. Danny Rittman, CTO of Gopher.

Now commanding a market cap of $252.7M, GOPH has a store ($895K) of cash on the books, which compares with about $1.1M in total current liabilities. One should also note that debt has been growing over recent quarters. GOPH is pulling in trailing 12-month revenues of $17.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 17465.8%. 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.

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