Gopher Protocol Inc (OTCMKTS:GOPH) Triggers Key Support on Crypto Update

Gopher Protocol Inc (OTCMKTS:GOPH) Triggers Key Support on Crypto Update

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In the category of former high fliers that have come back down to earth, but have also preserved a larger timeframe version of an upward trend, Gopher Protocol Inc (OTCMKTS:GOPH) meets all relevant criteria and may be a stock to watch following its strong hold of $1/share support last week. To build out the narrative and further connect up to the crypto theme, the company just announced that it is incorporating its gEYE security engine into its digital currency Technology Platform, the GRC.

According to the release, “With Gopher technology, when fully developed, the radio-based coin will provide that each transaction, called a block, is recorded. A Blockchain is a continuously growing list of transactions (Blocks). The validity of each GRC coin is provided by a Blockchain. The blocks are linked and secured together using cryptography. gEYE security system was developed to secure complex data and Gopher is in process to retrofit gEYE to secure Gopher GRC.”

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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As noted above, the stock has been pulling back, but just apparently found some strong support at a key level. We are also seeing a growing influx of trading interest, with the stock’s recent average trading volume running 16% beyond its prior sustained average level. It pays to take note of this fact due to the very limited float size in the stock (of 19 million shares).

“We developed our gEYE advanced security system with the goal of securing our broad range of technologies. Among them are our GEO location system, Avant! AI and database sharing,” stated Dr. Danny Rittman, Gopher CTO. “Now, as we gear up to present GRC, we will add another branch to our gEYE system with the goal of securing the digital coin, to ensure hacking-free transactions for the benefit of the users. As digital currency is vulnerable to cyber theft, we are investing significant efforts to protect this aspect of our technology. We are creating a dedicated module within our gEYE, specially designated for digital coin security,” added Dr. Rittman.

At this time, carrying a capital value in the market of $191.4M, GOPH has a reserve ($895K) of cash on the books, which is balanced by 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 may be a very interesting story and we will look forward to updating it again soon. 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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