Gopher Protocol (OTCQB:
$GOPH) Closes Growth Financing; Financing Generates $1 Million in Capital
ATLANTA,
GA - January 2, 2018 (Investorideas.com Newswire) Gopher Protocol Inc. (OTCQB: GOPH)
("Gopher" or the "Company"), a company specializing in the
creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile
technologies, announced a closing of the sale of common stock and a common
stock purchase warrants, which generated $1 million in proceeds. The details on
the funding can be found in the Company's Form 8-K from today.
The
financing is part of the Company's strategy to reduce its dependence on
convertible note financing and create a balance sheet that gives investors clarity
regarding the number of shares outstanding and potential dilution caused by
convertible note financing.
Read this news in
full at http://www.investorideas.com/CO/GOPH/news/2018/01021Financing.asp
The
investor that participated in this financing previously loaned the Company
capital in consideration of convertible notes. This financing included an
equity raise generating gross proceeds of $1million and the conversion of
previously issues convertible notes into common stock as well as commitment,
under certain terms, for of an additional financing of $500,000 potentially
bringing the total raise to 1.5 million. The additional capital was in exchange
of restricted common shares and a leak-out agreement. This transaction
represents $0.75 for restricted share.
"The
Company is pleased to be on a great track financially, it should be a very
positive signal to the market that a private accreditor investor has made the
transition from being a lender to a long term equity investor" stated Greg
Bauer, CEO.
Gopher
Protocol has made a concerted effort to de-lever its balance and add
shareholder equity to the balance sheet. The Company enters 2018 with less
debt, and $1 million available to fund its technology platform.
About Gopher Protocol Inc.
Gopher
Protocol Inc. (OTCQB: GOPH) ("Gopher" and the "Company") (http://gopherprotocol.com/) is a development-stage
company which consider itself 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.
Corporate
Site: http://gopherprotocol.com
Press
page/ press kit - http://gopherprotocol.com/?page_id=228
Consumer
and product website for Guardian Patch:
GOPH disclosure:
More info: SEC link
/technology abstract:
Forward-Looking
Statements
Certain
statements contained in this press release may constitute "forward-looking
statements". Forward-looking statements provide current expectations of
future events based on certain assumptions and include any statement that does
not directly relate to any historical or current fact. Actual results may
differ materially from those indicated by such forward-looking statements as a
result of various important factors as disclosed in our filings with the
Securities and Exchange Commission located at their website
(http://www.sec.gov). In addition to these factors, actual future performance,
outcomes, and results may differ materially because of more general factors
including (without limitation) general industry and market conditions and
growth rates, economic conditions, and governmental and public policy changes.
The forward-looking statements included in this press release represent the
Company's views as of the date of this press release and these views could
change. However, while the Company may elect to update these forward-looking
statements at some point in the future, the Company specifically disclaims any
obligation to do so. These forward-looking statements should not be relied upon
as representing the Company's views as of any date subsequent to the date of
the press release.
Contact:
Greg Bauer, CEO
Gopher Protocol, Inc.
VM Only 888-685-7336
Media: press@gopherprotocol.com
Gopher Protocol, Inc.
VM Only 888-685-7336
Media: press@gopherprotocol.com
More info on GOPH at Investorideas.com Visit: http://www.investorideas.com/CO/GOPH/
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