Gopher Protocol Inc.
(OTCQB: $GOPH) Closes Growth Financing
ATLANTA,
GA - March 28, 2018 (Investorideas.com Newswire) Gopher Protocol Inc.
(OTCQB: GOPH) ("Gopher"), a development-stage
company which specializes in the creation of Internet of Things (IoT) and
Artificial Intelligence enabled mobile technologies, announced the closing of
the sale of common stock and common stock purchase warrants, which generated
$500,000 in proceeds. The details on the funding can be found in the Company’s
Form 8-K/A filed March 23, 2018 -https://backend.otcmarkets.com/otcapi/company/sec-filings/12640521/content/html.
Read this news in
full at http://www.investorideas.com/CO/GOPH/news/2018/03281Financing.asp
The
financing is continuation of the Company’s strategy to reduce its dependence on
variable priced convertible note financing and create a balance sheet that
gives investors clarity regarding the number of shares outstanding and
potential dilution. The investor that participated in this financing previously
loaned the Company capital in consideration of convertible notes. This
financing included an equity raise generating in total to date gross proceeds
of $1.5 million as well as the conversion of previously issues convertible
notes into common stock.
Greg
Bauer, CEO of Gopher, said, “Since the acquisition of the UGO assets and
successful closing of an equity financing in December 2017, including our
latest acquisition of ECS Assets, Gopher’s Board of Directors believe it is
well positioned to eventually seek to list on a National Exchange. To assist in
the process, Gopher engaged Donohoe Advisory Associates LLC to advise and
assist in the up-listing effort. There is no guarantee that these efforts will
be successful or that Donohoe Advisory will recommend to Gopher to pursue any
particular avenue for exchange listing.” Mr. Bauer summarizes, “We are moving
at a significant pace as we continue to develop our sales channels through
acquisitions as well as advance our products which include GPS tracking,
drones, a MESH network technology for use in autonomous driving tracking,
Artificial intelligence and IoT. We anticipate Gopher’s technology can be
implemented in everyday life and we envision unlimited applications for our
core technology. While accelerating our growth through strategic partnerships
and acquisitions, we believe it makes sense for our shareholders to explore
uplisting, which in turn may provide additional access to capital.”
About Donohoe Advisory
Donohoe
Advisory – www.donohoeadvisory.com Donohoe
Advisory Associates LLC help companies go public, get listed, stay listed and
structure financing and acquisition transactions. Provide consulting and
advisory services to companies and law firms. In that regard, they have
relationships with most of the largest law firms in the country. They represent
more companies in listing-related matters than any other firm in the country.
Expertise in the field is the core of Donohoe Advisory, formed in 2004 by David
A. Donohoe, Jr., former Chief Counsel for the Listing Qualifications Department
of The NASDAQ Stock Market. Their qualifications are unmatched. They have many
years of experience as exchange officials. Further, since forming Donohoe
Advisory in 2004, they have advised hundreds of companies and law firms in
listing related engagements.
About Gopher Protocol Inc.
Gopher Protocol Inc. (OTCQB: GOPH) (“Gopher”) (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.
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.
The Guardian Pet Tracker
(Sphere Internal name - the "Sphere") system is a derivative
technology of Gopher's Guardian Patch technology. The Sphere is designed to
provide its users with local tracking capability using a
re-chargeable/replaceable battery source. Gopher intends to release
pre-production units in limited test in the near future.
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
Gopher Protocol Inc.
VM Only 888-685-7336
Gopher Protocol,
Inc. (OTCQB:GOPH) is a featured tech stock on
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