#Tech News: #GopherProtocol
Inc. (OTCQB: $GOPH) Acquires Assets from ECS Prepaid LLC in a Multi Million
Dollars Transaction
ATLANTA,
GA - March 22, 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, effective March 1, 2018
acquired certain assets from ECS Prepaid LLC ("ECS"), including, but
not limited to, the processing prepaid platform, servers, POS terminals,
customer list, a processing software program and goodwill. 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.
ECS
PrePaid's core operating system currently operates over 9,000 terminals in
retail locations throughout the United States. These terminals process over
14,000 transactions a day and have capacity to entertain at least three times
its current volume, without further software expense. This platform generated
approximately $32 million in revenue for the year ended December 31, 2017
(unaudited), approximately $4.2 million for the month of January 2018
(unaudited) and approximately $4.3 for the month of February 2018 (unaudited).
In
total, Gopher paid $1.2 million in cash, note and employment signing bonuses,
issued 2,000,000 shares of common stock and 3,000,000 warrants to purchase
shares of common stock for a period of five years at a fixed exercise price of
$1.85 per share.
"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.
About ECS Prepaid LLC.
Formed
in 2008, ECS Prepaid LLC. (www.ecsprepaid.com) was started and fueled by the
desire to create a Prepaid Wireless distribution model built to cater to
Independent Sales Organizations servicing the gas station, convenience store
market. ECS Prepaid is a two time "INC 500 Fastest Growing Companies"
in the US, with a high ranking of 64th.
Starting
with just a few hundred direct retail locations, ECS Prepaid quickly grew its
customer base by providing one of the most comprehensive terminal solution
available. Today ECS Prepaid supports over 100 independent agents while
powering roughly 9,000 retail locations across the United States.
The
ECS Prepaid software platform provides the ability to bring a variety of
services to even the smallest retailer. Products currently available include: Prepaid
Wireless, SIM Activations, International Top Up, Private Label Gift Cards,
Electronic Check Processing, Customer Loyalty and Rewards programs.
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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