#Tech News: Gopher Protocol
Inc. (OTCQB: $GOPH) Acquires #Fintech Assets
Enhancing
Financial Services Portfolio
ATLANTA, GA - April 9, 2018 (Investorideas.com Newswire)
Gopher Protocol Inc. (OTCQB: GOPH) ("Gopher"), a technology company which specializes in the
creation of Internet of Things (IoT) and Artificial Intelligence (AI) enabled
mobile technologies, effective April 2, 2018 acquired certain assets from
Electronic Check Services Inc. ("ECS") and from Central State Legal
Inc. ("CSL").
The acquisition centers around a proprietary
software that:
·
Validates written check authenticity in real-time;
·
Scores risk associated with the acceptance of a
check; and
·
Generates automated response and follow up when a
check is returned unpaid.
By using this system, less than 2% of 50,000+/-
checks processed monthly have been returned unpaid. Utilizing the automated
follow up, 70% of that 2% fraction of checks were collected within the first 90
days.
CSL was developed to work with merchants and ECS to
recover funds from returned checks. CSL also acts as a second layer in the
"bad check" recovery process. ECS attempts recovery during the first
90 days following the return. After 90 days, CSL takes over the recovery
process. CSL has been able to recover funds on approximately 55% of all
returned checks within 90 days of taking over the delinquent account.
These assets acquisition is a complementary assets
acquired from ECS Prepaid LLC - https://backend.otcmarkets.com/otcapi/company/sec-filings/12638360/content/html The core asset of ECS is its processing software program, which
Gopher intends to combine into the prior acquisition of the UGO HUB and the UGO
brand of products.
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
manage 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).
"We believe these acquisitions will uniquely
position Gopher to establish our mesh network and connect with consumers. This
integration of technologies, may establish a platform that can provide
solutions that aren’t currently available from a single provider. I still need
some additional tools under my belt to present a comprehensive proprietary
product, but we continue to strive toward this goal" 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.
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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