#Tech News: Gopher Protocol
(OTCQB: $GOPH) Continues Integration of ECS Software Platform
With Continued
Growth ECS Generated Gross Revenue in Excess of $24 million Year to Date in
2018
SANTA
MONICA, CA - June 26, 2018 (Investorideas.com Newswire) Gopher Protocol Inc. (OTCQB: GOPH)
("Gopher"), a company specializing in the creation of Internet of
Things (IoT) and Artificial Intelligence enabled mobile technologies, is
pleased to announce that its recent acquisitions, which now comprise its
fintech division, led by ECS, have been fully integrated.
ECS,
since the beginning of 2018 (cumulative through last week) did 2,274,195
transactions from 21,729 terminals of which 1,399,975 were billable amounting
to gross revenue of $24,863,692 (unaudited).
Looking
at the comparable 90 day period in 2017, ECS Prepaid had $7.5 million
(unaudited) in revenue while processing 813,000 transactions over an average of
5,300 locations. ECS Prepaid's revenue for the 90 days just prior to being
acquired by Gopher was $8.5 million (unaudited) while processing 859,400
transactions. For the 90 day period post acquisition by Gopher, ECS Prepaid's
revenue was $13.3 million (unaudited) while processing over 1.1 million
transactions, resulting in an increase in revenue of 77% over the comparable
period in 2017. Gopher intends to continue this pattern with recent agreements
for processing alignments, the addition of AT&T SIM Activation program, and
increased product margins on existing core products.
"ECS
Prepaid would be able to operate the ‘UGO doors' with little impact to our
current work flow with the addition of one new employee in the Springfield's
office for technical support" said Derron Winfrey, Gopher's COO. "The
UGO platform, which used third parties for processing transactions, will now
use the ECS platform reducing ACH transaction costs from $0.14 to $0.02, which
is expected to increase our profit margins" added Kevin Pickard, Gopher's
CFO.
As
a reminder on March 16, 2018, Gopher entered into and closed an Asset Purchase
Agreement dated March 1, 2018 (the "ECS Purchase Agreement") with ECS
Prepaid LLC ("ECS"), a Missouri limited liability company, pursuant
to which the Company purchased certain assets from ECS, including, but not
limited to, the processing prepaid platform, servers, POS terminals, customer
list, a processing software program and goodwill - https://www.sec.gov/Archives/edgar/data/1471781/000161577418004520/s110476_8ka.htm
As
required by law, the Company filed two years audited financials of said
Platform - https://www.sec.gov/Archives/edgar/data/1471781/000161577418004520/s110476_ex99-1.htm as well as
Pro-Forma consolidated financials - https://www.sec.gov/Archives/edgar/data/1471781/000161577418004520/s110476_ex99-2.htm
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, governmental and public policy changes, the
Company’s ability to raise capital on acceptable terms, if at all, the
Company’s successful development of its products and the integration into its
existing products and the commercial acceptance of the Company’s
products. 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:
Kevin Pickard, CFO
Gopher Protocol Inc.
VM Only 888-685-7336
Gopher Protocol Inc.
VM Only 888-685-7336
Source: Gopher Protocol Inc,
Gopher Protocol,
Inc. (OTCQB:GOPH) is a featured tech stock on
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