#Tech News: Gopher
Protocol's (OTCQB: $GOPH) Integration of ECS Pre-Paid #Software Platform
Generates Revenue
ECS Platform Generated Gross Revenue in Excess of
$13 million in the Second Quarter In 2018
Santa
Monica, CA - August 16, 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
Prepaid ("ECS"), have been fully integrated.
Read
this in full at http://www.investorideas.com/CO/GOPH/news/2018/08161ECS.asp
The
fintech division which includes primarily ECS and Ugopherservices
("UGO"), in the second quarter of 2018 did 1,134,725 transactions
from 9,855 terminals of which 9,604 were billable amounting to gross revenue of
$13,421,410 during the three-month period ending June 30, 2018 (unaudited).
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.
"The
UGO platform, which used third parties for processing transactions, is now
using the ECS platform reducing ACH transaction costs from $0.14 to $0.02,
which is expected to increase our profit margins. Our ECS platform was able to
generate gross margins of approximately 4% for the platform, amounting to more
than $500,000 in gross profits" stated 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 Gopher 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, Gopher 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:
Gopher Protocol Inc
Kevin Pickard, CFO
VM Only 888-685-7336
VM Only 888-685-7336
Source: Gopher Protocol Inc,
Gopher Protocol,
Inc. (OTCQB:GOPH) is a featured tech stock on
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