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.
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. The Company 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.
Corporate Site: http://gopherprotocol.com
Press page/ press kit - http://gopherprotocol.com/?page_id=228
Consumer and product website for Guardian Patch: http://www.guardianpatch.com/.
About Guardian Pet Tracker http://www.guardianpettracker.com/
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.
GOPH disclosure: More info: SEC link /technology abstract:
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.
Greg Bauer, CEO
Gopher Protocol Inc.
VM Only 888-685-7336
SOURCE: Gopher Protocol Inc.
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