Los Angeles, CA - May 11, 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, announced the signing of an equity financing for $2 million dollars with the initial $500,000 funded. The details on the funding can be found in the Company's Form 8-K - https://www.sec.gov/Archives/edgar/data/1471781/000161577418003443/0001615774-18-003443-index.htm
The financing was provided by an investor that has participated in numerous financings in the past, a strong indicator that internal support for Gopher is growing.
"We are excited about the fact that we are now attracting fundamentally driven equity investments that support the business and enhance shareholder value and clarity" stated Kevin Pickard, Gopher's CFO. "The fact that management can spend less time seeking capital and can focus on its rollout of its numerous technologies, we believe indicates a bright future for Gopher" he continued.
The proceeds of the financing will be used to continue funding the deep technology portfolio that Gopher has built over the years. With numerous products on the cusp of commercialization, Gopher's R&D expenses have notch slightly higher. Gopher will also use part of the proceeds to cover some incremental operating costs attributable to the recent acquisition activity.
About Gopher Protocol Inc.
Gopher Protocol Inc. (OTCQB: GOPH) ("Gopher" and the "Company") (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:
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:
Kevin Pickard, CFO
Gopher Protocol Inc.
VM Only 888-685-7336
Media: press@gopherprotocol.com
SOURCE: Gopher Protocol Inc.
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