SANTA MONICA, Calif., July 17, 2019 (GLOBE NEWSWIRE) -- Gopher Protocol Inc. (OTC PINK: GOPH) ("Gopher”, or “the Company”), a company specializing in the development of Internet of Things (IoT) and Artificial Intelligence (AI) enabled networking and tracking technologies, including its GopherInsight™ global mesh network technology platform for both mobile and fixed solutions, announced that it is finalizing its reorganization. The Company will be renamed as “GBT Technologies, Inc.”. As outlined in previous announcements, GBT Technologies, S.A. (“GBT”), which the Company owns 25% of, is in the business of the strategic management of BPO (Business Process Outsourcing) digital communications processing for enterprises and startups; distributed ledger technology development, AI development and fintech software development and applications.
With the existing mutual investment between Gopher and GBT, the two companies intend to explore potentially combining the two companies’ market and technology coverage, and potentially rebranding the new platform as a global business.
As part of the process, Gopher will be implementing a 100:1 reverse split of its stock in an effort to maximize shareholder value. The goal of the corporate action is intended to attract more mainstream and institutional investors and potentially up-list to a more senior national or international exchange.
"We are excited to be able to potentially attract a more diverse investor base and a more global go-to-market and technology strategy,” said Douglas Davis, Gopher’s Chief Executive Officer. “We want to thank all of our shareholders who have supported us to date, and look forward to our future together.”
About Gopher Protocol Inc.
Gopher Protocol Inc. (OTC PINK: GOPH) (“Gopher”) (http://gopherprotocol.com/) is a development-stage company which considers itself a native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence (AI) enabled mobile technology platforms. Gopher has a portfolio of Intellectual Property that, when commercialized, will include smart microchips, mobile and security applications and protocols, and supporting cloud software. Gopher’s system envisions the creation of a global mesh network. The core of the system will be its advanced microchip technology that can be installed in any mobile or fixed device worldwide. Gopher envisions this system as a low-cost, secure, private mesh network between any enabled devices, providing shared processing, advanced mobile database management/sharing and enhanced mobile features as an alternative to traditional carrier services.
About GBT TECHNOLOGIES, S.A.
GBT Technologies, S.A., a private Costa Rican corporation (GBT - http://gbttechnologies.com/) is a development-stage company in the business of the strategic management of BPO (Business Process Outsourcing) digital communications processing for enterprises and startups; distributed ledger technology development, AI development and fintech software development and applications.
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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.
Doug Davis, CEO
Gopher Protocol Inc.