Intend to Pursue Partnership to Enhance Technologies and Growth
NEW YORK, NY, Sept. 11, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Mobiquity Technologies, Inc. (MOBQ), a mobile location data intelligence company, and Gopher Protocol Inc. (GOPH) ("Gopher”), a company specializing in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, including a global platform with both mobile and fixed solutions, announced they have closed a share exchange agreement providing for ownership in each of the respective companies and now expect to pursue a strategic partnership with the goal of enhancing each other’s technologies, growth and sales.
Details of the equity transaction can be found on the link below: https://www.sec.gov/Archives/edgar/data/1471781/000161577418009230/s112546_8k.htm
With numerous opportunities for working together, the parties intend to develop a strategic partnership. The first steps in moving towards a deeper partnership will initiate with a pilot project, which is expected to include the integration of the Mobiquity Passage platform into the ECS Prepaid Platform. The ECS Prepaid Platform booked 1,134,725 transactions from 9,855 terminals amounting to gross revenue of approximately $13.4 million during the three-month period ending June 30, 2018 (unaudited). https://www.otcmarkets.com/stock/GOPH/news/Gopher-Protocols-Integration-of-ECS-Pre-Paid-Software-Platform-Generates-Revenue?id=201172. During the pilot, Mobiquity will also assist in marketing the GopherInsight Microchips technology by utilizing the Mobiquity ADvantage platform and utilizing Mobiquity’s SDK inside Gopher affiliated apps for enhanced marketing and location services. The parties will also utilize each company’s resources and people on future products and joint ventures, which for example, may involve Mobiquity promoting and distributing Gopher’s GuardianPack mobile applications through its Passage and ADvantage platforms.
“The synergies between our two companies for location services and marketing is what makes this planned strategic partnership unique and we expect will prove to be advantageous for both companies. We see our teams working together on numerous current and future projects,” said Douglas Davis, Gopher’s CEO.
Dean Julia, Mobiquity Technologies’ CEO, said “After a long period of due diligence and negotiations, we see this strategic partnership as a near and long-term growth opportunity for both companies. We also look forward to working more closely with the entire Gopher team.”
About Mobiquity Technologies, Inc. (www.mobiquitynetworks.com)
Mobiquity Technologies, Inc. (MOBQ), is a next generation mobile location data intelligence and marketing company. The company provides precise, unique, at-scale location data and insights on consumer’s real-world behavior and trends for use in marketing and research. With our combined exclusive data sets and proprietary technology platform; Mobiquity Technologies provides one of the most accurate and scaled solution for mobile data collection and analysis.
About Gopher Protocol (http://gopherprotocol.com )
Gopher Protocol Inc. (GOPH) (“Gopher”) is a development-stage company which considers itself a 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.
About ECS Prepaid LLC (https://www.ecsprepaid.com )
Formed in 2008, ECS Prepaid LLC 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.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
Certain statements in this press release constitute “forward‐looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements express or implied by such forward‐looking statements. The forward‐looking statements are subject to risks and uncertainties including, without limitation, changes of competition, possible loss of customers, and the company’s ability to attract and retain key personnel.