Business
Gopher Protocol Exercises Mobiquity Technologies Warrants
Gopher Protocol Exercises Mobiquity Technologies Warrants.
About this update from Gbt Technologies Inc.
[{"type":"text","content":"\nNEW YORK, Nov. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Mobiquity Technologies, Inc. (OTCQB:MOBQ), a mobile location data intelligence company, and Gopher Protocol Inc. (OTCQB: 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, originally announced in September 2018 that the two companies had closed a share exchange agreement providing for ownership in each of the respective companies, and expected to pursue a strategic partnership with the goal of enhancing each other’s technology platforms, growth and revenue.\n Details of the equity transaction can be found on the link below: https://www.sec.gov/Archives/edgar/data/1471781/000161577418009230/s112546_8k.htm On November 19, 2018, GOPH converted 200 shares of the Series AAAA Preferred Stock of MOBQ into 20,000,000 restricted shares of common stock of MOBQ and 30,000,000 common stock purchase warrants (the “Warrants”), each exercisable for the purchase of one additional restricted share of MOBQ’s common stock. It is also understood, acknowledged and agreed that GOPH is exercising all of the 30,000,000 Warrants to purchase 30,000,000 restricted shares of common stock of MOBQ at an exercise price of $0.12 per share of common stock, payable through of the issuance to MOBQ of 10,000,000 fully paid and non-assessable restricted shares of common stock of GOPH. The companies intend to develop a strategic partnership.  The first step in moving towards a deeper partnership will start with a pilot project, which is expected to include the integration of the Mobiquity Passage platform into GOPH’s ECS Prepaid Platform. During the pilot, Mobiquity will also assist in marketing GOPH’s Insight™ microchip and software technology platform planned for 2019 by utilizing the Mobiquity ADvantage platform and Mobiquity’s SDK integrated with GOPH software applications for an enhanced combination of marketing and location services. “The synergies between our two companies for location services and digital 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 nume...