Business
Gopher Protocol Files Audited Financials Showing $66 Million in Sales for FYE Ended January 2017
Gopher Protocol Files Audited Financials Showing $66 Million in Sales for FYE Ended January 2017.
About this update from Gbt Technologies Inc.
[{"type":"text","content":"\n\n ATLANTA, GA, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Gopher Protocol Inc. (OTCQB: GOPH) (\"Gopher\" and the \"Company\"), a company which specializes in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, filed a Form 8-K/A that includes 2 years audited financials for the assets purchased on September 1, 2017 - https://www.sec.gov/Archives/edgar/data/1471781/000161577417007085/0001615774-17-007085-index.htm\n This filing sheds light on the Company’s grand strategy to “marry” the two arms of the Company – IoT and Artificial Intelligence enabled mobile technologies together with the UGO HUB - sale of phones and phone cards products, which comprised of PINS for cell minutes, SIM cards for cell minutes, as well as gift cards, through approximately 15,000 locations in the United States. The Company strategy includes creating and delivering a suite of Internet of Things (IoT) technologies that ultimately increase quality of life for all of the consumers that are within the network that is being built. With a firm belief that these technologies are going to become ubiquitous – Gopher intends to sell and support connectivity in the IoT in a way that is consumer friendly.  Gopher believes that connectivity doesn’t need to increase costs to the end user. In addition, Gopher believes that technology should serve the user and deliver a benefit without disrupting the consumer’s daily lives. In yesterday’s filing, the pro-forma financials respectively illustrate Sales for six months ended June 30, 2017 and for the year ended December 31, 2016 of $28,108,616 and $66,775,847; Gross Profit of $1,408,597 and $3,278,144; Net Loss of ($1,768,952) and ($2,028,608), which includes acquisition costs based on pro-forma and basic and diluted earnings per share of ($0.04) and ($0.08), respectively. The audited financial statements of the division stands alone for the period ended on August 28, 2017 (period prior to the closing) report revenue of $32,329,172 with gross profit of $1,521,458 and net loss for the period of $170,636. As reported in November 2017, Gopher experienced the loss the services of TIO Networks, a subsidiary of Paypal Holdings Inc. (“Paypal”), as reported on November 13, 2017 https://www.otcmarkets.com/edgar/GetFilingPdf?Filin...