Business
hopTo Inc. Announces First Quarter 2017 Financial Results
hopTo Inc. Announces First Quarter 2017 Financial Results.
About this update from Hopto Inc.
[{"type":"text","content":"\n \n \n hopTo Inc. Announces First Quarter 2017 Financial Results\n \n \nhopTo Inc. Announces First Quarter 2017 Financial Results\n \n CAMPBELL, CA--(Marketwired - May 23, 2017) - hopTo Inc. (OTCQB: HPTO), developer and provider of application publishing and mobile productivity software today announced its financial results for the year ended March 31, 2017. \n First Quarter 2017 Financial Update:\n \n \n Revenue of $0.98 million \n \nNet Loss of $0.15 million   \n \nBasic and diluted loss per share of $0.02    \n \n \n First Quarter 2017 Operational Summary and Business Update\n \"Throughout the first quarter, we have continued our efforts to extract value from the intellectual property and software that we have developed while taking additional steps to further reduce expenses,\" stated Eldad Eilam, President and CEO of hopTo Inc. \n \"Our GO-Global business continues to generate positive cash flow and remains an important aspect of our overall company. We continue to believe that the GO-Global business will operate profitably in the future. We are also evaluating opportunities related to GO-Global. Additionally, early in the Second Quarter, we entered into a sublease for our remaining office space in Campbell and will derive additional expense savings and positive cash flow from this transaction.\"\n \"Although we continue to believe that we may have opportunities to extract value from our hopTo and GO-Global assets, there are significant risks and uncertainties associated with those efforts. Our Annual Report on Form 10-K that was filed with the SEC on April 7, 2017 included discussion of such opportunities and additional new risk factors in this regard. Shareholders should not place any significant reliance on the outcome of such efforts. In addition, although our GO-Global business continues to generate cash, due to our conclusion that it is unlikely we will generate revenue from hopTo Work in the reasonably foreseeable future, our Annual Report included disclosure regarding our determination that there are substantial doubts about our ability to continue as a going concern. We nevertheless intend to further manage our expenses to preserve as many opportunities for the company as reasonably possible. In particular, we will seek to preserve resources to enab...