Business
hopTo Inc. Announces Second Quarter 2016 Business Update and Results
hopTo Inc. Announces Second Quarter 2016 Business Update and Results.
About this update from Hopto Inc.
[{"type":"text","content":"\n \n \n hopTo Inc. Announces Second Quarter 2016 Business Update and Results\n \n \nhopTo Inc. Announces Second Quarter 2016 Business Update and Results\n \n CAMPBELL, CA--(Marketwired - Aug 15, 2016) - hopTo Inc. (OTCQB: HPTO), developer and provider of the most comprehensive mobile productivity platform, today announced its financial results for the second quarter ended June 30, 2016. \n Second Quarter 2016 Financial Update:\n \n \n Revenue of $959 thousand\n \nNet Loss of $437 thousand\n \nBasic and diluted loss per share of $0.04\n \n \n Second Quarter 2016 Operational Summary and Business Update\n \"At the start of the second quarter, the hopTo team was optimistic that our continuing efforts to deeply integrate our hopTo Work product with Citrix® HDX under the aegis of Project Mobilis would lead to the revenue traction that could produce meaningful revenue for the company and our shareholders,\" stated Eldad Eilam, President and CEO of hopTo Inc. \"Unfortunately, that revenue traction, as well as other opportunities we were actively pursuing, has not been realized.\"\n \"During most of the second quarter we received both technical and go to market support from Citrix which culminated in a positive experience for the hopTo Work HDX integration and MAX-IE at the Citrix Synergy conference. We were recognized as a finalist for New Technology in the Best of Synergy contest. Despite continued positive feedback from prospective customers, channel partners, and industry experts, our HDX integration has not been completed due to delays in certain bug fixes and other issues involving the Citrix HDX SDK which were beyond our control.\"\n \"We have been developing our hopTo family of products since 2012 and have released several versions of hopTo Work. We believe that we have provided a unique solution for a problem that has been acknowledged as a significant market opportunity, and we have received recognition from independent industry experts, prospective customers and partners that our solution to the problem is unique and has value.\"\n \"However, the market for products such as hopTo Work is still in its early stages and despite our best efforts to date with our limited resources we have not been able to gain sufficient market traction to generate meaningful revenue from our hopTo products. We have determ...