Business
hopTo Inc. Announces Second Quarter 2017 Business Update and Results
hopTo Inc. Announces Second Quarter 2017 Business Update and Results.
About this update from Hopto Inc.
[{"type":"text","content":"\n \n \n hopTo Inc. Announces Second Quarter 2017 Business Update and Results\n \n \nhopTo Inc. Announces Second Quarter 2017 Business Update and Results\n \n CONCORD, NH--(Marketwired - Aug 14, 2017) -  hopTo Inc. (OTCQB: HPTO), developer and provider of application publishing and mobile productivity software, today announced its financial results for the second quarter ended June 30, 2017. \n Second Quarter 2017 Financial Update:\n \n \n Revenue of $925 thousand\n \nNet Loss of $13 thousand\n \nBasic and diluted loss per share of $0.00 \n \n \n Second Quarter 2017 Operational Summary and Business Update\n \"In the second quarter of 2017, hopTo has continued efforts to reduce overhead expenses while dedicating as much resource as possible to support our GO-Global customers and improve the GO-Global products and services\" stated Jean-Louis Casabonne, interim CEO of hopTo inc.\n \"The GO-Global business continues to generate positive cash flow and remains an important aspect of the 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. Early in the Second Quarter, we entered into a sublease of our remaining office space in Campbell and will derive additional expense savings and positive cash flow from this transaction. We are now operating with our Concord, New Hampshire office as our headquarters.\"\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. Shareholders should not place any significant reliance on the outcome of such efforts unless and until definitive agreements are reached. Our Annual Report on Form 10-K that was filed with the SEC on April 7, 2017 included additional new risk factors in this regard. We intend to continue to manage our expenses to preserve as many opportunities for the company as reasonably possible. In particular, we will seek to preserve resources to enable the continued operation and customer support of our GO-Global business, which we believe is achievable given the positive cash flow profile of that business.\"\n Results for the First Six Months Ended June 30, 2017\n Total revenue for the six months of Fiscal Year 2017 was $1.90 million, a decre...