ATLANTA, GA, March 22, 2018 (GLOBE NEWSWIRE) -- GOPHER PROTOCOL INC. (OTCQB: GOPH) ("Gopher"), a development-stage company which specializes in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, effective March 1, 2018 acquired certain assets from ECS Prepaid LLC (“ECS”), including, but not limited to, the processing prepaid platform, servers, POS terminals, customer list, a processing software program and goodwill. The core asset of ECS is its processing software program, which Gopher intends to marry immediately into the prior acquisition of the UGO HUB and the UGO brand of products. Following its September 2017 acquisition of the UGO assets from RWJ Advanced Marketing, Gopher has been focused on integrating these assets into its operations. Gopher intends to upgrade the designated website for the brand, which is currently located at http://www.myugoonline.info/. The coupling of the UGO and ECS assets will allow Gopher to “in house” process all of its PIN and financial products and will eliminate any dependency upon third parties for processing services allowing Gopher to curate and distribute a faster time to market.
ECS PrePaid’s core operating system currently operates over 9,000 terminals in retail locations throughout the United States. These terminals process over 14,000 transactions a day and have capacity to entertain at least three times its current volume, without further software expense. This platform generated approximately $32 million in revenue for the year ended December 31, 2017 (unaudited), approximately $4.2 million for the month of January 2018 (unaudited) and approximately $4.3 for the month of February 2018 (unaudited).
In total, Gopher paid $1.2 million in cash, note and employment signing bonuses, issued 2,000,000 shares of common stock and 3,000,000 warrants to purchase shares of common stock for a period of five years at a fixed exercise price of $1.85 per share.
“We believe this acquisition will uniquely position Gopher to establish our mesh network and connect with consumers. In addition, it allows us to fill a void in the market created by Pay-Pal’s abrupt termination of their services in November 2017” stated Gopher CEO Greg Bauer.
About ECS Prepaid LLC.
Formed in 2008, ECS Prepaid LLC. (www.ecsprepaid.com) was started and fueled by the desire to create a Prepaid Wireless distribution model built to cater to Independent Sales Organizations servicing the gas station, convenience store market. ECS Prepaid is a two time “INC 500 Fastest Growing Companies” in the US, with a high ranking of 64th.
Starting with just a few hundred direct retail locations, ECS Prepaid quickly grew its customer base by providing one of the most comprehensive terminal solution available. Today ECS Prepaid supports over 100 independent agents while powering roughly 9,000 retail locations across the United States.
The ECS Prepaid software platform provides the ability to bring a variety of services to even the smallest retailer. Products currently available include: Prepaid Wireless, SIM Activations, International Top Up, Private Label Gift Cards, Electronic Check Processing, Customer Loyalty and Rewards programs.
About Gopher Protocol Inc.
Gopher Protocol Inc. (OTCQB: GOPH) (“Gopher” and the "Company") (http://gopherprotocol.com/) is a development-stage company which consider itself Native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence enabled mobile technology. The Company has a portfolio of Intellectual Property that when commercialized will include smart microchips, mobile application software and supporting cloud software. The system contemplates the creation of a global network. The core of the system will be it’s advanced microchip technology that can be installed in any mobile device worldwide. Gopher envisions this system as an internal, private network between all enabled mobile devices providing shared processing, advanced mobile database management/sharing and enhanced mobile features.
Corporate Site: http://gopherprotocol.com
Press page/ press kit - http://gopherprotocol.com/?page_id=228
Consumer and product website for Guardian Patch: http://www.guardianpatch.com/.
About Guardian Pet Tracker http://www.guardianpettracker.com/
The Guardian Pet Tracker (Sphere Internal name - the "Sphere") system is a derivative technology of Gopher's Guardian Patch technology. The Sphere is designed to provide its users with local tracking capability using a re-chargeable/replaceable battery source. Gopher intends to release pre-production units in limited test in the near future.
GOPH disclosure: More info: SEC link /technology abstract:
Certain statements contained in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
Contact: Gopher Protocol Inc. Greg Bauer, CEO VM Only - 888-685-7336 Media: email@example.com
Source:Gopher Protocol, Inc.