FEATURE: DIGITAL TRANSFORMATION
Greg Bauer, CEO, Gopher Protocol
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Gopher Protocol, a company specialising
in the creation of Internet of Things (IoT)
and artificial intelligence-enabled mobile
technologies, announced a closing of the
sale of a convertible debenture containing
a fixed conversion price, which generated
US$750,000 in gross proceeds. The
financing is part of the company’s strategy
to reduce its dependence on derivative
convertible financing and create a balance
sheet that gives investors clarity regarding
the number of shares outstanding and
potential dilution caused by convertible
debenture financing. The investor that
participated in this financing may, at its
sole discretion, provide additional funding
to the company at similar terms of the
current funding.
effort to deleverage its balance and add
shareholder equity to the balance sheet. As
reported on its most recent Form 8-K, the
company continues to improve its financial
outlook by eliminating all derivative
liabilities by paying off its reaming
derivative liability on March 5 2018.
Along with the recently announced growth
capital financing, the company is positioned
to pursue growth and fund the rollout of
THE NUMBER OF FIRMS INVESTING IN
THE DEVELOPMENT OF IOT PLATFORMS
AND TECHNOLOGIES IS RISING,
PARTICULARLY AS THE INFUSION OF
MESH TECHNOLOGY WILL SERVE TO
ENHANCE THE OPERATING EFFICIENCY
OF IOT PLATFORMS.
The Internet of Things (IoT) space is one of
the hottest avenues within the tech sector as
society becomes increasingly connected to
the web at all times. Due to the rapid growth,
advancements and consumer demand, the
Boston Consulting Group is forecasting the
sector to top US$267 billion in revenues
within two years. As previously announced on January 2 2018,
an investor that had previously acquired
convertible debt from the company, invested
US$1 million in a common equity financing
and agreed to potentially purchase an
additional US$500,000 at its discretion,
potentially bringing the total investment to
US$1.5 million.
Additionally, the number of firms investing
in the development of IoT platforms and
technologies is rising, particularly as the
infusion of mesh technology will serve to
enhance the operating efficiency of IoT
platforms, enabling companies to develop
and release new platforms for consumers
and businesses alike. Active companies in
the markets include Gopher Protocol Inc,
Microsoft, NVIDIA Corporation, Facebook
and Alphabet Inc. “It should be a very positive signal to the
market that, in January 2018, a private
accreditor investor made the transition from
being a lender to an equity investor,” stated
Greg Bauer, CEO, Gopher Protocol. “We
believe the closing of the current convertible
debenture with a fixed conversion price
supports the notion that the investment
community agrees that Gopher is on
the right track going forward,” he added.
Gopher Protocol has made a concerted
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