TPT Global Tech Inc. (OTC:TPTW) Stock In Focus After Acquisition of Geokall Mobile
A number of companies had come on the radars of investors on Monday for a variety of reasons, and this morning, many of those companies are expected to be on the radars of investors. One of the companies that could be worth looking into this morning is TPT Global Tech Inc. (OTC:TPTW), a technology company that came into the news cycle on Monday.
The company announced that it had completed the strategic acquisition of Geokall Ltd., the technology provider based out of the United Kingdom involved in providing eSIM connectivity products. The company noted that it was an exciting development and one that was going to mark a major move for both firms. It would help boost the capabilities of both companies and improve their positions in the telecom industry.
It was further revealed that the transaction was conducted entirely in stock, by way of which Geokall stockholders were going to receive as much as $1 million in the form of TPT Global Tech Series E preferred convertible stock. In this context, it could be a good idea to take a closer look into Geokall as a firm. The company is known for providing advanced international roaming eSim and hard SIM services or technology.
Additionally, it also offers IoT (internet of things) solutions with both 4G and 5G networks, which are interconnected across more than 200 nations. Following the acquisition, TPT Global Tech would look to deploy the expertise possessed by Geokall for the purpose of bringing about synergies across its existing products. Geokall offers a range of products, like the advanced eSIM solution, the path-breaking Geokall DualCam, and the GKFPM100 plug-and-play tracker. All those products complement the commitment of TPT Global Tech to help with advancements in the mobile and smart city connectivity technology spaces across the world. In the news release, it was noted that integration of the extensive global network of Geokall and its eSIM solutions into TPT Global Tech’s portfolio would help in driving new streams of revenue.
The San Diego, California-based company was in the news headlines on October 27 after it announced that it had been successful in regaining complete compliance with both the over-the-counter (OTC) markets and the United States Securities and Exchange Commission. The development had come about after the company filed its 10Q and became fully reporting as well as current with the SEC filings.
The issue with the company’s compliance came about after one of TPT Global Tech’s subsidiaries submitted its financial records late. That led to the loss of the company’s 15c2-11 status with the SEC for a temporary period. However, the necessary financial information was integrated quickly into the company’s records, and that led to the rapid filing of the above-mentioned 10 Q. In the news release, the company revealed that the proactive approach was the reason why TPT Global Tech was back on course so fast with its regulatory responsibilities as a whole.
