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hopTo (OTCQB:HPTO) h as announced its financial results for the year ended December 31, 2016. As quoted in the press release: FY 2016 Financial Update: Revenue of $4.0 million Net Loss of $1.9 million Basic and diluted loss per share of $0.19 Fiscal Year 2016 Operational Summary and Business Update “Our efforts to extract value …
hopTo (OTCQB:HPTO) h as announced its financial results for the year ended December 31, 2016.
As quoted in the press release:
FY 2016 Financial Update:
- Revenue of $4.0 million
- Net Loss of $1.9 million
- Basic and diluted loss per share of $0.19
Fiscal Year 2016 Operational Summary and Business Update
“Our efforts to extract value from the intellectual property and software that we have built continued throughout Q4 of 2016 and continue today. In the second half of 2016 we retained the services of Aqua Licensing LLC to assist with the possible sale of our patent portfolio and that process is still ongoing,” stated Eldad Eilam, President and CEO of hopTo Inc.
“Our GO-Global business continues to generate positive cash flow and, while it is seeing some reduction in revenue, we expect it to continue to generate cash. GO-Global continues to be an important aspect of our overall company and we believe that it will continue to operate profitably in the future. We are also evaluating opportunities related to GO-Global.”
“During Q4 2016, we have effectively ceased all of our sales, marketing and R&D efforts for the hopTo products, and at this time we do not expect any meaningful revenues from these products in the foreseeable future. We continue to own all hopTo-related IP including source-code, related patents, and the relevant trademarks. “