Ubiquitech Software Corp (OTCMKTS:UBQU) shares popped up 3.70% on Thursday to $0.0168 then retreated 4.46% in after-hours trading to $0.0160. Share prices have been trading in a 52-week range of $0.01 to $0.06. The company has a market cap of $1.73 million at 94.71 million shares outstanding.
Earlier this week, Ubiquitech Software Corp announced its plans to change the company name to Endo Biosciences in order to reflect its shifting focus and to allow more ventures to be included in its strategy down the line. Yesterday, the company shared that it concluded negotiations and reached an agreement to expand its hemp growing capabilities through an additional 140 acres of available hemp operations.
This greatly supports its main subsidiary HempLife Today, which is poised for strong growth now that several US states have approved the use of medical or recreational marijuana. Analysts project that the market will grow to $7.1 billion this year and to $20 billion by 2020.
“With all that we have learned and achieved in 2016 we really look at 2017 as our first solid year for consistent and substantial growth,” remarkedJames Ballas, CEO of Ubiquitech Software Corp. “And we’ve hit the ground running at a much higher capacity right from the start. This should make first quarter our best ever, and everything we do is to create growth throughout the year.”
“With our new agreement on expansion we will have no problem meeting the demand for our CannazALL products,” added Tim Zorn, President of Ubiquitech Software Corp. “With continued month over month growth that we are planning for it’s great to know that we can always fulfill orders, and also be introducing new products to the market.”
The company’s latest developments ensure that it can meet expected demand over the next five years without interruption. After all, the CBD-rich products that it produces are 100% Federally legal hemp strains that are registered with the Colorado State Department of Agriculture and conform fully with the 2014 US Farm Bill section 7606.
Ubiquitech Software Corp is a company that was previously engaged in the sale of dual subscriber identity module, dual-telephone-number mobile phone solutions with no contract, pre-paid unlimited text and voice. The dual SIM feature allows the consumer to have two telephone numbers ring to a single phone.
Through its subsidiary, Blue Crush Marketing Group (BCMG), the company also markets a Blue Crush Monetization System, which consists of Internet technologies along with other online advertising methods. BCMG also offers Blue Crush Connect, a social media portal that connects its customers to its Websites, brands and offers. Another subsidiary called Hemp Life Today offers CannazALL, a canabidiol oil made from domestically grown hemp. Ubiquitech Software Corp is also engaged in the development of FusionFundraiser, a mobile application to allow traditional fundraisers for schools, clubs, organizations, sports teams and others to access a mobile application.