Ubiquitech Software Corp (OTCMKTS:UBQU) shares surged 18.73% on Tuesday to $0.0149 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.01 to $0.06. The company has a market cap of $1.50 million at 94.71 million shares outstanding.
In a press release yesterday, Ubiquitech Software Corp confirmed its final name change to Endo Biosciences Inc to represent a shift in its focus. Although also in the running for company name, HempLife Today will remain its main subsidiary. After a lot of deliberation, the company unanimously decided to use Endo Biosciences Inc to reflect the future of the company and what would be best for growth and sustainability. This would also broaden the business model so that new divisions and products can be added in the future.
“This is not the easiest business model in the world,” explained Tim Zorn, President of Ubiquitech Software Corp, “and there are many areas that are not as simple to navigate as other businesses we have developed. But, speaking for myself, and everyone who works with us, we all know that this company is the one that we believe will be the greatest success and have the most impact, and our team has done a stunning job of bringing us to this point. It’s going to be a fantastic year.”
Still, the company would focus on the growing cannabis industry, particularly on the CannazALL product that it creates as well as the core growth of the company.
“After all this time we are now actually happy that we had delays with our original name change,” said CEO James Ballas. “We always make what we believe are meticulous and strategic plans and do our best to stick with them, but sometimes we also find that positive things can emerge from what appear to be roadblocks, and the naming of the company has shown to be one of these situations. Had we gone with our original choice we would not have the ability to capitalize as well on growth and emerging technologies in our industry that we know are coming in the future. But, with Endo BioSciences Inc, the sky is the limit with what we can do with HempLife Today. Very, very exciting.”
Ubiquitech Software Corp was previously focused in the sale of dual subscriber identity module, dual-telephone-number mobile phone solutions with no contract, pre-paid unlimited text and voice. Its dual SIM feature allows the consumer to have two telephone numbers ring to a single phone. Through its subsidiary, Blue Crush Marketing Group, 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, Hemp Life Today, offers CannazALL, which is a canabidol 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.