Ubiquitech Software Corp (OTCMKTS:UBQU) might as well have found a way to reinvigorate its ailing prospects having taken a significant hit. The company is in the process of changing its name and has also decided to forego its cryptocurrency ambitions all in the effort of focusing on the hemp business. HempLife Today is the proposed name change that the company believes reaffirm long-term ambitions and plans.
Ubiquitech Software Price Analysis
The restructuring drive appears to have caught investors’ attention given the increased trading activity around the stock in recent trading sessions. While the stock is still languishing at all-time lows having lost more than 80% in market value, a high turnover in traded shares could as well signal a change in the direction of trade.
The stock has started showing signs of bottoming out having spiked by more than 60% in recent trading sessions. After the recent spike higher, the stock faces immediate resistance at the $0.006 level on further movements on the upward.
A rally followed by a close above the critical resistance level should reaffirm the emerging uptrend, setting the stage for the stock to continue climbing high. Below the $0.006 resistance level, the stock remains susceptible to further declines given the underlying bear trend and the fact that short sellers are still in firm control.
What Does Ubiquitech Software Do?
Ubiquitech Software casts itself as a multimedia, multi-faceted corporation focused on utilizing state of the art global internet marketing and traditional marketing to drive traffic to multibillion-dollar industries. In addition, the company has interests and operations in the Hemp industry whereby it has developed multiple and proprietary CannazALL CBD oil products.
Why is Ubiquitech Skyrocketing?
A spike in trading activity, as well as share price, come on Ubiquitech Software affirming plans to focus on the hemp business. The company is in the process of changing its name to HempLife Today as part of an ongoing restructuring.
A name change comes at a time when the U.S is in the process of legislating new legislation under the 2018 Farm Bill, expected to have a positive impact on the burgeoning sector.
“We are now extremely excited to make this announcement that we are committed to becoming one hundred percent HempLife Today, now, and in the future, and our complete Company focus will be on making HempLife Today the finest in the industry,” said CEO James Ballas.
New CBD Marketing Strategy
In response to the name and focus change, Ubiquitech Software has moved to strengthen its operations and prospects in the hemp business. Through HempLife Today, the company has unveiled a new benevolence program targeting military personnel as well as first responders.
The new program seeks to provide a framework, through which military personnel and first responders can purchase CannazALL Hemp derived CBD products at below wholesale prices. The program provides a way for the company to reach out to more than 2 million active and reserve military personnel as well as over 2 million police and firefighters in dire need of cannabis products.
The marketing strategy should allow the company to reach out to a bigger target audience as it looks to generate significant revenues. The company expects the campaign to accelerate plans to generate revenues of up to $50 million from cannabis products by 2022.
Since the company started selling its CannazALL brands in 2015, it has generated revenues of over $10 million. It has also introduced a dozen new CannazALL products and acquired over 60,000 customers. The company has also expanded production capabilities to meet future demand and created new advertising and awareness campaigns.
“We sold our first CannazALL products in early 2015, and since then we have only grown in this industry. Securing our Trademarks into the future will help us to reach, and exceed, our stated goals and we want our shareholders to understand the complete commitment we have to the success and growth of the Company,” said Mr. Ballas.
What Next For Ubiquitech Software
Ubiquitech Software is in a transitional phase as part of an ongoing restructuring. The company has tweaked its core business to pay more attention to opportunities in the burgeoning hemp industry. After years of investments, the company believes 2019 will be a breakout year given the growing demand for CannazALL CBD products.
While the stock has shown signs of bottoming out, it might be too early to take positions in the stock. A rally followed by a close above the $0.006 level should reaffirm the stock’s bounce back credentials from all-time lows.
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Disclosure: We have no position in UBQU and have not been compensated for this article.