Image Protect Inc (OTCMKTS:IMTL)
Image Protect Inc (OTCMKTS:IMTL) rallied 50% after hyping growth opportunities as focus shifts to monitoring copyright infringements on social media. The rally also came after the company announced a narrower than expected net loss for the six months ended June 30, 2017.
Social Media Opportunity
Image Protect Inc (OTCMKTS:IMTL) is currently trading at the higher end of its $0.02 to $0.04 trading range as a bullish momentum continues is claimed to be building around the stock. The stock has already broken a key resistance at the $0.03 level.
Renewed interest on Image Protect comes on growing investor confidence that the company stands to gain a great deal as it pursues opportunities on copyright infringement and piracy in the social media space. Facebook Inc. (NASDAQ:FB) has already acquired a copyright infringement startup that it plans to use to monitor content on its networking apps.
The acquisition by the tech giant, according to Image Protect Inc (OTCMKTS:IMTL) CEO, Lawrence Adams, exemplifies the enormity of copyright infringement market. The market is only expected to continue growing as people download and use millions of images and content with total disregard of copyright regulations.
In a bid to take advantage of the growing opportunities around copyright protection, Image Protect has unveiled its own proprietary monitoring software for websites and blogs. The software has grown from a beta-tested startup to a full-service enterprise currently monitoring over 1 million images.
“Order is being brought to the fast-moving world of the internet age, who owns what, and who has the rights to post and use Images, content, and videos, is just now coming to light by a small handful of steadfast startups fighting for the rights of Artists to be compensated while building revenue models,” said Mr. Adams.
Growing Actionable Infringement Cases
Pursuit of growth around copyright protection on social media should go a long way in strengthening Image Protect Inc (OTCMKTS:IMTL) portfolio of actionable infringement cases. The increase should in return lead to a diversified avenue of revenues as the company continues to record hundreds of possible infringement sightings a week.
The increase in actionable cases, according to the company’s Chief Operating Officer, Jonathan Thomas, is due to the company’s advanced software platform working across all channels.
Separately, Image Protect Inc (OTCMKTS:IMTL) says it generated revenues of $189, 687 for the first six months ended June 30, 2017 up from 191, 618 reported for the corresponding period last year. The company’s net loss for the period came in at $18,117 down from $271,559 reported last year.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.