GBT Technologies Inc (OTCMKTS:GTCH) Stock On Radar After Latest Development
Earlier on this week GBT Technologies Inc (OTCMKTS:GTCH) was in focus after it announced that it had been awarded a notice of allowance by the United States Patent and Trademark Office for an application. The application in question had been for its automatic generation of reusable integrated circuits (ICs) layout blocks.
Trading Data
On Wednesday, GTCH stock slumped 12.50% to $0.0007 with more than 99.31 million shares, compared to volume of 69.98 million shares. The stock moved within a range of $0.0006 – 0.0009 after opening trade at $0.0008.
GBT’s Automatic Generation of Integrated Circuits Layout Blocks (IP) Patent, Received a Notice of Allowance, Expected To Be Granted In The Next Upcoming Months
The patent application had been made by GBT Technologies so as to protect the technology related to the automatic production of IC layout blocks as per the highest level and functional description of the circuit. The company also noted that it intended to use the technology as a black box that could be integrated in existing as well as future IC projects in form of a plug and play unit.
The company had filed the aforementioned patent application on September 27 last year. In the press release that was announced by GBT Technologies it was also noted that there was no guarantee that it was going to be successful in developing or implementing the system. For its success, the company would need to raise enough capital to conduct the research and if the research is successful it would need further funds to develop it before looking for regulatory approval.
