A Tulsa-based micro cap just announced that TulsaLabs, a division of the parent company, will advise and collaborate with the OneRing Protocol through the lab’s blockchain accelerator program to develop a use case around their recently launched 1RING protocol. The OneRing project will explore several blockchain use cases for its protocol such as pool staking, and cloud application utilities. Shares of the parent company, AppSwarm Inc. (OTCPK:SWRM) ripped following the announcement.
AppSwarm Inc. is an application development firm, which is engaged in acquiring and marketing applications for various devices. It offers complete, end-to-end services for mobile application development across all major platforms including Apple iPhone, RIM's BlackBerry, Google's Android, and Microsoft's Windows Mobile.
The company has developed a screening process called The Swarm. This selective screening process encompasses various stratums and allows the company to review each application idea it receives. Geographically, operation of the group is functioned through the United States and it derives most of the revenue from the source of app purchase, advertising, subscriptions, and sponsorship.
Traders were bullish on the news as shares traded up to an early session high of $0.0174/share (+12.99%) following the news. This move could be an indication of things to come as the stock attempts to turn its current multi-month trading range into a potential uptrend.
