Tuesday brings more up-to-date news from the cellular industry. Miami-based 5BARz International (OTC:BARZ) told investors that its subsidiary 5BARz India Private Limited is expanding its business focus to include a software-based recurring revenue model, in addition to its hardware business, its patented 5BARz™ 'DISCOVERY' Network Extender and its state of the art 5BARz™ 'ROVR' Wi-Fi Router & Smart IoT Hub.
The company has a contract with a major Telco in India to provide five million 5BARz ROVR routers, which will complement their broadband rollout in India. "With an average of five users per household and a projected unit install base of five million 5BARz ROVRs," Tuesday’s news release revealed, "this represents 25 million active users."
CEO Daniel Bland proclaimed, "Now that we have reached the inflection point of commercialization of our network extender and have designed the next generation in big data solutions utilizing our 5BARz ‘ROVR’ router, we are ready to start the next phase of deployment.
"Furthermore, we intend to dramatically increase our communication with our shareholders going forward in 2019 and beyond, as we actively move out of stealth development."
Shares in BARZ zoomed 1.05 cents, or 21.2%, to six cents, on 497,000
