TPT Global Tech Stock Gains After Issuing Clarification on 5G Rumours
The 5G revolution is almost upon us and many companies that are involved in this space are getting a lot of attention. One such company is TPT Global Tech and on Monday, it was in focus after the company made a major announcement.
The company announced that a false statement had been put out on social media which claimed that TPT Global Tech Inc (OTCMKTS:TPTW) had signed a deal with British company British Telecom for 5G launch in the United Kingdom. TPT Global went on to add that it disclaims the claim made on social media and went on to add that it will support the dissemination of accurate information into the markets.
While the company has disclaimed this particular deal, it should be noted that it has signed other deals in recent times. Earlier on in July, TPT Global announced that it reached an agreement with Meredith and Boo regarding the sales as well as operations of ‘QuikLab’. Meredith and Boo are engaged in providing profitable solutions to healthcare and medical businesses.
The company will not be responsible for helping deploy the TPT MedTech offering ‘QuikLab’ in the Miami-Dade area. It is a significant development for TPT Global considering the fact that the demand for such products is now rising due to the rising coronavirus cases in many parts of the country.
TPT MedTech’s ‘QuikLab’ is meant for use at laboratories and one of the more important things to keep in mind regarding it is that it not only has a quick turnaround time but also helps in making savings. The company claims that it can lead to saving in laboratory costs between 8% and 20%. That works out to savings of around $260 per patient and it is a figure that is not to be sniffed at. In addition to that, QuikLab can also help in reducing waiting times significantly and TPT claims that it can be reduced by as much as 46 minutes per patient.
Earlier on in July, TPT Global Tech had inked a software licensing deal with InnovaQor, its own subsidiary. The licensing deal is pertaining to a telemedicine joint venture that has been proposed with Rennova Health. The cost of the venture in question is estimated to be around $3.5 million but that funding is going to be raised through a capital raise in the future.
It is another important development for TPT Global as it tries to become a major player in the healthcare industry. In the early days of July, the TPT Global stock also moved from obscurity and became a popular stock from among small caps. The stock has been generating significant volumes and it could be worthwhile for investors to keep an eye on the company.
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