(NEW YORK)–Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) breaks above its 200-day moving average as construction of its telecom networks in Sierra Leone and Dominica begin.
The Company recently announced its first phase of both networks, which includes the deployment of wholesale voice and SMS services in each market, was progressing on schedule. POP selections have been made and network equipment has either been delivered in country or is en route into the market. Hammer announced that the first services in these markets would be available in its third fiscal quarter, ending April 2019.
“Hammer has now entered its next phase of development,” said Erik Levitt, Hammer’s CEO. “The acquisitions made last quarter have been fully integrated, and we now look forward to building into the new markets we have established.” Hammer announced its partnership with Wikibuli to deploy its wholesale network and retail wireless facilities in Dominica in December of 2018. The announcement of its first deployment in West Africa in Sierra Leone followed in January. “We will grow organically in our new markets as well as through acquisition.”
“Our accomplishments last quarter have laid the foundation for Hammer’s future,” said Michael Cothill, Hammer’s Chairman and a veteran of the African wireless marketplace. “We look forward to expanding our operations in West Africa, the Eastern Caribbean and in the United States.” Hammer is deploying its “Everything Wireless” strategy across multiple markets both as an operator and using strategic partnerships under its Mobile Network Service Provider Program.
“Technology is only one piece in solving the world’s connectivity puzzle. Hammer’s combination of global reach, local experience and advanced technology makes us unique in the marketplace,” added Levitt. “I have the utmost confidence in our team. The trust and respect that we have built over the last decade provides the ideal environment for us to accomplish our objectives.”
Ludlow Research, a small cap equity research firm based in New York, upgraded its ‘short-term’ opinion on HMMR with a $2.00 to $3.00 price range target based on Hammer’s move into commercializing of their “Everything Wireless” program.
As both projects in Africa and Dominica come online in late February and March 2019 HMMR stock offers the ‘short-term’ opportunity for rise into the $2.00 to $3.00 range going into this event.
Longer-term, as more new projects are revealed, this company has strong potential for even higher prices based on their unique technology, and ability to deliver pre 5G service to more rural and under served areas. In addition, prospects of HMMR becoming an acquisition target from a larger telecom player should only increase as more service is launched in emerging market regions.
HMMR ability to now reach into 49 states, both urban and rural, could position Hammer Fiber as a potential acquisition target for last mile delivery for some of the bigger players in the space, like Google Fiber (NASDAQ:GOOGL) or AT&T AirGig (NYSE:T).
Case in point, take a look at what happened to Straight Path Communications, Inc. (NYSEMKT:STRP), an owner of much sought after bandwidth spectrum. STRP held a large inventory of 28 GHz and 39 GHz millimeter wave spectrum used in mobile communications that would give a new owner an advantage in 5G development. Well this set off a bidding war between Verizon (NYSE:VZ) and AT&T that sent Straight Path stock from around $35 a share to high of $230 in just one month.
Hammer Fiber Optics Holdings Corp. (OTCQB:HMMR) is a telecommunications company investing in the future of wireless technology. Hammer’s “Everything Wireless” go to market strategy includes the development of high-speed fixed wireless service for residential and small businesses using its wireless fiber platform, Hammer Wireless® AIR, Over-the-Top services such as voice, SMS and video collaboration services, the construction of smart city networks and hosting services including cloud and colocation. For more information contact Frank Pena at email@example.com
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