Ubiquitech Software Corp (OTCMKTS:UBQU) To Now Become Endo Biosciences Inc

Ubiquitech Software Corp (OTCMKTS:UBQU) might just have finally gotten its act together after confusing the markets for the past few months. We've been saying for quite some time that the name Ubiquitech Software Corp was holding the stock back and depressing the share price. We had believed the company finally got its act together last September when it announced that it was changing its name to HempLife Today. The company said at the time:

Pending the legal requirement filings the company will be known as HempLife Today, with new symbol (To replace UBQU), also pending. The company believes that the already extensive reach of the HempLife Today name, the millions spent on branding, and the ability to leverage this brand into a worldwide powerhouse is the best choice to expand the CannazALL CBD product line to a larger market share, and offers greater flexibility and profit potential as the Hemp industry continues to grow.

However, the company said that after "much deliberation and discussion on the future of the company and what would be best for growth and sustainability a final vote was taken and Endo BioSciences Inc was selected as the new public entity." Our initial reaction was mixed as we liked the fact that HempLife Today is an established brand and already well-known. Name recognition is very important on the OTC Markets and UBQU's lack of name recognition (a software company as a pot stock?) held the stock back. It explains why UBQU did not get the run up to the November ballot initiatives like other cannabis names.The company has reserved the Endo BioSciences Inc name with the State of Colorado. Once all documents are returned from the State, they will be transmitted to the Transfer agent for processing through DTC. Then a new complete package will be submitted to FINRA to finalize the name and symbol change. All appropriate domains, including endobiosciences.com, have been reserved as well. CEO James Ballas said:

"After all this time we are now actually happy that we had delays with our original name change. We always make what we believe are meticulous and strategic plans and do our best to stick with them, but sometimes we also find that positive things can emerge from what appear to be roadblocks, and the naming of the company has shown to be one of these situations. Had we gone with our original choice we would not have the ability to capitalize as well on growth and emerging technologies in our industry that we know are coming in the future. But, with Endo BioSciences Inc, the sky is the limit with what we can do with HempLife Today. Very, very exciting."

Besides the name change, the company has reached an agreement to expand its hemp growing capabilities through an additional 140 acres of available hemp operations. This will help ensure that the Company can meet expected demand over the next five years without interruption. In addition, All CBD-rich products that the company produces, manufactures, or distributes are derived from 100% Federally legal hemp strains that are registered with the Colorado State Department of Agriculture and conform fully with the 2014 US Farm Bill section 7606 which federally legalized the cultivation of hemp under certain federal mandated conditions which HempLife Today and its partners fully meet.Currently trading with a market cap of $1.2 million, UBQU remains an undervalued situation among cannabis stocks. In the nine months ending August 31, 2016, UBQU generated $2.2m in revenues and net income of $186k. Compared to a company like OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) with a $74 million market cap and ZERO revenues, UBQU is certainly in the bargain bin. Investors are now hoping that the new Endo Biosciences Inc can deliver OWCP-like returns.We will be updating our subscribers as soon as we know more. For the latest updates on UBQU and the new Endo BioSciences Inc, sign up below!Disclosure: We have no position in UBQU and have not been compensated for this article.