How was this Blockchain penny stock able to provide such huge returns in a short period of time? Below we take a deeper look at this stock to uncover the perfect rationales behind the uptick in price, in addition to a quick and brief overview on what the business does.
How Does GLNNF Make Money?
Receipts can be e-mailed to an accountant or bookkeeper. Glance Pay provides various other tools to restaurants and customers for fraud mitigation.
The company also offers marketing, design and training tools for a range of business start-ups, packaged goods, Internet-based companies, and restaurant chains.
So.. we have a Basic idea of what Glance Technologies does.
Let’s dive into the company’s business profile, financials and more.
This article has been designed and segregated into 5 sections:
Latest Press Releases
How Many Operational Business Segments do They Have?
What is the Financial Score?
What About the Networking of the Company?
1. Latest Press Releases:
September 13, 2018: GLANCE TECHNOLOGIES PREVIEWS NEW GLANCE PAYM FEATURES INCLUDING QR CODE PAYMENTS
The Company announced some of the new features built into its upcoming downloadable Glance PayMe™ application that will help merchants transact more quickly and conveniently.
The new features will allow merchants to accept payments from Glance Pay users via:
- Quick Response (“QR”) Code
- Bluetooth (automatically detecting nearby payments)
- Digital Invoice
- The Company announced that its Glance Pay & Glance PayMeTM mobile payments platforms now fully integrate with 15 of the leading restaurant & merchant Point of Sale systems, including Oracle MICROS, NCR Aloha POS, and Squirrel POS.
- Adding integrations to this wide an array of Point of Sale systems now enables Glance to directly connect to more than an estimated 500,000 different POS installations in North America.
- The Company announced that it is accepting select merchants for the trial of its upcoming beta release of Glance PayMe™, the new downloadable app for accepting payments in Glance’s payment ecosystem. Information can be found on its newly launched Glance PayMe™ website at https://glancepayme.com/
- The beta launch of Glance PayMe™ will be an important step as Glance refines its strategy towards targeting new market segments in the freelance or “gig” economy, in addition to its current merchant base within the “Full-Serve” & “Quick-Serve” restaurant sector.
- The Company announced that it has retained Hybrid Financial Ltd. (“Hybrid”) for investor relations services.
- The services will commence on September 1, 2018, and will include marketing, distribution, and branding services for Glance with a specific focus on elevating Glance’s profile among brokers in the United States and Canada.
- Pursuant to the terms of the agreement entered into between the Company and Hybrid (the “Agreement”), Hybrid will receive a monthly retainer of $14,000 and a one-time issuance of 300,000 incentive stock options (the “Options”) to be issued on September 1, 2018, each exercisable to acquire one common share of Glance at an exercise price per share to be determined at the time of grant.
2. Business Model or How Many Operational business Segments do They Have?:
Glance Technologies Inc., a Vancouver-based technology company, owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to shop, make payments, access digital receipts, redeem digital deals, earn great rewards and interact with merchants.
The Glance Pay mobile payment system consists of proprietary technology, which includes user apps available for free downloads in iOS (Apple) and Android formats, merchant manager apps and a large-scale technology hosting system.
Glance PayMe is another mobile app, which allows businesses across industry verticals (beauty and wellness, automotive, retail and e-commerce) to accept mobile payments instantly and build superior analytics.
Both apps are expected to utilize the upcoming Glance Coin, a reward token, which is intended to simplify and enable the adoption of cryptocurrency into everyday life.
Any issuance of Glance Coin would be undertaken in accordance with applicable securities laws.
The payment-processing platform is now being licensed to other companies, enabling them to build their own network of users who will use the mobile application in their businesses.
3. Latest Financial Reports
Q2 2018 Operating Highlights:
- $229k revenue (transactions and services), up 81% from $127k in Q2 2017
- Launched the ability to pay parking tickets – demonstrating the ability to use the mobile payment application in another vertical.
Q2 2018 Corporate Highlights include:
- Hosted a full-day Blockchain Summit in May 2018 called The Future of Blockchain, featuring industry experts speaking on potential applications for blockchain and what businesses can do to prepare.
- Significant customer announcements included the Company’s first live locations in the U.S., its first U.S. restaurant chain (Uno Mas Mexican Grill) and the signing of Vancouver-based Freshslice Pizza, the largest restaurant chain in the Glance Pay network.
- Announced the opening of offices in Melbourne, Australia, and London, U.K., furthering the Company’s global presence.
- Increased headcount by 26% compared to Q1 2018, as the Company continues to invest in development and blockchain.
4. Expansion or Contraction – What About the Networking of the Company?
In May 2018, Glance Pay exhibited at the U.S. National Restaurant Association in Chicago, having been selected as one of 14 exhibitors to join its exclusive Startup Alley pavilion
A cornerstone of the Company’s many restaurant partnerships is several signed restaurant chains, which boast lucrative businesses and an expanding footprint of franchised locations, including MR MIKES Steakhouse Casual, Ricky’s Group of Restaurants, Freshslice Pizza and the Steamworks Group of Companies.
The Company has expanded its business development team with new offices and representatives on the ground in both Toronto, Ontario and San Jose, California.
Glance is now expanding its U.S. presence and is planning its expansion in the U.K. and Australia, where Glance Pay opened offices in March and April 2018.
5. Risks Involved:
- The Company’s operations are dependent on key technical personnel, and the loss of such personnel could have a significant impact on the Company’s ability to conduct its activities
- Currency fluctuations and exchange rates
- The Company’s ability to continue as a going concern
- The Company may not be able to obtain all necessary funding for its operations, on terms satisfactory to the Company or at all
- Credit risk
- The Company’s dependence on information technology systems
- Risks associated with cybersecurity and privacy violations, in particular given the Company’s operations are highly dependent on online technologies and the Company obtains a significant amount of personal information in the course of operations
- Risks associated with having a customer in the cannabis industry, as cannabis remains illegal in certain jurisdictions
- Risks associated with investments and activities in the cryptocurrency industry, which may be subject to ongoing regulation in due course
- Risks associated with the adoption and development of the global blockchain platform
- The Company may not be able to continue to successfully expand its operations beyond the Canadian marketplace or into industries other than the restaurant industry