GLANCE TECHNOLOGIE COM NPV(OTCMKTS:GLNNF) saw a spectacular rise over the past few months from $0.11 last year to recent highs of $3.20 a share. During that time GLNNF transformed from illiquid to one of the top most traded stocks on the entire exchange.
GLNFF has come down significantly since its $3.20 highs as the price of Bitcoin collapsed along with the rest of the altcoin market which as been coming back strong in recent days. GLNFF got a bump 2 days ago after the Company announced a letter to shareholders from CEO Desmond Griffin.
GLANCE TECHNOLOGIE COM NPV(OTCMKTS:GLNNF) owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order food & drink, settle bills, access digital receipts, earn great rewards, & interact with merchants. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, social media marketing, customer feedback, in-merchant messaging and custom rewards programs.
The Glance Pay mobile payment system consists of proprietary technology, which includes user apps available for free downloads in IOS (Apple) and Android formats, a merchant manager apps, large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing. Glance Pay has entered into significant licensing agreements to access the cannabis and fitness and wellness industries through Active Pay and Cannapay.
In May GLNNF announced is has agreed to license its mobile payment technology to Cannapay Financial Inc. for $1,000,000, marking Glance’s entry into the legal marijuana market. On June 22 the Company said it has received the second payment for the $1,000,000 licence agreement with Cannapay Financial Inc.
COO Penny Green said at the time “Cannapay Financial is building a mobile payment solution for the cannabis industry designed to operate legally within multiple jurisdictions. Glance Technologies intends to enable Cannapay to achieve its goal of becoming the leading provider of mobile payment solutions to the cannabis industry worldwide.”
GLANCE has been signing on vendors at a rapid rate; earlier this month it entered into an agreement with the Best Western Plus Sands Hotel in downtown Vancouver, British Columbia to offer Glance Pay anywhere as a payment feature for hotel guests who order room service. They also entered into an agreement to offer its mobile payment app for restaurants and merchants. Glance Pay, at the Ricky’s Group of Family-Style Restaurants with 90 locations across Canada and growing.
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GLNNF has been making some big moves: at the end of Auguust the Company announced it has agreed to license its mobile payment technology to Active Pay Distribution Inc. for $1,000,000, marking Glance’s entry into the fitness hand wellness market.
Pursuant to the deal, Glance Pay will create and provide the technology backbone for the Active Pay app which will serve the growing fitness and wellness community. The app will be named Active Pay and be uniquely branded as Active Pay but will be labeled as “powered by Glance Pay”. Merchants and users who sign up for the Active Pay app will also be included in the Glance Pay app. In addition to the $1 million license fee, Glance will receive a processing fee for transactions and a percentage of revenues generated through the Active Pay app.
On January 6, Desmond Griffin CEO of GLNNF announced a letter to shareholders: A lot has happened since our previous letter six months ago. Given the importance and rapid pace of these developments, we thought an update on our recent progress and plans for 2018 would be helpful. During our first year of operations, we focused on developing and enriching the user experience through the Glance Pay App. We’re now devoting significant resources to enhancing the Glance Merchant App. This latest innovation will give our merchants access to advanced data analytics that inform sophisticated promotions and loyalty programs—all aimed at repeatedly bringing customers back to our merchants’ establishments. We plan to expand this technology into online purchases and e-commerce by leveraging our anti-fraud technology for online merchants suffering high fraud rates. We also plan to reach further into cities across North America, increasing our merchant base beyond restaurants to all types of businesses as we add services that enable various other verticals. We are very excited about our technology roadmap for this year. With sufficient capital in the bank, we’re confident we can achieve our goals and continue to build out our technology platform.
In addition to establishing a significant base of merchants and users and expanding our market, we’ve also explored and tested different monetization strategies for our products. We’ve had a strong start to 2018 for merchant signings including a number of US locations. We’re working closely with restaurants and merchants to determine pricing models and services or add-ons we could implement to monetize our products. As a result, we added a number of services and features to our platform that could be used to earn additional revenue. We believe we have an opportunity to provide services which can compete with companies like Square (whose current market cap exceeds $16 billion) without requiring special hardware to combat fraud. Additionally, we have been exploring other opportunities to license our technology. In the last nine months, we have signed licensing deals with deemed values totaling $9 million. On December 6, 2017 we announced the acquisition of the BlockImpact cryptocurrency and blockchain platform to accelerate our blockchain development. We are also exploring licensing opportunities of this technology beyond our rewards token initiative.
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Currently trading at a $137 million market valuation GLNNF is one exciting story develooping in small caps with a solid balance sheet, growing revenues and little debt and no toxic financing in place. The Company owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users and has been announcing a number of significant deals in recent months including a $1,000,000 licence agreement with Cannapay Financial Inc. in June and a $1,000,000 licence agreement with Active Pay Distribution Inc. in August. GLNNF is fully reporting QB and has a solid team behind it who operate more like a big board than a bb and the stock has quickly attracted a growing shareholder base who continues to bid GLNNF higher. We will be updating on GLNNF when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GLNNF.
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Disclosure: we hold no position in GLNNF either long or short and we have not been compensated for this article.