GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF) Making Big Moves

On August 28, 2017, GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF), which operates streamlined payment systems, surprised the market by releasing a new agreement with Active Pay Distribution Inc. for $1,000,000. The share price increased from $0.15 to almost $0.35 in a short period of time. Have a look at the share price action, before we let you know all the details: 1 year chart for GLNNFBusinessGLNNF is a software company involved in providing the financial services along with the innovative technology to provide enhanced digital financial platform and services to legally operating cannabis businesses. Currently, there are two apps in development. One is Cannapay, which is a mobile to a mobile payment system for the cannabis industry. The other is SuperDope delivery, a mobile ordering platform for delivery of cannabis.Recent DevelopmentsOn Aug. 28, 2017, Glance Technologies Inc. announced that 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 and wellness market. As per the deal, Glance Pay will create and provide the technical support for the Active Pay app, which will serve the growing fitness and wellness community. 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. Active Pay CEO Isadora Melo stated that "We are going to gather the best in the fitness industry in one place - Active Pay, and create a reliable destination to choose and purchase fitness and wellness products and services." The global wellness industry is estimated at $3.7 trillion dollars, and the following deal is expected to be beneficial for both the parties involved.As we said, this deal is the most interesting announcement made recently. The news that really made the share price move. 1 month chart for GLNNFOn Aug. 30, 2017, Glance Technologies Inc. announced that its in-app digital offer concept marketing is now available to merchants and business partners. The offer allows users to be able to redeem the exclusive offers and discounts available on the deals directly with the help of Glance Pay app. Thus, reducing the need for costly traditional paper deals and other coupons.This app offers flexibility and creativity for deals that are not feasible via traditional methods. Glance CEO, Desmond Griffin, was quoted saying that “as 31 billion digital deals are set to be redeemed by 2019, we are proud to leverage our technology platform further to provide our merchants with an opportunity to entice repeat business and reach a wider customer base with a new way to unlock mobile offers.”On Aug. 31, 2017, Glance Technologies Inc. announced that it is acquiring the cannabis brands through its partially-owned subsidiary, Cannapay Financial, for international distribution through its mobile payment apps. Glance President, Penny Green, quoted: "We believe that there is also an opportunity to use our apps to promote awareness of emerging brands containing CBD or THC in jurisdictions where cannabis is or is becoming medically or recreationally legal."Cannapay is also in the process of negotiating potential license agreements for the rights to operate its mobile payments apps in the US, Australia and it is also looking for partners in Jamaica and Germany. Cannapay is also in the process of negotiating a deal to acquire the international rights to a line of health and wellness products that can be marketed and sold through its app in the Cannabis allowed jurisdictions. The following deals will benefit Glance greatly, as it owns 43% ownership of the Cannapay’s shares.Finally, on September 5, 2017, the company announced that Cannapay Financial Inc. agreed to acquire the rights to a package of holistic Ayurverda formulas that treat several ailments. It was noted that the contract gives Cannapay the right to distribute the products in all territories except Canada. Glance President, Penny Green, stated: "this acquisition gives Cannapay the know-how to partner with licensed growers, producers and distributors in international jurisdictions to create Ayurvedic based products containing cannabis."FinancialsWith all the good news in mind, now it comes something else. The balance sheet is quite clean and shows a large amount of cash and current assets. Period Ending5/31/20172/28/201711/30/20168/31/2016Current Assets (All numbers in thousands)Cash And Cash Equivalents797.147346.819268.42657.521Short Term Investments----Net Receivables97.36769.11350.25733.152Inventory----Other Current Assets158.69339.90427.6975.074Total Current Assets1,053.206455.837346.374695.746Long Term Investments101.995---Property Plant and Equipment78.55688.50682.55315.247Goodwill----Intangible Assets321.264359.743390.602437.441Accumulated Amortization----Other Assets----Deferred Long Term Asset Charges----Total Assets1,555.021904.085819.5281,148.435SourceNow, check the liabilities and note that there is no long term debt and the total amount of liabilities is quite small.Accounts Payable (All numbers in thousands)90.00748.318106.25724.727Short/Current Long Term Debt----Other Current Liabilities72.185---Total Current Liabilities162.19248.318106.25724.727Long Term Debt----Other Liabilities----Deferred Long Term Liability Charges----Minority Interest----Negative Goodwill----Total Liabilities162.19248.318106.25724.727SourceConclusionCurrently trading with a market cap of $20 million, GLNNF is an exciting story among small caps. It has recently delivered a large amount of news that include deals with international operators. We believe that the $1,000,000 deal with Active Pay Distribution Inc. was the most relevant. But, the other announcements increased the share volume and excited the market as well. Additionally, the financial situation is sound, as little liabilities were found and the company has cash. To sum up, there's a lot to like with GLNNF.We will be updating our subscribers as soon as we know more. For the latest updates on GLNNF, sign up below!Image courtesy of PhotoAtelier via FlickrDisclosure: We have no position in GLNNF and have not been compensated for this article.