x min read

GLANCE TECHNOLOGIE (OTCMKTS:GLNNF) Keeps Making New Highs

GLANCE TECHNOLOGIE (OTCMKTS:GLNNF) Keeps Making New Highs
Written by
Jarrod Wesson
Published on
November 27, 2017
Copy URL
Share on LinkedIn
Share on Reddit
Share on Twitter/X
Share on Facebook
InsidrFinancial

Today, we are going to revisit GLANCE TECHNOLOGIE (OTCMKTS:GLNNF) again, because the stock price has exploded up once more.Our readers will be remembering well our last piece published on November 6, 2017. We mentioned in our last piece that this was a company to be followed very closely for several reasons. First of all, large amount of agreements and acquisitions of cannabis brands were making the company grow at a faster pace.But, there was more.The financial situation of the company was very beneficial and the market had correctly identified it.Have a look at the recent share price increase before we tell you the news: 2 months chart for GLNNFFor those who don't know this name, GLNNF operates Glance Pay, a streamlined payment system, which is revolutionizing how clients choose where to eat, make payments, access digital receipts and interact with merchants.Additionally, we value its collaboration with companies like Cannapay Financial Inc., Active Pay Distribution Inc., and Euro Asia Pay Holdings Inc, which helped the company enter new sectors.In this article, we will see that the company keeps innovating and entering the new markets.Recent DevelopmentsOn November 6, 2017, the company noted the appointment of Alexander H. Perkins to the Board of Directors. We appreciate the expertise of Mr. Perkins, but the most significant was his previous experience in the blockchain industry.He has previously worked as Advisor and Vice President of Strategy for Humaniq, a blockchain company working to deliver banking services to the 2 billion "unbanked" globally, which hosted a successful ICO in early 2017. Additionally, he holds Masters degree in Finance and Bachelor degree in Accounting and Finance from Claremont McKenna College.But, there is more about the company's activities in the digital currency sector.On November 13, 2017, we could confirm that the company is very serious about this growing industry. Dinis Guarda was also joining the advisory board of Glance Technologies. He is ranked 5th most influencer in Blockchain in the world by Right Relevance. The most significant was that the company may commence an initial coin offering. Read the following:

"Glance has engaged Mr. Guarda to secure the teams for tech development for a possible initial coin offering for a rewards based cryptocurrency to be integrated with the Glance Pay mobile payment network and to provide strategy and assist Glance in building a premium advisor crypto network." Source

We appreciate the addition of this new business profile and the fact that the company may celebrate an ICO. In our opinion, this new business decision will make the company grow at a faster pace. In addition, as the company is an early adopter in the ICO industry, its recognition in the market will grow.The market obviously pushed up the share price after this news was received. From $1.0, it went rapidly to $1.5 delivering outstanding returns to some market participants and to those who were able to read our last report.On November 15, 2017, the company released a new version of the Glance Pay Merchant app, which will allow merchants to download the app and accept Glance payments and rewards within minutes, with no custom hardware required. Glance and the Insider Financial team believe that the new capabilities will help enable viral adoption of its technology.On the top of it, the company expects the new product to perform as good as other apps are doing in China. The following information was given about the asian market:

  • Users sent $1.7 trillion in total payments through Alibaba's Alipay service last year, up from only $70 billion in 2012 (UN-based Better Than Cash Alliance).
  • Tencent's WeChat users sent about $1.2 trillion in 2016, up from $11.6 billion in 2012.

Additionally, the company noted that other companies like Square have done a good job in this sector, but their solution needs custom hardware, while Glance doesn't. Glance CEO, Desmond Griffin, was quoted:

"And if you look ahead, custom hardware is not required to process cryptocurrency payments, and thus we believe we are well positioned with this new app." Source

On November 20, 2017, great news arrived again. The company noted that Glance Pay app was going to be available for Android soon and new payment capabilities were ready. The most significant was that the app will, from now on, permit customers to redeem offers and discounts set by the retailer via digital deals found directly on the Glance Pay app. But, that's not all. The app also comes with geo targeted advertising, which allows merchants to easily reach consumers and drive them into their locations.Finally, on November 22, 2017, the company released news that made the share price spike astonishingly. The company released this press release, wherein its crypto strategy was defined. This is what you need to know:

"The Glance token will be granted as rewards to users of the Glance Pay mobile payment app every time they spend on the Glance Pay mobile payment network, whether they have paid with the new cryptocurrency or via other payment methods." Source

If the company is able to grow at the same pace the cryptocurrency sector is growing, we could see the share price increase quite a bit. The company reminded that "market cap of all cryptocurrencies has gone from $17 billion USD one year ago to over $245 billion this week, which is an increase of over 1,340%." That's the reason that we believe that entering this industry is a brilliant corporate decision.Conclusion Currently trading with a market cap of $196 million, GLNNF is an exciting story among small caps. We continue to see that the financial situation is strong. In its last balance sheet reported, the company exhibited $0.7 million in cash, $1.5 million in total assets, and only $0.1 million in total liabilities.To sum up, congratulations to those who were able to read our previous article and continued checking the company. There is still a lot to like in this name!Be sure to check out our coverage on 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 Luke Descryptive via FlickrDisclosure: We have no position in GLNNF and have not been compensated for this article.

Discover Hidden Gems

Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.