GLANCE TECHNOLOGIE (OTCMKTS:GLNNF) On A Tremendous Bull Run

We commenced assessing GLANCE TECHNOLOGIE (OTCMKTS:GLNNF) in an article called "GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF) Making Big Moves". It was published in September 2017.The company drew our attention as well as that of the international operators like Active Pay Distribution Inc because of the large amount of agreements and acquisitions of cannabis brands.We said that the new initiatives should affect the growth of the company positively.Furthermore, we noted that the market had commenced to recognize the good efforts. Company LogoWe published other articles about this company and noted many other good announcements. We believe that we were not wrong in doing so.The share price has gone from trading close to $0.2 in September 2017 to hit the $0.9 share price level in November.But that's not all. The amount of shares that changed hands recently increased as well. In October, the volume increased to 5 million shares some days. In the month of November, it seems that something similar is happening.Have a look at recent share price action before we explain what's going on: 2 months chart for GLNNFLet's provide some background of the company for those who are not familiar with GLNNF. The company operates Glance Pay; a payment system allowing clients to pay restaurant bills with a smart phone. Additionally, users can interact with others with social media and app messaging. Have a look at the following video. It is self explanatory:

Recent DevelopmentsOn October 12, 2017, the company announced that Cannapay Financial had acquired an Ayurvedic wellness product line. We believe that the announcement is quite relevant, as a new product line means potential revenues for the company. The plan is to develop new products and a new app to promote the beneficial properties of Cannabis, and THC.What's Ayurveda?In the press release, it was highlighted that "ayurvedic medicine treats Cannabis as an ancient holistic plant." We know this medicine because this is the second time that the company acquired Ayurvedic products. The market seems to be excited about this new business venture. Like the last time, the share price was pushed up once the announcement was released. Penny Green, Glance Technologie’s President, was quoted:

"We are working to develop a meaningful, insights-driven brand and the supporting content with the underlying goal of educating cannabis consumers about how to most effectively utilize these products to achieve their health and wellness goals. Just as the practice of Ayurveda is based on the science of life, we are building a brand centered on the science of people," Source

Additionally, it was noted that Bhavna Solecki had been appointed as the new Director of Products and Digital Content. She seems to be the perfect person to lead this project. She is an Ayurvedic Holistic Practitioner, founder of Inner Evolution Healing Center Ltd. and will bring fifteen years of expertise working with plant medicine and ancient therapies.On October 16, 2017, more good news was released. The company signed a definitive agreement with Euro Asia Pay Holdings Inc. GLNNF will license its existing mobile payment system to create an "app tailored for residents, students, and tourists in North America from Asia, and Europe."The market appreciated the news and the share price was pushed up as a result. In our opinion, the opportunity is quite significant, as China’s mobile payments industry in 2016 was said to be worth $5.5 trillion, which is 50 times that of America according to iResearch.That's not all. The contract seems to be very beneficial for the company. Euro Asia Pay shall pay $1,000,000 to Glance Pay in a combination of cash and shares. In the press release, it was noted that the first payment of $250,000 had already made.We want to highlight that it was noted in the press release that a total of $3 million in deals had been signed in 2017. The company is on fire signing deals left and right.Furthermore, on October 19, 2017, the company noted that it received over $9,000,000 in cash and had closed $3,180,000 for the second and final tranche of its financing announced on September 25, 2017. We appreciate the news, as it shows that the company is able to raise capital. Glance CEO Desmond Griffin said the following about the announcement:

“Being well capitalized enables us to pursue a number of initiatives including US expansion, mobile technology platform development, joint ventures, cryptocurrency, and blockchain, as well as other opportunities we are currently exploring,” Source

On October 24, 2017, the company released that it is thinking about the creation of "a rewards based cryptocurrency for use within its mobile payment platform." We believe that the market should have appreciated the news. We do so. In 2017, there are large amount of governments that said to be regulating the cryptocurrency market. Thus, there has been an increase in the demand for such type of payment methods. As the press release says, "digital currencies are in the midst of an epic explosion and as much as $6.6 billion in digital tokens change hands every day." In our opinion, the company could profit from it. It seems to be a brilliant corporate decision.On October 27, 2017, the company announced the appointment of Kirk Herrington as Chairman of the Board. We appreciate the news, because his profile seems interesting. He brings 30+ years senior-level experience in software technologies. Additionally, he has been co-founder of GaleForce and Executive Vice President Products as well as Chief Technology Officer of Pivotal Corporation.On October 31, 2017, more news were released about the initiatives of GLNNF in the cryptocurrency industry. The company noted that it intends to develop a new cryptocurrency to be paid to users who use the Glance Pay app. Glance CTO, Angela Griffin, was quoted:

"We believe that there is an enormous potential for cryptocurrencies to change the payments and rewards landscape. We are excited to leverage blockchain technology to disrupt the global payments industry with our proven mobile payment and anti-fraud technologies." Source

ConclusionCurrently trading with a market cap of $71 million, GLNNF is an exciting story among small caps. We appreciate the company not only for its initiatives, but also because of its solid financial situation. In the last quarterly report, it showed $0.7 million in cash, $1.5 million in assets, no long term debt, and only $0.1 million in total liabilities. To sum up, there seems to be a lot to like in GLNNF, so we encourage readers to follow it closely. It's been a strong performer this year and a big winner for our subscribers.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 dianad souza via FlickrDisclosure: We have no position in GLNNF and have not been compensated for this article.