What’s Driving the Breakout in Glance Technologies Inc (OTCMKTS:GLNNF)?

What’s Driving the Breakout in Glance Technologies Inc (OTCMKTS:GLNNF)?

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A stock that may be starting to get back on the radar for traders right now is Glance Technologies Inc (OTCMKTS:GLNNF). This was a huge outperformer last year but has been in a bit of funk as the company works out some front office kinks. However, its portfolio of strategic investments is starting to drive the action right now. Particularly, the company’s holding in “The Yield Growth Corp” (a partially-owned subsidiary) has seen some strength.

CROP Infrastructure Corp. (CSE:CROP) (OTCMKTS:CRXPF) just announced it has signed a definitive licensing agreement for US distribution rights and for the exclusive Italian rights to The Yield Growth Corp.’s proprietary cosmetic and therapeutic products that are formulated for infusion with cannabis.  According to the release, “The agreement grants CROP the license to infuse Yield Growth subsidiary Juve Wellness Inc.’s products with high CBD / low THC cannabis and exclusively distribute the products in Italy for three years, with annual renewals on achieving certain sales. Juve has agreed to customize branding and labeling of its products for CROP for the Italian market.”

Glance Technologies Inc (OTCMKTS:GLNNF) bills itself as a company that owns and operates Glance Pay, a streamlined payment system that allows customers to pay their restaurant bill instantly with their mobile device and that combines in-app messaging with social media marketing.

Glance Pay revolutionizes how smartphone users choose where to dine, settle their restaurant bills, access their payment records and interact with their favorite restaurants.

Glance Pay intends to become the industry standard as one of the four pillars in restaurant payments, besides credit cards, debit cards, and cash. Glance is building a valuable network of restaurants and consumers and offers targeted in-app marketing, customer feedback, in restaurant messaging, custom rewards programs, search engine optimization and social media promotions and management for restaurants.

According to company materials, “Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance is building a valuable network of merchants and consumers and offers targeted in-app marketing, geo-targeted digital coupons, customer feedback, in-merchant messaging and custom automated 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, merchant manager apps, a 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, fitness and wellness, foreign student and tourist markets through Cannapay Financial Inc., Active Pay Distribution Inc., and Euro Asia Pay Holdings Inc. Glance Pay is currently developing a rewards-based cryptocurrency to be integrated into its platform.”

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Traders will note 62% added to share values of the stock over the past month of action, a bounce that has taken root amid largely bearish action over the larger time frame. Moreover, the name has seen interest climb, with an increase in recent trading volume of just under 120% beyond what we have been seeing over the larger time frame. This should not be overlooked with a float in play that’s very limited — of 35.8 million shares.

“We are thrilled to be aligned with CROP Infrastructure Corp. to infuse with cannabis and distribute our extensive line of wellness products throughout Italy,” says Penny Green, President and CEO of Yield Growth. “CROP is at the forefront of the burgeoning Cannabis industry as it now seeks to move beyond the State of Washington and California with this deal as its entry into the European cannabis market.”

Michael Yorke, CEO of CROP Infrastructure stated, “This acquisition will be complementary to our efforts of expanding our operations into Europe. We also look forward to bringing this suite of new offerings to our tenant growers and their distribution in Washington and California and as we continue to expand into other States.”

Earning a current market cap value of $76.3M, GLNNF has about $10M in cash on the books, which must be weighed relative to about $900K in total current liabilities. The company is pulling about $1.7M on a TTM basis with strong sequential quarterly growth in recent action. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $GLNNF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $GLNNF, either long or short, and we have not been compensated for this article.

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