Glance Technologies Reports Year-End Financial Results

Glance Technologies (OTCQB:GLNNF), a company that provides mobile payments for retail industries, food services and a variety of merchants, released their annual year-end financial results ending November 30, 2018. Revenue for fiscal year-end stood at over $1.6 million, a 58 percent increase over the year.

As quoted in the press release:

“By adding new products & capabilities to our technology platform, adding new merchants and consumers, significantly reducing costs, removing corporate distraction, and improving our capacity for monetization, we feel we have made solid progress,” says Desmond Griffin Glance CEO, “We are convinced that our new products are significant improvements over conventional ordering, payment, and loyalty experiences and believe products such as these are the future.”

Q4 2018 compared to Q4 2017 – Financial Highlights

(all figures are rounded to the nearest thousand):

• Investment Assets of $4.7m in Q4 2018 compared to $1.3m in Q4 2017.

• Changes made to existing license agreements in Q4 2018 and related new license agreements resulted in significant accounting impacts for the quarter.

• Revenue of $76,000 in Q4 2018 compared to $687,000 in Q4 2017.

• Net loss of $541,000 in Q4 2018 compared to a net loss of $5,863,000 in Q4 2017. Net loss in Q4 2018 represented ($0.004) per share or $(0.004) diluted, while net loss in Q4 2017 represented $(0.08) per share or $(0.04) diluted

Click here to read the full press release.