ORLANDO, Fla., Oct. 07, 2020 (GLOBE NEWSWIRE) -- For some time we’ve covered the progress of Weyland Tech which has turned our head with bold revenue in the past and an enormous annualized run-rate. As we said before, you just don’t see that at the microcap level very often.
Now, the Company is making a massive leap into the new with a bold name change. Weyland Tech (OTCQX: WEYL) is now Logiq, Inc. (OTCQX:LGIQ), a global provider of award-winning eCommerce solutions.
Logiq CEO Tom Furukawa added a brief comment on the change that explains the move but it is another data point that might be more compelling. But first, his quote:
“Our new name and ticker reflect our evolution from operating primarily as a mCommerce services company to becoming a leading innovator of data-driven consumer intelligence and marketing technology. We’ve now entered a new stage of accelerated growth and development.”
We may go so far as to call the CEO’s reference to a new stage of accelerated growth an understatement or rare moment of corporate humility. We say this because a couple days before the name change the Company dropped a press release with this headline:
“Logiq On Track for Record Revenues in 2020, Exceeding $38 Million”
Again, we would be hard-pressed to find very many companies trading at this strata of the market who can post top line revs like that. And a few lines from that release give us a little perspective on the growth to date and where the Company may be headed:
“Despite a tumultuous year of challenges and setbacks created by the global pandemic, we have been able to transform Logiq into a global provider of a full-range of eCommerce solutions for companies of all sizes. This has kept us on course for growth in 2020 and beyond with more diversified, high-margin revenue streams derived from the strongest segments of our industry.”
We also like that on top of expanding revenues the Company is also expanding its service offerings, which if executed successfully could portend even more revenue. Here’s a quick snippet from the same release:
“The company’s offerings now range from mobile commerce and fintech solutions for micro-, small- and medium-sized businesses (MSMBs) to AI-powered customer acquisition for major enterprises and brands. Customer relationships now range from hundreds of thousands of MSMBs around the world to publicly traded Fortune 500 companies. Marquee clients now include Home Advisor, QuinStreet and Sunrun.”
With this level of momentum, a name change and re-brand just seems Logiq-al.
For more information, visit www.logiq.com.
Logiq, Inc. (OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.
The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s PayLogiq™ offers mobile payments, and GoLogiq™ offers hyper-local food delivery services. For more information about Logiq, go to Logiq.com.
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This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq 's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading "Risk Factors" in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
Brent Suen, President Logiq, Inc.
The Recipients of the Information should be especially cautious about any revenue predictions, projected revenues, revenue expectations or revenue estimates (the "Revenue Projections") because: (a) we conduct no due diligence whatsoever on whether the Revenue Projections have a foundational basis; (b) the Revenue Projections may not be in accordance with US Generally Accepted Accounting Principles or SEC guidelines for projections; (c) the assumptions upon which the projections are being made may lack a foundational basis; (d)) the Revenue Projections may be inherently unreliable because they are subject to future events.
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