Loop Insights Inc. (MTRX:TSX.V) announced in a news release its strategy for the near future as businesses worldwide start to reopen.
Many of Loop's projects that were suspended due to COVID-19 pandemic restrictions are being scheduled for mid-June restarts. Completing them will be the Vancouver, British Columbia-based company's primary focus throughout the remainder of 2020.
Loop's recently released products, which include contactless identification verification and digital receipts, are expected be in greater demand because of the new emphasis on contact-free retail interactions due to the coronavirus. Thus, the tech firm expects an increase in new contracts and continued growth.
"COVID-19 brought Loop the perfect storm of relevancy for our products and services," CEO Rob Anson said in the release. "The sense of urgency and need to embrace digital transformation could not be any higher."
"We identified the gaping holes in the market long ago and our commitment and focus to stay on course has now positioned us to become a global leader in the contactless, frictionless solutions space. Our sole focus for the remainder of 2020 will be on the execution and successful implementations of the many big projects that lay ahead of us," Anson said."
To achieve growth over the long term, the company plans to remain "extremely lean and agile and to expand through distribution and channel resellers," the release noted.
Loop Insights stated it is well financed to capitalize on its newly announced distribution partnerships in Hawaii, Canada, Mexico, Latin America and Indonesia, thanks to the company recently completing an oversubscribed financing.
[NLINSERT]Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Loop Insights. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Loop Insights, a company mentioned in this article.
