PeerLogix Inc (OTCMKTS:LOGX) shares were up 53.53% on Wednesday and down 16% in after-hours trading to $0.126. Share prices have been trading in a 52-week range of $0.01 to $0.61. The company has a market cap of $3.61 million at 24.10 million shares outstanding.
In a press release this week, PeerLogix Inc announced that it has signed a three-month evaluation and test agreement with a Fortune 100 company that is one of the leading marketing services providers in the digital advertising industry.
PeerLogix Inc is an advertising technology and data aggregation company, formerly known as Realco International. The company is engaged in providing software as a service platform, which enables the tracking and cataloguing of Torrent files and Torrent networks in order to determine consumer trends and preferences based upon media consumption.
It has developed and deployed a mobile and digital advertisement-serving platform utilizing such data to provide targeted placement of digital advertisements. Its patent pending platform collects Torrent data, including Internet protocol addresses of the uploading and downloading parties, the name, file type, media type, and genre of media downloaded, and utilizes licensed and publicly available demographic and other databases to further filter the collected data to provide insights into consumer preferences to digital advertising firms, product and media companies, entertainment studios and others.
We are excited to provide our full suite of advertising data to this multinational computer technology corporation with more than 400,000 customers who intends to build out a series of test campaigns utilizing our data to test feasibility and compatibility with their technology infrastructure.” remarked Peerlogix inc ceo william gorfein.
This company, although the name hasn’t been disclosed yet, has one of the highest levels of market share within the digital advertising industry and has spent multiple billions of dollars building their marketing offering, both through acquisitions and organic means.
This company is seeking to expand its advertising offerings in the entertainment industry, and we are pleased they have identified PeerLogix’s 140 million home audience of granular entertainment data to include in their evaluation,” Gorfein added.
The long-term chart of PeerLogix Inc shares shows that it has already broken out of its downtrend from earlier on but has failed to exhibit significant upside momentum just yet. Price is still treading sideways below the $0.25 level as volume has been subdued so far. This recent agreement should spark more investor interest and volume, possibly leading to an upside breakout from the range.
Earlier in the month, PeerLogix Inc reduced the number of shares outstanding through the cancellation of 8,324,084 common shares. This reduces the current shares outstanding by 33% to 16,773,451. Gorfein explained that this move was made to reinforce the company’s commitment to its shareholders. He added that the agreements and partnerships they have recently announced demonstrate that the digital advertising solutions offered are capable of driving additional sales and further encourage engagement. He concluded that they remain focused on value creation and increasing shareholder value.
Among these partnerships are its agreements with a leading financial services firm signed in late September which intends to build out a series of marketing campaigns utilizing PeerLogix Inc services that will be viewed by over 100 million people per campaign. In the same month, announced that it has signed a 12-month revenue sharing agreement with one of the leading marketing services providers in the digital advertising industry that might bring revenues in excess of $150,000 over the term of the contract.