Business
Emerging Markets Report: What’s in a Name?
Emerging Markets Report: What’s in a Name?.
About this update from Logiq Inc.
[{"type":"text","content":"\n 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” Full release here. 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....