LOGIQ INC - LGIQ STOCK NEWS

Logiq, Inc. (OTCQX: LGIQ) reported a 23% sequential revenue increase to $8.1 million for Q1 2021, driven by DataLogiq's growth and a shift to higher-margin direct sales in AppLogiq. Gross profit margin improved to 27.6%, up 990 basis points year-over-year. However, revenue decreased 46.1% compared to Q1 2020 mainly due to transitioning away from low-margin distributors. The company reported a net loss of $4.1 million, an improvement from the previous quarter. Logiq acquired Rebel AI and launched Fixel’s technology in Shopify and WordPress, targeting SMBs in e-commerce.

Logiq, Inc. (OTCQX: LGIQ) has filed an amended preliminary prospectus for a proposed initial public offering (IPO) of units in Canada. Each unit includes one share of common stock and one warrant. The offering aims to raise funds for data analytics development, marketing, and working capital. Expected to close around June 7, 2021, the IPO has conditional approval for listing on the NEO Exchange. Research Capital Corporation is the lead agent for the offering, which may increase by up to 15% to cover over-allotments.

Logiq, Inc. (OTCQX: LGIQ) will conduct a conference call on May 17, 2021, at 1:00 p.m. Eastern Time to discuss its first-quarter results for the period ending March 31, 2021. The financial results will be disclosed in a press release before the call. Participants can join via toll-free and international dial-in numbers, with an operator available for assistance. A replay will be accessible post-call until May 31, 2021, via the company’s website. Logiq specializes in eCommerce and fintech solutions, with a focus on enhancing online marketing and mobile applications.

Logiq, Inc. (OTCQX: LGIQ) has received Conditional Approval to list its common stock on the NEO Exchange in Canada, pending fulfillment of remaining conditions. This listing aims to enhance visibility and liquidity, offering greater exposure to investors. Logiq’s recent acquisitions and expansions into eCommerce and fintech have strengthened its market position, alongside a diverse customer base including Fortune 1000 companies. However, final approval for the listing is still uncertain, hinging on the company meeting all applicable requirements.

Logiq, Inc. (OTCQX: LGIQ) reported a 9.4% revenue increase to $37.9 million for 2020, driven by the acquisition of DataLogiq. However, fourth-quarter revenue fell 34.3% to $6.6 million due to COVID-19 impacts. Gross profit for the year rose 2.0% to $6.4 million, with improved margins in the AppLogiq segment reaching 25.6% by Q4. The company experienced a net loss of $14.5 million for the year, up from $6.5 million the previous year. Logiq plans to pursue uplisting on the NEO Exchange and continues developing its digital marketing capabilities through acquisitions.

Logiq, Inc. (OTCQX: LGIQ) has announced the acquisition of Rebel AI, enhancing its digital marketing capabilities aimed at small and medium-sized businesses (SMBs). The new platform, Logiq Digital Marketing, will simplify advertising and reduce customer acquisition costs using AI and blockchain technology. CEO Tom Furukawa highlighted that this acquisition aligns with Logiq's strategic goals, aiming to expedite their digital marketing initiatives. The platform is designed to empower SMBs, which have been underserved by traditional marketing technologies.

Logiq, Inc. (OTCQX: LGIQ) has partnered with Comviva to provide digital wallet and payment services in Indonesia, utilizing Logiq's PayLogiq platform and Comviva's mobiquity® Pay solution. This collaboration will facilitate micro-lending services for members of BPJSTK, Indonesia's social security agency, benefiting 48 million individuals and 600,000 SMBs. The services will enable financial transactions including loans, bill payments, and insurance access via mobile devices. Logiq aims to enhance digital financial access and boost economic activity through this strategic partnership.

Logiq, Inc. (OTCQX: LGIQ) has announced a conference call scheduled for March 30, 2021, at 1:00 p.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2020. Details regarding the call, including dial-in numbers and a replay option, have been provided. Logiq focuses on eCommerce and fintech solutions, catering to various enterprises with services like DataLogiq and AppLogiq.

Logiq, Inc. (OTCQX: LGIQ) has launched a new food delivery service named “Dine In Your Car” at Pondok Indah Mall in Jakarta, Indonesia. This service allows customers to order from 65 restaurants directly to their vehicles via the GoLogiq app. Logiq plans to expand this service to include groceries and additional malls, responding to post-COVID consumer behavior. As of now, GoLogiq has over 128,000 app users and is experiencing a recovery in orders post-pandemic. A major fintech provider has partnered with GoLogiq to enhance the service's rollout.