Perk Labs Inc - PKLBF stock
About[edit]
Perk Labs Inc. is a technology company based in Canada that focuses on developing and operating mobile rewards and cashback platforms. The company's flagship product is the Perk Hero app, which allows users to earn rewards and cashback when they shop at participating merchants.[1]
The company changed it's name from Glance Technologies Inc. to Perk Labs Inc. in February 2020. In addition, the operating company changed its name from Glance Pay Inc. to Perk Hero Software Inc. The name change was due to shutting down Glance Pay as a result of the impact of COVID, as well as a strategy change to "move further into the customer loyalty app market and its efforts to craft a new identity that resonates with Gen Z and millennials."[2]
Merger with Getit[edit]
In March, 2023 Perk Labs announced the completion of its merger with Getit. The merger will allow Perk Labs to expand its offerings in the food and beverage industry by leveraging Getit's expertise in developing mobile apps for this sector. The combined company will also benefit from increased scale and operational efficiencies, as well as access to a larger user base and network of merchants. As part of the merger, the CEO of Getit will join Perk Labs as Chief Strategy Officer, while the existing Perk Labs management team will continue to lead the company. The merger is expected to result in cost savings and other synergies, which could help to improve the company's financial performance over time.[3]
Products[edit]
Perk Hero[edit]
Perk Hero is a free mobile app that can be downloaded on both iOS and Android devices. The app allows users to discover nearby businesses and view available rewards and cashback offers. Users can then make purchases at participating merchants using the app, and earn rewards or cashback for their purchases. The rewards can be redeemed for discounts, free products, or other benefits at participating businesses.[4]
Cashback Platform[edit]
The company also offers a white-label rewards and cashback platform that can be customized for businesses of all sizes. The platform allows businesses to create their own rewards and loyalty programs, and to offer cashback and other incentives to customers.
Patents[edit]
Received[edit]
The company holds two patents: U.S. Patent No. 11,170,354 and CA 3056001, are both related to a technology developed by a company for enabling the payment of invoices and bills using a mobile device. [5]
U.S. Patent No. 11,170,354 is a patent granted by the United States Patent and Trademark Office (USPTO) in 2021. It describes a method and system for processing payments using a mobile device. The technology allows users to initiate payments for invoices and bills directly from their mobile devices, without the need for a separate payment processing platform or payment gateway.[5]
CA 3056001 is a corresponding patent granted by the Canadian Intellectual Property Office (CIPO) in 2020. It covers similar technology related to processing payments using a mobile device.[5]
Together, these patents protect the company's intellectual property rights to its technology for mobile payments processing, and may allow the company to prevent competitors from using similar technology without permission. This could give the company a competitive advantage in the market for mobile payment processing, and may help to drive growth and profitability over the long term.
Pending[edit]
Perk Labs has several patent applications pending for various inventions related to mobile payments processing and related technologies. The company has pending patent applications for its mobile payments processing technology in Australia and Europe, which could allow it to protect its intellectual property rights in those regions. Additionally, the company has a pending Canadian patent application related to mobile payments processing and wireless electronic transactions, indicating that it is seeking to expand its patent protection in Canada.[6]
The company also has pending U.S. and Canadian patent applications for an invention that allows orders and payments initiated from traditional websites on any platform to be secured via mobile devices utilizing anti-fraud technology. This invention could have significant implications for online commerce, as it could enable greater security and convenience for customers making purchases online.[6]
Finally, the company has pending patent applications in multiple countries, including the U.S., Australia, Canada, and the UK, for an invention related to transferring cryptographic tokens. This technology could be useful in a variety of applications, including digital asset trading and blockchain-based transactions.[6]
Partnerships[edit]
Perk Labs Inc. has partnerships with several major brands and retailers, including Walmart, Starbucks, and Uber. The company is focused on expanding its network of participating merchants and increasing user adoption of its rewards and cashback platforms.[6]
Shopify Integration[edit]
On January 28, 2021 Perk Labs (OTC: PKLBF, CSE: PERK) announced a Shopify Integration that "will enable Shopify merchants to quickly and easily onboard with the Perk Hero platform through a seamless auto syncing of catalogue information such as title, inventory, pricing and order details. The Perk Hero Shopify integration is designed in such a way that anyone running a Shopify/Shopify Plus store can easily use it and list their products for sale on Perk Hero with very little effort required."[7]
Financial Performance[edit]
2022[edit]
For the year ending 11/30/2022, Perk Labs reported revenue of $23,000 and net income of ($2,492,000), with cash of $232,000 and liabilities of $184,000.[8]
2021[edit]
For the year ending 11/30/2021, Perk Labs reported revenue of $22,000 and net income of ($1,159,000), with cash of $1,003,000 and liabilities of $357,000.[8]
- ↑ Yahoo Finance. PKLBF stock profile. Retrieved on 4/15/2023.
- ↑ Perklabs.io Perk Labs Investor Questions. Accessed on 8/28/2022.
- ↑ Accesswire. Perk Labs Announces Completion of Merger with Getit. March 2, 2023.
- ↑ Perklabs.io. FAQ. Accessed on 4/15/2023.
- ↑ 5.0 5.1 5.2 USPTO.com. Patents. Accessed on 4/15/2023.
- ↑ 6.0 6.1 6.2 6.3 Perklabs.io. Corporate Presentation. Accessed on 4/15/2023.
- ↑ Market Screener. Perk Labs Announces Shopify Integration for a Faster and More Seamless Experience. January 28, 2021.
- ↑ 8.0 8.1 OTC Markets. PKLBF stock Financials. Retrieved on 4/15/2023,
