Loop launches multilingual platform to support national programs; receives $4.6M from exercise of warrants

Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF), a provider of contact tracing and artificial intelligence to drive automated marketing, said Friday that it has released its multilingual capabilities for its digital wallet and venue management platform.  The Vancouver-based advanced technology company said that the multilingual capabilities were “essential” to national rollouts of each platform. “Languages supported are English, French, and Spanish,” said the company in a statement.  Loop has already successfully created venue bubbles for two separate live tournaments hosting top NCAA Division 1 basketball teams in Florida and Las Vegas.  READ: Loop Insights and Empower Clinics partner with SimpliFlying to provide travel bubble solutions “With the whole world watching, including professional sports leagues and teams, college sports leagues … Loop hit it out of the park and provided the world with the empirical data necessary to demonstrate our bubble solution is nothing short of world-class,” Loop Insights CEO Rob Anson said in a statement. “We have already commenced significant discussions regarding the possibility of Loop protecting and helping to re-open some of North America’s largest sporting events in 2021,” he added. Loop said it swiftly incorporated multilingual capabilities as it is in “advanced level” discussions with potential national partners and clients across North America. On December 9, Loop took steps to help make travel safer in the pandemic era with its so-called “travel bubble” solutions. Again, the multilingual capabilities are moot as Loop says it has kicked off “significant discussions” surrounding travel bubble opportunities with some of North America’s largest airlines, resort operators, venues, and hospitality groups globally. “We anticipate this new revenue stream may be significant for the company as we progress these opportunities in 2021,” said the company. In the meantime, Loop has proven contact tracing technology. The firm's venue tracing platform is unique in that it requires no app download and only a tap of the user’s device to check-in for protection and alerts. Loop’s SmarTap devices are installed at multiple points to log every individual that enters a venue by check-in using the Loop contact tracing wallet pass. Loop’s solution allows venue staff to quickly identify individuals that were in proximity to an infected person and isolate potentially infected individuals. Separately, Loop received around $4,600,000 from the exercise of warrants up to December 10, 2020. The company said it does not foresee the need for financing with the exception of strategic client partners that may want to invest in Loop to participate in its growth. The company said it expects to generate “meaningful revenue” from its current and anticipated sales pipeline over the next 12 months, as well as receive additional proceeds from further anticipated warrant exercises. “The company is confident it now has the war chest necessary to pursue all anticipated business opportunities as the demand for its solutions continues to grow on a weekly, if not daily basis,” said the company. Anson added: “These warrants being exercised significantly bolster our financial strength, resources, and confidence necessary to close on any deal in our pipeline, many of which are of significant size and scale.” Meanwhile, Loop is starting discussions on its “CEO Verified Forum” on AGORACOM this weekend. This will serve as Loop’s primary social media platform for interaction with shareholders, said the company. “I’ve always prided myself on responding to all investor inquiries by email, phone or text but given the growth of the company in 2020, the demand for engagement and discussion by investors has grown to the point that it now makes sense to unify these discussions under one umbrella that provides all investors with the exact same access,” said Anson. “AGORACOM provides verification of Loop management, as well as, smart rules of engagement to ensure civilized, constructive, and robust conversation between all of our stakeholders.” The Loop Insights Forum can be found at https://agoracom.com/ir/LoopInsights/forums/discussion Contact the author Uttara Choudhury at uttara@proactiveinvestors.com Follow her on Twitter: @UttaraProactive