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Shell Summary for Jan. 6, 2015

2015-01-06 20:51 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 8.40 points to 685.60 Tuesday. Ron Schmeichel's two-day-old shell graduate, Frankly Inc. (TLK), was a volatile trader. It opened at $3, fell to $2.25, and then worked its way back up to $2.99, its closing price, all on 602,300 shares. Frankly, one of the TSX-V's most active stocks for the past two days, is the latest tech company to go public through a capital pool shell. With mining out of favour and in the dumps, there will probably be many more tech qualifying transactions in the upcoming months. For example, Paul Kelly's recently suspended capital pool shell, Corporate Catalyst Capital Corp. (CII), plans to acquire Inspiring Experiences Ltd., a software company, as its QT.

Corporate Catalyst will roll back its shares at an undetermined ratio and then issue 121,376,294 postconsolidated shares at a deemed price of 18 cents a share to the shareholders of Inspiring Experiences, after which Corporate Catalyst will change its name to that of its target or something similar. Inspiring owns ZoomAndGo.com Inc., a Toronto company founded and managed by Jonathan Haldane. It has developed software for hotel shopping and booking through a map-based application called Instant Travel Expert. It hopes to apply its technology to rental cars, cruises and other related industries. For now, the company's many hopes have produced negligible revenue. In its fiscal year ended June 30, 2014, Inspiring must have been working on many hopes, losing $2.04-million on revenue of $30,569, compared with its fiscal 2013 when it lost $1.63-million on revenue of $16,306. Looking on the bright side, the revenue doubled. Last summer, Sabre Corp. (SABR: $19.50), which operates Travelocity, and a subsidiary of Expedia Inc. (EXPE: $84.17) agreed to test the ZoomAndGo software, but the companies have not disclosed the terms of the agreement. Usually, such agreements do not produce revenue for either party.

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