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by Stockwatch Business Reporter

The TSX Venture Exchange added a fraction to 695.42 Wednesday. Gregory Hewitt's halted capital pool shell, 71 Capital Corp. (SVN), now in its seventh year on the exchange, plans to acquire Tom Beckerman's TCB Corp., a Toronto company doing business as Prodigy Ventures, as its qualifying transaction.

71 Capital will roll back 1:2, leaving it with 2,205,636 postconsolidated shares, and then issue 8,822,542 postconsolidated common shares and 99,253,598 restricted voting shares to the shareholders of TCB, who include Mr. Beckerman, Andrew Kieran, Paul Andrusyshyn and Hussein Vastani. The Toronto company operates Prodigy Labs, a tech consulting business that caters to Canadian banks. The exact activities of Prodigy Labs are a bit of a head-scratcher. The company calls itself a "trusted technology supplier to leading Canadian financial institutions." The only other description of its services resembles a piece of dot-com lingo, stating that Prodigy "provides enterprise clients with technology consulting services and services related to Prodigy Ventures' business platforms." It claims to have three Canadian chartered bank customers but it does not provide any names. It is nonetheless a profitable firm that earned $159,229 on revenue of $2.73-million in the fiscal year ended March 31, 2015. Prodigy lists many other endeavours and "business platforms," which include research and development with a focus on wearables, mobile payments, mobile video and other areas of tech, but so far those areas have generated no revenue.

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