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Shell Summary for June 26, 2019

2019-06-26 20:58 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 1.06 points to close at 580.05 Wednesday. Chris Frostad's first capital pool shell, Victory Capital Corp. (VIC: halted), plans to acquire 1788938 Ontario Ltd., operating as Equinex North America, for the shell's qualifying transaction. The acquisition terms are not yet available. This is the last deal in a string of five new QTs that have been announced in the past week.

Equinex was incorporated in Ontario in 2009. Its main business in the past decade has been racehorse breeding, but now the company is billing itself as a tech firm. It is working on software and hardware for assessing the health and performance of horses. In what appears to be an attempt to make the company more promotable, Equinex is talking up the use of artificial intelligence in developing its horse assessment system.

In connection with a handful of other QTs involving artificial intelligence, we discussed AI in detail in the Shell Summary for May 9, 2019. Essentially, when companies talk up AI, they mean that their software programs are designed to process large volumes of data, "learn" from those data and then make "intelligent" decisions based on those data. Examples of decisions include triggering alarm systems or giving health care recommendations. Presumably, AI systems can make better decisions than humans can, because in theory AI systems make their decisions based on far more information.

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