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Shell Summary for Oct. 29, 2019

2019-10-29 21:06 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed down 2.73 points to 538.25 Tuesday. Konstantine Tsakumis's first capital pool shell, Farstarcap Investment Corp. (FRS: halted), plans to acquire A4 Systems Corp. for the shell's qualifying transaction. The shell, which has 5.61 million shares issued, will issue 24 million shares to its target's shareholders.

A4 Systems is a tech start-up in Calgary. It is promoting an enterprise software product called Systems Quality Control, which is designed to help businesses with their data acquisition and data analysis. A4 Systems explains that its product can help users to monitor their operations, identify operational trends and point out deficiencies in real time. It adds that it also provides the hardware needed for data collection. It is unclear whether the company has any sales already, but as of Jan. 31, 2019, it did not yet have any sales. On A4 Systems' website, it lists a handful of target sectors as its potential customer base. Among the target customers are marijuana and hemp producers, manufacturing firms, mining companies, and oil and gas companies. It proposes, for example, that its Systems Quality Control product can help oil and gas companies monitor and analyze their pipeline pressure levels and storage tank temperatures.

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