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Shell Summary for Jan. 20, 2020

2020-01-20 20:40 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange gained 1.41 points to close at 585.91 Monday. Robert Kiesman's first capital pool shell, Libby K Industries Inc. (LBB: halted), plans to acquire Plurilock Security Solutions Inc. for the shell's qualifying transaction. Acquisition terms are not yet available.

Plurilock is a cybersecurity company in Victoria, B.C. It has two software products, Adapt and Defend. Adapt authenticates users when they log in to enterprise systems. Defend authenticates users continually, for as long as they are logged in. Plurilock explains that Defend performs an identity check every three to five seconds, and it locks out a user if he fails the verification tests. Plurilock's website shows the price of Defend, but not Adapt. Customers, that is, businesses rather than individuals, pay $9 (U.S.) per user per month to use Defend. Each customer must pay for at least 100 users.

Plurilock's authentication technology is not based on passwords, authentication codes, fingerprint scans or face scans. Instead, it analyzes what it calls "behavioural biometrics." These include keystroke patterns, mouse actions and touch screen gestures. Plurilock says it is already generating revenue, but it does not yet say how much. We should see its financials when Libby K Industries submits a QT filing statement.

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