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Shell Summary for June 23, 2020

2020-06-23 20:33 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 9.40 points to 586.84 Tuesday. Robert Kiesman's first capital pool shell, Libby K Industries Inc. (LBB: halted), has released the terms of its qualifying transaction, which is the acquisition of a B.C. cybersecurity company called Plurilock Security Solutions Inc. The shell will roll back 1 for 2, leaving it with 5.55 million shares issued, then issue 23,732,911 shares to its target's shareholders.

Plurilock was formed in 2008 in Victoria. 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. It performs an identity check every three to five seconds, and it locks out a user if he fails the verification tests. Depend and Adapt do not use passwords, authentication codes, fingerprint scans or face scans. Instead, they analyze behavioural biometrics. These include keystroke patterns (the pace and rhythm of one's typing), mouse actions, touch screen gestures, physical location, time of day and ambient light. Plurilock explains that behavioural biometrics also include "the way an individual writes an e-mail," "how individuals respond to icons on a screen" and a person's physical posture.

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