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Shell Summary for Aug. 27, 2020

2020-08-27 20:22 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 2.09 points to 731.96 Thursday. Robert Kiesman's first capital pool shell, Libby K Industries Inc. (LBB: halted), has submitted a filing statement for its qualifying transaction. It is acquiring a Victoria, B.C., cybersecurity firm called Plurilock Security Solutions Inc. The shell will roll back 1 for 2, leaving it with 5.55 million shares issued, then issue 30,645,628 shares to its target's shareholders. Libby's filing statement provides greater detail on Plurilock's operations, including recent financials, as well as salary information for Plurilock's officers.

Plurilock was formed in 2008 and now has about 15 employees. Its two main software products are called 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, around 800 times in a workday. This does not mean that users have to enter their passwords 800 times a day. Plurilock's products mainly analyze behavioural biometrics including keystroke patterns (the pace and rhythm of one's typing), mouse actions, touch screen gestures, physical location, time of day, "the way an individual writes an e-mail" and "how individuals respond to icons on a screen," as Plurilock explains it.

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