Ackroo Inc. (AKR.V) recently released its 2016 second quarter financial results. To keep our readers informed about recent developments, here is a short update covering all the key points.

 

 

 

 

 

 

Highlights:

• On  July  29,  2016,  Ackroo  reported  its  Q2  2016 results,  which  confirmed  steady  progress  in  the  company’s financial performance.
• On  June  8,  2016,  Ackroo  signed  a  strategic partnership with First Data Corporation (NYSE: FDC)  to become the preferred third‐party provider of gift card and loyalty programs for new SMB accounts in Canada.  We  believe  this  partnership  has  the potential to accelerate organic growth significantly.
• On June 9, 2016, Ackroo closed a private placement of $0.20 shares for gross proceeds of $587,316.
• On  August  22,  2016,  Ackroo  launch  a  new  white‐labelled mobile app with Williams Fresh  Cafe in  20  locations in Ontario.
• We  have  updated  our  forecasts  and  lowered  our price  target  to  $0.425  to  account  for  delays  in  our  investment thesis.
• We  expect  the FDC  partnership and  small  bolt‐on acquisitions  to  fuel  at  least  30%  annual  revenue  growth over the next few years.

Q2 2016 Earnings Update: 20160823 – Espace MicroCaps – AKR – Q2 2016 Earnings Update

FY 2015 and Q1 2016 Earnings Update: 20160518-Espace-MicroCaps-AKR-FY2015-and-Q12016-Earnings-Update

Our Initiation Report: 20160421 – Espace MicroCaps – AKR – Initiation Report

 

Disclosure: Philippe and Mathieu own shares of Ackroo Inc. Full disclosure available on page 8 of our update.