Logiq Files Preliminary Prospectus for Proposed Initial Public Offering of Units in Canada

| Press Release

Logiq Files Preliminary Prospectus for Proposed Initial Public Offering of Units in Canada

New York, NY – January 27, 2021 – Logiq, Inc. (“Logiq” or the “Company”) (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has filed a preliminary prospectus (the “Preliminary Prospectus”) with the securities regulatory authorities in each of the provinces of Canada (other than Quebec) for a proposed initial public offering (the “Offering”) of units of the Company (the “Units”).  The number of Units to be sold, the offering price of the Units and the terms of the Warrants (including the exercise price and expiry term) will be determined in the context of the market.

Each Unit will consist of one common share (a “Unit Share”) and one common share purchase warrant of the Company (each, a “Warrant”). Each Warrant is exercisable to acquire one common share of the Company (a “Warrant Share”).

The Offering is being led by Mackie Research Capital Corporation as the sole agent and sole bookrunner.

Logiq recently submitted its application to list its common shares (including the Unit Shares and Warrant Shares) on the NEO Exchange (the “NEO”) in Canada, with the approval subject to Logiq fulfilling the listing requirements of NEO. Upon listing on the NEO, Logiq’s common shares would continue to be traded in the U.S. on the OTCQX Market as LGIQ.

“We are fortunate to have the assistance of Mackie’s experienced and capable team as we take this major step towards completing our NEO listing process,” stated Logiq’s executive chairman and president, Brent Suen. “As a senior exchange, the NEO platform exemplifies how state-of-the-art exchange trading technology can help increase investor confidence, improve liquidity, and elevate a company’s global profile.”

Over the past year, Logiq acquired two leading e-Commerce platforms and expanded its global presence. Its product offerings now extend from mobile commerce and fintech solutions for small-to-medium-sized businesses (“SMBs”) to AI-powered customer acquisition for major enterprises and brands.

Logiq’s customer relationships now range from hundreds of thousands of SMBs around the world to publicly traded Fortune 1000 companies. Among the company’s notable customers are QuinStreet (a marketing technology company), Purple (the creator of the renowned Purple mattress) and Sunrun (a solar company).

The Preliminary Prospectus contains important information relating to Logiq and the Units. The Preliminary Prospectus remains subject to completion or amendment. There will not be any sale or any acceptance of an offer to buy the Units until a receipt for the final prospectus has been issued by the relevant securities regulatory authorities in Canada. A copy of the Preliminary Prospectus can be obtained under Logiq’s corporate profile on SEDAR at www.sedar.com. There can be no assurance that Logiq will satisfy all applicable requirements for listing its common shares on the NEO, that its application for listing will be approved or that a receipt for its final prospectus will be issued.

About Logiq

Logiq, Inc. (OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its DataLogiq subsidiary provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s Fixel™ technology offers simplified online marketing with critical privacy features.

Logiq’s AppLogiq™ platform-as-a-service enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia. The company’s PayLogiq™ offers mobile payments, and GoLogiq™ offers hyper-local food delivery services.

For more information about Logiq, go to Logiq.com.

Forward-Looking Disclaimer

This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections.   This news release also contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation that relate to Logiq’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward‐looking statements regarding Logiq’s proposed NEO listing and its initial public offering of Units.

Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Logiq’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, failure to complete the initial public offering, the impact and progression of the COVID‐19 pandemic and other factors set forth under “Forward‐Looking Statements” and “Risk Factors” in the Preliminary Prospectus, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. Logiq undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Logiq to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

Company Contact

Brent Suen, President
Logiq, Inc.
Email contact

Media & Investor Contact

Ronald Both or Grant Stude
CMA Investor & Media Relations
Tel (949) 432-7566
Email contact


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GlobeNewswire
January 27, 2021 – 7:52 AM PST
News by QuoteMedia
www.quotemedia.com

Logiq Appoints Tech Industry Veteran, Lea Hickman, to Board of Directors

| Press Release
Logiq Appoints Tech Industry Veteran, Lea Hickman, to Board of Directors

NEW YORK, Jan. 07, 2021 (GLOBE NEWSWIRE) — Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has appointed

Lea Hickman

to its board of directors. As an independent director, her appointment increases the board to eight members, with five serving independently.

Hickman is a seasoned technology product strategist with more than 25 years’ experience building and executing go-to-market strategies. She brings to Logiq an extensive record in successful strategy execution while serving in several senior level positions at top technology companies.

She presently serves as a partner at

Silicon


Valley Product Group

, a global product consulting firm where she advises major tech companies and executives. She was previously vice president of product at InVision, a digital product design platform for creating superior customer experiences. She was responsible for establishing the product management structure and best practices for the collaborative design platform.

Before InVision, Hickman was the vice president of consumer business at Adobe Systems, where she was responsible for more than $200 million in business and 20 million Adobe users. At Adobe, she also led product management for all design, web and interactive tools, including Dreamweaver, Flash, InDesign and Illustrator. These products comprised a portfolio totaling $1.2 billion. She developed Adobe’s Creative Cloud concept, which became the driving force that transformed Adobe from a boxed software to one of the industry’s most successful SaaS business models.

“We believe Lea’s wealth of knowledge and global industry experience working with Silicon Valley companies will prove to be extremely beneficial to Logiq as we further develop and execute our go-to-market strategies,” noted Logiq’s CEO, Tom Furukawa. “We have arrived at a critical inflection point in our evolution, especially after acquiring Fixel AI and recently launching a major state-backed micro-lending program in Indonesia. We expect Lea to play an instrumental role in guiding our go-to market strategies as we continue to evolve into a leading global innovator of data-driven consumer intelligence and marketing technology platform. I’m excited to have her on board.”

Prior to Adobe, Hickman was as a senior director of market development at Macromedia and assisted the company in defining go-to market strategies for its emerging, high growth businesses. She also served as vice president of marketing at Catapulse, which was later acquired by Rational Software, where she was responsible for all corporate and marketing functions. She earlier served as the director of product management at Netscape, where her successful repositioning of the product drove annual revenue growth from $12 million to $32 million in one year.

“I’m excited to join Logiq at this pivotal time in its growth and product development,” said Hickman. “The company’s current transition to a data-driven consumer and intelligence marketing company allows it to address the challenges facing the continuously changing landscape of the digital marketing industry. I have served several innovative technology and digital marketing companies, and have assisted with their rollout and structure of a variety of product offerings.

“Logiq’s platforms are uniquely capable of delivering a superior digital marketing solution to providers and consumers alike, and Tom has assembled some of the best minds in the industry to bring it to market. I hope to share my technical experience establishing essential product management structures to Logiq’s innovative eCommerce and fintech solutions.”

Hickman began her career at IBM Corporation as a consultant for its subsidiary, Integrated Systems Solutions Corporation, which provides a broad range of outsourcing services. Hickman was awarded the Technology Excellence Award for the Disney Epcot Innovations Exhibit in Orlando, Florida for her outstanding performance and achievements.

Hickman received her B.A. in Sociology and Social Psychology from Lehigh University and completed the Executive Program for Growth Companies at Stanford University.


About Logiq




Logiq, Inc.


(OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s


PayLogiq


™ offers mobile payments, and


GoLogiq


™ offers hyper-local food delivery services. For more information about Logiq, go to


Logiq.com


.


Forward-Looking Disclaimer


This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq ‘s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, the successful launch and development of Logiq’s partnership with KMSB, including the related pilot programs, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.


Company Contact


Brent Suen, President

Logiq, Inc.


Email contact


Media & Investor Contact


Ronald Both or Grant Stude

CMA Investor & Media Relations

Tel (949) 432-7566


Email contact




Primary Logo


Logiq Begins Next Phase of Micro-Lending Program Designed to Provide Mobile Fintech Services to 5 Million Contract and Delivery Drivers

| Press Release
Logiq Begins Next Phase of Micro-Lending Program Designed to Provide Mobile Fintech Services to 5 Million Contract and Delivery Drivers

NEW YORK, Dec. 18, 2020 (GLOBE NEWSWIRE) — Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has begun the next phase of its previously

announced

mobile micro-lending platform in an exclusive strategic alliance with Koperasi Mona Santoso Berjaya (KMSB).

The next phase involves the rollout of a new mobile fintech platform for 5 million contract and delivery drivers of


Garda Digital Indonesia


, a membership organization overseen by


Badan




Perlayanan




Jaminan




Sosial




Ketenagakerjaan


(BPJSTK). BPJSTK manages the pensions and health benefits for these members. The new fintech platform will make microloans available to the members for personal or business use, such as purchasing, configuring or repairing their mobile vehicles.

This follows the initial phase where Logiq and KMSB recently


launch




ed




a pilot program


to provide mobile micro-lending and related services targeting 6,000 government body employees who will be able to borrow up to 20% of their annual salary.

Under the exclusive alliance, Logiq and KMSB are developing a jointly owned and operated mobile fintech platform designed to deliver mobile financial services in Indonesia. Logiq, through its Indonesian operations, is providing the platform design and technology, management, ongoing hosting and technical support. KMSB is providing the professional and financial institutional relationships that will drive the microlending program. The partners are working together to launch a new marketing and advertising campaign that will encourage adoption and regular use of the mobile fintech offerings.

Through the new fintech platform, KMSB will provide micro-lending services to government, state-owned enterprises and member organizations registered with BPJSTK. As part of managing the pensions and health benefits for contract and delivery driver members, BPJSTK serves as the social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with a combined total of 48 million individual members.

The mobile fintech platform will eventually be introduced to BPJSTK’s 48 million members and 600,000 SMBs, as well as through affiliated organizations such as Mentalku, which supports the motor vehicle license administration, and Sehatku, a medical clinic organization network. Members will also be able to access Logiq’s


PayLogiq


™ e-Wallet and


GoLogiq


™ hyper-local food delivery mobile platforms.

“Beginning the next phase of the program represents another major step towards improving the lives of nearly 20% of the Indonesian people who do not have access to traditional financial services,” said Brent Suen, president of Logiq.

Finch Capital, a thematic VC in financial technology, recently


reported


the impact of the COVID-19 pandemic is accelerating the digital adoption of financial services and created increasing demand for contactless digital banking services across Southeast Asia. According to

SGE

, Indonesia’s fast-growing digital financial services market is projected grow at a compounded annual rate of 34% to reach US$8.6 billion by 2025.

“Fueled by these powerful market trends, our opportunities for new revenue streams from microlending, mobile payments, and our eCommerce solutions with this enormous user base are tremendous,” continued Suen. “We see this potentially generating tens of millions of dollars in revenue annually for the benefit of our shareholders once our alliance with KMSB is fully launched, as well as through additional important programs that KMSB is planning to introduce.”

Logiq and KMSB plan to complete the official launch of the new mobile fintech platform for drivers of Garda Digital Indonesia by the second quarter of 2021. Logiq plans to begin marketing subscriptions to AppLogiq in the first quarter of 2021 and sees a 30% penetration of BPJSTK’s SMB membership base by the end of the year.


About Koperasi Mona Santoso Berjaya


In these recessionary times and the era of a pandemic, KMSB was formed as a national economic movement and business entity that is able to participate in maintaining and improving the quality of life for all Indonesians and increase the competitiveness of domestic production. KMSB is engaged in savings and loans for generating new opportunities for Indonesian workers, and is dedicated to building a reliable distribution network for consumers that addresses their needs at a fair price. KMSB helps to create new economic opportunities for its members.


About Logiq




Logiq, Inc.


(OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s


PayLogiq


™ offers mobile payments, and


GoLogiq


™ offers hyper-local food delivery services. For more information about Logiq, go to


Logiq.com


.


Forward-Looking Disclaimer


This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq ‘s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, the successful launch and development of Logiq’s partnership with KMSB, including the related pilot programs and phases, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.


Company Contact


Brent Suen, President

Logiq, Inc.



Email contact


Media & Investor Contact


Ronald Both or Grant Stude

CMA Investor & Media Relations

Tel (949) 432-7566



Email contact




Primary Logo


Logiq Launches Pilot Program to Provide Mobile Fintech Services in Exclusive Strategic Alliance with Indonesian National Cooperative, KMSB

| Press Release
Logiq Launches Pilot Program to Provide Mobile Fintech Services in Exclusive Strategic Alliance with Indonesian National Cooperative, KMSB

NEW YORK, Nov. 18, 2020 (GLOBE NEWSWIRE) —  Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has launched its previously announced micro-lending pilot program in an exclusive strategic alliance with the country’s social security program provider, Koperasi Mona Santoso Berjaya (KMSB).

Logiq and KMSB have agreed to jointly own and operate a new mobile fintech platform that will deliver mobile financial services. Logiq, through its Indonesian operations, will provide platform design and technology, management, ongoing hosting and technical support. KMSB will provide the financial institutional relationships for enabling the microlending program. The partners will then work together to launch a new marketing and advertising campaign that will encourage adoption and regular use of the mobile fintech offerings.

Using the new fintech platform, KMSB will provide micro-lending services to

Badan Perlayanan Jaminan Sosial Ketenagakerjaan

(BPJSTK), the social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with a combined total of 48 million individual members.

The pilot program will provide mobile micro-lending and related services to 6,000 BPJSTK employees who will be able to borrow up to 20% of their annual salary.

“Our pilot launch is a first major step towards improving the lives of nearly 20% of the Indonesian population who do not have access to traditional financial services,” stated Logiq president, Brent Suen. “Since we first announced this effort, we have engaged key financial institutions for enabling the micro-lending program, with this allowing us to begin the pilot launch.”

Following the pilot program, the next phase will involve rolling out the program to 5 million contract/delivery drivers of

Gard


a Digital Indonesi


a

, a membership organization overseen by BPJSTK that handles pensions and health benefits for ride sharing drivers. Microloans will be made available to these members for personal or business use, such as purchasing, configuring, or repairing their mobile vehicles.

Upon successful completion of the pilot, the program will be introduced to all BPJSTK’s 48 million members and 600,000 SMBs. They will also gain access to Logiq’s increasingly popular


PayLogiq


™ e-Wallet and


GoLogiq


™ hyper-local food delivery mobile platforms.

“We see many opportunities for creating new revenue streams from micro-lending, mobile payments, and our eCommerce solutions once our alliance with KMSB is fully launched,” added Suen.

PayLogiq (branded as AtozPay™ in Indonesia) allows users to top-up their phone, pay bills and make other financial transactions. Member SMBs will also be introduced to Logiq’s award-winning mobile app creation platform, AppLogiq™ (aka CreateApp™), giving them the ability to easily create a mobile presence with eCommerce and fintech functionality without technical knowhow or background. Logiq and KMSB plan to begin marketing subscriptions of AppLogiq to SMBs in the first quarter of 2021, and they expect to achieve 30% penetration of BPJSTK’s SMB membership by the end of the year.

Logiq and KMSB expect their new strategic alliance to benefit from Indonesia’s fast-growing digital financial services market, which is projected by

S


G


E

to grow at a compounded annual rate of 34% to reach US$8.6 billion by 2025.


About


Koper


as


i


Mona


Santoso


Berjaya


In these recessionary times and the era of a pandemic, KMSB was formed as a national economic movement and business entity that is able to participate in maintaining and improving the quality of life for all Indonesians and increase the competitiveness of domestic production. KMSB is engaged in savings and loans for generating new opportunities for Indonesian workers, and is dedicated to building a reliable distribution network for consumers that addresses their needs at a fair price. KMSB helps to create new economic opportunities for its members.


About


BPJS


Ketenagakerjaan


Badan PenyelenggaraJaminan Sosial (BPJS) Ketenagakerjaan is a public legal entity whose duty is to protect all workers through national social security programs and encourage their participation. Established by the government of Indonesia, BPJS develops and administers worker compensation, retirement, and pension benefits, as well as housing and shopping discount programs for approximately 48 million citizens and 600,000 small- and medium-sized businesses. BPJS is committed to protecting and making prosperous all workers and their families, enhancing productivity and competitiveness of businesses and employees, and supporting national economic development and self-reliance. To learn more, go to

www.bpjsketenagakerjaan.go.id/en

.


About Logiq




Logiq, Inc.


(OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s


PayLogiq


™ offers mobile payments, and


GoLogiq


™ offers hyper-local food delivery services. For more information about Logiq, go to


Logiq.com


.


Forward-Looking Disclaimer


This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq ‘s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, the successful launch and development of Logiq’s partnership with KMSB, including the related pilot programs, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.


Company Contact


Brent Suen, President

Logiq, Inc.


Email contact


Media & Investor Contact


Ronald Both or Grant Stude

CMA Investor & Media Relations

Tel (949) 432-7566


Email contact




Primary Logo


Logiq Reports Q3 2020 Results, with Nine Month Revenues up 27% to $31.3 Million

| Press Release
Logiq Reports Q3 2020 Results, with Nine Month Revenues up 27% to $31.3 Million

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) —

Logiq, Inc.

(OTCQX: LGIQ) (formerly Weyland Tech), a global provider of award-winning eCommerce and Fintech solutions

,

reported results for the three and nine months ended September 30, 2020. All quarterly and nine-month comparisons are to the same year-ago period unless otherwise noted.


Financial Highlights

  • Revenue in Q3 totaled $7.0 million, declining 22% primarily due to the impact of the COVID-19 pandemic on SMB customers using the company’s AppLogiq mobile app platform-as-as-service, which was partially offset by increased revenue from DataLogiq consumer data management platforms.
  • Revenue for the nine months ended September 30, 2020 increased 27% to $31.3 million.
  • Consolidated gross profit for the first nine months of 2020 increased 14% to $5.0 million or 15.9% of consolidated revenue.
  • Cash and cash equivalents and restricted cash totaled $4.8 million at September 30, 2020 versus $3.9 million at June 30, 2020.


Q


3


20


20


Operational


Highlights

  • Rebranded the company as Logiq, Inc., reflecting the company-wide evolution from primarily an eCommerce products and services company to a leading innovator of data-driven consumer intelligence and marketing technology.
  • Entered an agreement to acquire Fixel AI, leading innovator in AI-powered digital marketing technology, which was completed earlier this month. Fixel furthers Logiq’s goal of adding simplified marketing and critical privacy features to the company’s AI-powered consumer intent engine designed for brands and premium publishers.
  • Partnered with Yabx, a fintech venture of Comviva and part of $6.2 billion Tech Mahindra, to offer credit-based financial services offered through Logiq’s increasingly popular PayLogiq™ e-wallet and GoLogiq™ hyper-local food delivery platforms.
  • Increased beneficial stake in the company’s Weyland Indonesia Perkasa (WIP) subsidiary from 31% to 51%, which will allow the future consolidation of its revenue. WIP is the Southeast Asia operator of the company’s GoLogiq food delivery service and PayLogiq mobile e-wallet.
  • Partnered with

    ShopeePay

    , Indonesia’s integrated e-money services, to launch a new marketing campaign for Weyland’s fast-growing

    AtozGo™

    food delivery service in Jakarta.
  • Launched new

    digital marketing campaign

    in Taiwan and Indonesia for AppLoqiq (branded as CreateApp in these markets). The launch in Indonesia follows a successful pilot of a new marketing program completed in Taiwan that resulted in a marketing ROI of 3-to-1.
  • Promoted Tom Furukawa to chief executive officer of Logiq, succeeding Brent Suen, who was appointed executive chairman and continues to serve as president. Furukawa brings to the position extensive senior-level experience with creating and delivering cutting-edge digital marketing technologies for top international brands. Over the last 26 years, he has served in senior level management roles for some of the world’s most successful major companies, like Yahoo!, IBM Tivoli, and The Rubicon Project.
  • Appointed former Omnicom and Yahoo! senior executive, Josh Jacobs, to the company’s board of directors. His appointment increased the board to seven members, with four serving as independent directors. Jacobs is a highly accomplished technology executive with 30 years of innovation in digital media and advertising, sales and marketing, and strategic business and consumer product development.
  • Began the process to have the company’s common shares listed on the

    NEO Exchange

    (NEO), Canada’s next-generation stock exchange. A listing on the NEO, which is subject to Logiq fulfilling NEO’s listing requirements, also presents an opportunity to eventually list on the NYSE American exchange, and become dual-listed on recognized exchanges in both Canada and the U.S.


Management Commentary

“Q3 was another exciting and event-filled quarter for Logiq, which included the roll out of a whole new look and brand,” commented company president, Brent Suen. “Our new name reflects the transformation of our company that began at the beginning of this year with the acquisition of our fast-growing eCommerce technology platform, now branded DataLogiq.

“Our overall offerings now extend from mobile commerce and fintech solutions for small- and medium-sized businesses or SMBs, to AI-powered, SaaS-based, customer acquisition for major enterprises and brands.

“Our customer relationships now range from hundreds of thousands of SMBs around the world to publicly traded Fortune 500 companies. Our marquee clients now include Cox Automotive (owners of Kelly Blue Book and Auto Trader), Home Advisor, QuinStreet and Sunrun, and the recent addition of an eCommerce brand Purple, the creator of the renowned Purple Mattress.

“The transformation also involved the streamlining during the third quarter of our various brands and business units into two business segments: DataLogiq and AppLogiq.

“DataLogiq’s data engine uses proprietary methodologies and AI systems to deliver valuable consumer insights that can dramatically enhance the effectiveness, reach, and ROI of online marketing spend for enterprises and major brands. Alongside DataLogiq is our new Fixel AI technology unit that offers simplified online marketing with critical privacy features.

“Our AppLogiq mobile Commerce platform-as-a-service enables small-and-medium sized businesses (SMBs) worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. Now as part of our AppLogiq mobile platform is our PayLogiq fintech and GoLogiq delivery services that have become magnets of interest by potential partners due to the deep consumer data both have been acquiring since their inception.

“A few weeks ago, we were selected to provide mobile microlending and related services to 48 million Indonesians and more than 600,000 businesses in an exclusive strategic alliance with the country’s social security program provider, KMSB. To put the opportunity in perspective, through our Indonesian operations, we currently have 36,000 SMBs and 130,000 individual customers. But we’ve now have gained access to an exponentially larger base of new customers who are a captive audience of KMSB.

“The opportunities for new revenue streams from microlending, mobile payments, and our eCommerce solutions with this enormous user base are also phenomenal, potentially generating tens of millions of dollars of revenue annually once the alliance with KMSB is fully launched.   As we continue to attract additional major global partners like KMSB, ShopeePay and TechMahindra, we see ourselves at just the beginning of a long-term acceleration in this key segment of our global business operations.

“This new diversification of our revenue sources has allowed us to weather the pandemic storm perhaps better than others. In emerging markets where we’ve had a specific focus with AppLogiq, the micro and small businesses there pay a monthly subscription that represents a fair percentage of their monthly income. Because of the economic impact of COVID-19, for many, it became difficult to justify the expense without measured results from their nascent mCommerce activities. So, we made the decision to provide a low-no-cost solution to them for 1-3 months to keep them on board. This has naturally impacted our results over the near-term, but we believe it will be good for long term growth.

“Such proactive steps demonstrate how our Logiq teams have remained execution focused to mitigate the effects of the global pandemic on our business. For AppLogiq, this has also meant using these challenging times as an opportunity to transition away from lower margin service offerings marketed through distributors to more direct, B2B, higher margin business. Under this new direction, we see AppLogiq’s gross margins increasing from around 17% to 35% – 40%, which is more in line with a true platform-as-a-service offering.

“As we get past the pandemic with the advent of the vaccine that is reportedly rolling out over the next few months, 2021 could well be our most profitable year for AppLogiq, especially as we extend its direct market reach through the new partnerships we’ve announced over last few months. For DataLogiq, adapting to the changes in the marketplace has meant introducing a new SaaS revenue stream per the recent acquisition of Fixel AI. DataLogiq’s ability to adapt to changing environments and consumer demands has helped it navigate and overcome today’s unprecedented challenges.

“Our planned listing on the NEO exchange continues well on course. NEO’s investor-first approach to trading represents the next evolution in capital market transactions, and it currently accounts for 30% of the total trading volume in Canada. Why Canada? Canada is home to one of our best peers, Shopify, and just about every individual or institutional investor there is familiar with SHOP and has participated in its dramatic rise.

“As a global, fast-growing company, our listing on NEO presents a great opportunity to increase awareness of Logiq in the North American investment community. A listing on the NEO also presents an opportunity to eventually dual-list our stock on the NYSE American through a special relationship NEO has with the NYSE.

“The second half of this year is appearing to be a pivotal period for us overall, as we begin transitioning away from lower margin services to focus on higher margin offerings and opportunities. We have executed well by adjusting and finding opportunities under the pandemic and believe this demonstrates the resiliency of our business model.

“In all, and despite a tumultuous year of challenges and setbacks created by the global pandemic, we have been able to transform Logiq into a global provider of a full range of eCommerce solutions for companies of all sizes. This has put us on course for strong growth in 2021 and beyond with more diversified, high-margin revenue streams derived from the strongest segments of our industry. Combined with our DataLogiq and Fixel acquisitions, we remain on track to end 2020 with record revenue at more than $38 million, and with margins expanding across all business segments.”


Q


3


20


20


Financial Summary

Revenue decreased 22% to a $7.0 million in the third quarter of 2020, as compared to $9.0 million in the same year-ago quarter, with the decrease largely due to the impact of COVID-19.

The company’s AppLogiq mCommerce platform-as-as-service (PaaS) contributed $3.2 million or 45.6% of consolidated revenue in the third quarter, which decreased 64% from $9.0 million or 100% of consolidated revenue in the same year-ago period. The decrease was primarily due to the impact of the COVID-19 pandemic, and the resulting lockdown of commercial businesses and stay-at-home orders. The company has focused on its direct sales business as part of its plan to increase its margin profile and align with other PaaS companies. As part of this focus, the company is expected to have lower top-line revenue, but higher margins on a going-forward basis.

Gross profit decreased 30% to $1.1 million or 15.8% of revenue in Q3 2020 from $1.6 million or 17.7% of revenue in the same year ago quarter. The decrease in gross profit and margin resulted primarily from the aforementioned impact of the COVID-19 pandemic.

Total operating expenses increased 47% to $4.0 million in Q3 2020 from $2.7 million in the same year ago period. The increase was primarily due to the addition of $1.0 million in general and administrative expenses for the DataLogiq operations acquired in January, and an increase in sales and marketing expenses, which was partially offset by a reduction in general and administrative expenses related to the AppLogiq platform.

Net loss was $2.9 million or $(0.23) per basic and fully diluted share in Q3 2020, compared to net loss of $1.1 million or $(0.19) per basic and fully diluted share in the same year-ago period.

At September 30, 2020, cash and cash equivalents totaled $4.8 million, compared to cash and cash equivalents of $3.9 million at June 30, 2020. The increase was primarily the result of proceeds from financing activities.


9M


2020


Financial Summary

Revenue increased 27% to a record $31.3 million for the first nine months of 2020, as compared to $24.6 million in the same year-ago period. The increase in revenues for the nine-month period was attributed to the revenue contributions from DataLogiq of $10.7 million.

Gross profit increased 14% to $5.0 million or 15.9% of revenue for first nine months of 2020 compared to $4.4 million or 17.7% of revenue in the same year ago period.

Total operating expenses increased 68% to $12.1 million for first nine months of 2020 from $7.2 million in the same year ago period. The increase was primarily due to an increase in general and administrative expenses to $6.3 million compared to $3.5 million in the same year ago period.

Net loss was $7.4 million or $(0.60) per basic and fully diluted share in the first nine months of 2020, compared to net loss of $2.8 million or $(0.69) per basic and fully diluted share in the same year-ago period.


Conference Call

Logiq management will host the call, followed by a question and answer period.

Date: Monday, November 16, 2020

Time: 1:00 p.m. Eastern time (10:00 a.m. Pacific time)

Toll-free dial-in number: 1-866-548-4713

International dial-in number: 1-323-794-2093

Conference ID: 9608741

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 4:00 p.m. Eastern time on the same day through Monday, November 30, 2020, as well as available for replay via the Investors section of the Logiq website at

weyland-tech.com/


ir


/

.

Toll-free replay number: 1-844-512-2921

International replay number: 1-412-317-6671

Replay ID: 9608741


About Logiq



Logiq, Inc.

(OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s

PayLogiq

™ offers mobile payments, and

GoLogiq

™ offers hyper-local food delivery services. For more information about Logiq, go to

Logiq.com

.


Forward-Looking Disclaimer


This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq ‘s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.


Company Contact


Brent Suen, President

Logiq, Inc.


Email contact


Media & Investor Contact


Ronald Both or Grant Stude

CMA Investor & Media Relations

Tel (949) 432-7566


Email contact



LOGIQ INC.



Consolidated Balance Sheets


September 30


December 31


2020


2019


(Unaudited)


(Audited)


ASSETS

Non-current assets
Intangible assets, net 7,657,848 611,598
Property and equipment, net 190,202
Goodwill 4,781,208

Total non-current assets
12,629,258 611,598

Current assets
Amount due from associate 5,023,700 2,825,700
Accounts receivable 1,567,852
Other amount recoverable 49,550 549,550
Prepayment, deposit and other receivables 121,723 1,641,684
Financial assets held for resale 996,414 2,730,363
Cash and cash equivalents 4,847,284 2,972,649

Total current assets
12,606,523 10,719,946

Total assets
$ 25,235,781 $ 11,331,544

Liabilities and Stockholders’ Equity

Current liabilities
Accounts payable 961,310
Accruals and other payables 917,571 298,453
Deposits received for shares to be issued 2,235,184
Convertible promissory notes 2,911,000
Amount due to director 77,500 77,500

Total current liabilities
7,102,565 375,953

Non-current liabilities
Other loan 10,000
Bank loan 500,000
Notes payable 503,700

Total non-current liabilities
513,700 500,000

Total liabilities
$ 7,616,265 $ 875,953

Stockholders’ Equity
Common stock, $0.0001 par value, 250,000,000 shares authorized, 13,205,355 and 8,561,704 shares issued and outstanding as of September 30, 2020 and December 31, 2019 respectively* 17,167 11,130
Additional paid-in capital 58,301,051 58,058,118
Capital reserves 14,282,143
Accumulated deficit carried forward (54,980,845 ) (47,613,657 )

Total shareholders’ equity
17,619,516 10,455,591

Total liabilities and stockholders’ equity
$ 25,235,781 $ 11,331,544

* The number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020



LOGIQ INC.



Consolidated Statements of Operations


For the three months ended



September 30,


For the nine months ended



September 30,


2020


2019


2020


2019


(Unaudited)


(Unaudited)


(Unaudited)


(Unaudited)

Service Revenue $ 7,030,305 $ 8,996,441 $ 31,326,759 $ 24,630,065
Cost of Service 5,919,848 7,399,583 26,351,514 20,258,258

Gross Profit
1,110,457 1,596,858 4,975,245 4,371,807
Operating Expenses
General and administrative 1,968,763 1,557,960 6,346,531 3,479,751
Research and development 1,018,389 1,126,165 3,681,162 3,236,713
Sales and marketing 544,970 697,190 389,610
Depreciation and amortization 455,424 25,483 1,354,674 76,450

Total Operating Expenses
3,987,546 2,709,609 12,079,557 7,182,524

(Loss) from Operations
(2,877,089 ) (1,112,751 ) (7,104,312 ) (2,810,717 )
Other Expenses 2,868 306,997
Other Income 1,408 32,094 44,121 32,094
Other income/(expenses),net (1,460 ) 32,094 (262,876 ) 32,094
Net (Loss) before income tax (2,878,549 ) (1,080,657 ) (7,367,188 ) (2,778,623 )
Income tax (Corporate tax)

Net (Loss)
$ (2,878,549 ) $ (1,080,657 ) $ (7,367,188 ) $ (2,778,623 )

Net (loss) profit per common share – basic and fully diluted
$ (0.2257 ) $ (0.1937 ) $ (0.6037 ) $ (0.6892 )

Weighted average number of basic and fully diluted common share outstanding*
12,753,230 5,578,806 12,203,769 4,031,809

* The weighted average number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020




Primary Logo


Logiq Appoints Silicon Valley MarTech Senior Executive, Steven J. Hartman, as Chief Product Officer and Makes Other Key Appointments

| Press Release
Logiq Appoints Silicon Valley MarTech Senior Executive, Steven J. Hartman, as Chief Product Officer and Makes Other Key Appointments

NEW YORK, Nov. 10, 2020 (GLOBE NEWSWIRE) —

Logiq, Inc.

(OTCQX: LGIQ), a global provider of award-winning eCommerce and Fintech solutions, has appointed and promoted four executives to new or existing positions.

  • Steven J. Hartman has joined Logiq as its new chief product officer, succeeding Eddie Foong.
  • Foong has been appointed to the new position of vice president of product for

    AppLogiq

    , Logiq’s award-winning mobile app builder, which he has been overseeing for several years.
  • Daniel Urbino has been promoted to chief operating officer of Logiq, succeeding John MacNeil. Urbino previously served as chief operating officer of

    DataLogiq

    , a leading e-Commerce platform

    acquired

    by Logiq in January of this year.
  • MacNeil has been appointed to the new position of chief of staff of Logiq and will continue to serve as company director. He will be responsible for ensuring success in all areas of the company’s operations, particularly those involving cross-functional, organization-wide activities. He will also be involved in identification, execution, and integration of M&As in collaboration with the company’s business units and finance teams.

“These new appointments and promotions better position us for continued rapid growth and global expansion,” stated Logiq CEO, Tom Furukawa. “They reflect our continued evolution from primarily an eCommerce services company to a leading global innovator of data-driven consumer intelligence and marketing technology platform with operations around the world.”

“Steve’s global marketing technology experience will play an important role in helping us achieve the full potential of new major industry partnerships, like our recently

announced

exclusive strategic alliance with KMSB and new

partnership

with ShopeePay,” added Furukawa. “His deep experience in enterprise software and marketing technology will also play a critical role with integration after we complete our acquisition of Fixel AI, a leading innovator in AI-powered digital marketing technology.”

Hartman commented: “I’m excited to join the leadership team at Logiq at this pivotal time in the company’s global growth and development. I look forward to further strengthening our product and marketing technologies companywide that now cover the full spectrum, from mobile commerce and fintech solutions for micro-, small- and medium-sized businesses to AI-powered customer acquisitions for major enterprises and brands.”


Executive Bios


Steven J. Hartman

is a product and marketing executive with over 25 years of experience in enterprise software and marketing at major technology companies, including Yahoo!, IBM, Acxiom, Kenshoo, The Rubicon Project, and Siebel Systems.

He served as vice president of global marketing at Kenshoo, a digital advertising platform that connects marketers and customers across search, social and e-Commerce channels. For Kenshoo, he instituted marketing programs that increased topline growth, reduced marketing spend and grew the bottom line. Prior to Kenshoo, he served as vice president of marketing at Viglink (now Sovrn), an outbound-traffic monetization service for publishers, forums, and bloggers.

He served as vice president of product marketing at Acxiom (now LiveRamp Holdings), a SaaS-based data connectivity platform. At Acxiom, he co-led product positioning and awareness of the LiveRamp acquisition, a data connectivity platform acquired by Acxiom. Before Acxiom, he served as vice president of marketing at The Rubicon Project, where he led its global marketing.

He held several senior level product and marketing roles at Yahoo! and IBM. At Yahoo!, he managed a product management team that successfully launched and grew the company’s display advertising platform. At IBM, he developed and executed multi-touch marketing campaigns for Tivoli’s line of J2EE-based solutions that generated $285 million in annual revenue.

An accomplished MarTech innovator, Hartman is named on several technology patents covering programmatic advertising, private exchange, and inventory ad tagging innovations. He holds a Bachelor of Science with Honors in Industrial Engineering from Purdue University.


Eddie Foong

has over 17 years of experience in IT, sales and marketing and operations. He was CTO at a RFID technology company that developed and changed Singapore National Library Books borrowing system island-wide. He is also an IBM Award recipient and holds a Bachelor of Engineering, first-class honors, from University of Strathclyde, U.K.


John MacNeil

has more than 30 years of experience in the financial services and technology industries. He has advised technology, financial technology and renewable energy companies on strategic relationships, financial forecasting, investor relations and capital formation. He previously served as a portfolio manager for technology funds at Schroders Investment Management. He holds a Bachelor of Electrical Engineering from University of Connecticut and an MBA from Columbia Business School.


Daniel Urbino

has over a decade of experience in corporate finance and accounting, strategy and operations, working with startups to large publicly traded companies with over $2 billion in annual revenue. Prior to Loqiq, Urbino served as chief operating officer of ConversionPoint Technologies, a leading eCommerce technology platform for direct-to-consumer performance marketing, where he played a key role in several M&A transactions including the sale of two subsidiaries. Prior to ConversionPoint, Urbino served in a senior leadership role for a division of VCA that was responsible for approximately $400 million in annual revenue. He holds a Bachelor of Arts from the University of California, Santa Barbara and an MBA from the University of Southern California. He is a certified public accountant in the State of California.


About Logiq



Logiq, Inc.

(OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s

PayLogiq

™ offers mobile payments, and

GoLogiq

™ offers hyper-local food delivery services. For more information about Logiq, go to

Logiq.com

.


Forward-Looking Disclaimer


This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq ‘s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.


Company Contact


Brent Suen, President

Logiq, Inc.


Email contact


Media & Investor Contact


Ronald Both or Grant Stude

CMA Investor & Media Relations

Tel (949) 432-7566


Email contact


Primary Logo


Logiq Completes Acquisition of Fixel AI, Leader in AI-Powered Digital Marketing Technology

| Press Release
Logiq Completes Acquisition of Fixel AI, Leader in AI-Powered Digital Marketing Technology

NEW YORK, Nov. 05, 2020 (GLOBE NEWSWIRE) — Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and Fintech solutions, has completed its previously

announced

plan to acquire

F


ixel


AI

, an award-winning innovator of AI-powered digital marketing technology.

The acquisition of Fixel furthers Logiq’s goal of adding simplified marketing and critical privacy features to its AI-powered consumer intent engine designed for brands and premium publishers.

“Fixel empowers marketing teams to optimize their campaigns in a customized way unlike any other marketing segmentation and retargeting solution on the market today,” stated Logiq CEO, Tom Furukawa. “This unique technology greatly complements and enhances our

Logiq

AI-powered consumer intent engine, which captures and directs consumers from multiple sources who are in the market to purchase a particular product or service. We have begun to introduce Fixel to our customer base of enterprises and major brands, and are already seeing a strong positive response.”

The addition of Fixel helps Logiq customers address the changing landscape of online marketing. Many marketers still use vendors who rely on third-party cookies to understand shopping behavior on and off their site. However, new internet privacy rules, like those being promulgated by California’s Consumer Privacy Act (CCPA), are making this practice increasingly risky and less viable.

Major web browsers have also begun to limit third-party data collection. Safari and Firefox now block third-party tracking cookies by default. Google

says

its Chrome browser and search engine will end support of this type of user tracking by 2022. Industry watchers are heralding the phase-out as the





death of the third-party cookie



.”

“The marketing and advertising industry is headed for a perfect storm created by these new privacy restrictions and a post COVID-19 world,” noted Fixel co-founder and CEO, Etgar Shpivak, who will head up Logiq’s new Fixel unit. “As Google and Apple increasingly restrict access to users, and with the pandemic driving more online website traffic but from visitors without any true buying intent, companies are being forced to find better ways to maximize their return on ad spend.”

This confluence of events is creating a need for a simple and automated marketing solution that allows marketers to regain their advantage in a new privacy-based world. According to Shpivak: “Teaming with Logiq has made our combined solution exponentially more powerful for the benefit of both current and prospective customers, and especially how it effectively addresses the challenges around privacy.”

Fixel works strictly with first-party data and helps marketers comply with privacy regulations like CCPA by harnessing the power of AI. Using advanced proprietary methods, Fixel automatically processes and analyzes user interactions in real-time on an eCommerce or brand website. Its automatic scoring system helps marketing teams identify audiences with high purchase intent even when this is not readily revealed by their on-site activity, like simply adding an item to a cart.

By identifying the most engaged visitors with the highest purchase intent, Fixel helps to avoid budget wasted on low-quality traffic that has little probability of buying. Marketers can build effective retargeting campaigns focused on the visitors with the highest intent for making a purchase, create personalized and more engaging messaging, and buy media more effectively.

Cheryl DeGrasse, vice president of acquisition and retention at Purple, the creator of the renowned Purple

®

Mattress, also recognizes how marketers must adapt to the changing rules of online marketing: “We chose to work with Fixel because they provide the ideal first-party data solution we needed. They are helping us adhere to the new privacy regulations and lessen our worry about the demise of third-party cookies. As a growing D2C brand, we appreciate how Fixel helps us compete for audiences against brands with larger budgets. This allows us to focus on shoppers with higher intent to purchase across all of our media partners.”

Ehud Basis, who heads up growth marketing at Outbrain, the official content recommendation network for publishers like CNN and NY Post, has also experienced the power of Fixel first-hand: “Fixel enables us to pinpoint our targeting and focus our marketing spend on the most engaged users across our Outbrain network, as well as with our presence on Facebook, Google and other sites. It’s amazing how it automatically identifies people with the highest probability of making a purchase. We can then focus on them specifically, saving considerable resources and time.”

The power and unique capabilities of Fixel’s digital marketing technology has also been recognized by

Techstars

and

Plug and Play

, two of the leading startup programs in the U.S.

Logiq’s acquisition of Fixel could not be timelier. The global market for platforms like Logiq is expected to rise dramatically over the next few years. According to a

PwC study

, 72% of marketers consider AI a “business advantage.” This increasingly common viewpoint is likely to be one of the greatest drivers of the growth in the market for global marketing automation software, which is

expected

to exceed $14.1 billion by 2024, growing at a compounded annualized growth rate of 19.2%.

For more about Fixel, visit

fixel.ai

.


About Logiq




Logiq, Inc.


(OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its DataLogiq subsidiary provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s Fixel™ technology offers simplified online marketing with critical privacy features.

Logiq’s AppLogiq™ platform-as-a-service enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia. The company’s


PayLogiq


™ offers mobile payments, and


GoLogiq


™ offers hyper-local food delivery services.

For more information about Logiq, go to


Logiq.com


.


Forward-Looking Disclaimer


This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq ‘s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, the successful integration of Fixel AI, the expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

Trademarks are the property of their respective owners.


Company Contact


Brent Suen, President

Logiq, Inc.


Email contact


Media & Investor Contact


Ronald Both or Grant Stude

CMA Investor & Media Relations

Tel (949) 432-7566


Email contact


Primary Logo


Logiq Sets Third Quarter 2020 Earnings Conference Call for Monday, November 16, 2020 at 1:00 p.m. ET

| Press Release
Logiq Sets Third Quarter 2020 Earnings Conference Call for Monday, November 16, 2020 at 1:00 p.m. ET

NEW YORK, Oct. 29, 2020 (GLOBE NEWSWIRE) — Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and Fintech solutions, will hold a conference call on Monday, November 16, 2020 at 1:00 p.m. Eastern time to discuss results for the third quarter ended September 30, 2020. The financial results will be issued in a press release prior to the call.

Logiq management will host the call, followed by a question and answer period.

Date: Monday, November 16, 2020

Time: 1:00 p.m. Eastern time (10:00 a.m. Pacific time)

Toll-free dial-in number: 1-866-548-4713

International dial-in number: 1-323-794-2093

Conference ID: 9608741

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 4:00 p.m. Eastern time on the same day through Monday, November 30, 2020, as well as available for replay via the Investors section of the Logiq website at

weyland-tech.com/


ir


/

.

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About Logiq




Logiq, Inc.


(OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s


PayLogiq


™ offers mobile payments, and


GoLogiq


™ offers hyper-local food delivery services. For more information about Logiq, go to


Logiq.com


.


Company Contact


Brent Suen, President

Logiq, Inc.


Email contact


Media & Investor Contact


Ronald Both or Grant Stude

CMA Investor & Media Relations

Tel (949) 432-7566


Email contact


Primary Logo


Logiq to Provide Mobile Fintech Services to 48 Million Indonesians and 600,000 Businesses in Exclusive Strategic Alliance with National Cooperative, KMSB

| Press Release
Logiq to Provide Mobile Fintech Services to 48 Million Indonesians and 600,000 Businesses in Exclusive Strategic Alliance with National Cooperative, KMSB

NEW YORK, Oct. 28, 2020 (GLOBE NEWSWIRE) — Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has been selected to provide mobile microlending and related services to 48 million Indonesians in an exclusive strategic alliance with the country’s social security program provider, Koperasi Mona Santoso Berjaya (KMSB).

Logiq and KMSB have agreed to jointly own and operate a new mobile fintech platform that will deliver mobile financial services. Logiq, through its Indonesian operations, will provide platform design and technology, management, ongoing hosting and technical support. KMSB will provide the financial institutional relationships for enabling the microlending program.

Using the new fintech platform, KMSB will provide microlending services to

Badan Perlayanan Jaminan Sosial Ketenagakerjaan

(BPJSTK), the social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with a combined total of 48 million individual members.

“Through this exclusive strategic alliance with KMSB, we have a tremendous opportunity to improve the lives of nearly 20% of the Indonesian population who normally do not have access to traditional financial services,” stated Logiq president, Brent Suen. “The opportunities for new revenue streams from microlending, mobile payments, and our eCommerce solutions with this enormous user base are also phenomenal, potentially generating tens of millions of dollars of revenue annually for the benefit of our shareholders once the alliance with KMSB is fully launched, as well as the important programs that KMSB will be providing.”

“The team at KMSB, led by Dr. Mohsein Saleh Badegel, are some of the most forward-thinking and influential members of the Indonesian digital economy and they are initiating strong forward progress for their country,” continued Suen. “We’re proud to partner with KMSB, and we believe that over the near term the scale of this effort will represent a significant portion of the country’s population.”

Dr. Mohsein Saleh Badegel, chairman of KMSB, commented: “As a national cooperative, KMSB provides valuable services to its members that includes loans and insurance. We also lead investment projects in agriculture and other areas to create an economic ecosystem for our members. As a national cooperative, we can also provide loans to employees of state-owned enterprises, like PT. Samudranayaka Grahaunggul (SANGU), as well as state body employers, like BPJSTK with its 48 million members. The strategic alliance with Logiq will help us achieve the full potential in serving this immense consumer base and will generate revenue streams for both partners.”

Nugroho Sampurno, board member of KMSB, added: “We expect this alliance with Logiq to help improve the quality of life for Indonesians, and it reflects our country’s vision for its digital transformation. The Logiq team’s enthusiasm and vision, coupled with our strength locally, will help us achieve this transformation.”

Hifdal Rizky, secretary of KMSB, also commented: “The demand for microloans and financial services through digital means is a national priority. As COVID-19 continues to impact our economy and others worldwide, we must provide services that will help the families of all Indonesians and create new opportunities for incoming generations. Our alliance with Logiq will help us achieve this aim.”

The partners will work together to launch a new marketing and advertising campaign that will encourage adoption and regular use of the mobile fintech offerings. They plan to begin with a pilot program for 6,000 BPJSTK employees who will be able to borrow up to 20% of their annual salary. The program is planned for launch in the first quarter of 2021.

The next phase involves rolling out the program to 5 million contract/delivery drivers of

Gard


a Digital Indonesi


a

, a membership organization overseen by BPJSTK that handles pensions and health benefits for ridesharing drivers. Microloans will be made available to these members for personal or business use, such as purchasing, configuring, or repairing mobile vehicles.

Finally, the program will be introduced to all BPJSTK’s 48 million members and 600,000 SMBs. They will also gain access to Logiq’s increasingly popular


PayLogiq


™ e-Wallet and


GoLogiq


™ hyper-local food delivery mobile platforms.

PayLogiq (branded as AtozPay™ in Indonesia) allows users to top-up their phone, pay bills and make other financial transactions. SMBs will also be introduced to Logiq’s award-winning mobile app creation platform, AppLogiq™ (aka CreateApp™), giving them the ability to easily create a mobile presence with eCommerce and fintech functionality without technical knowhow or background. Logiq and KMSB plan to begin marketing subscriptions of AppLogiq to SMBs in the first quarter of 2021, and they expect to achieve 30% penetration of BPJSTK’s SMB membership by the end of the year.

Logiq and KMSB expect their new strategic alliance to benefit from Indonesia’s fast-growing digital financial services market, which is projected by

S


G


E

to grow at a compounded annual rate of 34% to reach US$8.6 billion by 2025.

“This alliance, and its vast opportunities for expanded market reach and growth, represents the culmination of years of investment in our South East Asia operations,” added Suen. “To put the opportunity in perspective, our Indonesian operations currently have 36,000 SMBs and 130,000 individual customers, and we now have immediate access to an exponentially greater base of new customers. Further, the equal operational and revenue share structure with KMSB validates and reaffirms the unique and powerful capabilities of our mCommerce and fintech platforms. As we continue to attract major global partners like KMSB, ShopeePay and TechMahindra, we see ourselves at just the beginning of a long-term acceleration in this key segment of our global business operations.”


About


Koperasi


Mona


Santoso


Berjaya


In these recessionary times and the era of a pandemic, KMSB was formed as a national economic movement and business entity that is able to participate in maintaining and improving the quality of life for all Indonesians and increase the competitiveness of domestic production. KMSB is engaged in savings and loans for generating new opportunities for Indonesian workers, and is dedicated to building a reliable distribution network for consumers that addresses their needs at a fair price. KMSB helps to create new economic opportunities for its members.


About Dr


.


Mohsein


Saleh


Badegel


Dr. Mohsein Saleh Badegel is an entrepreneur who founded Mentalku and Hisehat. The companies provide health and mental health services in the form of health screening, teleconsulting, and psychological testing to BPJSTK members, including psychological testing services for those applying and renewing their auto licenses in Indonesia. Both of these companies are used by the Indonesian National Police with 590,000 members, Indonesian Armed Forces with 395,000 members, and several other larger state-owned enterprises.


About


BPJS


Ketenagakerjaan


Badan PenyelenggaraJaminan Sosial (BPJS) Ketenagakerjaan is a public legal entity whose duty is to protect all workers through national social security programs and encourage their participation. Established by the government of Indonesia, BPJS develops and administers worker compensation, retirement, and pension benefits, as well as housing and shopping discount programs for approximately 48 million citizens and 600,000 small- and medium-sized businesses. BPJS is committed to protecting and making prosperous all workers and their families, enhancing productivity and competitiveness of businesses and employees, and supporting national economic development and self-reliance. To learn more, go to

www.bpjsketenagakerjaan.go.id/en

.


About Logiq




Logiq, Inc.


(OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s


PayLogiq


™ offers mobile payments, and


GoLogiq


™ offers hyper-local food delivery services. For more information about Logiq, go to


Logiq.com


.


Forward-Looking Disclaimer


This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq ‘s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, the successful launch and development of Logiq’s partnership with KMSB, including the related pilot programs, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.


Company Contact


Brent Suen, President

Logiq, Inc.


Email contact


Media & Investor Contact


Ronald Both or Grant Stude

CMA Investor & Media Relations

Tel (949) 432-7566


Email contact


Primary Logo


InvestorNewsBreaks – Logiq Inc. (LGIQ) Applies to List on NEO – Canada’s Next-Gen Stock Exchange

| Press Release

Logiq (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has initiated the application process to list the company’s common shares on the NEO Exchange (“NEO”). With a goal to create a better listing experience for public companies and investment products, NEO is Canada’s next-generation stock exchange. Upon approval to list on the NEO, Logiq’s common shares will continue to trade in the U.S. on the OTCQX market. A NEO listing would also present an opportunity to eventually move U.S. trading to the NYSE American, enabling Logiq’s dual listing on recognized exchanges in both Canada and the United States. “As a global, fast-growing company, a listing on NEO presents a tremendous opportunity to increase awareness of Logiq in the North American investment community,” Brent Suen, executive chairman and president of Logiq, stated in the press release. “As a senior stock exchange, the NEO is a leading-edge platform that exemplifies how technology for exchange trading can be utilized to broaden investor confidence, improve liquidity and gain global exposure.”

To view the full press release, visit http://ibn.fm/a4jDh

About Logiq Inc.

Logiq is a U.S.-based, leading global provider of eCommerce, mCommerce and fintech business enablement solutions. Its AppLogiq(TM) platform-as-a-service enables small-and-medium sized businesses worldwide to easily, and without technical knowledge or background, create and deploy a native mobile app. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics and promote their products and services in an easy, affordable and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX(TM) data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s PayLogiq(TM) offers mobile payments, and GoLogiq(TM) offers hyper-local food delivery services. For more information about Logiq, visit www.Logiq.com.

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