INEO Tech Corp (OTCMKTS:INEOF), which is best known for having developed the digital advertising solution for retailers named INEO Media Network , was in the news yesterday after it made a significant new announcement. The company provided an update with regards to the progress it has made recently with retailers from across the world.
Trading Data
On Thursday, INEOF stock ended flat at $0.1429 with 1.08K shares, compared to volume of 10.19K shares. The stock moved within a range of $0.1429 – 0.1429 after opening trade at $0.1429.
The company announced that it had continued to make significant headway by successfully executing its direct selling strategy. Not too long ago, INEO had managed to land a significant new retail client. However, that is not all. INEO also noted that it had started rolling out its INEO Welcoming System in a large cluster of stores in certain geographical regions.
Over the course of the next few weeks, the INEO Welcoming System is going to be rolled out in as many as 30 locations. It was noted that at this point in time INEO was in a good position to deploy the system in more than 1000 locations in the United States in accordance with the signed agreements that it already has in place. As can be seen, the company has managed to create considerable momentum and it remains to be seen if that bring the stock into focus or not.
Key Quote
Kyle Hall, CEO of INEO, commented, “We are very excited with the significant progress and momentum INEO is building with large retail chains. Retailers are quickly becoming aware of INEO and are captivated by our ability to provide digital display screens inside of a loss prevention system. More importantly, our patented product generates revenue for the retailer with our integrations to the retailer’s Retail Media Network. Having display screens at the front entrance of retail stores is proving to be an in-demand location for advertisers. Furthermore, we are very pleased with our partner Prosegur’s success in achieving pilot installations with several large retailers across the globe. We are witnessing increasing numbers of pilot systems and strong levels of interest to convert pilot system installations into full scale deployments and roll outs.”
