TTM.V - 3TL Technologies Corp.

About 3tl Technologies Corp.

PLATFORM3 is a Software as a Service (SaaS) consumer marketing platform. It enables Consumer Packaged Goods (CPG) companies and consumer brands to engage shoppers through their mobile device and influence their purchasing decisions. PLATFORM3 encompasses proprietary consumer engagement strategies and technology modules including optical character recognition (purchase receipt scanning), digital promotions, purchase data mining, loyalty and rewards. CPG companies and major retail brands use PLATFORM3 to influence and incentivize shoppers to interact with their brand and make purchases in-store and online.



http://3tltechcorp.com/

 

3tl Technologies Corp. Announces License Agreements to Provide PLATFORM3 for a Multinational Confectionary and Pet Food Company

VANCOUVER, BC--(Marketwired - January 12, 2017) - 3tl Technologies Corp. (TSX VENTURE: TTM) (OTCQB: TTMZF) (the "Company" or "3tl") announced two agreements with a leading advertising agency (the "Agency") to provide PLATFORM3, its Software as a Service (SaaS) consumer marketing platform, and custom development services to execute separate shopper marketing promotions for a leading confectionary brand and a leading pet food brand.

The confectionary brand promotion will take place during Easter 2017 and the pet food brand promotion will take place during April and May 2017. The brands are two of 61 brands owned by a multinational confectionary and pet food company (the "Brand Owner"), that does over US$30 billion in annual revenues.

3tl has previously licenced PLATFORM3 to the Agency for two other shopper marketing promotions for the Brand Owner that were completed in 2015 and 2016.

"This business was won by 3tl based on the track record we established with the Agency and Brand Owner," said Rob Craig, CEO of 3tl. "Over the last year PLATFORM3 has successfully enabled leading brands to connect directly with consumers on mobile devices in retail stores, reward them for purchasing and interacting with the brand and collect valuable consumer data. This has led to repeat business with numerous ad agencies and brands. Our goal in 2017 is to convert this success into larger and longer-term license agreements, providing increased ROI for the brands and high margin SaaS revenues for 3tl.

http://web.tmxmoney.com/article.php?newsid=6072540768580291&qm_symbol=TTM

 

3tl Technologies Corp. announces two-year license agreement to provide PLATFORM3 to a Leading Outdoor Solutions Company

VANCOUVER, Jan. 18, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced a two-year license agreement (the "Agreement") to provide PLATFORM³, its Software as a Service (SaaS) consumer marketing platform, to a leading worldwide provider of innovative solutions for the outdoor environment (the "Leading Outdoor Solutions Company" or the "Brand"). This Brand provides turf, snow and ground engaging equipment, and irrigation and outdoor lighting solutions, and had sales of US$2.4 billion in fiscal 2016. Under the Agreement, the Leading Outdoor Solutions Company will pay 3tl an annual license fee and transaction fees based on the quantity of shopper marketing promotions it activates and the number of purchases tracked by PLATFORM³.

The Leading Outdoor Solutions Company will use PLATFORM3 as the operating software of its Contractor Loyalty and Rewards program and will also use the full suite of PLATFORM³ modules including: Contests and Promotions; Purchase Receipt Validation; Loyalty, Rewards & Gamification; Social Content Sharing; Re-Targeting and Data Capture & Analytics.

The Contractor Loyalty and Rewards program will reward and incentivize the Leading Outdoor Solutions Company's key contractors in a fun and engaging way. PLATFORM³ will enable contractors to earn rewards for purchasing the Leading Outdoor Solutions Company's products, viewing online videos and for sharing the Brand-friendly content via social networks. PLATFORM³ will also track purchase behaviors and demographic data in an effort to provide the Leading Outdoor Solutions Company's contractors with more customized and targeted offerings.

"The Leading Outdoor Solutions Company will use PLATFORM³ to provide its customers with initial purchase and frequent purchase incentives as part of its Partner Program. We see the business-to-business market playing a significant role in our growth plans and are excited to partner with such a great brand." said Rob Craig, CEO of 3tl. "We built PLATFORM³ to make it easy for brands to implement and for consumers to use, while at the same time providing fully-integrated functions in a single SaaS platform. Our two-year agreement with the Leading Outdoor Solutions Company is consistent with our goal in 2017 to convert our track record of delivering results for leading brands into longer-term license agreements, providing increased ROI for brands and high margin SaaS revenues for 3tl."

http://web.tmxmoney.com/article.php?newsid=8429587459338478&qm_symbol=TTM

 

3tl Technologies Corp. Announces Annual License Agreement to Provide PLATFORM3 for Multinational Confectionery and Pet Food Company

VANCOUVER, Jan. 24, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced a one-year agreement signed on December 20, 2016 to provide PLATFORM3, its Software as a Service (SaaS) consumer marketing platform for a brand (the "Brand") owned by a multinational confectionery and pet food company (the "Brand Owner".) 3tl will be compensated with an annual license fee and transaction fees based on the number of consumer purchases validated on PLATFORM3.

PLATFORM3 will be used as the mobile portal for the Brand's mobile Loyalty Program (the "Loyalty Portal"). The Loyalty Portal will use the full suite of PLATFORM3 modules including: Contests and Promotions; Purchase Receipt Validation; Loyalty, Rewards & Gamification; Social Content Sharing; Re-Targeting and Data Capture and Analytics.

3tl has previously licensed PLATFORM3 for four other shopper-marketing promotions for the Brand Owner, including two others to be launched in 2017 (please see news release dated January 12, 2017). The mobile Loyalty Portal is expected to launch in February 2017.

Customers of the Brand will be rewarded for purchases made in retail locations with points redeemable for prizes by scanning their purchase receipts using PLATFORM3. PLATFORM3 will enable the Brand's customers to earn rewards for sharing Brand-friendly content via social networks. PLATFORM3 will also track purchase behaviour and demographic data in an effort to provide the Brand's customers with more customized and targeted offerings.

"We look forward to continuing to deliver value to the Brand Owner with our fifth license agreement and first annual license," said Rob Craig, CEO of 3tl. "We are winning business based on the results we delivered for other brands owned by the Brand Owner. PLATFORM3 is enabling leading brands to connect directly with consumers on mobile devices in retail stores and reward them for purchasing and interacting with the brand and collect valuable consumer data. We are off to a great start in 2017, converting successful short-term licenses into larger and longer-term license agreements, providing increased ROI for the brands and high margin SaaS revenues for 3tl."

http://web.tmxmoney.com/article.php?newsid=8440303553313877&qm_symbol=TTM

 

3tl Technologies Corp. Announces License Agreement to Provide PLATFORM3 for Milk Promotion

VANCOUVER, Feb. 9, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced an agreement to provide PLATFORM³, its Software as a Service (SaaS) consumer marketing platform for a promotion of milk products in Western Canada for a western Canadian milk marketing association. 3tl will be compensated with an initial two-month license fee starting in March 2017, and a monthly license fee thereafter. 3tl has previously licenced PLATFORM³ for a national milk promotion in the U.S. (see press release dated August 20, 2016).

The milk promotion will use the full suite of PLATFORM³ modules including: Contests and Promotions; Purchase Receipt Validation; Loyalty, Rewards & Gamification; Social Content Sharing; Re-Targeting and Data Capture and Analytics.

Consumers who buy qualifying milk products at participating retailers will validate their purchases on their mobile devices using PLATFORM³. After validation, PLATFORM³ sends the consumers rewards via their mobile device, including a coupon for coffee products that can be redeemed at a global restaurant chain, and entries into a sweepstakes to win valuable prizes. The consumer can earn more entries for larger and repeat purchases of milk products, subject to some limits. PLATFORM³ will also track purchase behaviour and demographic data in an effort to provide the milk marketing association with consumer data for more customized and targeted offerings.

"This agreement is another example of how PLATFORM³ enables consumer packaged goods companies to connect directly with consumers via mobile devices," said Rob Craig, CEO of 3tl. "Consumers get valuable prizes that drive increased sales of milk products, and the milk marketing association rewards consumers while collecting valuable consumer data. Our experience last year with the milk promotion in the U.S. helped us to provide a solution for Western Canada."

http://web.tmxmoney.com/article.php?newsid=7825861579048495&qm_symbol=TTM

 

3tl Technologies Corp. Announces 6th License Agreement to Provide PLATFORM3 for Multinational Confectionery and Pet Food Company

VANCOUVER, Feb. 16, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced an agreement to provide PLATFORM³, its Software as a Service (SaaS) consumer marketing platform, for a brand (the "Brand") owned by a multinational confectionery and pet food company (the "Brand Owner").

PLATFORM³ will be used as the mobile platform for a shopper marketing promotion to promote the Brand in retail locations. The promotion is expected to commence in July 2017 and run for two months. Customers of the Brand who validate their purchase receipts with their mobile device via PLATFORM³ will be rewarded with promotion codes redeemable for movie tickets.

The Brand is one of 61 brands owned by the multinational confectionery and pet food company. 3tl has previously licenced PLATFORM³ for five other shopper-marketing promotions for the Brand Owner, including an annual licence for one of its other brands to be launched in 2017 (please see news release dated January 24, 2017).

"Repeat business from this multinational brand owner is validation that PLATFORM³ is delivering results for consumer packaged good companies," said Rob Craig, CEO of 3tl. "PLATFORM³ is enabling leading brands to connect directly with consumers on mobile devices in retail stores and reward them for purchasing and interacting with the brand. Our technology also allows the brand to collect valuable consumer data so they can target consumers with offers based on purchasing behaviour and demographics. We are working hard to develop deeper relationships with repeat customers, providing increased ROI for brands and high margin SaaS revenues for 3tl."

http://web.tmxmoney.com/article.php?newsid=5850465219086411&qm_symbol=TTM

 

3tl Technologies Corp. Announces License Agreement to Provide PLATFORM3 to the Toro Company

VANCOUVER, Feb. 23, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced a two-year license agreement (the "Agreement") to provide PLATFORM³, its Software as a Service (SaaS) consumer marketing platform, to The Toro Company (NYSE: TTC) ("Toro"). To learn more about the program please visit http://tororewards.com/home

Toro will use PLATFORM3 as the operating software of its new Landscape Contractor Loyalty Rewards Program and will also use the full suite of PLATFORM³ modules, including contests and promotions; purchase receipt validation; loyalty, rewards & gamification; social content sharing; and analytics.

PLATFORM³ will enable Toro's landscape contractor customer base to earn rewards in exchange for purchasing Toro parts and accessories, viewing online videos, and sharing Toro content via social networks.

"We are excited to provide our professional landscape contractor customer base with an innovative, mobile-based loyalty rewards program," reveals Toro Aftermarket Marketing Manager Kim Wellman. "We believe this will be a great way to enhance our brand and, more importantly, serve as an added value for our customers."

"Toro will use PLATFORM³ to provide its customers with initial purchase and frequent purchase incentives as part of its Partner Program," explains Rob Craig, CEO of 3tl. "We see the business-to-business market playing a significant role in our growth plans and are excited to partner with such a great brand. We built PLATFORM³ to make it easy for brands to implement and for consumers to use, while at the same time providing fully integrated functions in a single SaaS platform."

http://web.tmxmoney.com/article.php?newsid=5646966280035214&qm_symbol=TTM

 

3tl Technologies Corp. Announces License Agreement to Provide PLATFORM³ to a Leading Household Consumer Products Company

VANCOUVER, March 2, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced a license agreement (the "Agreement") to provide PLATFORM³, its Software as a Service (SaaS) consumer marketing platform, for a shopper promotion of a leading baking soda brand (the "Brand") owned by a leading household consumer products company (the "Brand Owner"). This is the second time that the Brand Owner has used PLATFORM³ for a shopper marketing promotion.

The Brand Owner will use PLATFORM³ for a two-month shopper marketing promotion starting in June 2017. Consumers will be rewarded with a subscription to a magazine when they submit proof of purchase via their mobile device using the purchase receipt validation module of PLATFORM³.

"This license agreement is the continuation of our trend to repeat business with leading consumer packaged goods companies," said Rob Craig, CEO of 3tl. "The Brand Owner owns 32 consumer brands, so we are keen to expend the relationship. Our proven ability to facilitate a direct connection between brands and consumers on mobile devices and influence purchasing behaviour is fuelling our strong growth in 2017."

http://web.tmxmoney.com/article.php?newsid=8387506679046567&qm_symbol=TTM

 

3tl Technologies Corp. Announces One-Year License Agreement to Provide PLATFORM³ for Leading Distributor of Theatrical & Television Products

VANCOUVER, March 8, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced a one-year agreement to provide PLATFORM³, its Software as a Service (SaaS) consumer marketing platform, for a leading global distributor (the "Distributor") of theatrical and television products to launch its digital gift-with-purchase loyalty program (the "Portal"). The Distributor is a subsidiary of an American global mass media and telecommunications conglomerate that is one of the world's largest broadcasting and cable television companies.

3tl will be compensated with an annual license fee and transaction fees based on the number of consumer purchases validated on PLATFORM³. The Portal is expected to be launched in late March 2017.

Consumers will be able to access the Portal hosted by PLATFORM³ from any web-enabled device to earn rewards by submitting PIN codes and receipts validating purchases of DVDs, Blu-Rays and digital downloads. Consumers will also earn loyalty points through the Portal for social engagement and advocacy activities such as watching movie trailers, sharing brand content on social media and answering polls, surveys and quizzes. The loyalty points will be redeemable for rewards such as movie downloads and entries into sweepstakes. PLATFORM³ will also track purchase behaviour and demographic data in an effort to provide the Distributor's consumers with more customized and targeted offerings.

The Portal will use the full suite of PLATFORM³ modules including: Contests and Promotions; Purchase Receipt Validation; Loyalty, Rewards & Gamification; Social Content Sharing; Re-Targeting and Data Capture & Analytics. PLATFORM³ will host sweepstakes, promotions, interactive content, PIN code submission and validation, and purchase receipt upload and validation functionality.

"The entertainment sector is a great fit for PLATFORM³ and we are proud to be selected to partner with such an iconic brand," said Rob Craig, CEO of 3tl. "We know that consumers already share content about their favourite movies and TV shows via social media. With this program, consumers can access high quality content on PLATFORM³ and receive rewards for something they enjoy sharing. This agreement is consistent with our goal to convert our initial campaigns with clients into longer-term license agreements, providing increased ROI for brands and high margin SaaS revenues for 3tl."

http://web.tmxmoney.com/article.php?newsid=5277340840496034&qm_symbol=TTM

 

3tl Technologies Corp. Announces License Agreement to Provide PLATFORM³ for National Pet Month Promotion

VANCOUVER, March 22, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced a license agreement (the "Agreement") to provide PLATFORM3, its Software as a Service (SaaS) consumer marketing platform, to enable a shopper promotion for a leading household consumer products company (the "Brand Owner") of its pet care products. This is the third time that the Brand Owner has used PLATFORM³ for a shopper marketing promotion (see press release dated March 2, 2017).

The Brand Owner will use PLATFORM3 for a shopper marketing promotion that will take place in May 2017, during National Pet Month. Consumers will be invited to share pictures and the names of their pets with friends and family via social media when they submit proof of purchase via their mobile device. The promotion will use modules of PLATFORM3 including, Purchase Receipt Validation, Social Content Sharing, Contests & Promotions and Data Capture & Analytics.

"In this promotion the Brand Owner is using PLATFORM3 to leverage the power of social media, activating consumers who love their pets and are keen to share," said Rob Craig, CEO of 3tl. "In 2017, we are seeing a trend to repeat business with leading brands, who first used PLATFORM3 in 2016. The Brand Owner owns 32 consumer brands, providing 3tl and the Brand Owner with lots of upside in expanding the relationship."

http://web.tmxmoney.com/article.php?newsid=5003571499344672&qm_symbol=TTM

 

They closed a PP in late November 2016 @ $0.05. Current SP sits below financing price, despite the contracts rolling in to start 2017.

 

Latest Corporate Update. It's interesting that this update name drops the companies that have signed for use of their platform, but they've omitted their names in the actual news releases.

 

3tl Technologies Corp. Announces $120,000 Agreement to Provide PLATFORM³ for Back to School Promotion
Canada NewsWire

VANCOUVER, April 5, 2017

VANCOUVER, April 5, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced a $120,000 (US$90,000) agreement (the "Agreement") to provide PLATFORM³, its Software as a Service (SaaS) consumer marketing platform, to enable a Back To School shopper promotion for a leading consumer meat products company. The promotion is to be launched in July 2017 and will run until late August 2017. This is the second time that the meat products company has used PLATFORM³ for a shopper marketing promotion (see press release dated August 8, 2016).

Under the agreement model, the company's proprietary PLATFORM³ technology will be used to enable mobile digital rewards for consumers who purchase meat products during the promotion. Consumers who purchase qualifying quantities of the meat products during the promotion period will have the opportunity to submit an image of their receipts online for validation using PLATFORM³. Once their receipts are validated, they will receive a US$20 gift card and a coupon that can be used for their next purchase of consumer meat products.

"The continuing trend to repeat business is further validation that PLATFORM³ is delivering results for leading consumer brands that want to connect directly with consumers through mobile devices and influence their purchasing decisions at the point of sale," said Rob Craig, CEO of 3tl. "2017 is shaping up to be a breakthrough year for 3tl as we leverage the successes we had in 2016 to repeat business and longer term agreements."

http://web.tmxmoney.com/article.php?newsid=5749927430873502&qm_symbol=TTM

 

3tl Technologies Corp. Signs Four Agreements to Provide PLATFORM³ and Announces Strong Sales Growth in 2017
Canada NewsWire

VANCOUVER, April 12, 2017

VANCOUVER, April 12, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced four agreements to provide PLATFORM³, its Software as a Service (SaaS) consumer marketing platform, to enable shopper marketing promotions for leading consumer brands. The four agreements are for short-term promotions that are to be completed in 2017, and represent repeat business from leading consumer brands and advertising agencies.

The Company also announced that it has signed agreements that are expected to result in recognized revenues in 2017 that will exceed revenues for all of 2016.

In 2016, 3tl launched PLATFORM³ targeting Consumer Packaged Goods (CPG) companies in the U.S. The Company validated its value proposition with 38 digital shopper marketing promotions generating total revenues of approximately $650,000 in 2016. Most of the 2016 promotions were short-term trials.

In 2017 year-to-date, 3tl has 17 agreements that will generate over $725,000 in recognized revenues in 2017:

• the agreements show a trend towards longer-term and larger agreements;
• as with the four agreements announced today, many of the agreements signed in 2017 represent repeat business from leading U.S. based brands; and,
• 3tl has a number of annual agreements where PLATFORM³ hosts an ongoing digital loyalty and rewards program. 3tl is generally paid an annual license fee plus transactions fees based on the number of times consumers validate purchases using PLATFORM³.

"Our strong sales growth in 2017 is evidence that we are delivering a digital marketing solution that is providing great results for CPG companies that want to connect directly with consumers via mobile devices. We are particularly encouraged by repeat business from brands that have tested PLATFORM³ in a short-term promotion. We are growing our relationships with CPG companies that own multiple brands, each with a budget for digital marketing," said Rob Craig, CEO of 3tl. "CPG brands that sign on for longer term agreements are realizing the value of our automated digital platform that enables them to influence purchasing decisions, reward consumers for sharing curated content via social media, all the while building a database of consumer data that can be used for further targeted marketing."

http://web.tmxmoney.com/article.php?newsid=8741953840085246&qm_symbol=TTM

 

3tl Technologies Corp. Signs Agreement to Provide PLATFORM³ to Leading Brewing Company
Canada NewsWire

VANCOUVER, April 20, 2017

VANCOUVER, April 20, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced an agreement to provide PLATFORM³, its Software as a Service (SaaS) consumer marketing platform, to enable a shopper marketing promotion for a leading brewing company. The promotion is to commence in May 2017 and run until the end of August 2017.

Under the agreement, the company's proprietary PLATFORM³ technology will be used to enable mobile digital rewards for consumers who purchase a qualifying amount of beer products. Consumers who purchase qualifying quantities of the beer products during the promotion period will have the opportunity to submit an image of their receipts on-line for validation using PLATFORM³. Once their receipts are validated, they will be entered into a sweepstakes to win valuable prizes.

"Brewing and spirits companies sell the vast majority of their products through retailers, bars and restaurants. PLATFORM³ provides them with the tools to connect directly with consumers via mobile devices at the point of sale and provide rewards that can influence purchasing decisions," said Rob Craig, CEO of 3tl. "This is our first time providing our solution to this leading brewing company. This year we have expanded our business with most of the CPG companies that ran short-term promotions with PLATFORM³ in 2016. This is another opportunity to prove our value proposition to a leading global company."

http://web.tmxmoney.com/article.php?newsid=6737672252275017&qm_symbol=TTM

 

3tl Technologies Corp. Announces Shares for Debt Transaction and New Officer
Canada NewsWire

VANCOUVER, April 26, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM) (the "Company") announces that it has entered an agreement ("Settlement Agreement") with an arm's length creditor to issue shares to settle outstanding debt of $60,000.00. The Company intends to issue 1,200,000 common shares ("Debt Shares") in the share capital of the Company to be issued at a deemed price of $0.05 (the "Transaction"). The Transaction is subject to TSX Venture Exchange approval.

The Debt Shares, if issued, will be issued in reliance on certain prospectus and registration exemptions available under applicable securities laws and will be subject to a hold period of four months and one day in accordance with applicable securities legislations and TSX Venture Exchange requirements.

The Company also announces that Sam Wang has resigned as the Chief Financial Officer and Corporate Secretary effective April 30, 2017 and the Company has appointed Leah Rihela as Chief Financial Officer and Corporate Secretary effective May 1, 2017. "I want to thank Sam for all of his hard work and the knowledge he brought to the 3tl team. We wish him the best in his next enterprise," said Rob Craig, CEO of 3tl. "We are excited to have Leah Rihela, who was previously our Controller, as our new CFO. 3tl is growing rapidly and we are excited to have Leah continue with us in this role at such an exciting time."

http://web.tmxmoney.com/article.php?newsid=4989373023525834&qm_symbol=TTM

 

3tl Technologies Corp. Announces 2016 Year-end Financial Results
Canada NewsWire

VANCOUVER, May 1, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced its financial results for the year ended December 31, 2016. The financial statements and management discussion and analysis for the year ended December 31, 2016 are available on SEDAR.

The Company's overall performance for the year ended December 31, 2016:

• 3tl signed license agreements to provide PLATFORM3 for 38 shopper marketing promotions with leading consumer packaged goods ("CPG") brands in 2016.
  
• Revenue increased by 109% to $665,728 compared to the year ended December 31, 2015.
  
• Gross margin as a percentage of revenue increased to 68% compared to 22% in the year ended December 31, 2015.
  
• General and administrative expenses for the year ended December 31, 2016 decreased significantly to $1,100,505, compared to $1,502,417 for the year ended December 31, 2015.
  
• Signed the Company's first multi-year agreement with NBC Universal owned Fandango Rewards.
  
• Launched two new modules to PLATFORM3 based on market experience and feedback: Targeted Couponing and Shopper Messaging and Retargeting.

Subsequent to the year ended December 31, 2016:

Year-to-date 2017 3tl has agreements that will generate over $880,000 in revenues, more than the entire year of 2016, of which approximately 85% is expected to be recognized in 2017:

• Most of the 2016 agreements were short-term trials, the 2017 agreements show a trend towards longer-term and larger agreements;
  
• Many of the agreements signed in 2017 represent repeat business from leading U.S. based brands; and,
  
• 3tl has a number of annual agreements where PLATFORM³ hosts ongoing digital loyalty and rewards programs. 3tl is generally paid an annual license fee plus transactions fees based on the number of times consumers validate purchases using PLATFORM³.

"In 2016 we re-launched PLATFORM3 with additional modules that improved our value proposition for CPG brands, enabling them to connect directly with consumers in retail locations via mobile devices and influence purchasing decisions through digital rewards," said Rob Craig, CEO of 3tl. "These modules provide tools for brands to use the valuable data collected by PLATFORM3 to provide more meaningful rewards and retarget consumers based on purchasing behaviour and preferences. Our success in 2016 is leading to strong growth in 2017."

Results of Operations

Revenue for the year ended December 31, 2016 increased by 109% to $665,728, compared to $319,163 for the year ended December 31, 2015. The Company shifted its business model with the launch of PLATFORM3 during the fiscal year 2014 and Purchase Receipt Scanning in 2015, changing from custom development of digital advertising solutions with no recurring revenue to a software-as-a-Service (SaaS) model. The PLATFORM3 product is an integrated suite of digital marketing applications sold as SaaS for short-term promotions or on an annual subscriptions basis with recurring revenues. Revenue in the year reflected recognition of revenue from previous year contracts and new sales of the PLATFORM3 product offering.

Gross profit for the year ended December 31, 2016 increased to $452,715, compared to $69,229 for the year ended December 31, 2015. Gross margins for the year ended December 31, 2016 was 68% and 22% for year ended December 31, 2015. The increase in gross profit and gross margins was largely due to economies of scale.

In 2017, 3tl launched an API connection to 3rd party digital rewards platforms. This service enables 3tl's clients to offer digital rewards such as gift cards, movie tickets and virtual visas to incentivize purchase and purchase frequency. 3tl will purchase these rewards on behalf of the Company's clients and charge a 15% transaction fee for the total amount of rewards purchased.

General and administrative expenses for the year ended December 31, 2016 decreased significantly to $1,100,505, compared to $1,502,417 for the year ended December 31, 2015. The decrease was mainly due to decrease of wages and salaries and professional fees.

Sales and marketing expenses for the year ended December 31, 2016 decreased to $562,525, compared to $709,024 for the year ended December 31, 2015. The decrease was mainly due to reduction in consulting fees paid in connection with sales and marketing activities.

Research and development expenditure for the year ended December 31, 2016 decreased to $366,754, compared to $586,103 for the year ended December 31, 2015. Research and development expenses were lower for the fiscal year 2016 compared to the fiscal year 2015 as much of the development of PLATFORM3 was completed in 2015. Research and development expenses may increase in the future as the Company seeks to evolve and improve PLATFORM3, as well as to invest in creating new technology and products that will enhance the Company's value proposition to customers and provide additional revenues. Expenses include wages and salaries, consulting fees and SR&ED tax credit or expense.

Net and comprehensive loss for the year ended December 31, 2016 was $1,767,075 compared to $2,853,152 for the year ended December 31, 2015. This decrease was mainly due to the increase of revenue and reduction of operating expenses.

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