Facedrive Research

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Facedrive Research

Despite a comprehensive search, information regarding banks or firms covering the stock of Facedrive was not publicly available. Search for the bank that participated in the Initial Public Offering (IPO) was also unavailable. We have provided alternative findings as well as the research strategy used to attempt to obtain the required information.

Helpful Findings

  • While no information regarding institutions doing banking for Facedrive was available, it has been reported that the company has a corporate partnership with Scotiabank.
  • On July 22, Facedrive announced the closing of its third non-brokered private placement. This will be the final one.
  • Since its Initial Public Offering (IPO), the company has grown 670%, which could be due to the diversified business model of Facedrive.
  • In addition, the company has finalized the acquisition of assets of foodora, Inc in July 2020. This will allow the company to expand its food delivery branch.
  • Earlier in 2020, the company finalized the acquisition of HiRide, expanding its ride-sharing branch.

Research Strategy

We have searched through reports from rating firms, company annual and quarterly reports, reputable financial outlets such as Bloomberg and NASDAQ, as well as industry reports and industry outlets for information about banks covering Facedrive stocks or involved in banking activities for Facedrive. However, despite this comprehensive search, we were unable to find the requested information. Furthermore, we searched for specific analysts covering Facedrive stock, without finding any available public results. In addition, we searched through press reports, investors reports, and any publications made by the company to no avail. We also searched through the System for Electronic Document Analysis and Retrieval (SEDAR) for the documents filed by Facedrive to find any information regarding banks the company is working with. Unfortunately, this search was also unsuccessful and it appears the information is not available on public reports. The relatively small size of the company might also be a factor when it comes to the availability of the information.
Sources
Sources