Legible Stock Price, News & Analysis

Legible Inc. has increased the size of its private placement of units from $500,000 to $694,566, successfully closing by issuing 6,945,656 units at $0.10 per unit. The net proceeds amount to $691,119, aimed at technology development, marketing, and working capital. The company also noted interest from authors for converting ePubs into its unique Living Books format. Additionally, the engagement terms with Red Cloud Securities Inc. were amended to a $7,000 monthly fee until March 2023.

Legible Inc. (CSE: READ, OTC: LEBGF) launched a new multimedia ebook titled Don’t Believe a Thought You Think, authored by T. Harv Eker, featuring interactive elements and original content. This Living Book offers audio and video insights from Eker, aiming to enhance reader engagement through Legible's unique browser-based platform. The ebook is priced at $6.49 for a limited time. Legible's CEO believes this release will increase traffic and brand visibility, showcasing the future of digital reading.

Legible Inc. (CNSX: READ, OTC: LEBGF) has entered a partnership with Metrolinx to provide ebooks on the GO Transit network, which serves over seven million people in Ontario. This collaboration allows Legible to supply ebooks for the GO Wi-Fi Plus entertainment portal and offer a quarterly ebook for the GO Transit Reads program, enhancing reading experiences for commuters. The North American ebook market is projected to grow at 7% annually until 2025, and Legible aims to capture significant market share, especially with its upcoming subscription service, Legible Unbound.

Legible Inc. has announced an increase in its private placement of debenture units, raising the total offering from $1,000,000 to $2,000,000. The first tranche closed with 100.63 debenture units priced at $10,000 each, generating gross proceeds of $1,006,300. After fees and debt settlements, net proceeds are $994,300. Each debenture unit features a 15% unsecured convertible debenture and warrants. The funds will support general working capital, with a second tranche anticipated within two weeks. The company emphasizes strong investor demand and its innovative multimedia eBook offerings.

Legible Inc. (CSE: READ) has announced a non-brokered private placement of debenture units, aiming for gross proceeds of up to $1,000,000. Each Debenture Unit consists of a 15% convertible debenture worth $10,000 and 50,000 common share purchase warrants. The maturity period is three years, and the conversion price is set at $0.10 per share. Closing is expected around June 8, 2022, pending regulatory approval. Funds will be used for general working capital purposes.

Legible Inc. has announced the launch of its Rest of World eBookstore, expanding its reach into the UK and Ireland, where digital book sales reached GBP 3.2 billion in 2021. This strategic move aims to accelerate readership and revenue growth. CEO Kaleeg Hainsworth emphasizes that this expansion will enhance their market presence and drive profitability in 2022. Additionally, Legible is developing new revenue streams including 'Living Books' and Audiobooks, supported by robust marketing campaigns. These efforts position Legible for significant growth in the digital publishing sector.

Legible Inc. (OTC: LEBGF) has appointed Ed Duda as its new Chief Financial Officer. With over 30 years of experience in public and private finance sectors, Duda aims to enhance Legible's profitability and operational efficiency. His previous role was Managing Director at Delmac Pacific Management Inc. Duda emphasized Legible's potential to revolutionize the eReading market with its unique Living Books platform and extensive eBook contracts. CEO Kaleeg Hainsworth expressed confidence in Duda's leadership to drive global growth and strengthen corporate governance.

Legible Inc. (CSE: READ, OTC: LEBGF) has launched a new feature called Legible Bookshelves, enabling users to create and share up to 10 personalized collections of ebooks, with each collection holding up to 100 titles. This innovative offering aims to enhance customer engagement and create new revenue streams by allowing organizations to sponsor curated bookshelves and corporate reading accounts. Legible Bookshelves will support the company's mission for global literacy and accessibility, setting it apart from traditional ebook platforms.

Legible Inc. (CNSX: READ, OTC: LEBGF) announces the departure of Chief Publishing Officer Cameron Drew and Chief Revenue Officer Wai-Ming Yu. Their contributions included securing eBooks and developing a go-to-market strategy. Legible has consolidated its product team and brought the publishing sector under Angela Doll's leadership. The company aims for significant revenue growth following a streamlined approach. Management is confident in delivering timely financial statements for the year ending December 31, 2021. Legible strives to enhance the eBook experience for global readers.