Grey Cloak Tech, Inc. (OTC Pink: GRCK) is engaged in the development of cloud-based software to detect fraudulent advertisements on the internet. The cloud technology company is rallying 14%, during early trading on Wednesday, November 30, 2016. Over the past three months, Grey Cloak Tech, Inc., has seen average daily volume of 45,798 shares. However, nearly 1.4 million shares or dollar volume of $336,000, has already exchanged hands during early trading Wednesday.
Grey Cloak Tech, Inc. is rallying Wednesday, after the company announced it has developed a new software application that is designed to help American malls and struggling retailers. The new application, ShareRails, helps in-store retailers gain a better understanding of the online searches that consumers are making with respect to goods. The software will help detail of the inventory of that in-store retailer and give the consumer that information. The idea is that if consumers know the inventory in their nearby malls, they may decide to go to their local mall and retailer. Here is the full press release detailing of the new software:
Grey Cloak Tech, Inc. Press Release:
LAS VEGAS, NV–(Marketwired – Nov 29, 2016) – Grey Cloak Tech, Inc. ( OTC PINK : GRCK ) is proud to announce that the Company, via ShareRails now has a solution to help America’s dying malls and other retailers. According to real-estate research firm Cushman and Wakefield, mall traffic decreased 50 percent between 2010 and 2013. A new report that is expected soon, is likely to indicate further and substantial declines in mall foot traffic. The boom in ecommerce has been attributed to the closing of many malls as well as the loss of many large retailers from malls that are still open.
Brad Holden, Partner at TomorrowVentures and an early investor in ShareRails, commented, “TomorrowVentures strongly believes that ShareRails’ software provides a lifeline to brick and mortar retailers by allowing them to leverage ShareRails’ technology to drive increased foot traffic and, ultimately, sales. ShareRails’ experienced team understands and addresses the pain points facing retailers and malls and provides them with an omnichannel solution.”
TomorrowVentures was founded by Eric Schmidt, Executive Chairman of Google.
92 percent of all purchases are still made in-store despite the inroads that ecommerce has made. Most purchases begin with online searches. ShareRails O2O Omnichannel platform, has a comprehensive solution to connect those online searches to local retailers in malls and elsewhere. ShareRails has successfully implemented O2O (Online-To-Offline) solutions for brick-and-mortar stores and mall operators across the U.S., facilitating over 10 Million product searches per month over 80,000 locations.
How it Works
A retailer simply needs to provide a spreadsheet of product information to automatically make their store’s product inventory searchable and discoverable online to interested shoppers. Early adopters will benefit from higher exposure in shoppers’ browsing and search result matches. As more and more purchase decisions start on the web, research shows that extending a mall’s product discovery and shopping selection online will drive foot traffic and in-store sales. Shoppers will be able to make online purchases at local mall and other retailer stores then be able to go to the store and pick their items up.
This satisfies the need for instant gratification from shoppers as well as eliminating shipping concerns with regard to cost and timing. The consumer also avoids the hassles associated with return and exchanges of items purchased from an online retailer.
William Bossung, Director and CoFounder of Grey Cloak stated, “In the last 6 months both Facebook and Google launched add products specifically for local retailers. We are certain that 90% of retailers will need ShareRails to help set-up a dynamic product catalogue required to use Facebook and Google’s most effective add products. Our goal over the next 12 months is to onboard as many offline local retailers onto our platform as possible.”
More on ShareRails and Grey Cloak Tech, Inc.
Grey Cloak Tech and ShareRails announced the signing of a binding Letter of Intent on September 15th, 2016. The Letter of Intent details the acquisition of ShareRails by Grey Cloak Tech, including obligations and conditions as required by Regulation S-X of the Securities Exchange Act.
In addition to the e-commerce tools spearheaded by ShareRails, Grey Cloak offers industry-leading click-fraud detection software. Click fraud, or bot fraud, is projected to cost unsuspecting advertisers approximately $18.5 billion annually.