PowerBand Solutions’ (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA), a comprehensive e-commerce solution allowing drivers and automotive dealers to buy, sell, trade, lease and finance vehicles from any digital device, has released its February 2021 financial numbers, noting that the company’s strong month-over-month growth has continued into 2021. In the announcement, PowerBand reported that its February’s gross sales totaled C$8 million, which is a 19.4% or C$1.3 million increase over its January 2021 numbers of C$6.7 million. This is particularly noteworthy because February is a short month, which included a major cold-weather incident that negatively impacted the economy in much of the country, including Texas, a key PowerBand market. PowerBand reports that year-to-date gross sales for 2021 are C$14.7 million, which is edging closer to PowerBand’s 2020 year-to-date gross sales of C$21.7 million. “We are continuing to grow our market share and move toward profitability because the DRIVRZ(TM) virtual marketplace is eliminating the need for drivers and dealers to engage unnecessary middlemen when they buy, sell, lease, trade, finance and insure vehicles,” said PowerBand CEO Kelly Jennings in the press release. “The DRIVRZ virtual marketplace is truly disruptive because we do not acquire and hold costly inventory. Instead, we offer access to more than 4.5 million vehicles through our data bases and facilitate the ability of drivers and dealers to connect to those vehicles. We do not pass on substantial inventory-holding costs to the user and eliminate the bottom-line risk to the company of debt costs and depreciating inventory.”
To view the full press release, visit https://nnw.fm/TRKAq
About PowerBand Solutions Inc.
PowerBand Solutions, listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand’s integrated, cloud-based transaction platform facilitates transactions among consumers, dealers, funders and manufacturers (“OEMs”). The platform enables users to buy, sell, trade, finance, and lease new and used, electric- and non-electric vehicles, on smartphones or any other online digital devices, from any location. PowerBand’s transaction platform — being trademarked under DRIVRZ — will be available across North American and global markets. For more information, please visit www.PowerBandSolutions.com.
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