PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA), a disruptive fintech platform solution, transforming the online experience to sell, trade, lease, or finance vehicles, today announced positive financial results for the month of December. Per the update, the company anticipates that ending the year with record growth will provide great momentum for the first quarter of 2021. “We are pleased with our consistent month-over month growth this past year. Powerband’s fourth quarter net revenues increased 138% over the third quarter of 2020. December YTD closed out at $23.8mm, which was $6.1mm stronger than November’s $17.7mm YTD. This means that the total YTD loss is $11,584,000, which includes $1,987,000 in stock option compensation. This results in an operational loss of $9,597,000 for the year, a quarterly operation loss of $2,574,000, and a deficit of $338,000 for the month. We are heading in the right direction. It has been the hard work and dedication of our North American team that has been the difference maker in 2020. We are looking forward to a prosperous 2021,” PowerBand CEO Kelly Jennings stated in the news release.
To view the full press release, visit https://nnw.fm/nw2jZ
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 smart phones or any other online digital devices, from any location. PowerBand’s transaction platform — being trademarked under DRIVRZ — is being made available across North American and global markets. For more information, please visit www.PowerBandSolutions.com.
NOTE TO INVESTORS: The latest news and updates relating to PWWBF are available in the company’s newsroom at http://nnw.fm/PWWBF
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork
