NetworkNewsBreaks – PowerBand Solutions Inc. (TS
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Posted On: 01/26/2021 3:55:04 PM
NetworkNewsBreaks – PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) Reports Encouraging Financial Results for December 2020
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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