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.
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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://ibn.fm/PWWBF
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