On April 7 and 16, 2020, PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA) and D2D Auto Auction LLC successfully launched and conducted “virtual” auctions in the United States. These auctions demonstrated the speed and proficiency of the unique platform (http://nnw.fm/dOw26). An article discussing the company reads, “The new cloud-based platform will be offered across the United States in the coming weeks and will allow digital images and details of vehicles to be uploaded for potential buyers to view. More than 1,300 dealers were registered on the D2D platform when it was launched at the end of 2019. This number is increasing rapidly with social distancing. D2D’s sales team targets additional dealerships and commercial customers, including leasing, rental and fleet companies. . . . According to PowerBand CEO Kelly Jennings, the virtual auctions held earlier in April generated high demand, as dealerships are looking for ways to adapt to an environment where the purchase and sale of vehicles at a physical auction is no longer a viable option. ‘Our cloud-based auction platform is now fully functional and can replace traditional physical auctions across North America, as well as greatly reducing the costs to dealers since we only take a fee when a vehicle is actually sold,’ Jennings noted in a 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 these entities to buy, sell, trade, finance and lease new and used, electric and nonelectric vehicles on smartphones or 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, visit www.PowerBandSolutions.com.
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