Business
PowerBand's Month-Over-Month Growth Continues into January 2021
The DRIVRZ™ message is resonating and capturing more market share each month. VAN...
About this update from Ameritrust Financial Technologies Inc.
[{"type":"text","content":"PowerBand’s Month-Over-Month Growth Continues into January 2021The DRIVRZ™ message is resonating and capturing more market share each month.VANCOUVER, BC / ACCESSWIRE / February 11, 2021 / PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (Frankfurt:1ZVA) (\"PowerBand\", \"PBX\" or the \"Company\"), a comprehensive e-commerce solution transforming the online experience to sell, trade, lease, and finance vehicles, is pleased to announce that the Company's January 2021 financial results have demonstrated the continuation of strong month-over-month growth heading into 2021.Kelly Jennings, CEO of PowerBand, commented, \"Recent consumer research has shown that a growing number of consumers begin their shopping for automobiles online, and nearly half of them prefer to do it alone without any help from friends, family, or dealership salespeople. Our continued month-over-month growth indicates that our DRIVRZ™ platform messaging is resonating with this type of consumer, as we capture more market share each month. The seamless simplicity of our platform process is providing more online consumers the justification they need to stay connected with DRIVRZ™ to complete their entire transaction online with us.\"The Company continues to experience month-over-month growth. January's gross sales totalled $6.7mm (CAN). This exceeds the $6.1mm in December 2020, an increase of $600k (CAN). The gross margin for the period remained consistent in the range of 60% to 65%. This is a strong beginning for 2021 and with the recent private placement closed Powerband can now accelerate its' expansion plans for North America.About PowerBand Solutions, Inc.PowerBand Solutions Inc., 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 amongst consumers, dealers, funders, and manufacturers (OEMs). It enables them to buy, sell, trade, finance, and lease new and used, electric- and non-electric vehicles, on any phone, table or PC connected to the internet. PowerBand's transaction platform - being trademarked under DRIVRZ™ - is being made available across North American and global markets.For further information, please contact:Kelly JenningsChief Executive OfficerE: info@powerbandexchang...