OTCWagon Issues Important Update: Powerband Solutions, Inc. (PBX)

PowerBand Solutions' DRIVRZTM products delivered 56% month-over-month revenue growth in August 2021
 
TORONTO - Sept. 9, 2021 - PRLog -- PowerBand Solutions Inc. (PBX), a comprehensive e-commerce solution transforming the online experience to sell, trade, lease, and finance vehicles, is pleased to announce that the Company's August 2021 financial results demonstrate strong momentum of month-over- month revenue growth, positioning the Company for another record quarter.

Gross revenue increased to CDN $3.7 million in August 2021, representing 56% growth month-over-month. August was the third consecutive month of 30% or higher sequential growth. Cumulative year-to-date gross revenue has now exceeded CDN $13 million with a gross margin of 50%. Lease originations count increased to 313 in August 2021, up 20% from July 2021.

Kelly Jennings, founder and CEO commented. "Our overarching strategy from the beginning is to enable dealers with innovative products and digital solutions by developing the industry's first multi- sided marketplace. The competitive moat of the DRIVRZ Financial business is becoming apparent to industry constituents and the financial community. We will leverage existing dealer relationships and build new partnerships to fortify our strategy to develop a true marketplace in the automotive industry. We see significant synergies across our business segments as DrivrzXchange and DrivrzLane are rolled out and start contributing to revenues in 2022".

OTCWagon is extremely happy to bring PBX to your attention. Now the ONLY question left is: WHAT ARE YOU WAITING FOR?

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Tags:DRIVRZ
Industry:Automotive
Location:Toronto - Ontario - Canada
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