PowerBand Solutions Reports Gross Sales Of $8.0 Million For February

PowerBand Solutions (TSXV: PBX) this morning released its financial update for that of February 2021. The company continues to see strong month over month growth, with the firm reporting gross sales of $8.0 million for the short month.

The gross sales of $8.0 million for February represent a 19.4% increase over the $6.7 million in gross sales reported for January 2021, with the firm seeing continued sales growth on a monthly basis. The increase for February is notable given that it is the shortest month of the year, with the month also seeing major cold-weather incidents that negatively impacted the economy in Texas, a key market for the company.

Year to date, the company has now achieved gross sales of $14.7 million, while gross margins reportedly remain in the range of 60% to 65%.

“The DRIVRZ™ virtual marketplace is truly disruptive because we do not acquire and hold costly inventory. Instead, we offer access to more than 4.5 million vehicles through our data bases and facilitate the ability of drivers and dealers to connect to those vehicles. We do not pass on substantial inventory-holding costs to the user and eliminate the bottom-line risk to the Company of debt costs and depreciating inventory.”

Kelly Jennings, CEO of PowerBand Solutions

PowerBand Solutions last traded at $0.86 on the TSX Venture.


FULL DISCLOSURE: PowerBand Solutions is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover PowerBand Solutions on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

PowerBand Acquires Majority Stake In IntellaCar Solutions

PowerBand Solutions (TSXV: PBX) has acquired a 60% membership interest in IntellaCar Solutions, a user-friendly...

Thursday, October 29, 2020, 09:12:32 AM

PowerBand Solutions Secures US$2.0 Billion In Lease Lines For EVs

PowerBand Solutions (TSXV: PBX) this morning revealed that it has secured two additional credit facilities....

Tuesday, May 4, 2021, 08:05:20 AM

Market Movers: PowerBand Solutions

TSX Venture listed PowerBand Solutions (TSXV: PBX) has been one of the highest volume traded...

Friday, January 10, 2020, 01:53:49 PM

PowerBand Sees Over US$3.0 Million In Transactions On Auction Platform Since Launch

PowerBand Solutions (TSXV: PBX) this morning provided an update on the success that its virtual...

Thursday, August 6, 2020, 09:24:45 AM

PowerBand Makes First Payment In Connection With CB Auto Group Acquisition

PowerBand Solutions (TSXV: PBX) this morning announced that it has received exchange approval for its...

Monday, November 30, 2020, 09:20:19 AM