BEYOND COMMERCE INC - BYOC STOCK NEWS

Beyond Commerce has signed a definitive agreement to acquire Electric Built, expected to close by September 20, 2022. This acquisition aims to enhance Beyond Commerce's expertise in the electric vehicle sector, providing exclusive access to Electric Built's business connections and operations. The deal also includes rights to acquire additional assets from Electric Built's owner. CEO Geordan Pursglove emphasized the strategic importance of this acquisition in light of the growing electrification of vehicles.

Beyond Commerce, Inc. (OTC PINK:BYOC) reported Q1 2022 results showing a 9% revenue decrease to $1.0 million and a 1% decrease in gross profit at $0.7 million compared to Q1 2021. Despite a gross margin increase to 71.7%, the operating loss rose by 9% to $0.6 million, while the net loss improved to $0.7 million from $6.3 million year-over-year. The company raised $1.0 million from an institutional investor and plans to rebrand, aligning with electric vehicle services.

Beyond Commerce (OTC PINK: BYOC) has signed a Letter of Intent to acquire Electric Built, enhancing its expertise in the electric vehicle sector. This acquisition grants Beyond Commerce exclusive access to Electric Built's commercial operations and connections. Additionally, they will have the right of first refusal to purchase assets from Electrogistics, Inc.. The appointment of Remo Weber as Chief Operating Officer is expected to bolster operations significantly. CEO Geordan Pursglove expressed enthusiasm over the strategic move toward vehicle electrification.

Beyond Commerce has secured exclusive U.S. rights to the low-speed electric vehicle (LSEV) from Eletticars, an Italian automotive firm. The agreement marks a significant entry into the growing LSEV market, projected to reach $1.0 billion by 2021 in the U.S., with a global growth forecast of 15.4% annually through 2026. Beyond Commerce aims to capitalize on the rising demand for electric vehicles, driven by advancements in technology and regulatory pressures.

Beyond Commerce (OTC PINK:BYOC) has acquired a minority stake in CityFreighter, an electric vehicle company focused on last-mile delivery solutions. The Class 3 CF1 Beta BoxVan features innovative technology such as a 150 kW E-Axle and customizable battery configurations. Production is slated for late 2022 to early 2023, aimed at addressing the growing e-commerce demand. CEO Geordan Pursglove notes the strategic partnership will enhance data collection and customer service capabilities. This investment positions Beyond Commerce to benefit from anticipated growth in the electric vehicle sector.

Beyond Commerce, Inc. (OTC PINK:BYOC) announced its Q3 2021 financial results, reporting a 4% revenue increase to $1.0 million and a 12% gross profit increase to $0.7 million. The gross margin improved to 71.9% from 66.8%. Total operating expenses decreased by 7% to $1.5 million. The operating loss was reduced to $0.5 million, down from $0.7 million. However, the net loss for Q3 2021 was $1.5 million, compared to a net loss of $7.7 million in Q3 2020. Cash and cash equivalents were reported at $0.3 million as of September 30, 2021.

Beyond Commerce, Inc. (BYOC) announced its division, SERVICE 800 (S800), will sponsor the Field Service Medical Conference organized by Worldwide Business Research (WBR). The conference aims to connect leaders in the medical device industry, facilitating collaboration to address industry challenges. S800 plans to lead a panel discussion focused on incorporating customer feedback into business strategies. This sponsorship reinforces S800's commitment to enhancing customer experience and operational improvements.

Beyond Commerce, Inc. (OTC Pink: BYOC) announced a $1 million equity financing at a fixed price of $0.01 per share, reflecting a 1,000% premium over the current market price. This investment comes from an existing institutional shareholder and is expected to bolster the company's balance sheet and support growth initiatives. CEO Geordan Pursglove highlighted the company’s resilience during the pandemic and a strong business pipeline, with ongoing contract signings anticipated. The funding is subject to resale under specific regulations in six months.

Beyond Commerce, Inc. (OTC Pink:BYOC) reported Q2 2021 financial results, highlighting a 43% increase in revenue to $1.1 million compared to Q2 2020. The gross profit rose by 46% to $0.8 million, resulting in a gross margin improvement to 69.5%. Despite these gains, the operating loss widened to $0.9 million, and the net loss was $1.1 million. Total cash and cash equivalents stood at $0.5 million. Management remains optimistic about future growth, citing strong client renewals and strategic planning assistance during the pandemic.