C-Bond Systems Acquires A1 Glass Coating of San Antonio, Texas, and Expects to Add $2 Million of Annual Revenue

Rhea-AI Summary

On July 7, 2021, C-Bond Systems (OTC: CBNT) announced an agreement to acquire 80% of A1 Glass, a Texas-based distributor of window film solutions, with an option for the remaining 20%. A1 Glass has generated approximately $2 million in annual revenue for the past two years and has a strong project pipeline, including over $500,000 for school installations using C-Bond products. Michael Wanke, A1 Glass's owner, will serve as President of C-Bond's Safety Solutions Group. C-Bond aims to consolidate more than $2 million in annual revenues from this acquisition.

Positive

• Acquisition of A1 Glass expected to add over $2 million in annual revenue.
• Strong project pipeline for A1 Glass, including $500,000 of installations for schools.
• Michael Wanke joining as President enhances leadership and expertise.

Negative

• Dependence on A1 Glass's ability to execute its project pipeline for revenue.

A1 Glass Is a Premier Distributor and Expert Installer of C-Bond Products

A1 Glass Owner-Operator Michael Wanke Joins C-Bond as President of its Safety Solutions Group

HOUSTON, July 07, 2021 (GLOBE NEWSWIRE) -- C-Bond Systems (the “Company” or “C-Bond”) (OTC: CBNT), a nanotechnology solutions company, announced today that it has entered into a Share Exchange Agreement (the “Exchange Agreement”) with Mobile Tint, LLC (d/b/a A1 Glass Coating), a Texas Limited Liability Company (“A1 Glass”), to acquire 80% of A1 Glass. C-Bond has the right to purchase the remaining 20% of A1 Glass and several closing conditions remain outstanding.

A1 Glass, a premier distributor and expert installer of window film solutions including C-Bond BRS and C-Bond Secure, has been in business for more than 30 years and produced annual revenue of approximately $2 million in both 2019 and 2020. As part of the transaction, A1 Glass’ owner-operator, Michael Wanke, has agreed to join C-Bond as President of its Safety Solutions Group.

A1 Glass has a robust pipeline of projects for 2021 and beyond, including more than $500,000 of projects to install C-Bond BRS (ballistic-resistant system) and C-Bond Secure at multiple schools in Texas. In addition, A1 Glass has purchase orders for other projects ranging from hospitals, to historic buildings, executive offices, and more. C-Bond expects to consolidate revenues in excess of $2 million annually from the acquisition of A1 Glass.

“A1 Glass is excited to become a part of C-Bond, which is known for its innovative glass safety solutions, and eager to work together to grow the combined companies,” said Wanke. “A1 Glass’ goal has always been to deliver best-in-class window film solutions, and as part of C-Bond, we believe we are better positioned than ever to execute that goal.”

“We are proud to join forces with Mike Wanke and his A1 Glass team, with whom we have been working seamlessly for several years,” stated Scott R. Silverman, Chairman and CEO of C-Bond. “This is an important, strategic business combination and we will work to efficiently integrate our businesses and maximize our companies’ strengths. We are bringing together our unparalleled glass strengthening technologies with A1 Glass’ expert window film installation capabilities to provide the best solutions for our customers,” continued Silverman.

C-Bond BRS is a ballistic-resistant film system that consists of the patented C-Bond glass strengthening technology and security film. C-Bond BRS is validated by an independent third-party laboratory to provide National Institute of Justice (NIJ) Level I, Level IIA, Level II, and Underwriters Laboratories (UL) 752 ballistic-resistant protection. C-Bond Secure is a multi-purpose glass strengthening primer and window film mounting solution that is proven to deter forced entry.

C-Bond will file additional details about the transaction including the Exchange Agreement on Form 8-K with the SEC.

About A1 Glass Coating
A1 Glass Coating in San Antonio, Texas, is an award-winning installer of window tint and film solutions for individuals and business owners across Texas. The company specializes in automotive window tinting, residential window film, and commercial window film that stops harmful UV rays from passing through its films, resulting in reduced glare, comfortable temperatures, and lower energy bills. A1 Glass also carries solutions that offer forced-entry and ballistic-resistant protection and films that protect glass from scratches, graffiti, other types of vandalism. A1 Glass Coating has been in business for over 30 years.

About C-Bond                
C-Bond Systems, Inc. (OTC: CBNT) is a Houston-based advanced nanotechnology company and marketer of the patented and patent-pending C-Bond technology, developed in conjunction with Rice University and independently proven to significantly strengthen glass in key automotive and structural applications. The Company’s Transportation Solutions Group sells C-Bond nanoShield, a liquid solution applied directly to automotive windshields, sold through distributors. The Company’s Safety Solutions Group sells ballistic-resistant glass solutions and forced entry deterrent solutions directly to private enterprises, schools, and government agencies. The Company also sells disinfection products, including MB-10 Tablets. For more information, please visit our website: www.cbondsystems.com, Facebook: https://www.facebook.com/cbondsys/ and Twitter: https://twitter.com/CBondSys.

Forward-Looking Statements
Statements in this press release about our future expectations, including the likelihood that we expect to add $2 million of annual revenue; the likelihood that we will purchase the remaining 20% of A1 Glass; the likelihood that A1 Glass has a robust pipeline of projects for 2021 and beyond, including more than $500,000 of projects to install C-Bond BRS and C-Bond Secure at multiple schools in Texas; the likelihood that we expect to consolidate revenues in excess of $2 million annually from the acquisition of A1 Glass; the likelihood that as part of C-Bond, A1 Glass is better positioned than ever to deliver best-in-class window film solutions; the likelihood that we will work to efficiently integrate our businesses and maximize our companies’ strengths; constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, C-Bond’s ability to raise capital; the Company’s ability to successfully commercialize its products; the effect of the COVID-19 global pandemic on the Company’s and its customers’ ability to operate; the Company’s ability to source materials; the Company’s ability to retain key employees and consultants; the Company’s ability to close the Exchange Agreement with A1 Glass; as well as other risks. Additional information about these and other factors may be described in the Company’s filings with the Securities and Exchange Commission (“SEC”) including its Form 10-K filed on April 14, 2021, its Forms 10-Q filed on May 14, 2021, November 16, 2020, and August 14, 2020, and in future filings with the SEC. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

FAQ

What did C-Bond announce on July 7, 2021?

C-Bond announced an agreement to acquire 80% of A1 Glass, a distributor of window film solutions.

How much revenue does A1 Glass generate?

A1 Glass has produced approximately $2 million in annual revenue for the last two years.

What is the strategic importance of C-Bond's acquisition of A1 Glass?

The acquisition aims to enhance C-Bond's safety solutions offerings and expand its market presence.

Who is Michael Wanke?

Michael Wanke is the owner of A1 Glass and will become President of C-Bond's Safety Solutions Group.

What projects is A1 Glass involved in after the acquisition?

A1 Glass has a robust pipeline including over $500,000 in projects for school installations.