Findit, Inc. Report's 1st Quarter Profit for Period Ending March 31, 2021

Rhea-AI Summary

Findit, Inc. (OTC PINK:FDIT) reported a net profit of $4,067 for the first quarter ending March 31, 2021, a significant turnaround from a net loss of $16,217 in the same period last year. President Raymond Firth expressed optimism about maintaining profitability throughout 2021, focusing on new revenue streams, including advertising on its platform. The company also received its first comment letter from the SEC regarding its Form S1 registration statement, indicating ongoing regulatory engagement.

Positive

• Achieved a net profit of $4,067 in Q1 2021 compared to a loss of $16,217 in Q1 2020.
• Plans to diversify revenue streams through advertising on Findit App and website.

Negative

• None.

ATLANTA, GA / ACCESSWIRE / April 27, 2021 / Findit, Inc. (OTC PINK:FDIT) reported a profitable first quarter for period ending March 31, 2021. The company reported a net profit of $4,067 versus a net loss of $16,217 for the same period one year ago March 31, 2020.

Findit president, Raymond Firth, stated, "We are very pleased to be able to report a profitable first quarter. We are focusing on new revenue streams that include running ads in the Findit App and on the website. We are currently looking into ad publishers to run ads on Findit.com. Our hope for this year is to maintain profitability in 2021. The first quarter was a positive start that we hope to continue over the course of 2021."

Findit, Inc. has received its first comment letter from the S.E.C. regarding it Form S1 registration statement and will be filing its response through Edgar.

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About Findit, Inc.

Findit, Inc., owns Findit.com which is a Social Media Content Management Platform that provides an interactive search engine for all content posted in Findit to appear in Findit search. The site is an open platform that provides access to Google, Yahoo, Bing and other search engines access to its content posted to Findit so it can be indexed in these search engines as well. Findit provides Members the ability to post, share and manage their content. Once they have posted in Findit, we ensure the content gets indexed in Findit Search results. Findit provides an option for anyone to submit URLs that they want indexed in Findit search result, along with posting status updates through Findit Right Now. Status Updates posted in Findit can be crawled by outside search engines which can result in additional organic indexing. All posts on Findit can be shared to other social and bookmarking sites by members and non-members. Findit provides Real Estate Agents the ability to create their own Findit Site where they can pull in their listing and others through their IDX account. Findit, Inc., is focused on the development of monetized Internet-based web products that can provide an increased brand awareness of our members. Findit Inc., trades under the stock symbol FDIT on the OTC Pinksheets.

Safe Harbor:
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word believe or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Findit Inc. to differ materially from those implied or expressed by such forward-looking statements. This press release speaks as of the date first set forth above, and Findit Inc. assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.

CONTACT:
Clark St. Amant
404-443-3224

SOURCE: Findit, Inc.

View source version on accesswire.com:
https://www.accesswire.com/642266/Findit-Inc-Reports-1st-Quarter-Profit-for-Period-Ending-March-31-2021

FAQ

What were Findit, Inc.'s profits for the first quarter ending March 31, 2021?

Findit, Inc. reported a net profit of $4,067 for the first quarter ending March 31, 2021.

How did Findit, Inc.'s Q1 2021 performance compare to Q1 2020?

In Q1 2021, Findit, Inc. made a net profit of $4,067, unlike the net loss of $16,217 in Q1 2020.

What new revenue streams is Findit, Inc. exploring?

Findit, Inc. is focusing on running ads in the Findit App and on its website to generate new revenue.

What does Findit, Inc.'s first SEC comment letter indicate?

The first SEC comment letter indicates that Findit, Inc. is actively engaging with regulatory requirements regarding its Form S1 registration statement.