LMP Automotive Holdings, Inc. Announces Senior Management Addition
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) announced the addition of Amanda Bailes as Senior Automotive Controller, effective July 19, 2021. Bailes brings 20 years of accounting and finance experience, previously serving as CFO of Mustang Holdings. She will oversee dealership accounting and the Human Resources Department. CFO Robert Bellaflores emphasized LMP's commitment to recruiting top talent while ensuring operational excellence and continued earnings growth. LMP Automotive focuses on consolidating automotive dealership groups and enhancing customer experiences through innovative e-commerce strategies.
- Experienced hire with 20 years in accounting and finance.
- Bailes' expertise may strengthen financial management.
- Commitment to recruiting talent signals growth potential.
- Dependence on external financing for operations.
- Risks related to maintaining market acceptance and reputation.
- Uncertainties in competition and industry dynamics.
FORT LAUDERDALE, FL, July 12, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (“LMP” or the “Company”), an e-commerce and facilities-based automotive retailer in the United States, today Announced Senior Management Addition.
Amanda Bailes, a senior executive in accounting and finance with 20 years of experience in public and private industry accounting, has been hired as Senior Automotive Controller of LMP. Ms. Bailes will be responsible for directing and coordinating all dealership accounting operational functions, managing the accumulation and consolidation of all financial data necessary for reporting accurate and timely business results, and will manage the Company’s Human Resources Department. Prior to joining the Company, Mrs. Bailes was Chief Financial Officer of Mustang Holdings, Inc. from 2012 to 2021. Between 2007 and 2012, Mrs. Bailes was Comptroller, Corporate Secretary/Treasurer of Smith Company Motor Cars. Prior to 2007, Ms. Bailes was a manager with the accounting firm of Dixon Hughes Goodman LLP. Ms. Bailes is a Certified Public Accountant and has a BSBA in Accounting from West Virginia University and a Master’s Degree in Industrial and Employee Relations from Marshall University in West Virginia.
Robert Bellaflores, the Company’s Chief Financial Officer commented, “I would like to welcome Mrs. Bailes to the LMP accounting team. LMP plans to continue to promote and recruit best of breed talent within our organization as well as externally in these record setting times, while maintaining operational excellence and impressive earnings growth.”
Mrs. Bailes will assume the role of Senior Automotive Controller effective July 19, 2021 and report directly to Mr. Bellaflores.
ABOUT LMP AUTOMOTIVE HOLDINGS, INC.
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) is a growth company with a long-term plan to profitably consolidate and partner with automotive dealership groups in the United States. We offer a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance.
Our proprietary e-commerce technology and strategy are designed to disrupt the industry by leveraging our experienced teams, growing selection of owned inventories and physical logistics network. We seek to provide customers with a seamless experience both online and in person. Our physical logistics network enables us to provide convenient free delivery points for customers and provide services throughout the entire ownership life cycle. We use digital technologies to lower our customer acquisition costs, achieve operational efficiencies and generate additional revenues. Our unique growth model generates significant cash flows, which funds our innovation and expansion into new geographical markets, along with strategically building out dealership networks, creating personal transportation solutions that consumers desire.
For more information visit: lmpmotors.com
FORWARD-LOOKING STATEMENTS:
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,” “potential,” “project,” “projection,” “seek,” “can,” “could,” “may,” “should,” “would,” will,” the negatives thereof and other words and terms of similar meanings. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: our dependence upon external sources for the financing of our operations; our ability to effectively executive our business plan; our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our services and platform; our ability to manage the growth of our operations over time; our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others; our ability to maintain relationships with existing customers and automobile suppliers, and develop relationships; and our ability to compete and succeed in a highly competitive and evolving industry; as well as other risks described in our SEC filings. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
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