POSABIT SYSTEMS CORP - POSAF STOCK NEWS

POSaBIT Systems Corporation (OTC: POSAF) anticipates exceeding its FY 2021 revenue guidance, projecting revenue above $20.5 million. The company secured a new processing agreement with a significant Multi-Store Operator in California in Q4 2021. POSaBIT has established relationships with 8 of the top 12 cannabis merchants in its home state of Washington, contributing to its strong market position. The CEO, Ryan Hamlin, expressed optimism about the company’s growth and upcoming performance.

POSaBIT Systems Corporation (CSE:PBIT, OTC:POSAF) reported record revenue of $6.3 million for Q3 2021, a 173% increase year-over-year and 29% sequentially. This performance led to a revised full-year 2021 revenue guidance of $19.0 to $20.5 million, reflecting over 158% growth. The company anticipates 2022 revenue between $36.0 to $39.5 million. Despite a net loss of $(6.9 million), attributed to non-cash expenses, POSaBIT continues to expand its merchant base and product offerings, capitalizing on the growing cannabis market.

POSaBIT Systems Corporation (OTC:POSAF) will host a conference call on November 30, 2021, at 4:30 p.m. Eastern Time, to discuss its third quarter 2021 results. The call will be accessible via toll-free and international numbers, accompanied by a live webcast. A replay will be available approximately one hour after the event concludes. POSaBIT specializes in payments infrastructure for the cannabis industry, offering compliant and innovative solutions to cash-only businesses.

POSaBIT Systems Corporation (OTC: POSAF) reports a significant revenue increase for Q3 2021, expecting approximately $6.36 million, a 177% rise from $2.3 million in Q3 2020. The company is also revising its conference call date for earnings announcement, expected on or before November 30, 2021. POSaBIT specializes in blockchain-enabled payment processing for cash-only businesses, notably in the cannabis sector, providing innovative and compliant solutions.

POSaBIT Systems Corporation (OTC: POSAF), a leader in cannabis industry payment systems, has been approved as an integrator for Washington State’s new traceability system (CCRS), set to launch in December. Christine Foss, Director of Product at POSaBIT, highlighted the team's efforts to prepare their system for this transition. The company is committed to providing training and support to partners to ensure a smooth implementation. This move positions POSaBIT favorably within the evolving regulatory landscape of the cannabis market.

POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) has launched 'Cash Advance', a loan factoring program aimed at cannabis industry retailers. This initiative enables POSaBIT’s merchant partners to quickly obtain loans and pay them back through deductions from in-store processing. CEO Ryan Hamlin highlighted that this service addresses liquidity challenges faced by cannabis retailers, allowing them to scale operations or procure products effectively. The Cash Advance program will begin in Q4 with select beta accounts, followed by a full rollout in early 2022.

POSaBIT Systems Corporation (OTC:POSAF), a leader in cannabis payment solutions, will host a conference call on November 10, 2021, at 4:30 p.m. Eastern Time, to discuss third-quarter 2021 results. Investors can participate via toll-free numbers or join a live webcast. POSaBIT specializes in payment processing for cash-only businesses in the cannabis sector. The company aims to provide compliant and user-friendly payment solutions, enhancing merchant and consumer experiences.

POSaBIT Systems Corporation (OTC: POSAF) has launched the POSaBIT Kiosk, an innovative payment solution for cannabis dispensaries and retailers. This standalone kiosk enables customers to create carts and pay via debit cards in-store or online. CEO Ryan Hamlin described it as a 'game-changing' product, enhancing in-store marketing and order processing. Currently in beta testing, the kiosk will be fully deployed in Q1 2022. POSaBIT focuses on blockchain-enabled payment processing for high-risk industries, offering a compliant and user-friendly solution.

POSaBIT Systems Corporation (OTC: POSAF) has launched 'POSaBIT Connect', a publicly available API designed for third-party integrations, enhancing accessibility to its product suite within the cannabis industry. This initiative aims to facilitate seamless integration for businesses, allowing them to connect to POSaBIT services across various operational aspects such as menus, sales data, and payments. CEO Ryan Hamlin emphasized that this open API represents a significant advancement for the company and the cannabis sector, promoting a user-friendly platform for retailers.