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POSABIT SYSTEMS CORP (POSAF) is a leading provider of point of sale (POS) solutions for the cannabis industry. The company offers a comprehensive suite of products that streamline operations, improve customer experience, and ensure compliance with state regulations. POSABIT's innovative technology allows dispensaries to process transactions securely, track inventory in real-time, and generate detailed reports for business analysis. With a strong focus on customer satisfaction and industry expertise, POSABIT SYSTEMS CORP continues to expand its market presence and drive growth in the rapidly evolving cannabis sector.
POSaBIT Systems Corporation (OTC:POSAF) has announced its entry into the New Mexico cannabis market by partnering with a major retail chain. This marks the company's operation in its 15th state as part of its initiative to expand across the U.S. cannabis sector. CEO Ryan Hamlin expressed enthusiasm for entering New Mexico, recognizing it as an emerging market. POSaBIT specializes in payment processing solutions for cash-only businesses, particularly in high-risk sectors like cannabis, aiming to enhance safety and transparency for merchants and consumers alike.
POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) announced its participation in Canaccord Genuity's 41st Annual Growth Conference on August 11, 2021. The presentation is scheduled for 4:00-4:25 PM ET and will focus on the company's innovative payment solutions for the cannabis industry. Investors and interested parties can join the webcast here. POSaBIT specializes in blockchain-enabled payment processing, aiming to improve cash-only business operations in emerging markets.
POSaBIT Systems Corporation (OTC:POSAF) has announced its trading on the OTCQB Venture Market, enhancing trading opportunities for U.S. investors. This milestone is vital for the company's growth strategy. POSaBIT is also expecting DTC eligibility soon, which will facilitate electronic clearing and settlement of its shares, thus improving trading efficiency. The OTCQB offers better visibility and compliance standards, which can positively impact investor confidence. POSaBIT continues to trade on the Canadian Securities Exchange under the ticker PBIT.
POSaBIT Systems Corporation (CSE: PBIT, OTC:POSAF) announced a partnership with springbig, enhancing its payment infrastructure in the cannabis industry. This integration offers dispensaries improved loyalty programs, marketing tools, and data insights. CEO Ryan Hamlin emphasized the collaboration as industry-leading, while springbig's CEO Jeffrey Harris noted the partnership fosters deeper consumer-retailer connections. The two companies will also host a free webinar on July 28 to showcase the new integration, which allows seamless loyalty rewards and enhanced marketing capabilities.
POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) reported robust financial results for Q2 2021, with revenue soaring 232% to $5.0 million, up from $1.5 million in Q2 2020. Transactional sales reached $87.3 million, a 331% increase, and gross profit climbed 350% to $1.3 million. However, the company recorded a net loss of $878,000, compared to $242,000 in the same quarter last year. POSaBIT expects continued growth, raising its annual revenue guidance to $17.5M-$19M. Plans to expand operations into Canada and additional U.S. states are also underway.
POSaBIT Systems Corporation (CSE: PBIT, OTC:POSAF) will host a conference call on July 22, 2021 at 4:30 p.m. Eastern Time to discuss its second quarter 2021 results. Investors can join the call via toll-free number 888-506-0062 or internationally at 973-528-0011 using entry code 645461. A live webcast will also be available at this link. A replay of the call will be accessible about an hour after the event concludes.
POSaBIT Systems Corporation (CSE: PBIT, OTC:POSAF) announces management's presentation at the LD Micro Virtual Investor Conference, scheduled for June 8, 2021, at 4:30 p.m. ET (Track 4). The company, known for its innovative payment processing and point-of-sale systems targeting cash-only businesses in the cannabis sector, is set to share insights during this event. A live audio webcast will be available, along with an archive of the presentation. For more details, visit ldmicrojune2021.mysequire.com.
POSaBIT Systems Corporation (CSE:PBIT, OTC:POSAF) has reported record financial results for Q1 2021, marking its largest revenue quarter ever. Revenue soared by 276% to $3.55 million, with gross profit jumping 1,170% to $890 thousand. The adjusted EBITDA reached $71 thousand, signaling three consecutive profitable quarters. Transactional sales for card services surged 308% to $64 million. POSaBIT forecasts total revenue between $14.5 million and $16 million for FY 2021, with transaction sales estimated at $275 million to $300 million.
POSaBIT Systems Corporation (CSE: PBIT, OTC:POSAF) is set to host a conference call and live webcast on May 25, 2021, at 4:30 p.m. Eastern Time to discuss its first quarter 2021 results. The financial technology company specializes in payment processing and point-of-sale systems for cash-only businesses, particularly in the cannabis sector. Interested investors can join the call via toll-free or international numbers, with a live webcast available. A replay will be accessible one hour post-event.
POSaBIT Systems Corporation (CSE: PBIT) (OTC: POSAF) has appointed Matthew Fowler as Chief Financial Officer of POSaBIT USA. With over a decade of finance experience, Fowler previously held senior roles at AuthenticID and Phytelligence. Ryan Hamlin, CEO/co-founder, expressed enthusiasm for Fowler's contribution to the company's growth at a pivotal time. Fowler's responsibilities will include overseeing finance, legal, human resources, and operations. His expertise in financial management is expected to enhance POSaBIT's innovative payment solutions in the cannabis industry.
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