Welcome to our dedicated page for PROPELLUS news (Ticker: PRPS), a resource for investors and traders seeking the latest updates and insights on PROPELLUS stock.
Propellus Inc., trading under the symbol PRPS, is an Oklahoma-based alternative finance company dedicated to assisting small businesses with their cash flow needs. Originally founded in 1955 as a non-profit organization focused on empowering entities through consulting, training, and member services, Propellus Inc. transitioned into a versatile financial services provider.
The company offers a range of financing solutions, including payroll advances, merchant cash advances, accounts receivable factoring, short-term line of credit loans, and other types of cash flow financing with loan amounts varying from $20,000 to $500,000. This diversification enables small businesses to access necessary funds, particularly in an economic climate where traditional banking channels are restrictive due to rising interest rates and tighter credit.
In the fiscal year ending March 31, 2023, Propellus Inc. reported significant improvements in operations and procedures implemented during the global pandemic, which have laid the groundwork for enhanced performance and growth. The company’s CEO, Ralph Johnson, emphasized the strategic advantage of Propellus' financing alternatives in the current economic context, predicting increased market share and profitability in the upcoming fiscal year.
Propellus Inc. is committed to guiding, mentoring, and educating its clients by providing them with the resources needed to boost organizational effectiveness. This commitment not only strengthens individual organizations but also contributes to building thriving communities.
For further information or investor inquiries, please contact Propellus Investor Relations at (212) 220-9755 or info@propelluscorp.com.
Propellus, an alternative finance company, has released its financial results for the fiscal year ending March 31, 2024. The company reported total revenues of $598,629, a significant decrease from $1,408,915 the previous year. Total expenses rose to $4,820,115 from $2,082,492, leading to a net loss of $4,221,486, up from $673,577 in the prior year. The loss per share increased to ($0.39) from ($0.06).
Despite these challenges, Propellus's funding activity in Q1 reached its highest level in over a year, with a 40% increase in collections. The company also reduced its outstanding common shares by 13% year over year and 38% since December 31, 2023, following a capital restructure. Additionally, Propellus wrote down $3,159,221 of predominantly pre-Covid non-performing transactions.
The company has introduced a new corporate dividend policy to distribute 50% of free monthly cash flow to shareholders. Propellus is exploring options to expand its capital base by up to $20,000,000 to meet growing market demand.
Propellus Inc. (OTC PINK: PRPS) reported impressive financial growth for the fiscal year ending March 31, 2022, with revenues soaring to $1,627,927, a nearly 700% increase from $237,247 the previous year. Operating expenses decreased by 50%, totaling $4,033,700. Despite these positive changes, the company reported a net loss of $2,405,773, resulting in an earnings per share (EPS) of $(0.27), an improvement from $(0.89) the prior year. CEO Ralph Johnson expressed optimism about future profitability following a successful transition to public status.
Propellus Inc. (OTC PINK: PRPS) has completed a reorganization with Sunvalley Solar Inc., making itself the Parent/Public Company. Sunvalley Solar will now operate as a subsidiary named Sunvalley Solar Tech, Inc. The share exchange agreement removed Sunvalley Solar from PRPS operations. Ralph Johnson has been appointed CEO and Director, succeeding in previous financial ventures by growing significant assets. Propellus aims to assist small businesses during Covid-19 by offering quick cash flow solutions ranging from $20,000 to $500,000.
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