AMERITRUST FNCL TECHS INC - PWWBF STOCK NEWS

PowerBand Solutions (OTCQB: PWWBF) filed its condensed interim financial statements for Q3 2020, showing total revenue of $576,725, up from $461,116 in Q3 2019, but a net loss of $2,878,428, compared to $2,510,627 last year. The company made strides in expanding its DRIVRZ platform, integrating with major lenders, and adding partnerships with insurance firms. Highlights include auctioning over $3 million in vehicle value through its joint venture, D2D, and geographic expansion across 20 U.S. states. PowerBand aims to revolutionize the automotive marketplace.

PowerBand Solutions Inc. (OTCQB: PWWBF) has announced a definitive agreement to acquire up to 15% of CB Auto Group's shares for USD $5 million. The acquisition, structured in four tranches, begins with an initial payment of USD $500,000 for 10% of shares. The agreement grants PowerBand access to more than 67 million consumers via CB Auto's platform, enabling transactions across the vehicle marketplace through DRIVRZ™, PowerBand's innovative transaction platform.

PowerBand Solutions Inc. has announced that its virtual transaction platform, DRIVRZ, will offer drivers a 14-day return and exchange policy for leased vehicles. This initiative allows users to return vehicles if unsatisfied and exchange them for others of similar or greater value, with no mileage charges up to 500 miles. The program is in collaboration with D&P Holdings, which provides GAP policies to protect both consumers and dealers. The DRIVRZ platform enables users to buy, lease, sell, and trade vehicles from anywhere, with access to a database of 4.5 million vehicles.

PowerBand Solutions Inc. has signed a Letter of Intent with CB Auto Group to integrate its virtual transaction platform, DRIVRZ, directly into CB Auto's service offerings. This partnership aims to provide access to over 67 million U.S. consumers for buying, leasing, selling, and trading vehicles via DRIVRZ. PowerBand will pay USD $5 million for a 15% stake in CB Auto, with payments structured over the next year. The deal may enhance PowerBand's market presence in automotive fintech and improve consumer engagement.

PowerBand Solutions Inc. has appointed Kevin Wilks as the new National Sales Manager for DRIVRZ US, LLC. With extensive experience in automotive finance, Wilks will lead sales and business development for PowerBand's virtual transaction platform. This platform, available in 14 states, allows users to buy, sell, lease, and trade vehicles using digital devices, enhancing convenience for consumers and dealers. PowerBand aims to disrupt the automotive industry with its cloud-based services.

PowerBand Solutions Inc. (PWWBF) has announced the acquisition of a 60% stake in IntellaCar Solutions, LLC for USD $1.5 million in cash and 2 million common shares, totaling CDN $2.42 million. This deal, effective October 28, 2020, aims to enhance PowerBand's virtual transaction platform, DRIVRZ, facilitating vehicle transactions for dealers and consumers. IntellaCar's digital tools are expected to increase sales and efficiency for automotive dealers. The acquisition is pending approval from the TSX Venture Exchange.

PowerBand Solutions Inc. (OTCQB:PWWBF) has successfully converted a $1.5 million Convertible Debenture, with the issuance of 21,266,968 common shares. $1 million converts at $0.065 per share and $500,000 at $0.085 per share. This shares issuance follows the granting of 950,000 Restricted Share Units and 500,000 options, both vesting immediately. Post-issuance, the company has 135,434,856 common shares outstanding. PowerBand is a fintech company offering a cloud-based platform for automotive transactions, planned for North American and global markets.

Premier Automotive Group has partnered with PowerBand Solutions to integrate its DRIVRZ virtual transaction platform across its 24 dealerships, which are projected to achieve nearly USD $1 billion in sales. This platform allows users to buy, lease, sell, trade, finance vehicles, and purchase insurance via digital devices. Premier Auto, founded in 1995, operates in several states, including California and Texas, and is recognized for its innovation in the auto sales sector. The partnership seeks to revolutionize the automotive marketplace.

PowerBand Solutions Inc. (OTCQB:PWWBF) has secured a second Forward Flow Purchase and Security Agreement via its U.S. leasing division, MUSA Auto Finance, with a California credit union. This builds on the USD $300 million financing established in July 2020. These arrangements are intended to enhance lease originations via PowerBand's virtual platform, DRIVRZ, which will feature 4.5 million vehicles for lease and sale. The platform is designed for quick approvals and is expanding across 14 states, serving over 200 million people.