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PowerBand Solutions Inc. (PWWBF) is a fintech provider revolutionizing the automotive industry through its integrated, cloud-based transaction platform, DRIVRZ™. This platform streamlines transactions among consumers, dealers, and funders, disrupting traditional methods. Despite facing challenges like a management cease trade order due to delayed financial filings, the company remains committed to transparency and operational improvement. With listings on the TSX Venture Exchange, OTC Pink, and Frankfurt markets, PowerBand is dedicated to redefining automotive transactions in the United States.
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PowerBand Solutions announces the appointment of HDCPA Professional as its new auditor, replacing MNP LLP. HDCPA, a CPA firm with offices in Toronto and Mississauga, is licensed with CPA Ontario and registered with the Canadian Public Accountability Board. The change of auditor was reviewed and approved by PowerBand's board of directors.
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PowerBand Solutions Inc. welcomes back former MUSA Auto Finance founder and CEO Jeff A. Morgan as the new CEO, along with Steven Lee returning to the Board of Directors. Mr. Morgan expresses gratitude towards Darrin Swenson and Bryan Hunt for their support. The company aims to enhance its business model and engage with its team, customers, and investors.
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PowerBand Solutions (PWWBF) has been granted a 30-day extension by the TSX Venture Exchange to appoint two independent directors, with a new deadline set for April 30, 2024.
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PowerBand Solutions (PBX) announces the resignation of its auditors, MNP LLP. MNP resigned on their own initiative, with no reportable events, disagreements, or unresolved issues. PowerBand is now looking for a successor auditor.
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PowerBand Solutions (PBX) appoints CFO Shibu Abraham to the board of directors, satisfying the minimum requirements for the number of directors required by the TSX Venture Exchange. The trading halt on the company's common shares is anticipated to be lifted. The board of directors now consists of Bryan Hunt, a non-executive director, and two officers, Darrin Swenson, CEO, and Shibu Abraham, CFO.
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PowerBand Solutions (TSXV:PBX)(OTCQB:PWWBF)(Frankfurt:1ZVA) announced that its common shares have been temporarily halted for trading by the TSX Venture Exchange due to the departure of three board members, leading to non-compliance with the Exchange's requirement of a minimum of three directors. The Company has until January 5th, 2024 to appoint an additional director, failing which its common shares will be suspended from trading. PowerBand has initiated the process to fill the board vacancies.
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PowerBand Solutions (PBX) Announces Resignation of Board Members and Plans for Securing Funding Lines
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PowerBand Solutions (PBX) Announces Successful Results of Annual General and Special Meeting of Shareholders
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PowerBand Solutions (TSXV:PBX)(OTCQB:PWWBF)(Frankfurt:1ZVA) announced the filing of its Interim Consolidated Financial Statements and Management's Discussion and Analysis report for the three and nine-month period ended September 30, 2023. Revenue for Q3 2023 was $555,398, consistent with Q2 revenue of $497,549. The company had no new lease originations in Q2 and Q3, with revenues generated from servicing the existing lease portfolio. Adjusted EBITDA loss for Q3 2023 decreased by $332,395 compared to Q2 2023. Cash on hand as of September 30, 2023, was $4,209,210, down from $10,299,414 as of December 31, 2022. The company is engaging with funding partners to re-commence lease origination.
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PowerBand Solutions (PBX) Announces Resignation of Board Member Geoffrey Belsher, CEO Darrin Swenson Expresses Gratitude - PowerBand Solutions, a leading e-commerce solution for vehicle leasing and financing, announced the resignation of board member Geoffrey Belsher. CEO Darrin Swenson expressed gratitude for Belsher's contributions.
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FAQ
What is the current stock price of AMERITRUST FNCL TECHS (PWWBF)?
The current stock price of AMERITRUST FNCL TECHS (PWWBF) is $0.1 as of December 20, 2024.
What is the market cap of AMERITRUST FNCL TECHS (PWWBF)?
The market cap of AMERITRUST FNCL TECHS (PWWBF) is approximately 53.4M.
What is PowerBand Solutions Inc. known for?
PowerBand Solutions Inc. is renowned for its fintech solutions that revolutionize the automotive industry.
What sets PowerBand apart from traditional automotive companies?
PowerBand's integrated, cloud-based transaction platform, DRIVRZ™, facilitates seamless transactions among consumers, dealers, and funders, offering a new and efficient approach.
What challenges has PowerBand faced recently?
PowerBand encountered a management cease trade order due to delays in filing financial statements, but the company is actively working to resolve these issues.
Where is PowerBand listed in the stock market?
PowerBand is listed on the TSX Venture Exchange, OTC Pink, and Frankfurt markets, providing investors with various trading options.
What is PowerBand's primary goal?
PowerBand aims to redefine automotive transactions in the United States through its innovative transaction platform and commitment to operational transparency.
How does PowerBand's DRIVRZ™ platform benefit customers?
The DRIVRZ™ platform simplifies and enhances automotive transactions, making the process smoother for consumers, dealers, and funders alike.
What initiatives is PowerBand taking to address its challenges?
PowerBand continues to prioritize transparency and operational improvement, focusing on resolving issues related to financial filings and regulatory compliance.
What market presence does PowerBand have?
With listings on multiple stock exchanges, including the TSX Venture Exchange, OTC Pink, and Frankfurt markets, PowerBand has a strong market presence.
How does PowerBand's platform impact the automotive industry?
PowerBand's platform disrupts traditional automotive practices by streamlining transactions and fostering greater efficiency and collaboration among key stakeholders.
What can investors expect from PowerBand Solutions Inc. in the future?
Investors can anticipate continued innovation, growth, and market expansion from PowerBand Solutions Inc. as the company navigates challenges and pursues its vision of transforming the automotive industry.
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