POSABIT Systems Corporation (POSAF)

[makinezmoney]

$POSAF: Monster revenues........ Undervalued here sub $0.50


This should easily be a $5/sh stock.


At a MINIMUM !!!!!!!!



This GROWTH is just awesome

If you weren't able to make the second quarter earnings call, check out this article for an overview of our second quarter!https://t.co/R2uoZjPCeN

— POSaBIT (@POSaBIT) July 22, 2021

GO $POSAF

[AskMuncher]

$POSAF POSaBIT Q2 Revenue Increases 232% to USD $5.0M; Increases Guidance for Full Year Revenue to $17.5M - $19M; Plans Expansion to Support Hyper Growth Rate
Press Release | 07/22/2021
POSaBIT Systems Corporation (CSE: PBIT, OTC:POSAF), the leading provider of payments infrastructure in the cannabis industry, today announced its financial results in U.S. dollars for the three months ended June 30, 2021.

“We delivered another quarter of exceptionally strong revenue growth and are increasingly enthusiastic about the trajectory of our business for the remainder of 2021 and beyond,” said Ryan Hamlin, CEO and Co-founder of POSaBIT. “In just six months we have already exceeded our 2020 full year revenue and all indicators point towards a doubling of revenue for the second year in a row in 2021. Accordingly, we are raising our top-line guidance by more than 20% for the full year 2021 given our accelerating momentum and our plans for further expansion. Importantly, our strong financial results are enabling us to reinvest for additional growth. Over the coming months we expect to double our team of professionals with a focus on client support, business development, software development and technical support.”

Hamlin continued, “Customer demand for our suite of cashless payment solutions remains extremely strong, and we are executing well across an established base that includes operations in 14 U.S. states. Later in 2021 we will be leveraging our experience and existing infrastructure to commence operations in Canada, and an additional five to eight U.S. states. Through new offerings, increasing volumes at existing stores and geographic expansion, we expect to capture a large share of the market and continue to grow by helping our clients drive efficiency and top-line revenue.”

Second Quarter 2021 Financial Highlights

Transactional sales for payment processing totaled $87.3 million, up 331% compared with $26.4 million in the second quarter of 2020
Total revenue was $5.0 million, up 232% compared with $1.5 million in the second quarter of 2020
Gross profit was $1.3 million, or 27% of revenue, up 350% compared with $292 thousand, or 20% of revenue in the second quarter of 2020
Net loss was $(878) thousand compared with a net loss of $(242) thousand in the second quarter of 2020
Adjusted EBITDA was $185 thousand compared with $(240) thousand in the second quarter of 2020
Adjusted EBITDA is a non-IFRS measure used by management that does not have any prescribed meaning by IFRS and that may not be comparable to similar measures presented by other companies. The Company defines Adjusted EBITDA as net income or loss generated for the period as reported, before interest, taxes, depreciation and amortization and is further adjusted to remove changes in fair values and expected credit losses, foreign exchange gains and/or losses, impairments. The Company believes this is a useful metric to evaluate its core operating performance.

Warrants and Cash Update

As of June 30, 2021, the company had cash of approximately $5.0 million compared to approximately $1.0 million as of December 31, 2020. This increase was partially driven by approximately $762,000 of cash received from the exercise of 3,804,030 outstanding warrants during the period.

Operational Highlights

Largest ever quarterly increase of new merchants joining the POSaBIT platform
Two large, high volume, multi-state operator (MSO) chains entered into agreements with POSaBit, adding 20 stores each
POSaBIT is pleased to announce the addition of Louis Camhi to its board and Antony “Tony” Stern to its advisory panel. Tony and Louis have extensive capital market experience and will be a strategic asset as we continue to grow.
Financial Results

in US Dollars


Three months ended





Six months ended




June 30,
2021


June 30,
2020


Change





June 30,
2021


June 30, 2020


Change

Revenue


4,958,332


1,492,982


232.1%





8,504,675


2,435,254


249.2%

Cost of goods sold


(3,642,732)


(1,200,592)


203.4%





(6,289,359)


(2,072,031)


203.5%

Gross profit


1,315,600


292,390


349.9%





2,215,316


363,223


509.9%

Gross profit margin


26.5%


19.6%


+6.9bps





26%


14.9%


+11.1bps

Operating costs


(1,094,438)


(570,830)


91.7%





(2,140,479)


(1,200,374)


78.3%

Operating loss


222,162


(278,439)


179.4%





74,837


(837,151)


108.9%

Other expenses (income)


(1,099,394)


44,977


-2544.3%





(1,467,151)


48,604


-3118.6%

Net loss


(878,232)


(233,462)


276.2%





(1,392,314)


(788,547)


76.6%

The following table reconciles Adjusted EBITDA to net loss, as reported.




Three months ended




June 30, 2021


June 30, 2020


March 31, 2021

Loss from continuing operations, as reported


(878,232)



(232,462)



(514,082)

Add back: finance costs


29,464



22,560



34,186

Add back: amortization and depreciation


53,094



89,878



74,152

Add back: fair value digital assets


1,843



1,041



(2,151)

Add back: fair value expected credit losses


7,406



5,672



(8,636)

Add back: derivate liability


1,038,498



-



322,381

Add back: loss on disposal of assets


-



-



1,301

Add back: share-based compensation


139,828



21,878



56,458

Less: gain on discontinued operations


-



(142,580)



-

(Deduct) / add back foreign exchange (gains) / losses


(206,658)



(5,345)



107,156

Adjusted EBITDA


185,043



(240,358)



70,765

2021 Outlook

The Company provides the following revised guidance for the full year 2021.



Prior Guidance

Revised Guidance



(as of May 22, 2021)

(as of July 22, 2021)







Total Revenue

$14.5M - $16.0M

$17.5M - $19M

Transaction sales for card services

$275M - $300M

$350M - $375M

Gross Profit Margin

28% - 32%

Unchanged

Conference Call Information

Date: July 22, 2021
Time: 4:30pm Eastern Time
Toll-Free: 888-506-0062; Entry Code: 645461
International: 973-528-0011; Entry Code: 645461
Live Webcast: https://www.webcaster4.com/Webcast/Page/2708/42043

Conference Call Replay Information:

The replay will be available approximately 1 hour after the completion of the live event.

Toll Free: 877-481-4010
International: 919-882-2331
Replay Passcode: 42043
Replay Webcast: https://www.webcaster4.com/Webcast/Page/2708/42043

Financial Reports

Full details of the financial and operating results are described in the company’s consolidated financial statements with accompanying notes. The consolidated financial statements and additional information about POSaBIT are available on the company’s website at www.posabit.com/investor-relations or on SEDAR at www.sedar.com .

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding our business strategy, product development, timing of product development, events and courses of action.

Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate,” “objective,” “may,” “will,” “might,” “should,” “could,” “can,” “intend,” “expect,” “believe,” “estimate,” “predict,” “potential,” “plan,” “is designed to” or similar expressions suggesting future outcomes or the negative thereof or similar variations. Forward-looking statements may include, among other things, statements about: our expectations regarding our expenses, sales and operations; our future customer concentration; our anticipated cash needs and our estimates regarding our capital requirements and our need for additional financing; our ability to anticipate the future needs of our customers; our plans for future products and enhancements of existing products; our future growth strategy and growth rate; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which POSaBIT will operate in the future, including the demand for our products, anticipated costs and ability to achieve goals. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to, business, economic and capital market conditions; the ability to manage our operating expenses, which may adversely affect our financial condition; our ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; market conditions and the demand and pricing for our products; our relationships with our customers, distributors and business partners; our ability to successfully define, design and release new products in a timely manner that meet our customers’ needs; our ability to attract, retain and motivate qualified personnel; competition in our industry; our ability to maintain technological leadership; our ability to manage risks inherent in foreign operations; the impact of technology changes on our products and industry; our failure to develop new and innovative products; our ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect our business; our ability to manage working capital; and our dependence on key personnel. POSaBIT is an early stage company with a short operating history; it may not achieve profitability; and it may not actually achieve its plans, projections, or expectations.

Important factors that could cause actual results to differ materially from POSaBIT’s expectations include consumer sentiment towards POSaBIT’s products and blockchain/cryptocurrency exchange technology generally, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, technology failures, competition, and failure of counterparties to perform their contractual obligations.

Neither we nor any of our representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither we nor any of our representatives shall have any liability whatsoever, under contract, tort, trust or otherwise resulting from the use of the information in this news release or for omissions from the information in this news release.

ABOUT POSABIT

POSaBIT (CSE: PBIT) is a financial technology company that delivers unique and innovative, blockchain-enabled payment processing and point-of-sale systems for cash-only businesses. POSaBIT specializes in resolving pain points for complex, high-risk, emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly and utilizes top-of-the-line hardware. POSaBIT’s unique solution provides a safer and transparent environment for merchants while creating a better overall experience for the consumer. For additional information, visit: www.posabit.com .

[makinezmoney]

$POSAF: $64Milly in Transactional Volume Last QUARTER !!!!!!!


TORONTO / SEATTLE May 25, 2021– POSaBIT Systems Corporation (CSE: PBIT, OTC:POSAF), a leading financial technology company delivering unique payment processing and point-of-sale (POS) systems for cash-only businesses with a focus on the cannabis industry, is pleased to report its financial results for the three months ended March 31, 2021.

POSaBIT announced its largest revenue quarter in company history and also achieved adjusted EBITDA profitability during the first quarter of 2021. Revenue grew by 276% and gross margin dollars grew 1,170% in Q1 2021 compared to Q1 2020. Revenue for the quarter increased to $3.55 million compared to $942 thousand in Q1 2020. Adjusted EBITDA profitability was $71 thousand for the quarter, representing its third consecutive positive adjusted EBITDA quarter.

Ryan Hamlin, CEO/co-founder of POSaBIT, commented, “2021 is off to a great start. Revenue has nearly quadrupled, operating margins expanded significantly, compared to Q1 of 2020, and we recorded our third consecutive positive adjusted EBITDA quarter. We expect rapid growth to continue in 2021 as we further build out a team, develop best in class technology, and expand our geographic footprint.”



First Quarter 2021 Financial Highlights

? Transactional sales for POSaBIT’s card services business totaled $64 million, representing an increase of 308% compared with $15.7 million in the first quarter of 2020.

? Total revenue was $3.55 million, up 276% compared with $942 thousand in the first quarter of 2020.

? Gross profit was $890 thousand, or 25% of revenue, up 1,170% compared with a gross profit of $71 thousand or 7.5% of revenue in the first quarter of 2020.

? Loss for the quarter was $514 thousand compared with a loss of $555 thousand in the first quarter of 2020.

? Adjusted EBITDA was $71 thousand compared to an Adjusted EBITDA loss of $436 thousand in the first quarter of 2020.



Adjusted EBITDA is a non-IFRS measure used by management that does not have any prescribed meaning by IFRS and that may not be comparable to similar measures presented by other companies. The Company defines Adjusted EBITDA as net income or loss generated for the period as reported, before interest, taxes, depreciation and amortization and is further adjusted to remove changes in fair values and expected credit losses, foreign exchange gains and/or losses, impairments. The Company believes this is a useful metric to evaluate its core operating performance.



Operational Highlights

? On February 23, 2021, the Company completed a strategic investment private placement of units, receiving gross proceeds of $2 million USD.

? On March 30, 2021, the Company announced a partnership with I Heart Jane, the premier online ordering and menu platform for marijuana retailers.



Subsequent Events

? On April 21, 2021, the Company announced the appointment of Don Tringali to the Board of Directors. Mr. Tringali previously served as Chairman of the Board of Directors of two NASDAQ listed companies.

? On May 13, 2021, the Company Announced that Matt Fowler has been appointed Chief Financial Officer of POSaBIT USA.

2021 Outlook

? POSaBIT provides the following revenue and gross margin guidance for the full year 2021.




POSaBIT plans to expand beyond the current 14 US states and launch operations in Canada as well as add 5 to 8 new states fully supported with POSaBIT Payments and POSaBIT Point of Sale.

[cameron86]

Building nicely here. $hbie is another one

[DylonKG]

Reached out to investor relations, their target date for 2020 financials is April 28th. I know they are working on wrapping up the application process for OTC QX exchange upgrade. I think they wanna get QX status before releasing financials because this would enable more explosive growth in the market cap due to higher volume trades. Don’t sleep on this one, I’ve got 200k shares at $0.095 average so I’m over 100% gains thus far. Think gross revenue will be greater than 8 million for 2020 justifying a mild market cap of 80 million bringing that share price to $0.80! Potential peek at q1 should be coming on the 28th as well which should be a record breaking quarter. With it being a pink slip you usually have to bid a couple cents over listed price to execute a trade, but I think in the couple weeks you’ll be happy you picked up! Cheers and good trading.

[DylonKG]

What a massive addition to their payment processing software!
https://finance.yahoo.com/news/posabit-launches-ach-cannabis-payments-120000193.html

[DylonKG]

Huge news today!

https://finance.yahoo.com/news/posabit-launches-ach-cannabis-payments-120000193.html

[DylonKG]

They are going to be upgrading their ticker Symbol to the OTC QX very soon, hopefully within the next couple weeks. At that point volume and liquidity should increase rapidly making it much easier for U.S. investors to purchase this stock. Also expecting annual earnings within the next 30 days. Very excited about the future of this company, I could see 0.40-0.75 on the first run soon after QX symbol upgrade.

[cameron86]

This is a real gem here . Nice fills this morning

[makinezmoney]

$POSAF: With Recreational Marijuana legalization vote today.............


We should be at $2/sh




GO $POSAF

[cameron86]

Looking good here

[makinezmoney]

$POSAF: Bitcoin closing in on $19k now


And weed getting Federal approval in the new year



Its all coming together.



Can you say ........... UNdervalueeeeeeedddddddddddddddd



GO $POSAF

[makinezmoney]

$POSAF: Bitcoin up to $18k now.............



You'll be seeing $20k before the year is over.


At that point, $POSAF should be at $2/sh



GO $POSAF

[makinezmoney]

$POSAF: One day you wake up and $POSAF at


$5............. whatcha gonna do ???????????



We are here at the right time


Stay put.


Flow is coming............. POSABIT ain't going NOWHERE !!!!!!



GO $POSAF

[tiger3]

Bitcoins up huge

[cameron86]

Hahah well I need more shares then. Let’s takenitvthere

[makinezmoney]

$POSAF: I want a bottle of 25 Maccallan..........


When it gets to $3/sh




Can you remember that ??????????



GO $POSAF

[cameron86]

Yup I like

[makinezmoney]

$POSAF: Thats a pretty good entry


One fat green candle can easily set it off



GO $POSAF

[cameron86]

Took a few 11’s

[makinezmoney]

$POSAF: I don't even see $0.12 there...........


Only $0.50 on the ask.


This could blow up hard like $TZPC did today and no one even saw that coming.


$POSAF at $3 makes sense to me




GO $POSAF

[cameron86]

Bidding .12 let’s go

[cameron86]

Interesting..

[makinezmoney]

$POSAF: Trove Cannabis uses PosaBIT

GO $POSAF

[makinezmoney]

$POSAF: Federal Legalization of MARIJUNA is HUGE for POSABIT


Watch the VIDEO !!!!!!!!!!!!!

GO $POSAF

[makinezmoney]

$POSAF: Getting closer and closer to FULL LEGALIZATION


Thats what they've been waiting for.


Thats what they are about to get.

A handy guide as we progress to full legalization.https://t.co/tLETdohoBh

— POSaBIT (@POSaBIT) January 15, 2020

GO $POSAF

[makinezmoney]

$POSAF: We were at $0.42 Last June 2019


Litecoin, Bitcoin, and Marijuana Legalization.


Transactional volume about to EXPONENTIALLY RISE !!!!!!!!!




GO $POSAF

[makinezmoney]

$POSAF: Now at $0.15.............. Do you UNDERSTAND ???


What we have here ????????????



GO $POSAF


*****************************************************


TORONTO & SEATTLE--(BUSINESS WIRE)--POSaBIT Systems Corporation (CSE: PBIT), a leading financial technology company delivering unique payment processing and point-of-sale (POS) systems for cash-only businesses with a focus on the cannabis industry, is pleased to report its financial results for the quarter ended March 31, 2020.

During the first quarter in 2020, POSaBIT experienced increased revenues of over 5% compared to the first quarter of last year. "We are pleased to witness continued strong demand for our retail payment and POS solutions even amid the ongoing pandemic," said Ryan Hamlin, co-founder and CEO of POSaBIT. "POSaBIT is also excited to provide updated guidance that we will be cash-flow positive in Q3 2020, a change from our prior guidance of Q4 2020. Customer desire to avoid cash payments is leading to increased usage of our solutions in our current stores. At the same time, we are witnessing a significant uptick in interest from stores that have previously been cash-only operations. Sales have increased at a rapid pace and we expect to meet our prior 2020 forecast guidance of over $8M in revenue and over $135M in transactional sales.”


First Quarter 2020 Financial Summary

Transactional Sales

Transactional sales totaled $15.6 million, representing an increase of 15% compared with $13.6 million in first quarter 2019.

Revenue

Total revenue was $972 thousand, up 5% compared with $897 thousand in first quarter 2019.

Gross Profit

Gross profit was $71 thousand, up 192% compared with a gross profit of $37 thousand in first quarter 2019.

Loss

Loss before discontinued operations was $793 thousand compared with a loss of $774 thousand from the same quarter in 2019.

Financial Reports

Full details of the financial and operating results for the first quarter of 2020 are described in the company’s unaudited interim consolidated financial statements with accompanying notes. The unaudited interim consolidated financial statements and additional information about POSaBIT are available on the company’s website at www.posabit.com/investor-relations or on SEDAR at www.sedar.com.

Financial Outlook

POSaBIT provides guidance based on current market conditions and expectations. Please refer to the comments below regarding forward-looking statements.

POSaBIT updated its full year 2020 outlook to be:

Revenue to grow in the range of approximately 75% to 95% year over year
Reach profitability in third quarter 2020 (new guidance)
Transactional sales will grow over 200% to approximately USD $135 million, assuming the average store processes between USD $350,000 and USD $600,000 per year through the POSaBIT service
Cost of sales in the range of $3.5 million to $4.0 million
To expand POSaBIT’s footprint to end 2020 in 15 to 20 recreational and medical states.
Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding our business strategy, product development, timing of product development, events and courses of action. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate,” “objective,” “may,” “will,” “might,” “should,” “could,” “can,” “intend,” “expect,” “believe,” “estimate,” “predict,” “potential,” “plan,” “is designed to” or similar expressions suggesting future outcomes or the negative thereof or similar variations. Forward-looking statements may include, among other things, statements about: our expectations regarding our expenses, sales and operations; our future customer concentration; our anticipated cash needs and our estimates regarding our capital requirements and our need for additional financing; our ability to anticipate the future needs of our customers; our plans for future products and enhancements of existing products; our future growth strategy and growth rate; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which POSaBIT will operate in the future, including the demand for our products, anticipated costs and ability to achieve goals. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to, business, economic and capital market conditions; the ability to manage our operating expenses, which may adversely affect our financial condition; our ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; market conditions and the demand and pricing for our products; our relationships with our customers, distributors and business partners; our ability to successfully define, design and release new products in a timely manner that meet our customers’ needs; our ability to attract, retain and motivate qualified personnel; competition in our industry; our ability to maintain technological leadership; our ability to manage risks inherent in foreign operations; the impact of technology changes on our products and industry; our failure to develop new and innovative products; our ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect our business; our ability to manage working capital; and our dependence on key personnel. POSaBIT is an early stage company with a short operating history; it may not achieve profitability; and it may not actually achieve its plans, projections, or expectations.

Important factors that could cause actual results to differ materially from POSaBIT’s expectations include consumer sentiment towards POSaBIT’s products and blockchain/cryptocurrency exchange technology generally, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, technology failures, competition, and failure of counterparties to perform their contractual obligations.

Neither we nor any of our representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither we nor any of our representatives shall have any liability whatsoever, under contract, tort, trust or otherwise resulting from the use of the information in this news release or for omissions from the information in this news release.

About POSaBIT

POSaBIT (CSE: PBIT) is a financial technology company that delivers unique and innovative, blockchain-enabled payment processing and point-of-sale systems for cash-only businesses. POSaBIT specializes in resolving pain points for complex, high-risk, emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly and utilizes top-of-the-line hardware. POSaBIT’s unique solution provides a safer and transparent environment for merchants while creating a better overall experience for the consumer. For additional information, visit: www.posabit.com.

CONTACTS
Investor Relations:
[e-mail]

Media Relations:
Oscar Dahl
Marketing Director
855-767-2248
[e-mail]

Management:
Ryan Hamlin
Co-founder and CEO of POSaBIT
855-767-2248
[e-mail]

[makinezmoney]

$POSAF: BitCOIN over $16k..............


and POSABIT doing $135Million in Transactions ?



Man are people slow.


Why arent you getting this ?


Stupid cheap about to run to $5



GO $POSAF

[makinezmoney]

$POSAF: Cash Flow Positive now.......... $135Million in Transactions


https://www.posabit.com/news/2020/07/14/posabit-reports-q1-2020-financial-results-forecasts-q3-profitability



GO $POSAF