PCS Edventures.com Inc (PCSV)

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PCS Edventures! Provides Operational Update for the Second Quarter of FY 2019Press Release | 08/30/2018

BOISE, Idaho, Aug. 30, 2018 (GLOBE NEWSWIRE) -- PCS Edventures!.com, Inc., (PCSV) a leading provider of K-12 Science, Technology, Engineering and Mathematics (STEM) education programs and drone products, today provided an operational update for its second quarter of Fiscal Year 2019.

Revenue for Fiscal Year 2019 second quarter-to-date (through August 24, 2018) has exceeded $850,000, which is a 51% increase in revenue reported for the same quarter last fiscal year. July sales more than doubled for FY19 versus FY18.

Another production run of the Company’s flagship education drone, the RubiQ, is well underway. While PCS continues to oversee the manufacturing of the drone, the Company is in the final stages of negotiating the outsourcing of RubiQ production. Outsourcing production will free up human resources and provide additional efficiencies as the Company prepares for significantly increased sales volumes.

PCS has initiated the process to file its financial statements and company updates on the OTC Markets website, found at https://www.otcmarkets.com/. The Company has uploaded annual and quarterly reports to the site and updated Company-related information. The Company is investing resources in these actions to better accommodate investors and provide a method through which they can access user-friendly communication about PCS Edventures, thus ultimately enhancing the liquidity of the Company’s stock.

In July, the Company purchased 1 million shares of restricted stock from an investor for 2.5 cents per share. The Company is in the process of retiring the shares to reduce the outstanding share count.

Mike Bledsoe, President, commented, “We continue to gain momentum on RubiQ sales and are already preparing for greater volume. Our recent purchase of our stock is an indication of management’s confidence about the Company’s future and its dedication to shareholders.”

Todd Hackett, CEO, said, “Given our desire to properly communicate our progress to investors, we are providing our financial disclosures and information on the OTC Markets site. This is an important first step in improving our stock’s visibility and liquidity.”