C-Bond Systems Inc (CBNT)

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C-Bond Systems Preannounces Record Revenue for Q4 2020, Up 60% Sequentially and Over 115% Year Over Year, and Record Annual Revenue for 2020

After achieving record revenue for Q3 2020, the Company has also achieved record revenues and growth rates for Q4 2020

January 05, 2021 08:30 ET | Source: C-Bond Systems

HOUSTON, Jan. 05, 2021 (GLOBE NEWSWIRE) -- C-Bond Systems (the “Company” or “C-Bond”) (OTC: CBNT), a nanotechnology solutions company, today preannounced record revenue in excess of $400,000 for the fourth quarter of 2020, and record annual revenue for 2020. The revenue will exceed 2019 by at least 25%, with growth trends accelerating during the last two quarters, a trend the Company anticipates continuing.

In early 2020 as the COVID-19 pandemic began to unfold, management made the strategic decision to pivot its business, thereby positioning itself for partnership opportunities to sell a broader range of nano-products, including disinfectants.

In the fourth quarter of 2020, the Company received two $100,000 purchase orders under previously announced distribution agreements for its EPA registered MB-10 Tablets and C-Bond nanoShield windshield strengthener, as well as orders for its C-Bond Secure glass strengthening primer and window film mounting solution, and C-Bond BRS (ballistic-resistant system) product for building security.

“On the heels of announcing that we generated record revenue of more than $250,000 for Q3 2020, we are proud to preannounce record revenue of more than $400,000 for Q4 2020,” stated Scott R. Silverman, Chairman and CEO of C-Bond.

“While the first and second quarters of 2020 were extremely challenging due to the evolving COVID-19 global pandemic, the pivot we made in our business combined with significant new customer relationships helped drive revenue growth across both our Transportation Solutions Group and Safety Solutions Group in the latter half of the year,” continued Silverman. “We expect these agreements to continue to propel revenue growth throughout 2021.”