RE:RE:RE:We are in the Black!! ParcelPal Technology Inc. (PKG:CSE) (FSE:PT0) (OTC:PTNYF) is pleased to announce that for the month of October 2020, it turned its first profit in the history of the Company.
CEO Rich Wheeless stated, “This is a major milestone for the Company and I believe also a turning point for us. This has also been a personal mission of mine since the day the board promoted me to CEO in April, and while no one can guarantee every month to be a profitable one, this remains a significant positive event for our Company. A combination of cost cutting measures (right sizing the business), signing more profitable contracts, moving into new industries and markets and a renewed focus on what the company does best has led to this and has additionally strengthened our balance sheet. I am extremely proud of the work the team has accomplished during this time especially given the challenging global environment we have all been faced with. I look forward to finishing up the quarter (and year) strong, and for 2021 to be an even stronger year for us.”
“Chairman of the Board Brian Storseth added, the board is extremely pleased with the continued progress that has been made and the amazing leadership shown by our CEO Rich Wheeless since being promoted to the position earlier this year. He has quickly turned around the Company by focusing on profitability, streamlining our internal processes and expanding our customer base, which is already showing up in our bottom line. We look forward to the rest of this quarter."
In addition to our Q3 report being released by month-end, we anticipate issuing a further press release to report on our November 2020 performance in December.