AmeriTrust Financial Technologies Inc V.AMT

Alternate Symbol(s): PWWBF

AmeriTrust Financial Technologies Inc., formerly PowerBand Solutions Inc., is a Canada-based financial technology (fintech) provider in the automotive industry. Its integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, and funders. The Company has commercialized a Fintech automotive-based software platform that specializes in auto leasing and is the operator of Drivrz Financial, a financing marketplace enabling lenders and consumers to finance vehicles in the United States. Drivrz Financial platform offers a leasing alternative for used vehicles through its technology and lease structure. The Company’s transaction platform is being made available across the United States of America. The business units operated by the Company is Drivrz Financial Holdings LLC (DrivrzFinancial), D2D Auto Auction LLC (DrivrzXchange), and IntellaCar Solutions LLC (DrivrzLane).

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AmeriTrust Financial Technologies Inc > Misleading news releases

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Post by lscfaon Mar 14, 2021 9:45pm

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Misleading news releases

Co. is reporting gross sales transactions and then stating gross margins are 60%. Readers are erroneously assuming the 60% applies to the gross sales figure when in fact the 60% applies to the sales commission earned on the gross sales figure and the sales commission is a small percentage of the gross sales figure. When financials are posted investors will be in for a negative surprise.

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