PBX Shareholders are in for a big negative surprise.
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.
AAtrager wrote:
https://powerbandsolutions.com/powerband-solutions/powerband-announces-5-3-million-private-placement-financing/
"The Company intends to the use the net proceeds from the Private Placement to support its continual development, growth, market expansion and for general working capital purposes. Up to 18,275,862 units will be placed (the “Units“), at a price of $0.29 per Unit, with the objective of raising up to $5,300,000."
Powerband Solutions SP traded from 62-70c the trading day prior to this announcement. On Friday it closed at 1.38. Is This a Friends and Family deal too?