Personas Social Incorporated (TSX.V: PRSN) (the “Company” or “Personas”) is pleased to provide a corporate update on February 2021 sales as compared to February 2020 on Peeks Platform’ which is one of the key revenue driving platforms that Personas offers in the social media and communications markets.
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(Graphic: Business Wire)
The company is proud to announce that its gross sales for the month of February 2021 increased 64% over February 2020 and Net Income grew 35% when comparing the 29-day period of February 2020 to the 28-day period of February 2021. When normalized to a 28-day month for each period sales grew 71% in February 2021 and Net Income grew 41% compared to the same period in 2020.
Of Note, is the fact that the company has processed approximately 20,000 CAD of bitcoin since launching its Bitcoin payment system.
Of note, the Company recently changed its fiscal year-end from February 28 to December 31. Accordingly, the information presented herein relate to a comparison of the corresponding calendar periods in 2019 and prior vs. the Company’s fiscal periods for 2019 and so the figures presented will not be identical to the Company’s historical financial statements that have been filed on www.sedar.com.
Disclaimer Regarding Operational Metrics Presented
The numbers and amounts reported herein are unaudited historical operational metrics. The operational metrics disclosed are generated from internal reports and are not intended to comply with International Financial Reporting Standards (“IFRS”). The disclosure in this press release is intended to provide insight into the Company’s sales trends. The internal operational metrics disclosed herein are used by management as a tool to assess the Company’s overall sales performance and should not be deemed to be financial disclosure or otherwise construed to replace or negate the Company’s audited financials.
For the purposes of this press release, the Canadian dollar amounts were calculated at the annual average exchange rate for the year 2020 which is used herein as $1.34 CAD to $1.00 US dollar. ‘Gross Sales’ means the total sales processed by the company in a given period, ‘Net Sales’ means the Gross Sales minus payment processing fees, and ‘Net Income’ means the net fees earned by the Company for the use of its platform by streamers and viewers. The actual audited Gross Sales, Net Sales and Net Income numbers will vary from the numbers reported herein due to, but not limited to, fluctuations in foreign exchange at the time of transactions and at the time of settlement of funds to the Company and variations in payment processing fees.
Gross Sales increased 64% in February 2021 as compared to February 2020. The sales resulting from our recent promotion are only partially reflected in the last 3 days of February monthly transactions. The full sales benefit from marketing campaigns are typically realized within the first 60 days following the campaign. Management is pleased with the sales results and expects to see upward sales trends continue for the foreseeable future.
Gross Sales for February 2021 increased 64% to approximately $326,985 compared to approximately $199,155 CAD in February 2020.
Forward Looking Statements
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect”, “plan”, “intend”, “anticipates”, “projects”, “potential” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements are statements that are not historical facts. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.