TORONTO, ONTARIO, Feb 2nd, 2021– Personas Social Incorporated (TSX.V: PRSN) (the “Company” or “Personas”) is pleased to provide a corporate update on January 2021 sales as compared to January 2020 on Peeks Platform’ which is one of the key revenue driving platforms that Personas offers in the social media and communications markets.
The company is proud to announce that its gross sales for the month of January 2021 increased 96% over January 2020 and Net Income grew 79% over the same period.
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.
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 96% in January 2021 as compared to January 2020. December and January are typically the slowest months for sales. Management is particularly pleased with the sales results in that, both the Gross sales increased, and the sales growth rate also increased over last year’s average of 63%. Management expects to see upward sales trends continue for the foreseeable future.
Gross Sales for January 2021 increased 96% to approximately $317,465 compared to approximately $161,761 CAD in January 2020.
The Company has been pleased with its performance so far in 2021. User feedback has been overwhelmingly positive. In so far as user fees and payout cycles are concerned, the Company is now offering its users a superior service to industry leaders such as Only Fans. Management continues to see sales trends improve and is planning on more aggressively promoting the service in 2021.
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.