ProBility Media Corp. is an industrial education and training technology company headquartered in Houston, Texas, offering immersive technologies, digital learning and compliance solutions for a wide variety of industrial trades.
Average volume for PBYA is 1.9 million shares per day. Today’s press release caused the shares to spike over 15 million shares in the first hour of trading.
ProBility Media Corp. Press Release:
HOUSTON, Sept. 14, 2018 (GLOBE NEWSWIRE) — via NetworkWire – ProBility Media Corp. (PBYA), a technology company offering immersive technologies, digital learning and compliance solutions for the industrial education and training markets, today announced that it has completed the first phase of its planned expansion of its Amazon fulfillment efforts to improve economic efficiency.
During July 2018 the Company initiated and completed a thorough evaluation of the operating results of its numerous divisions and web sites and began consolidating businesses and moving order fulfillment activities to Amazon. This process was completed in August 2018. As a result, revenue from our Amazon efforts increased by $40,763, or 85%, from $48,175 in June 2018, just prior to these changes, to $88,938 in August 2018.
“ProBility has been executing a disruptive strategy of defragmenting the vocational education and training market place and has experienced consistent sequential growth over the last seven quarters. The Company reported $8,913,956 of revenue for fiscal year 2017 versus $3,089,974 for fiscal year 2016,” stated Evan Levine, CEO of ProBility Media. “ProBility is committed to continue to grow our revenue streams while concurrently strengthening our bottom line and becoming a more efficient operation. These steps will enable us to use our sales and marketing expertise to accelerate revenue growth while decreasing costs. However, we do anticipate a reduction in short term revenue during the transition period. The Company will be announcing results for the second quarter 2018 in the coming weeks.”
Over the past six months the Company has been conducting an internal review of the various properties and companies that have been acquired since going public in November 2016. Underperforming web sites and locations have been closed or scaled back, including the Company’s flagship retail location in Houston, Texas, which is in the process of being relocated to our Florida locations. The retail operations have been unprofitable for some time due to declining gross margins and the cost of managing our own fulfillment operations. As a result, ProBility is focusing its sales efforts on the company’s own published materials and is deemphasizing third party compliance solutions, such as codes and standards and printed training and reference materials that carry lower margins and higher handling costs. The inventory from the retail location has now been moved to Amazon and fulfillment and order entry positions have been eliminated. The company expects these steps to save over $500,000 per year on a calendar basis.
About ProBility Media Corp.
ProBility Media Corp. is an industrial education and training technology company headquartered in Houston, Texas, offering immersive technologies, digital learning and compliance solutions for a wide variety of industrial trades. ProBility is executing a disruptive strategy of defragmenting the education and training market place by offering high quality training courses and materials utilizing mixed reality and digital animation to prepare the workforce for excellence. ProBility services customers from the individual to the small business to the enterprise level corporation.
For more information, visit www.ProBilityMedia.com
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.
ProBility Media Corp.
Chairman and Chief Executive Officer
President and Chief Operating Officer