DENVER--(BUSINESS WIRE)--Leafbuyer Technologies, Inc. (“Leafbuyer” or “the Company”) (OTCQB:LBUY) announced today that sustained, quarterly profitability is projected in 2020 through strategic development in new markets, client base expansion, and the increased sales of technology solutions, including texting and loyalty.
“Our path to profitability and cash flow from operations has been clearly defined. We’re excited to announce that through consistent revenue growth and technological advancements, we expect Leafbuyer to be cash flow positive in the first half of 2020 and profitable on a quarterly basis by the end of 2020,” said Kurt Rossner, CEO of Leafbuyer.
The Company’s new satellite office in Los Angeles, California, exceeded sales goals a month ahead of schedule and continues to accelerate in the Southern California and West Coast markets.
Leafbuyer’s revenue continues to grow at more than double the industry average of 24%, according to an Arcview Market Research and BDS Analytics report released June 20, 2019.
“Through market expansion across the country and recent event attendance in three states, including Washington, Michigan, and Oklahoma, we’re adding thousands of people to our texting and email lists to increase the value for our clients and facilitate sales,” said Rossner. “Executing growth strategy continues to be Leafbuyer’s number one priority.”
Leafbuyer has issued approximately 30,000,000 shares of common stock since the registration statements filed with the Securities Exchange Commission became effective on July 30, 2019 and currently has approximately 78,195,000 shares of common stock outstanding.
Leafbuyer’s management team is increasing its scheduled communication with investors to ensure that more timely information is provided to the investment community.
“We look forward to communicating with investors and reporting our year-end numbers in the second half of September,” said Rossner.
About Leafbuyer Technologies, Inc.
Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside businesses to showcase their unique products and build a network of loyal patrons. Leafbuyer's national network of cannabis deals and information reaches millions of consumers every month. Leafbuyer is the official cannabis deals platform of Dope Media, Sensi Magazine, and Voice Media Group.
Learn more at Leafbuyer.com.
Cautionary Statement Regarding Forward-Looking Information
Safe Harbor Statement
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in the forward-looking statements due to several factors detailed from time to time in our filings with the Securities and Exchange Commission. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings.