C-Bond to hold investor call on Wednesday, November 17 at 4:15 p.m. ET to discuss its third quarter results
HOUSTON, November 16, 2021 (GLOBE NEWSWIRE) – C-Bond Systems (the “Company” or “C-Bond”) (OTC: CBNT), a nanotechnology solutions company, today announced that it has filed its Form 10-Q for the quarter ended September 30, 2021 and announced financial results including record quarterly sales of $ 674,000. Company Form 10-Q can be found here on its website.
Third Quarter 2021 Financial and Operational Highlights
Third quarter 2021 sales totaled $ 674,518, compared to $ 252,940 for the third quarter of 2020, an increase of $ 421,578, or 167%.
Gross margin for the third quarter of 2021 totaled $ 425,911, or 63.3% of sales, compared to $ 187,302 for the third quarter of 2020, or 74.0% of sales.
Operating expenses for Q3 2021 were $ 886,788 compared to $ 852,760 for Q3 2020, an increase of $ 34,028.
The operating loss for Q3 2021 is $ 460,877 compared to $ 665,458 for Q3 2020, a decrease of 204,581.
In July 2021, C-Bond acquired 80% of A1 Glass Coating, its leading distributor and installer of C-Bond products, and A1 Glass owner-operator Michael Wanke joined C-Bond as chairman of its Patriot Glass Solutions division, formed to protect personal and business property across the United States from looting, riots, break-ins and gunfire.
Patriot Glass Solutions has received a purchase order for $ 220,000 for the installation of a specialty window defense film for a government client.
Patriot Glass Solutions received a purchase order for $ 384,000 to reline several buildings at a San Antonio technology campus with solar control film.
Patriot Glass Solutions received two purchase orders totaling approximately $ 100,000 for specialty safety and security films.
Patriot Glass Solutions received a purchase order from a Texas hospital for $ 136,000.
Patriot Glass Solutions has added three new distributors, located in select markets in Colorado, California, Michigan, Texas, Utah, Kansas, and Missouri, to its network of security and anti-glass film suppliers. -balistics.
Patriot Glass Solutions received a purchase order for $ 95,000 to install a bird strike film at a community college in Texas.
C-Bond continued its joint development initiatives with the Energy Safety Research Institute at Swansea University to improve certain properties of C-Bond glass reinforcement products, in particular C-Bond nanoShield ™, and develop a “self-healing glass” for the automotive sector through the creation of a new nano-liquid chemical solution that repairs visible splinters and cracks in the windshield to reduce replacements and simplify repairs.
Conference call details
On November 17, 2021, C-Bond Systems will host a conference call at 4:15 p.m. ET to discuss its financial results for the third quarter of 2021. To listen to the call live, please dial 530-881-1212 and use the Conference ID 615-253-385 #.
“We are extremely proud of our revenue growth in the third quarter, which is significantly higher than the third quarter of last year and represents a record for C-Bond,” said Scott R. Silverman, President and CEO of the management of the company. “Alied with the acquisition of A1 Glass Coating and the creation of Patriot Glass Solutions, we believe this growth can continue over the next few quarters and through 2022 and beyond. We continue to seek opportunities for nanoShield and MB-10 tablets in the automotive and transportation industries including, but not limited to, warranty companies, commercial fleets, service companies, car rental companies, etc.
Patriot Glass Solutions protects personal, business and government property from looting, riots, break-ins and gunfire. Its flagship products are C-Bond BRS, a bullet resistant film system, and Secure C-Bond, a versatile glass reinforcing primer and window film mounting solution that deters forced entry. Patriot Glass also offers other types of specialty window films, including solar or “green” films, spyware films, graffiti control films, bird films, decorative films, and more.
C-Bond Systems, Inc. (OTC: CBNT) is a Houston-based nanotechnology company and a distributor of the patented and patent-pending C-Bond technology, which has been independently proven to strengthen glass in automotive and structural applications. The Company’s transportation solutions group sells C-Bond nanoShield, a liquid solution applied directly to automotive windshields, primarily through distributors. The Company’s Patriot Glass Solutions sells anti-ballistic glass solutions and forced entry deterrent solutions directly to private businesses, schools and government agencies, primarily through its majority-owned subsidiary, A1 Glass. Coating. The company also sells MB-10 tablets, a disinfection product on the EPA’s N list. For more information, please visit our website: www.cbondsystems.com, Facebook: https://www.facebook.com/cbondsys/ and Twitter: https://twitter.com/CBondSys.
Statements in this press release regarding our future expectations, including the likelihood that, fueled by the acquisition of A1 Glass Coating and the creation of Patriot Glass Solutions, we believe that this growth may continue in the coming quarters and throughout 2022 and beyond; the likelihood that we will continue to seek opportunities for nanoShield and MB-10 tablets in the automotive and transportation industries including, but not limited to, warranty companies, commercial fleets, services, car rental companies, and more; constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as such term is defined in the Private Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. These risks and uncertainties include, but are not limited to, the Company’s ability to successfully market its products; the effect of the global COVID-19 pandemic on the ability of the Company and its customers to operate; the ability of the Company and its customers to source materials; the Company’s ability to raise capital; as well as other risks. Additional information on these and other factors may be described in documents filed by the Company with the Securities and Exchange Commission (“SEC”), including its Form 10-K filed on April 14, 2021, its Forms 10- Q filed on November 15, 2021, August 16, 2021, and May 14, 2021, and in future SEC filings. The Company does not undertake to update or publish revisions of these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unforeseen events, except as required by law. .
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Houston, Texas 77033
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