C-Bond Systems Reports Record Monthly Revenue of $128,000 in July
July Revenue Growth Driven by Robust Nanoproduct Portfolio; Management Expects Continued Revenue Growth throughout 2020
HOUSTON, Aug. 03, 2020 (GLOBE NEWSWIRE) -- C-Bond Systems (the “Company” or “C-Bond”) (OTC: CBNT), a nanotechnology solutions company, announced today that it has reported record monthly revenue of more than $128,000 in July driven by robust sales of the Company’s nanoproducts.
Unaudited revenue generated in July was primarily a result of robust sales of C-Bond NanoShield™, the Company’s patented windshield strengthener, and an order for MB-10 Tablets from an overseas distributor.
In the first quarter of 2020, C-Bond Systems delineated its business model into the Transportation Solutions Group and Safety Solutions Group in order to expand and better position its business for strategic partnership opportunities. C-Bond Transportation Solutions includes the C-Bond NanoShield™ product line and C-Bond Safety Solutions includes C-Bond BRS (ballistic-resistant system).
Following the establishment of the two divisions, through various national and international distribution agreements with strategic partners, the Company has added new branded nanoproducts to its portfolio ranging from automotive paint sealants to surface protectors. Other new products include FN® NANO, a photocatalytic coating used in hospitals, schools, and other facilities to reduce the spread of airborne toxins and allergens; and most recently, MB-10 Tablets, an EPA registered, broad spectrum disinfectant effective against a wide range of bacteria and viruses, including SARS-CoV-2, which causes COVID-19.
“Earlier this year when the COVID-19 pandemic was initially taking hold across the world, we made the decision to broaden our focus from our core businesses of transportation and safety solutions to add complementary nanoproducts to better address the urgent needs our customers faced,” said Scott R. Silverman, Chairman and Chief Executive Officer of C-Bond Systems. “Based on our current visibility and sales pipeline, we believe this decision to evolve our business to attract a wider customer base and anticipate industry trends has been a success. As a result, we expect continued sales growth for the remainder of 2020.”
C-Bond Systems, Inc. (OTC: CBNT) is a Houston-based advanced nanotechnology company and marketer of the patented C-Bond technology, developed in conjunction with Rice University and independently proven to significantly strengthen glass in key automotive and structural applications. The Company’s Transportation Solutions Group sells C-Bond NanoShield®, a liquid solution applied directly to automotive windshields, sold through distributors. The Company’s Safety Solutions Group sells ballistic-resistant glass solutions and FN NANO Coating directly to private enterprises, schools, hospitals and government agencies. For more information, please visit our website: www.cbondsystems.com, Facebook: https://www.facebook.com/cbondsys/ and Twitter: https://twitter.com/CBond_Systems.
Statements in this press release about our future expectations, including the likelihood that management expects continued revenue growth throughout 2020; the likelihood that based on our current visibility and sales pipeline, we believe this decision to evolve our business to attract a wider customer base and anticipate industry trends has been a success; the likelihood that as a result, we expect continued sales growth for the remainder of 2020; 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 that term is defined in the Private Litigation Reform Act of 1995. Such 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, without limitation, C-Bond’s ability to raise capital; the Company’s ability to successfully commercialize its products; the effect of the COVID-19 global pandemic on the Company’s ability to operate; the timing and recognition of revenue; as well as other risks. Additional information about these and other factors may be described in the Company’s filings with the Securities and Exchange Commission (“SEC”) including its Form 10-K filed on March 25, 2020, its Forms 10-Q filed on May 15, 2020, November 14, 2019, and August 12, 2019, and in future filings with the SEC. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
6035 South Loop East
Houston, TX 77033
Released August 3, 2020