Findit, Inc. (OTC PINK:FDIT) reported a revenue increase in the third quarter over the same period one year ago of 178 %. With revenues of $162,591.00 versus $58,468.00, Findit, Inc. posted earnings for the 3rd quarter ending September 30, 2019 of $24,995.00 an increase of the same period last year of 532%.
While the 3rd quarter has been a combination of revenue streams from their full-service social networking content management platform Findit.com it also added revenue from its first quarter of entering into the B2B CBD Topical space. With Findit's focus on B2B sales to major retailers and distributors Findit has kept its cost down by not having traditional advertising and marketing expenses along with other fixed costs many other CBD related business models have. By eliminating these expenses, Findit has been able to operate with lower price points with margins that can still be profitable.
Findit recently announced it has retained the law firm of Thomas Cook to draft and file its S1 Registration form. Findit has identified the Auditors as well and is awaiting their engagement letter.
Findit, Inc. is focused on building credibility with investors with its upcoming filing of its S1 Registration statement and focusing on continued growth both from revenue and earnings, as well as an increase in online members using Findit.com and the Findit App.
"By becoming fully reporting in 2020 we are hopeful that it will open the eyes of some on Wall Street that otherwise would not follow us." stated Raymond Firth
Revenue rose 178% to $162,591.00 , in the third quarter from $58,468.00 a year earlier.
Earnings were up 532% to $24,995, in the third quarter from ($5,789) loss a year earlier.
About Findit, Inc.
Findit, Inc., owns Findit.com which is a Social Media Content Management Platform that provides an interactive search engine for all content posted in Findit to appear in Findit search. The site is an open platform that provides access to Google, Yahoo, Bing and other search engines access to its content posted to Findit so it can be indexed in these search engines as well. Findit provides Members the ability to post, share and manage their content. Once they have posted in Findit, we ensure the content gets indexed in Findit Search results. Findit provides an option for anyone to submit URLs that they want indexed in Findit search result, along with posting status updates through Findit Right Now. Status Updates posted in Findit can be crawled by outside search engines which can result in additional organic indexing. All posts on Findit can be shared to other social and bookmarking sites by members and non-members. Findit provides Real Estate Agents the ability to create their own Findit Site where they can pull in their listing and others through their IDX account. Findit, Inc., is focused on the development of monetized Internet-based web products that can provide an increased brand awareness of our members. Findit Inc., trades under the stock symbol FDIT on the OTC Pinksheets.
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word believe or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Findit Inc. to differ materially from those implied or expressed by such forward-looking statements. This press release speaks as of the date first set forth above, and Findit Inc. assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.
Clark St. Amant