Findit, Inc. Provides First Quarter Recap and Projects First Quarter Profit
Findit, Inc., a Nevada Corporation (OTC PINK:FDIT) and owner of Findit.com, a social networking platform that provides online marketing services, is providing a recap of the company business since year end 2020.
Projected Earnings for the First Quarter Findit is projecting a profitable first quarter to 2021. The company is completing it financials and will be filing its first quarter financials on OTC Markets prior to the required filing period to remain current. The company continues to look at options to reduce costs where it makes sense, while also increasing revenue in areas that are profitable.
Exiting the CBD B2B Space The company, which was in the CBD space in 2020 selling mainly B2B to TJ MAXX and Marshalls, was able to liquidate through barter most of its remaining inventory. The barter exchange is not recognized as revenue and will not be recognized until barter dollars are used and will be expensed simultaneously. The barter dollars received for the inventory that was written down to zero are $379,500.00. Findit is open to selling barter dollars for cash. Findit still offers CBD products through its online store, Urban CBD Collective™, which is hosted on Shopify.
Findit launched its latest version of the Findit App. The app is available in IOS and Android. We are continuing to make updates to provide users with a more fluid experience when creating and posting status updates that they are able to share from the app to their other social networking accounts. The other sites that users can share to are Facebook, Twitter, LinkedIn, Pinterest, and Parler, along with others that support sharing through DM, texting and email.
Users on the Findit App can DM to Instagram and text and email their friends and followers. In addition to users being able to share the posts they create, a visitor to a post on Findit can also share someone's post as well. This can be done by a visitor whether they are signed in or not, making it easier to spread posts to various platforms to have your message seen and heard by more followers and friends. A recent update on the Android version is AdMob by Google, which provides ads to display in the Findit App feed. These ads offer a revenue stream within the app that previously did not exist. AdMob is live in the Android version of the app. We are currently working on the IOS version to run AdMob there as well. The app is available in both Google and Apple App stores for download.
Findit, Inc. holdings in ClassWorx™, Inc. Findit, Inc. was retained in a related party transaction at the end of 2020 to build out the ClassWorx.com website. Findit received one million shares of restricted common stock in Chill N Out Cryotherapy, Inc. (OTC PINK:CHNO), which filed a name change with FINRA to ClassWorx, Inc., in the first quarter of 2021. The common shares are restricted for a one-year period which runs to November of 2021. ClassWorx, Inc. retained B.F Borgers as their Auditor and the Law Firm of Thomas C. Cook to complete its audit and file a Form S1 registration statement with the S.E.C. The shares have traded in the past twelve months between 0.0002 - 0.7600 click here for current quote. The board of directors of Findit, Inc. and ClassWorx, Inc. are the same, Raymond Firth and Thomas Powers. The companies have reported in filings that this is a related party transaction. ClassWorx is a directory for hosts of virtual events through Zoom and provides hosts a way to receive receive payments from attendees through Stripe.
Findit Form S1 Filed Findit, Inc. filed its Form S1 in 2021. The S.E.C. has issued its first comment letter. It is possible that additional comment letters could be received after Findit submits its response. The company, along with its counsel and accountant, has prepared its response and will be filing its response to the S.E.C. The Form S1 is a registration statement that, when approved, will provide Findit the opportunity to raise up to $3,000,000.00, the current offering price in the filing is at .30 cents per share. The current price of Findit is lower than the offering price in the Form S1.
Raymond Firth President stated: "We are focused on the Findit brand and bringing awareness to our technology, products and services. Our objective is to increase our market share by increasing the number of users on Findit and increasing our premium, fee-based online marketing services. We are in the extremely competitive social networking space that includes brands that are much more recognized than Findit. These brands include Facebook, Instagram, Twitter and Snapchat. With completed updates, and further improvements to the Findit app in development, we are optimistic that we can increase our membership. I'm looking forward to the potential growth of Classworx directory for people who host events virtually through Zoom and the value that can bring to Findit and our shareholders."
About ClassWorx Chill N Out Cryotherapy, Inc. (OTC PINK:CHNO), a Delaware Corporation, owns and operates ClassWorx.com. Chill N Out Cryotherapy, Inc. currently trades on the OTC Pinks under the stock symbol CHNO. Classworx provides an internet-based, global network-directory of people offering virtual classes and events utilizing video conferencing to remotely deliver individual or group instruction in a broad range of disciplines ("virtual classes"). The Company is based in the Atlanta, Georgia area and spans a global outreach through the worldwide web.
About Findit Findit.com 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 increase in brand awareness of our members. Findit, Inc. trades under the stock symbol FDIT on the OTC Pinksheets.
Safe Harbor: 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.