Philadelphia, PA, Jan. 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- PENNEXX (PNNX) has received sufficient revenue to support all of its first quarter expenses and leave a remaining profit. The revenue is primarily from the multi-million dollar bundling deal that it entered into in the fourth quarter of 2020 with an OEM device manufacturer for its https://YourSocialOffers.com (YSO) platform.
This revenue is expected to support the company's budgetary expenses fully. It includes future payments calculated that could keep the company profitable throughout 2021 and into 2022.
The company's management points out that it expects in addition to this initial bundling revenue deal, the contract's execution will create additional revenues through Pennexx's other revenue models, including direct sales, subscriptions, revenue sharing, and marketing proceeds.
This additional income could exceed the agreements 'multi-million dollar' bundling revenue.
This is the first of a number of deals that the company is working to achieve. Each sale increases the company's ability to grow more rapidly and efficiently.
Vincent Risalvato, CEO of Pennexx, points out, "Our revenue growth is significantly outpacing my initial revenue projections."
The company's strategy is to become a billion-dollar marketing conglomerate that helps merchants, manufacturers, and services find new customers while simultaneously saving consumers money.
Your Social Offers is a product that certainly appeals to businesses and consumers alike.
Joe Candito, President of Pennexx, said, "Our vision has come to fruition, and we are proud to be profitable. However, we don't want to only be profitable; we want to deliver in a big way, increasing shareholders’ value and becoming a household name."
For More Information
Pennexx will do their best to openly and publicly answer your questions and concerns via social media on Twitter https://twitter.com/pennexx @pennexx, or you may email investors@pennexx.net.
You may also follow them on Twitter; Joe Candito (@jcandito) https://twitter.com/jcandito, Ms. Sunny Sweet (@sunnysweettweet) https://twitter.com/sunnysweettweet and Mr. Risalvato (@vrisalvato) https://twitter.com/vrisalvato.
About Pennexx Foods Inc.
About Pennexx Foods Inc. (PNNX: OTCMKTS US). Pennexx, through its wholly-owned subsidiaries, is a holding company within the Software/Internet Industry focused on social media, prepaid debit cards, BitGift™, artificial intelligence, targeted marketing, and consumer rewards.
Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
For additional information, you may also visit our website at https://yoursocialoffers.com or https://pennexx.net or call 866-928-6409. Please follow us on Twitter @Pennexx.