HOUSTON, Jan. 05, 2021 (GLOBE NEWSWIRE) -- C-Bond Systems (the “Company” or “C-Bond”) (OTC: CBNT), a nanotechnology solutions company, today preannounced record revenue in excess of $400,000 for the fourth quarter of 2020, and record annual revenue for 2020. The revenue will exceed 2019 by at least 25%, with growth trends accelerating during the last two quarters, a trend the Company anticipates continuing.
In early 2020 as the COVID-19 pandemic began to unfold, management made the strategic decision to pivot its business, thereby positioning itself for partnership opportunities to sell a broader range of nano-products, including disinfectants.
In the fourth quarter of 2020, the Company received two $100,000 purchase orders under previously announced distribution agreements for its EPA registered MB-10 Tablets and C-Bond nanoShield windshield strengthener, as well as orders for its C-Bond Secure glass strengthening primer and window film mounting solution, and C-Bond BRS (ballistic-resistant system) product for building security.
“On the heels of announcing that we generated record revenue of more than $250,000 for Q3 2020, we are proud to preannounce record revenue of more than $400,000 for Q4 2020,” stated Scott R. Silverman, Chairman and CEO of C-Bond.
“While the first and second quarters of 2020 were extremely challenging due to the evolving COVID-19 global pandemic, the pivot we made in our business combined with significant new customer relationships helped drive revenue growth across both our Transportation Solutions Group and Safety Solutions Group in the latter half of the year,” continued Silverman. “We expect these agreements to continue to propel revenue growth throughout 2021.”
About C-Bond
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 directly to private enterprises, schools, hospitals and government agencies. The Company also sells disinfection products, including MB-10 Tablets. For more information, please visit our website: www.cbondsystems.com, Facebook: https://www.facebook.com/cbondsys/ and Twitter: https://twitter.com/CBond_Systems.
Forward-Looking Statements
Statements in this press release about our future expectations, including the likelihood that revenue growth trends will continue; the likelihood that these customer agreements will continue to propel revenue growth throughout 2021; 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 Company’s ability to source materials; 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 November 16, 2020, August 14, 2020, and May 15, 2020, 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.