Education company building online and hands on combined full-service training as well as career advancement, ProBility Media Corp (OTCMKTS:PBYA), announced on July 26, 2021 securing a contract with Ford Motor Co for its Livonia Michigan plant, which produces diverse transmission and service components.
The firm’s subsidiary NACB will do crane operator training, overhead crane inspector training and overhead hoist maintenance training for the automotive company. Probility also announced its financial results for last two fiscal years.
The firm did restructuring to remove non-performing divisions as well as surplus corporate overheads. The firm settled or retired a little over $8.1 million in debt, lowering debt by over 56%.
For fiscal year ending May 31, 2020, the firm had an operating profit of $321,549 vis-a-vis loss of over $12.9 million through April of 2018 and $6.5 million in three months between February and April 2018.
Through reduction in overheads, the firm sustained covid-19 period of lower revenues for its two subsidiaries North American Crane Bureau and Disco Learning Media. The company commenced aggressive move from physical classes to virtual classes. Its focus on digital initiatives is enabling ProBilityfor expanding to over 15 states in the United States.
NACB is a leading crane, hoist and safety training provider in the country and the demand for its services have augmented.
Dana Jackson, Vice President of Sales and Marketing for North American Crane Bureau Group, said that the company’s clients laud the NACB brand and the firm is just at a nascent stage of significant relationships with large Fortune 500 corporations. Jackson added that it is receiving inquiries from international partners in Europe and South America.
Market Reaction:
As of 12:58, PBYA stock soared 67% at $0.0100 with more than 983.05 million shares, compared to its average volume of 157.68 million shares. The stock has moved within a range of $ 0.0070 – 0.0102 after opening the trade at $0.0080. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0102.
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