ProBility Media Corp. Announces Intention to Become Current and Provides Company Update

Rhea-AI Summary

ProBility Media Corp. (PBYA) aims to become compliant with filing obligations under Securities Exchange Act Rule 15c-211 by September 28, 2021. The company plans to submit its Annual Disclosure Report for 2020 and 2021, alongside any required Quarterly Disclosure Reports. Last reported in February 2019, ProBility has focused on addressing outstanding debt and operational losses by eliminating nonperforming divisions and reducing overhead. The company seeks to transition towards a cash flow positive revenue model.

Positive

• Plans to file Annual Disclosure Reports for 2020 and 2021, enhancing transparency.
• Efforts to settle outstanding debt and reduce operational losses.
• Focus on becoming cash flow positive through strategic restructuring.

Negative

• Last reported significant challenges in February 2019, including debt and operational losses.
• No updates provided since February 2019 until this announcement, indicating potential communication issues.

News Market Reaction – PBYA

+16.67%

1 alert

+16.67% News Effect

On the day this news was published, PBYA gained 16.67%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

POMPANO BEACH, FL / ACCESSWIRE / June 16, 2021 / ProBility Media Corp. (OTC PINK:PBYA) today announces that it is making efforts to become current with its filing obligations pursuant to Securities Exchange Act Rule 15c-211 and OTC Markets Group Inc. Reporting Guidelines prior to Sept. 28, 2021.

The Company specifically plans to file with the OTC Markets its Annual Disclosure Report for the years ended 2020 and 2021 as well as any Quarterly Disclosure Reports as they become due. The Company's fiscal year end is May 31.

Going forward, the Company plans to file all reports required of it in order to remain current in its reporting obligations under federal securities law. The Company's disclosure reports can be found on the OTC Markets website under the symbol "PBYA".

The Company last reported to shareholders in February 2019. That report indicated the significant challenges that lay ahead for the Company, which included addressing the Company's outstanding debt and operating losses.

Since that time, the Company has been working to settle its debts, eliminate nonperforming divisions, reduce its overhead and steer the Company in a direction that management believes will result in a cash flow positive revenue position.

About ProBility Media Corp.

ProBility Media Corp. is an education company building the first full-service training and career advancement brand for the skilled trades. Through its divisions One Exam Prep, LLC, North American Crane Bureau Group Inc. and Disco Learning Media Inc., ProBility is aiming to become the first nationwide company addressing test prep, training and education for vocational trades.

For more information, visit http://www.ProBilityMedia.com.

Forward-Looking Statements

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.

Company Contact:
info@probilitymedia.com

SOURCE: ProBility Media Corp.

View source version on accesswire.com:
https://www.accesswire.com/651923/ProBility-Media-Corp-Announces-Intention-to-Become-Current-and-Provides-Company-Update

FAQ

What is ProBility Media Corp.'s filing deadline for compliance?

ProBility Media Corp. aims to become compliant by September 28, 2021.

What financial reports is ProBility Media Corp. planning to file?

The company plans to file its Annual Disclosure Reports for the years ended 2020 and 2021.

When was the last time ProBility Media Corp. reported to its shareholders?

The last report was in February 2019.

What steps has ProBility Media Corp. taken to improve its financial situation?

They are working to settle debts, eliminate nonperforming divisions, and reduce overhead to achieve positive cash flow.