Darrin Swenson, CEO and Director of PowerBand Solutions states, "Following the comprehensive strategic review of the Company’s business units, several corporate changes have been implemented. The Company has suspended operations of DrivrzLane and has moved to a maintenance mode for DrivrzXchange. The Company is allocating all growth capital and resources to its used and new vehicle leasing platform, DrivrzFinancial. We are expanding our business development initiatives to capture market share in additional highly profitable segments of the industry, namely commercial, fleet, professional corporations, EV’s and exotic vehicles. In addition, we are looking to expand our lending relationships to fund transactions in these new segments. As we have previously disclosed, the Company will not be providing lease origination forecasts due to systemic supply chain challenges in the industry. The management team believes that the Company is on a path to profitability, given the cost saving measures that have been implemented, and the focus on expanding lease originations in DrivrzFinancial."
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