PROPELLUS REPORTS FISCAL 2022 RESULTS

NEW YORK, Aug. 22, 2022 /PRNewswire/ -- Propellus Inc., an Oklahoma corporation, (OTC PINK: PRPS), an alternative finance company that specializes in assisting small businesses with their cash flow needs, filed its Unaudited Consolidated Financial Statements for the period of April 1, 2021 to March 31, 2022. For the year ended March 31, 2022 the Company had revenues of $1,627,927 as compared to $237,247 in the corresponding period an increase of approximately 700%. Operating Expenses were reduced by nearly 50% to $4,033,700 from $8,060,378.  Net loss was $2,405,773 or $(0.27) per share as compared to $(0.89) per share.

"We are excited by the progress that we have made over the past year, as we transitioned from a private company to a public entity," stated Ralph Johnson, CEO. "The vast majority of our losses over the previous two years were as a result of non-cash items, and we believe that we have those behind us, and Propellus is positioned to be profitable in the coming fiscal year."

Propellus Inc., is engaged in offering small businesses a variety of financing alternatives ranging in amounts between $20,000-$500,000. Such financings include: payroll advances directly and through third-party professional employer organizations, merchant cash advances, accounts receivable factoring, short-term line of credit loans, and other types of loan products and cash flow financing.

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SOURCE Propellus Inc.