C-Bond Systems, Inc.
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Report Link: Updated Research Report (Dated 09/01/2020)
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: NA
Time Horizon: 12 Months
Rating Established: November 15, 2019
Price When Established: $0.08
Most Recent Report: September 1, 2020
Price When Issued: $0.01
C-Bond Systems Reports 3Q20 Results
On November 17, 2020, C-Bond Systems, Inc. (OTC: CBNT) reported results for its third quarter ended September 30, 2020.
For the quarter, the company reported that revenue increased 47.6% to $253,000. CBNT reported net income of $480,000 or $0.00 per share versus a loss of $1.8 million or $(0.02) per share in 3Q19.
We projected 3Q20 revenue of $300,000 and a net loss of $1.4 million or $(0.01) per share.
C-Bond Receives Purchase Order for NanoShield in Excess of $100,000 From International Distributor
On November 11, 2020, C-Bond Systems, Inc. (OTC: CBNT) announced it received a purchase order in excess of $100,000 for C-Bond NanoShield™ from an international distributor. This is the first purchase order under the company’s previously announced $1.2 million supply agreement with the distributor for NanoShield™. The distributor must purchase an additional $1.1 million of product in 2021 to maintain exclusivity in 10 countries.
C-Bond Expands NanoShield Distribution Network
On November 2, 2020, C-Bond Systems, Inc. (OTC: CBNT) announced it expanded its distribution network for C-Bond NanoShield™. The company’s new distribution partner, which distributes preventative maintenance chemicals and equipment to the professional installer channel in the automotive dealer and aftermarket segments, placed an initial order in excess of $30,000 to include C-Bond NanoShield as part of its product offerings in Texas, Oklahoma and Louisiana.
C-Bond Launches Sales of its MB-10 Tablets with over $100,000 of Orders
On October 26, 2020, C-Bond Systems, Inc. (OTC: CBNT) announced it launched sales of its MB-10 tablets, an EPA registered broad spectrum disinfectant effective against a wide range of bacteria and viruses, including SARS-CoV-2, which causes COVID-19. The company’s initial sales of MB-10 Tablets exceed $100,000.
C-Bond Announces Distribution Agreement with American Guardian Warranty Services
On October 19, 2020, C-Bond Systems, Inc. (OTC: CBNT) announced a distribution agreement with American Guardian Warranty Services, Inc. (AGWS), a leading finance and insurance provider in the vehicle service contract industry. Per the terms of the agreement, AGWS, through its subsidiary EcoProProducts, will include C-Bond NanoShield™ for customers of its Appearance Protection Solutions product line – effective for both automotive and recreational vehicles.
C-Bond Announces Preliminary 3Q20 Revenue
On October 5, 2020, C-Bond Systems, Inc. (OTC: CBNT) announced preliminary 3Q20 revenue of approximately $250,000, representing 40% growth over the same year-ago period.
Management provided 4Q20 revenue guidance of $400,000, representing 115% growth over the same year-ago period. Growth is expected to be driven by initial orders from key international distributor partners, such as the company’s strategic distribution partnerships in both India and Southeast Asia.
C-Bond Pays Off All Remaining Convertible Debt
On September 14, 2020, C-Bond Systems, Inc. (OTC: CBNT) announced it paid off all of its remaining discounted convertible debt and strengthened its balance sheet.
The company repaid its last two convertible promissory notes held by a third-party lender which were convertible into the company’s common stock at a discount to the market price.
C-Bond Systems, Inc., headquartered in Houston, Texas, is engaged in the implementation of proprietary nanotechnology applications and processes to enhance the strength, functionality and sustainability of brittle material systems. The company’s primary focus is on the multi-billion-dollar glass and window film industry with target markets in the US and internationally.
Please view our current disclosure and disclaimer on our most recent research report.