Key updates regarding funding solution, corporate audit and potential acquisition
PHOENIX, AZ / ACCESSWIRE / January 12, 2022 / Business Warrior Corp. (OTC PINK:BZWR), the source for small businesses in America to get more customers, announces the addition of $3 million to the balance sheet along with several other key updates showing a strong start to 2022.
The company also announces status updates to several key topics, including:
- An update on the company's audit to become fully reporting
- The official launch date of the Business Warrior Funding platform
- The company in due diligence for an acquisition
The recently announced $5 million agreement with EVRGRN has been reworked to allow $3 million to be collected up-front by Business Warrior and the remaining $2M to be held back for additional growth opportunities. This is a win-win for both companies. The $3 million has been received by BZWR, which further strengthens the company's balance sheet while giving EVRGRN the flexibility to pursue additional opportunities to add to the overall project together.
"Renegotiating this agreement is a huge growth accelerator for us as a corporation," explains Business Warrior CEO Rhett Doolittle. "It also provides instant marketing and sales support to bolster the development and growth of our next-generation lending solution, Business Warrior Funding."
Business Warrior Funding Launch
The launch date of Business Warrior Funding is scheduled to go live to the public on February 1, 2022.
"The funding solution is currently in beta as we continue to develop and test this trailblazing product for small businesses," said Doolittle. "We have adjusted our timeline to ensure we deliver a high-quality, robust customer experience."
Update on Financial Audit
The completion of Business Warrior's two-year audit remains in-progress for fiscal years ending in August 31, 2021, and August 31, 2020.
"We understand that this delay is frustrating for our stakeholders and shareholders," explains Dolittle. "It is taking longer than expected as we implement new processes to become a fully reporting entity and make our financial systems scalable with the rest of our organization. Additionally, with the current COVID-19 landscape, there has been increased demand for PCAOB accountants and a lack of qualified professionals. We are pressing to complete the audit as soon as possible and then moving forward immediately with the next steps to uplist to OTCQB."
By adhering to periodic filing requirements, Business Warrior will advance on its plan to uplist to the OTCQB Venture Market in support of its broader growth strategy after completing the two-year audit.
Potential Acquisition enters Letter of Intent
Business Warrior is in the process of completing its due diligence and has executed a Letter of Intent for an acquisition. The acquisition is targeted to be completed in the Spring of 2022 and the company will be sharing more details as it progresses.
EVRGRN is a fintech company focused on servicing, technology and distribution for their lending partners. The company was founded in 2019 and had an impressive first year in providing loan servicing solutions during the Paycheck Protection Program, where they processed 1.1 million loans, for a total of $17.4 billion dollars in funding. EVRGRN offers a wide combination of solution sets supporting client-centric models while focusing on providing their partners with leading edge technology. To learn more, visit https://www.goevrgrn.com/.
About Business Warrior
Business Warrior is the source for small businesses in America to enhance their brand and boost marketing results. The Business Warrior software takes a holistic view of a business's online reputation, listings, website search results and social media. Predictive algorithms are utilized to recommend the most imperative actions needed to drive new customers, positively impact daily operations and improve profitability. For more information, please visit BusinessWarrior.com.
Forward Looking Statements:
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SOURCE: Business Warrior Corporation