FORT LAUDERDALE, FL, May 27, 2021 (GLOBE NEWSWIRE) – LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (“LMP” or “Company”), an automotive store founded on e-commerce and amenities in the United States, provided an update to the corporation and announced a postponement of its call for a quarterly convention on the monetary effects of the first quarter of 2021 for the era ended March 31, 2021.
Delayed in its first quarter 2021 monetary results
As indicated in our Form 12b-25 filed with the Securities and Exchange Commission on May 18, 2021, there was a significant replacement in our operational effects of the same era last year, mainly due to past acquisitions that ended the quarter. ended March 31, 2021 The following is an initial representation of these adjustments for the quarter ended March 31, 2021:
The collection, dissemination and review by monitoring the data to be presented on Form 10-Q for the fiscal quarter ended March 31, 2021 imposed time constraints that made the timely filing of Form 10-Q unworkable or overspending. Specifically, this relates primarily to our evaluation and accounting of acquisitions conducted in March 2021.
We expect to register this Form 10-Q in a time and will provide an early date for our call for the quarterly monetary effects convention for the first quarter of 2021.
Financial update for the second quarter of 2021
We are seeing percentage increases in gross earnings in April and May, based on quarterly results, we expect:
We are pleased with our effects and are positive about our ability to continue to grow the company as we move forward. Our portfolio of forward-looking concession acquisitions remains active and we are on track to fulfill our goal of adding 80 to 100 more concessions to our network until the end of next year.
Richard Aldahan, Chief Operating Officer, said: “The investments we make are basic and will continue to allow us to increase productivity and leverage our position design, while in particular the visitor experience. We continue to prioritize investments in recruitment, education and spouse retention. as well as management. “
“Our partners and their more than 450 partners, who come to paint every day to make a difference, have done a remarkable task in very difficult and dubious times and have demonstrated their commitment to achieving our goal,” he concluded. Aldahan.
Company updates and developments:
To date, in 2021, we have made acquisitions that have expanded the company’s network to a total of 14 sites covering the southeast, central Atlantic and northeast regions. Our representative brands include Subaru, KIA, Chevrolet, GMC, Cadillac and Buick.
Short-term future objectives:
Enter new geographic markets
Boost cash ins and profit expansion in existing markets
Innovating and expanding our e-commerce generation platform