Florida and Arizona lead the way in first three months since IPO
TORONTO, April 18, 2019 /CNW/ - Nerds on Site Inc. (the "Company") (CSE: NERD) (FSE: 3NS.F) (OTCQB: NOSUF), a mobile IT solutions company servicing the SME marketplace, is pleased to report that the Company has expanded its mobile fleet by 133% in the 3 months since the Company's IPO.
"With such a rapid increase in NerdMobiles and number of Nerds, we are very excited and based on experience, anticipate, an uptick in Nerd applications and accelerated revenue growth in these new markets for us in the US," said Charlie Regan, CEO.
- Nerds on Site has ordered 20 new fully branded Red VW Beetle NerdMobiles for Florida and Arizona
- New target markets include Cary, Durham and Raleigh, North Carolina along with Henderson, Nevada
- The total number of NerdMobiles launched in US since IPO increases from 15 to 35, representing a 133% increase in over 3 months.
This NerdMobile order organically fits into the Company's US expansion program, where the target is launching 100 new NerdMobiles and NERD franchisees within the next 24 months. Initial launch teams in Arizona and Florida are generating service calls as a result of their marketing and awareness programs, as was anticipated based on historical growth models in Canada.
"Our growth model indicates that by reaching our 100 NERD target, the Company will more than double current revenue," added Mr. Regan. "It is encouraging to see the same effect from our NerdMobile parades and highly visible NERD community presence, as we have proven in Canada, replicating itself in the US markets we have chosen for initial build out of the brand."
About Nerds On Site:
Nerds on Site, a company founded in 1995, specializes in providing cost effective, leading edge solutions to small and medium sized Enterprise (SME), serving as the complete SME IT solution specialists. Nerds on Site was established in London, Ontario with current annual revenues of approximately $10,000,000. The Company services over 12,000 clients per year with a superb 96.5% customer satisfaction rating. The Company's business model is based on Nerds sub contracts in Canada and a franchise model for USA expansion.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements - Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE Nerds On Site Inc.
For further information: Mr. Charles Regan, CEO of Nerds on Site, Please visit www.investors.nerdsonsite.com, Call 1-877-778-2335, or email IR@nerdsonsite.com.