Tempe, Arizona--(Newsfile Corp. - June 9, 2020) - Kading Companies dba Business Warrior (OTC PINK: KDNG), the source for small businesses in America to enhance their brand and boost marketing results, has posted its quarterly report for the period ending February 29, 2020 and will have its first investor call. The Company has doubled new subscribers since the fourth quarter of 2019 on their Computer platform and user engagement is at all time highs since the company's inception. As anticipated during the first phase of launching the platform, the Company is running at a net loss, but is ahead of schedule on product development and capturing market share.
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Business Warrior Corporation launched their software platform late last year and were able to onboard over 1,400 small business locations in the first seven months of launch. As of May 31st, the Company is acquiring more than 200 new small business subscribers per month and consistently improving their acquisition metrics each month.
The Business Warrior team is hosting a webcast on June 23rd to discuss their product and growth strategy (Find the link below to register).
Sales and Operations
The company remains focused on growing subscribers, increasing recurring revenue and becoming profitable through a series of initiatives:
- Premium services that customers upgrade into from a base product
- Launching a marketplace within the platform where subscribers can purchase a variety of solutions to solve the problems facing small businesses outlined in the base subscription
- Add more value for users while increasing the average revenue per subscriber
- Increase total subscribers through marketing initiatives
- Continually decreasing the company's Average Cost per Acquisition
"We are focused on solving real problems for small businesses in a difficult time. We are built to solve problems faster and at a lower cost than other solutions in the market, which enables us to gain market share and prove to be the source for business owners in America," said Rhett Doolittle, CEO of Business Warrior Corporation.
Additionally the company has shifted their workforce to be 100% virtual since COVID-19, reducing their operational expenses by 17% with operational productivity noticeably improving.
"Shifting to a virtual workforce during COVID scared me at first, but our team rallied together during this challenging time and we have outperformed expectations in all areas since," continued Mr. Doolittle.
First Quarter Product Performance (Quarter ending 2/29/20)
- The company shifted from a licensed platform to their own product (IP is 100% owned by Business Warrior)
- Annual attrition is 3.5% per year (down from 59% per year on previous licensed solutions)
- Total subscribers at the end of the first quarter: 1,442
- 224% increase of new subscribers in the first quarter for the company owned product
- Released Version 1.0 of product on August 1, 2019
- 563 new qualified leads in first quarter & 641 new qualified leads already acquired thru 5/31/20 (On pace for 81% increase in qualified leads the second quarter of 2020)
Business Warrior has a concise plan to scale and maximize shareholder value. The Company is in the second phase of a five stage plan:
- Complete reverse merger and change name/ticker (the merger is complete and waiting on response from FINRA for name/ticker change)
- Raise capital to scale sales operations and increase recurring revenue
- Raised $225K in the first quarter of 2020 and on track to increase recurring revenue in the second half of the year
- Perform financial audit
- Become fully reporting entity
- Uplist within OTC
The company expects to launch its product marketplace on July 8th, its biggest product update since launching Business Warrior last year. Up until this release, subscribers have been able to identify issues, but the solution to fix the issues identified by the platform have been the responsibility of the business. With Business Warrior's new marketplace, a subscriber will be able to identify a problem and get a solution provided by Business Warrior or a third party within seconds.
"We are providing low cost solutions that small businesses need right now. Marketing agencies have been gouging small businesses for their solutions while providing an inferior product," said Doolittle about the solutions that will be available in their new marketplace.
With the merger finalized, the Company is changing names from Kading Companies to Business Warrior Corporation and will have a new stock symbol. The Company has filed this corporate action with FINRA. This will bring uniformity to the Business Warrior brand and help expand awareness to investors and the target audience.
First Quarter 2020 Conference Call
The Company will host a conference call and webcast on Tuesday, June 23, 2020 at 4:30 p.m. eastern time, during which management will discuss the financial results in further detail. The call and webcast may be accessed by registering at the following link.
Participants may register for the call until June 23, 2020 at 8:30 a.m. Eastern time. A recording of the call will be posted on https://businesswarrior.com/investor-relations/ following the call.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57517