Vancouver, British Columbia–(Newsfile Corp. – September 17, 2020) – LOOPShare Ltd. (TSXV: LOOP) (OTCQB: LPPPF) (FSE: 3KZ) (“LOOPShare” or the “Firm”) is happy to announce that its Scoot-E-Bikes® are actually accessible on the market on Amazon.com by its Amazon Launchpad program (www.amazon.com/launchpad). Amazon Launchpad helps entrepreneurs by offering sources, experience, and world help to assist showcase and ship modern merchandise to tens of millions of Amazon clients. Amazon Launchpad is a supplemental program designed to jumpstart and speed up start-ups and entrepreneurs.
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The Scoot-E-Bike® model was initially created by Ray J, a profitable tech-entrepreneur, TV persona and musician. It was acquired by LOOPShare to offer an eco-friendly, environment friendly, and handy mode of transportation, which straight aligns with LOOP’s core sustainable transportation enterprise mannequin. Excessive profile celebrities like Sean “Diddy” Combs, Justin Bieber, Chris Brown, Brandy Norwood, and Snoop Dogg have all been seen driving and having fun with their Scoot-E-Bikes. Ray J is a key member of the Loop group and he works carefully with the Firm as a Model Ambassador for Scoot-E.
The COVID-19 pandemic has had a big affect on companies throughout the globe, and LOOPShare isn’t any exception. COVID-19 has led to adjustments in client habits, together with a diminished reliance on public transit and shared modes to transportation. Within the electrical scooter sharing phase, main business gamers resembling Chicken and Lime have undertaken vital layoffs and diminished availability of shared electrical scooters attributable to decreased demand. The sensible realities of sanitizing electrical scooters after every use has introduced vital operational issues. Many electrical scooter ridesharing corporations are revaluating their enterprise mannequin and altering how they’re deploying and advertising providers.
Then again, there was a big improve in demand for private use e-bikes just like the Scoot-E Bike. Private use e-bikes are snug, handy, and permit customers to socially distance whereas being energetic. When paired with an electrical motor, e-bikes could make even lengthy commutes a calming and sweat-free expertise. E-bikes additionally contribute to world emission reductions as a inexperienced various.
LOOPShare has been evaluating its enterprise mannequin all through the COVID-19 pandemic. It made efforts to redeploy its bigger electrical scooters to be used in supply or single level rental operations. After evaluating its present operations and altering traits attributable to COVID-19, LOOPShare has decided that the most effective enterprise mannequin to comply with within the close to time period is to extend concentrate on the sale of the Scoot-E-Bike. As a private use (non-shared) e-bike that’s in demand, this gives the most effective near-term alternatives for income and profitability.
In furtherance of this focus, LOOPShare will likely be trying to cut back its present fleet of bigger electrical scooters by sale or different disposition. LOOPShare intends to retain a small fleet (15 to 30 electrical scooters) that it may use to check completely different fashions together with supply, rental and doubtlessly rideshare as soon as the COVID-19 pandemic subsides.
To study extra, go to www.loopscooters.com.
Cautionary Word Relating to Ahead-Wanting Info
This information launch accommodates “forward-looking info” regarding anticipated developments and occasions associated to LOOPShare Ltd. (or the “Firm”) which will happen sooner or later. Ahead trying info contained on this information launch contains, however just isn’t restricted to, statements with respect to the Firm’s future gross sales, revenues and income, intentions with respect to the sale of the Scoot-E-Bike and its intention to promote or switch its bigger electrical scooters.
In sure circumstances, forward-looking info could be recognized by means of phrases resembling “expects”, “intends”, “anticipates” or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “would”, or “may” suggesting future outcomes, or different expectations, assumptions, intentions or statements about future occasions or efficiency. Ahead-looking info contained on this information launch is predicated on sure elements and assumptions concerning, amongst different issues, the accuracy, reliability and applicability of the Firm’s enterprise mannequin; the well timed receipt of licenses; the well timed receipt of stock; operational success; the implementation of the Firm’s marketing strategy as meant; the Firm’s capability to entry financing; and the affect of competitors. Whereas the Firm considers these assumptions to be affordable, they might be incorrect.
Ahead trying info entails identified and unknown dangers, uncertainties and different elements which can trigger the precise outcomes to be materially completely different from any future outcomes expressed by the forward-looking info. Such elements embody dangers associated to acts of God, the affect of common financial situations, altering transportation business situations, will increase in working prices, terrorism, forex fluctuations, dangers associated to the impact of the COVID-19 pandemic on the worldwide financial system and demand for the Firm’s services and products, rates of interest, dangers particular to the transportation business, the flexibility to draw certified personnel, labour disputes, regulatory dangers, together with dangers referring to the acquisition of the mandatory licenses, financing, capitalization and liquidity dangers, together with the danger that the financing might not be obtained and the extra dangers recognized within the “Danger Components” part of the Firm’s filings with relevant Canadian securities regulators.
Though the Firm has tried to establish elements that might trigger precise outcomes to vary materially from these described in forward-looking info, there could also be different elements that trigger outcomes to not be as anticipated. Accordingly, readers shouldn’t place undue reliance on forward-looking info. The forward-looking info is made as of the date of this information launch. Besides as required by relevant securities legal guidelines, the Firm doesn’t undertake any obligation to publicly replace forward-looking info.
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) has reviewed or accepts duty for the adequacy or accuracy of this launch.
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