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Probility Media Corp (OTCMKTS: PBYA) Reduces Debt By Over 56%

Probility Media Corp (OTCMKTS: PBYA), an education company, announced results for fiscal years 2021 and 2020. As of 2019, the company went through various restructuring activities and eliminated non-core activities in order to focus on the core business.

Back to profit: After successfully restructuring its business activities, the company has reduced debt by $ 8.1 million, reducing its debt by over 56%. For 2020, the company reported a significant improvement in operating performance and an operating profit of $ 0.321 million compared to the previous year’s loss. The move from physical assets to virtual classrooms also helped improve performance. In addition, the virtual training helped the company expand its programs to over fifteen US states

Pandemic impacted performance in 2021: In 2021, the company’s revenue decreased 16.5% to $ 6.383 million compared to the corresponding period last year, largely due to the closure due to COVID-19 that affected the company’s physical training program. The pandemic also affected the sales of its subsidiaries. As a result, Adjusted EBITDA also decreased to $ 0.119 million.

2022 is likely to be a better year: The company’s operations, including its subsidiary, were impacted last year due to COVID-19-related restrictions. However, management has seen good traction in its stand-alone operations and subsidiary over the past few months. Its subsidiaries, NACB and disco establishments have returned to pre-COVID levels in terms of sales. Its subsidiary NACB has become one of the few providers of corporate safety training in the United States. After the pandemic, the demand for its security programs has risen sharply. For this reason, the company has hired new trainers to increase its presence in in-company training.

The industry believes that NACB is well positioned to grow over the next few years. The higher contribution from disco also bodes well for the company. A strong contribution from the core business and subsidiary is expected to increase the company’s bottom line. Given the sharp deleveraging resulting from the restructuring, the improvement in operating performance and the decline in interest expenses are expected to support the company’s overall profitability.

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