ProBility Media Corp.’s (OTCQB: PBYA) acquisition of One Exam Prep LLC, which was completed earlier this year, is key to its growth strategy. One Exam Prep is currently specializing in exam preparation and certification in the construction industry. It offers continuing education and certification online or in a classroom setting in 20 states, with the goal of operating in all 50 states. ProBility Media reported revenue at greater than $1 million for Q1 ended January 31, 2017.
Houston-based ProBility is an EdTech company serving 15 vertical categories in more than 60 skilled trades. It is positioned as an industrial training resource for individuals and small businesses. It offers training services as well as materials for education, advancement in careers, and testing. Virtual reality training, now operational for the crane business, will be expanded into other industries. The company said it is also beginning to investigate international expansion.
One Exam Prep, based in Coconut Creek, Florida, offers low cost yet effective exam prep courses in the construction industry. The company owns more than 70 domains related to contractor licensing and continuing education, according to One Exam’s Rob Estell, and it has created hundreds of courses offered either online or in traditional classroom settings in more than 20 states.
For the three months ended January 31, 2017, ProBility Media recorded revenues of $1,088,180, compared to $878,005 during the same period of the prior year. The recent three-month sales total represented the company’s third consecutive quarter of year-over-year revenue growth. The results of One Exam are included in the consolidated financial performance, subsequent to January 1, 2017.
ProBility Media entered into a multi-year consulting agreement with Rob Estell, the founder of One Exam, through December 31, 2020. It includes salary, an annual performance bonus based on One Exam’s revenues and profits, a signing payment, and a non-recourse secured convertible promissory note valued at $300,000.
For more information, visit the company’s website at www.ProBilityMedia.com
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