LMP AUTOMOTIVE HOLDINGS, INC. APPOINTS FORMER BRAMAN AUTOMOTIVE CHIEF FINANCIAL OFFICER EVAN BERNSTEIN AS ITS CHIEF FINANCIAL...
September 14 2020 - 4:00PM
LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company" or
“LMP”), an e-commerce and facilities-based platform for consumers
who desire to buy, sell, subscribe for or finance pre-owned and new
automobiles, today announced the appointment of former Braman
Automotive Chief Finance Officer Evan Bernstein as its Chief
Financial Officer.
“On behalf of LMP and its Board of Directors, I
would like to welcome Evan Bernstein to the LMP team” began Sam
Tawfik, the Company’s Chairman and Chief Executive Officer. “Evan
is joining us at a key moment during our active, dealership-group
acquisition and integration strategy. His industry leading
experience overseeing and managing the performance of 23
multi-state franchises generating billions of dollars in annual
revenues during his career adds incredible value to LMP as we
execute upon our aggressive rollup strategy. In addition, his
operational expertise will help us deploy our industry-leading
practices during our planned next-wave of prospective acquisitions
and our e-commerce home delivery, site-to-store, and
ship-from-store delivery roll-out for our customers”, Tawfik
concluded.
"I am honored and enthused to be joining LMP.
This elite, pioneering, game-changing company and management team
with their flexible and well-structured acquisition and e-commerce
model is the opportunity I have been seeking for some time. I am
looking forward to helping lead LMP to its next phase of
growth.”
said Bernstein, LMP’s newly appointed Chief
Financial Officer.
Mr. Bernstein’s qualifications span 15 years of
automotive industry and 5 years of public accounting experience.
From 2001 to 2004, Mr. Bernstein was an auditor at Morrison, Brown,
Argiz, and Farra, and a senior auditor at Crowe Horwath from 2004
to 2005. From 2005 to 2008, Mr. Bernstein served as Assistant
Controller at the Braman Organization, rising to Controller from
2008 to 2009, Senior Controller from 2009 to 2015 and Chief
Financial Officer and Treasurer of Braman Automotive Dealerships
Miami from 2015 to 2019, a role in which he was responsible for 23
franchises generating approximately $2 billion in annual
revenue.
Mr. Bernstein is a CPA and has a master’s degree
in taxation from the University of Miami and a Bachelor of
Science-Accounting from Florida State University.
LMP believes Mr. Bernstein’s high-level of
automotive dealership and public accounting experience will bring
significant operational and financial expertise to the company as
we pursue our aggressive rollup strategy.
ABOUT LMP AUTOMOTIVE HOLDINGS, INC. –
“BUY, SUBSCRIBE, SELL AND REPEAT.”LMP Automotive Holdings,
Inc. (NASDAQ: LMPX) describes its business model as “Buy,
Subscribe, Sell and Repeat.” This means that we “Buy” pre-owned
automobiles primarily through auctions or directly from other
automobile dealers, and new automobiles from manufacturers and
manufacturer distributors at fleet rates. We “Subscribe” the
automobiles to our customers by allowing them to enter into our
subscription plan for automobiles in which customers have use of an
automobile for a minimum of thirty (30) days. LMP’s all-inclusive
vehicle subscription membership includes monthly swaps and covers
insurance, maintenance and upkeep. It offers the flexibility to
upgrade your vehicle to a more premium model or downgrade for a
lesser cost model when you like. We “Sell” our inventory, including
automobiles previously included in our rental and subscription
programs, to customers as well, and then we “Repeat” the whole
process.
For more information visit:
lmpmotors.com
FORWARD-LOOKING STATEMENTS:This press release
may contain “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, each as amended. Such statements
include, but are not limited to, any statements relating to our
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar matters that are not
historical facts. These statements may be preceded by, followed by
or include the words “aim,” “anticipate,” “believe,” “estimate,”
“expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,”
“potential,” “project,” “projection,” “seek,” “can,” “could,”
“may,” “should,” “would,” will,” the negatives thereof and other
words and terms of similar meanings. Forward-looking statements are
based on management’s current expectations and are subject to risks
and uncertainties that could negatively affect our business,
operating results, financial condition and stock value. Factors
that could cause actual results to differ materially from those
currently anticipated include: our dependence upon external sources
for the financing of our operations; our ability to effectively
executive our business plan; our ability to maintain and grow our
reputation and to achieve and maintain the market acceptance of our
services and platform; our ability to manage the growth of our
operations over time; our ability to maintain adequate protection
of our intellectual property and to avoid violation of the
intellectual property rights of others; our ability to maintain
relationships with existing customers and automobile suppliers, and
develop relationships; and our ability to compete and succeed in a
highly competitive and evolving industry; as well as other risks
described in our SEC filings. There is no assurance that any
forward-looking statements will materialize. You are cautioned not
to place undue reliance on forward-looking statements, which
reflect expectations only as of this date. We expressly disclaim
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions or circumstances on which any such statement is based,
except as required by law.
John Mattio
President and Founder
Lamnia International
(203) 885-1058
jmattio@lamniacom.com
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