Fort Lauderdale, Florida , July 07, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today Announced the Appointment of Robert Bellaflores as Chief Financial Officer.

Robert Bellaflores has served as Senior Corporate Controller of LMP since April 16, 2021. Mr. Bellaflores has over 30 years of accounting experience in both public and private industry beginning his career at Deloitte & Touche in New York prior to moving to Florida in 1991. Prior to joining the Company, he was with the Projects Division of Steven Douglas & Associates from 2006 to 2021 as a senior level executive working with clients in Publications Media, Communications, Real Estate, Retail and Manufacturing industries. Prior to 2006, Mr. Bellaflores was the Controller for several public and private companies such as Perfumania and NuCo2. Mr. Bellaflores is a Certified Public Accountant and has a BBA in Accounting from CUNY Baruch College in New York.

Mr. Bellaflores will assume the role of Chief Financial Officer effective immediately and report directly to Mr. Tawfik, Chairman of the Board of Directors and Chief Executive Officer.

Sam Tawfik, the Company's Chairman and Chief Executive Officer commented, "I, on behalf of myself and LMP's Board of Directors, would like to congratulate Mr. Bellaflores for earning the role as CFO. Robert has demonstrated his diverse experience and in-depth knowledge of accounting operations, including managing projects and functions relating to all aspects of GAAP, audit and internal controls, budgeting, forecasting, financial analysis and research, internal and external financial reporting, including SEC filings, reporting and compliance."

Tawfik concluded, "LMP plans to announce additions to senior management personnel in both the accounting and operational departments in the coming weeks to accommodate its rapid growth and M&A strategy."

ABOUT LMP AUTOMOTIVE HOLDINGS, INC.

LMP Automotive Holdings, Inc. (NASDAQ: LMPX) is a growth company with a long-term plan to profitably consolidate and partner with automotive dealership groups in the United States. We offer a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance.

Our proprietary e-commerce technology and strategy are designed to disrupt the industry by leveraging our experienced teams, growing selection of owned inventories and physical logistics network. We seek to provide customers with a seamless experience both online and in person. Our physical logistics network enables us to provide convenient free delivery points for customers and provide services throughout the entire ownership life cycle. We use digital technologies to lower our customer acquisition costs, achieve operational efficiencies and generate additional revenues. Our unique growth model generates significant cash flows, which funds our innovation and expansion into new geographical markets, along with strategically building out dealership networks, creating personal transportation solutions that consumers desire.