SAN DIEGO, CA / ACCESSWIRE / April 1, 2024 / CeCors, Inc. (the "Company" or "CEOS") (OTC PINK:CEOS), a vertical enterprise with two subsidiary operations, today announces its year-end financial overview. CeCors, through its subsidiary Vetcomm, has strengthened its market presence and financial performance.
In the fiscal year 2023, CeCors, Inc. saw a substantial increase in its financial performance, with total collections from subscription sales reaching $786,989. Of this total, $419,299 has been realized as immediate revenue, and $367,690 is accounted for as deferred revenue. The impressive climb to $419,299 from the previous year's $19,316 is largely attributed to the seamless integration of Vetcomm.
Since its acquisition in April 2023, Vetcomm has significantly expanded the Company's operational scale and revenue capabilities. Its integration into CeCors has been a pivotal factor in boosting our financial standing, marking a transformative impact on our operational scope.
"Our fourth quarter performance is a clear indicator of Vetcomm's integral contribution to CEOS' financial ecosystem," stated Kate Monroe, Chief Executive Officer of CeCors, Inc. "The major increase in revenue, alongside controlled operational spending, aligns with our commitment to sustainable growth. We are making our investments with precision, and we are beginning to see the payoff from a larger scale."
The Company has carefully navigated the fiscal challenges of 2023, directing its investments into critical areas for long-term success such as infrastructure, talent, and marketing to support Vetcomm's rapid growth. These areas are showing promising results, as evidenced by the improved loss figures-a net loss decrease quarter-over-quarter. The 19.17% reduction in net loss for the fourth quarter signals a trend toward financial stability and operational excellence. CeCors continues to review and refine its processes to enhance operational efficiency and financial performance.
Adding to this positive trend, Vetcomm's fourth quarter performance was exceptional, marking a 103% spike in income, which showcases the effectiveness of Vetcomm's investments. This remarkable growth was primarily fueled by the performance of the 'Gold services (OTP)' and the significant uptake of Vetcomm's subscription plans, both of which have garnered strong resonance in the marketplace. This approach is expected to broaden the company's operational reach and service offerings, laying the groundwork for a surge in revenue streams and a wider market influence.
Looking ahead to 2024, we are poised for the next phase of our corporate evolution," Monroe added. "Our commitment extends beyond growth and operational excellence; we aim to enhance shareholder value through our ongoing uplisting process and transition to becoming a fully reporting company within the next year. The progress we've made in the last two years establishes a solid foundation for our uplist journey."
About CeCors, Inc.
CeCors (CEOS) is a vertically integrated development company, consisting of two distinct subsidiaries delivering long-term, diversified shareholder value. PsyKey Inc. specializes in research, development, production, and commercialization of therapeutic and medicinal entheogenic, adaptogenic, and nootropic ingredients and formulations. Their team of mycology and botany experts develop premium functional product lines. Additionally, CeCors owns VETCOMM.US , a leading innovator in the field of veteran benefits. Many American veterans face challenges in accessing outreach, advocacy, training, and resources while attempting to claim billions of dollars in unused and underutilized benefits available to them. VETCOMM aims to bridge this gap by providing veterans with the necessary resources to access the billions in benefits that often go unused each year.
About VETCOMM
VETCOMM's mission is to empower United States veterans by providing them with the education and resources they need to access the benefits they are entitled to, but not presently receiving. Founded by United States Marine Corps veteran Kate Monroe, VETCOMM is dedicated to advocating for veterans and ensuring they receive the support they need to thrive after serving our country. VETCOMM believes that every veteran deserves to receive the benefits they are entitled to, and is committed to providing a comprehensive education and support platform to help them do just that. With the tools provided by VETCOMM, veterans can get rated and claim the benefits they deserve, preventing the reallocation of funds by the U.S. government to other budget line items and making sure that those who have served their country receive the support they need in order to lead fulfilling lives. For more information visit. https://www.VetComm.us/.
For more information please visit: https://x.com/PsyKeyworld?t=iVa3whcxswysde8kB0EBig&s=08
For further information:
VETCOMM
Website: www.vetcomm.us
Referral Program: www.vetcomm.us/referral-membership/
PSYKEY
Publicly traded company (OTC PINK: CEOS)
Website: www.psykeyworld.com
E-mail: info@psykeyworld.com
Follow us on X/Twitter: https://twitter.com/PsyKeyworld
Forward-Looking Statements:
Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency, and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward- looking statements.
SOURCE: CeCors, Inc.
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