CARSON CITY, NV / ACCESSWIRE / August 22, 2022 / CECORS, INC. (OTC PINK:CEOS) ("CeCors" or the "Company"), provides the following corporate update:
Fiscal 2022 has been an exciting year of growth for the Company, as we execute our business plan following the initial acquisition of PsyKey in 2021. PsyKey, our wholly-owned subsidiary, is an innovative wellness company focused on the healing and optimization of the Body, Mind, and Soul. PsyKey specializes in the research, development, and commercialization of mycology-based entheogenic, adaptogenic, and nootropic ingredients, formulations, and products. During the first two quarters of 2022 the company successfully launched its first product offering, PsyKey Functional Mushroom Infused coffees. The coffee line launched in four unique formulations: Mind & Memory, Calm & Relaxed, Immune & Defend, and Reishi Gano Good. Since our initial launch, we have had tremendous feedback on the taste and efficacy of the product offering, which has resulted in the company receiving bulk purchase orders for our product, which should provide a substantial increase in revenue for PsyKey commencing Q3. The positive feedback on products marketed in our initial product offering has also resulted in the development of various new functional mushroom products the Company intends on introducing over the coming months.
In line with the Company's plans for rapid growth, management is actively pursuing revenue-generating acquisitions and strategic partnerships. We are also in the final stages, pending delivery of GAAP compliant financial statements, of closing our acquisition of Nutra-Rox LLC. The Nutra-Rox functional carbonated crystal delivery technology allows for bioavailable ingredients such as functional mushrooms, adaptogens, and nootropics to be delivered via "popping" carbonated crystals. Nutra-Rox is also the developer of Breath Rox®, a sugar-free popping fresh breath treatment which delivers zinc gluconate to help reduce odor-causing bacteria in the mouth. The Nutra-Rox management team has over 50 years of collective experience in research, product development, manufacturing, branding, marketing, sales, and distribution, which should allow CeCors to quickly capitalize on additional revenue generation across newly acquired product lines.
As reflected in our most recent financial statements, our sales have commenced, and while modest in Q2 2022, our current operations are indicative of a company that is no longer a "Shell". As a result, the Company is preparing to file a Supplemental Report with OTC Markets in order to remove the "Shell" status symbol currently applied to our ticker by OTC Markets. The removal of shell status will allow market makers to quote the stock, improve transparency and provide liquidity amongst shareholders and potential investors.
"Sustained growth and building shareholder value have always been and will continue to be, the long-term goals of this company. Increasing operations, commencing product sales and reaching the milestone of exiting shell status, is both exciting for the Company and our amazing shareholders. We would like to thank all of our valued shareholders for their continued support as we look forward to increasing growth and achieving profitability," said Sukhinder Kalsi, Director and Chief Financial Officer of CeCors, Inc.
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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 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.