Expectation of Profitability in Q1 2025
HENDERSON, Nev.
, Sept. 26, 2024 /PRNewswire/ -- Grow Capital, Inc. (OTCPINK: GRWC), a publicly traded financial services and technology holding company committed to fostering growth through strategic acquisitions and innovation, is pleased to provide an update on its subsidiary, PERA Administrators LLC ("PERA ADMIN"), a wholly owned third-party administration company launched in March 2020. Despite the challenges of recent years, including the global pandemic, PERA ADMIN has recently achieved significant operational milestones. Through exceptional leadership and a committed support team, PERA ADMIN is on target to reach break-even operational results, shortly followed by positive cash flow, no later than the close of the first quarter of 2025.
Grow Capital CEO, Terry Kennedy, commented, "The PERA ADMIN team has done an extraordinary job acquiring school districts and church plans for 403(b) and 457 accounts over the past year, generating escalating recurring service fees from vendors. With the Company's appointment-setting machine, Advisors Connect, now in full swing, PERA ADMIN is poised for escalating revenue growth as we expect to add complementary revenue from finalized appointments in these districts."
Current PERA ADMIN revenue is approaching $80,000 per quarter, with recurring costs, including payroll, fixed at $105,000. As the Company is able to secure the expected revenue increase through appointments, PERA ADMIN expects to report profitable results in 2025.
With revenue on a recurring basis now secured in PERA ADMIN, Grow Capital management is pleased to report that all operating subsidiaries—PERA LLC, PERA ADMINISTRATORS, LLC, and Bombshell Technologies LLC—are well on the path to profitability. This achievement comes as the Company has returned to current reporting status on the OTCMarkets Pink tier and aims to clear an in-progress 15c211 by the close of 2024. Driving sales in each subsidiary through 2025 to achieve company wide profitability is the next major milestone for Grow Capital.
For more information on PERA Administrators LLC and to explore their services, please visit their website at https://www.peraadministrators.com/. To learn more about Grow Capital Inc., visit http://www.growcapitalinc.com .
About Grow Capital Inc.
Grow Capital Inc. (OTC: GRWC) is a publicly traded company dedicated to acquiring, launching, and managing businesses that provide innovative solutions in financial technology and services. Through its strategic subsidiaries, Grow Capital Inc. is committed to driving shareholder value and fostering sustainable growth.
Media Contact:
Terry Kennedy, CEO
Grow Capital Inc.
2485 Village View Drive, Ste. 190
Henderson, NV 89074
Phone: 702-272-2019
Stay updated with our progress: https://www.growcapitalinc.com/
Forward Looking Statements Disclaimer: This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Grow Capital, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such forward-looking statements include the words "returning," "looking forward," "seek", "grow", "plan" and other expressions of a forward-looking nature. More information about the potential factors that could affect the business and financial results is and will be included in Grow Capital, Inc.'s filings with the OTC Markets, and/or posted on the Company's website.
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SOURCE Grow Capital Inc.
