CEOS Reports $1.03M in Q1 Sales; VETCOMM Drives Growth and Sets Stage for Strong Q2

CARSON, CA / ACCESSWIRE / May 16, 2024 / CeCors, Inc. (the "Company" or "CEOS") (OTC PINK:CEOS), a vertically integrated company focused on diverse operating channels, including the rapidly expanding veterans' services and benefits operations of its subsidiary VETCOMM, is proud to report a strong start to the 2024 year with expectations of ongoing developments in its strategic growth initiatives.

Foto: Accesswire

In the first quarter of 2024, CEOS achieved total new sales for the quarter of approximately $1,030,000. This is a testimony to the successful integration and rapid expansion of VETCOMM's operating business model. The realized revenue of $685,686, including $204,500 of revenue deferred from prior period sales, combined with additions to deferred revenue in the period of just under $550,000, brings the total new sales for the first quarter to approximately $1,030,000. The Company incurred a consolidated net loss of $217,827 predominantly as a result of strategic investments in sales and marketing and operational expenses that management considered vital for long-term growth and market penetration.

VETCOMM has been a significant driver of the Company's revenue growth since its acquisition in 2023. This has positioned CEOS to capitalize with new markets and enhance service offerings. The upcoming quarters will focus on further developing VETCOMM's capabilities and extending its reach to provide even more comprehensive services to veterans around the United States.

CEOS is excited to announce plans to add new independent members to its board of directors which will position CEOS to meet the listing requirements for an uplist to the OTCQB market. This step is part of our broader effort to enhance shareholder value, providing greater operational oversight and ensuring strong corporate governance.

"I'm excited about our push for greater transparency as we prepare for a PCAOB audit," stated Sukhinder Kalsi, Chief Financial Officer of CeCors, Inc. "We are currently evaluating potential firms to engage and will make a decision soon. These steps highlight our commitment to integrity as we gear up for the OTCQB uplist."

With an exciting first quarter complete, VETCOMM is committed to maintaining its growth trajectory in the second quarter. The Company plans to engage the services of a PCAOB registered independent accounting firm this year to complete audits of our financial results, underlining our commitment to financial integrity and accountability as we prepare for the next phase of our corporate journey.