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McapMediaWire -CECORS, INC. (OTC: CEOS ) ("CeCors" or the"Company"), is pleased to provide corporate highlights fromthe final quarter of fiscal 2022 and an update to the earlier pressrelease dated December 19, 2022, regarding initial negotiations withVetComm Corp. CeCors and VetComm founder, Kate Monroe have agreed inprinciple to terms as part of the planned 100 percent purchase ofVetComm Corp.
VetComm Corp. is a veteran's education, and benefitscompany focused on assisting the over 14 million United Statesveterans that qualify for underutilized annual benefits and owedcompensation, resulting in estimated Billions of dollars of unclaimedbenefits every month in the United States. Users of VetComm can fileclaims for free, with no medical or service records required. VetCommalso focuses resources to support and donate to Veteran Charities.VetComm's goal for 2023 is to help 1 million veterans get rated,offering support packages leading to benefits with costs ranging from$247 to $997, generating potential revenues for VetComm between $247million and $997 million annually.
As part of the initially agreed-upon terms of theacquisition, CeCors will issue a combination of unregistered,restricted preferred and common shares. In addition, each of SukhinderKalsi, Director and CFO and Amar Bhatal, President, Secretary andDirector, will assign half of their Series A Preferred Shares toVetComm founder Kate Monroe as part of the proposed acquisition terms.Management of the Company continues to be focused on limiting dilutionand bringing value to shareholders using CeCors current capitalstructure.
Concurrent with closing, Kate Monroe will step in as CEO ofCeCors, Inc., and VetComm will operate as a wholly-owned subsidiary.Operations of the controlled subsidiary PsyKey, Inc. will continue torun in parallel.
"Now that we have come to a mutual agreement on the termsof the acquisition, we can focus on closing and consolidating ourefforts moving forward. We have worked diligently to reach termsagreeable to all parties and expect to close the transaction in Q12023. The more we learned about VetComm as part of our due diligenceprocess, the more we understood VetComm's vast potential forgrowth. Kate is determined to enroll 1 million veterans into theVetComm platform this fiscal year (2023), potentially putting billionsof dollars into the pockets of deserving veterans who have put theirlives on the line for their country." commented Mr. SukhinderKalsi, CeCors' Chief Financial Officer.
Mr. Kalsi added,"Kate is the most determined and motivated individual I'veever encountered. Being a marine corps veteran, she has real insightinto the daily challenges veterans face due to a lack of financial andmental health resources. With the current uncertainty in the globaleconomy, VetComm can be an indispensable service partner for all vetsseeking benefits."
"I'm very excited to have come to terms on theacquisition of VetComm. We have an opportunity to get our message outto every veteran who is entitled to unused benefits and compensation.The idea of being involved with a public company only enhances ourplatform to get our message out to the over 14 million veterans whoare entitled to compensation. With our existing high-level politicaland celebrity backing, we're confident we will hit our goal ofenrolling 1 million veterans this year," concluded KateMonroe.
Year in Review for CeCors, Inc.
2022Milestones
The Company has worked diligently over the past year to acquireits initial revenue-generating operations, and OTCMarkets has recentlyupdated our online profile to denote our exit from Shell Status. Thismilestone was in part achieved as a result of the successful launch ofour first retail-ready product offering, PsyKey Functional MushroomInfused Coffee. The launch saw both consumer support and majorcorporate interest leading to the fulfillment of substantial purchaseorders. Continuing with management's goal of steady corporategrowth and wanting to help create inclusivity and ease of access tomental health support, the Company also recently completed thedevelopment of its Telemental Health App PsyKey Live. The App iscurrently being beta tested with real-world scenarios and expanded toallow for additional capabilities.
Building a strong medical, scientific, andmanagement team also continues to be a priority for the Company andwas complemented by the 2022 additions of John Gustin as head ofGlobal business Development; Dr. Michael J. McCarthy as an appointeeto our Scientific Advisory Board; and Dr. Shahiem Hartley to ourMedical Advisory Board. The addition of Dr. Hartley will help theCompany build a mental health support and education platform, whilethe additions of John Gustin and Dr. McCarthy provide a conduit intothe scientific world and the ability for the Company to adequatelydevelop and introduce scientific advancements and patentedtechnologies to the market.
On behalf of the entire CeCors and PsyKey team, wewould like to express our deepest gratitude to our amazingshareholders for their patience and support this past year. We areexcited about what 2023 has in store for the Company, and we lookforward to providing regular updates as we continue.
For furtherinformation:
Publicly traded company (OTC: CEOS) Website: www.psykeyworld.com
E-mail: info@psykeyworld.com
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Forward-Looking Statements:
Safe Harbour Statement - In addition tohistorical information, this press release may contain statements thatconstitute forward-looking statements within the meaning of theSecurities Act of 1933 and the Securities Exchange Act of 1934, asamended by the Private Securities Litigation Reform Act of 1995.Forward-looking statements contained in this press release include theintent, belief, or expectations of the Company and members of itsmanagement team with respect to the Company's future businessoperations and the assumptions upon which such statements are based.Prospective investors are cautioned that any such forward-lookingstatements are not guarantees of future performance, and involve risksand uncertainties and that actual results may differ materially fromthose contemplated by such forward-looking statements. Factors thatcould cause these differences include, but are not limited to, failureto complete anticipated sales under negotiations, lack of revenuegrowth, client discontinuances, failure to realize improvements inperformance, efficiency, and profitability, and adverse developmentswith respect to litigation or increased litigation costs, theoperation or performance of the Company's business units or themarket price of its common stock. Additional factors that could causeactual results to differ materially from those contemplated withinthis press release can also be found on the Company's website. TheCompany disclaims any responsibility to update any forward- lookingstatements.
Contact Details
SukhinderpaulKalsi
CompanyWebsite
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