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MITESCO INC - MITI STOCK NEWS

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Mitesco, Inc. (symbol: MITI) is a development stage company dedicated to consolidating businesses within the compound pharmacy industry, serving human and veterinary markets. Beginning its operations in the Southeast, Mitesco aims to acquire compounders across the United States that align with its mission and vision. The company is committed to unlocking the potential of the compounding pharmacy sector to improve both human and animal health, meet unmet patient needs, enhance the dignity of skilled pharmacists, and build shareholder value through providing quality, cost-effective, and innovative healthcare products and pharmaceuticals worldwide.

Mission: To unlock the potential of the compounding pharmacy industry, improve health outcomes, and provide innovative healthcare solutions while building shareholder value.

Vision: To be globally recognized for best practices in quality, efficiency, and sustainability within the compounding pharmaceutical industry.

Recent Achievements & Current Projects:

  • Full compliance with reporting requirements, including the completion of the Annual Report on Form 10-K.
  • Engagement of Accell Group as their auditor to support compliance and review records effectively.
  • Institutional investors' continued support through 12-month notes to secure funding needs.
  • Ongoing evaluation of the company's capital structure to support both historical and new investors.
  • Formation of a new Advisory Board to assist in evaluating potential acquisition candidates, including both private and publicly held entities.
  • Strategic focus on technology, service, and product business candidates, with a view towards distributing dividends to shareholders from spin-outs.

Financial Condition: Mitesco is actively managing its financial structure, including the termination of a prior stock option program, cancellation of a reverse stock split, and adjustment of restricted stock dividends to protect common stockholders' interests.

Partnerships: Collaboration with Accell Group and support from institutional investors have been crucial in advancing Mitesco's key initiatives and compliance activities.

Future Prospects: With a strategy focused on both organic and acquisition growth, Mitesco aims to leverage its expertise in startups and turnarounds to create successful growth situations. The company is also exploring new initiatives in the data center market and cyber security services, intending to enter commercial, governmental, and utility markets.

Conclusion: Mitesco's dedication to providing high-quality, accessible, and affordable healthcare solutions underscores its potential to become a leading player in the compounding pharmacy industry. By focusing on quality, efficiency, and sustainability, Mitesco is positioned for long-term growth and shareholder value creation.

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Mitesco's (OTC:MITI) subsidiary Centcore announces expanded capabilities at its Melbourne, Florida data center. The facility offers secure, high-performance computing solutions at costs 20% lower than major providers like AWS, Microsoft Azure, and Google Cloud. The center specializes in business automation, enterprise computing, and infrastructure applications.

The facility features advanced infrastructure including high-density server racks, redundant power systems, and eco-friendly cooling techniques. Key features include 24/7 surveillance, biometric access, robust firewall protection, and scalable solutions for businesses of all sizes. The center will host a virtual tour and Q&A session on January 6th, 2025.

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Mitesco (OTC:MITI) reported a significant financial turnaround in Q3 2024, posting a $2.0 million net income compared to a $2.5 million loss in the previous year. The company achieved $.29 EPS on 6.3 million shares outstanding. Operating expenses decreased to $721,000 from $2.4 million year-over-year. The company has successfully restructured over $25 million in liabilities, including $13 million in senior securities and $12 million in debt converted to restricted common stock at $4.00 per share. The company's Centcore data center business is gaining traction, particularly among municipal entities and financial institutions. Additionally, Mitesco appointed Marty Valania, a digital marketing veteran, to its Advisory Board to support growth initiatives.

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Mitesco (OTC:MITI) announced significant restructuring progress, having finalized over $8 million in debt and senior equity restructuring, aiming to clear all obligations by December 31, 2024. Debt holders have converted to common stock at $4 per share, with a new Series A Amortizing Preferred stock being created for accredited institutional investors. The company expanded its Advisory Board with two new professionals focusing on data center development and systems software. Through its Vero Technology Ventures subsidiary, the company is developing AI-based sales automation applications and evaluating cloud computing solutions. The Centcore data services division is progressing in market establishment.

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Mitesco's Centcore Cloud Computing unit has partnered with Esri, the global leader in location intelligence, to offer advanced GIS software and geospatial support. Centcore plans to implement Esri's full Enterprise application set, including ArcGIS Server, ArcGIS Enterprise portal, ArcGIS Data Store, and ArcGIS Web Adaptor. This collaboration aims to provide GIS users with significant savings compared to in-house solutions or more expensive platforms like AWS, MS Azure, or Google Cloud.

The global GIS market, valued at $12.9 billion in 2023, is projected to grow significantly, potentially reaching $14.5-$35.5 billion by 2025-2032. Mitesco CEO Mack Leath sees this partnership as an opportunity to tap into the growing geospatial industry and improve services for clients and GIS partners. Tom Simon, owner of Synthos, , will support Centcore's efforts with his expertise in GIS services.

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Mitesco Inc (OTC:MITI) has announced significant developments in its Centcore Cloud Computing business unit. The company has expanded its processing environment to include both Microsoft and Linux platforms, offering shared virtual tenancy and dedicated servers. Centcore is also quoting virtual remote backup, including video backup for facility monitoring.

The business unit has shown promising results, generating revenue in Q2 with four initial clients and receiving new client quotes weekly. Centcore offers a guaranteed cost advantage of at least 20% compared to major cloud providers like AWS, Azure, or Google Cloud. The company is focusing on developing a complete line of infrastructure-related applications, available on a pay-per-use basis.

Mitesco is pursuing partnerships with various software application providers, including ESRI, and plans to expand into civil engineering, mechanical design, and structural design applications. The company aims to offer a full suite of integrated applications for design and engineering through a 'desktop' approach, eliminating the need for workstation hardware or licenses.

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Mitesco, Inc. (MITI) has expanded its Advisory Board with the addition of two professionals, Tom Simon and Chris McLoughlin, bringing expertise in infrastructure, GIS, outsourcing, and data center operations. The Advisory Board will assist in finding and evaluating companies for integration into the public holding company. Simon, owner of Synthos, , specializes in geographical information systems and has worked with key advisory firms. McLoughlin, owner of Accucom Consulting, Inc., focuses on software and systems development for the public safety sector.

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Mitesco, Inc. (OTC: MITI) announces an investor call scheduled for April 30, 2024, to discuss year-end results and new initiatives. The company is focusing on a new data center and infrastructure initiative to address key market needs, with a projected market volume of US$99.16bn in 2024. Mitesco plans to offer data center services, application-specific software, and staffing to meet the growing demand for power generation, network access, and data security. The company is also expanding its Advisory Board with experts in GIS, law enforcement, and land planning to facilitate market entry. Mitesco is actively reducing liabilities from previous healthcare investments and aims to provide growth opportunities for shareholders.
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Mitesco, Inc. (MITI) appoints cybersecurity and consumer products experts to its Advisory Board. The Board aims to assist in evaluating companies. Kristen Plybon, a data security professional, Nathaniel Wade, a cybersecurity specialist, and William Thein, a veteran in the natural food & beverage industry, join the Board.
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Mitesco, Inc. (MITI) provided an update on key initiatives, including compliance activities, capital structure evaluation, and acquisition efforts. The company is progressing towards completing its Annual Report on Form 10k, engaging a new auditor, and considering changes to its capital structure. Institutional investors are supporting the company with funding through 12-month notes. Mitesco terminated a stock option program, cancelled a reverse stock split, and adjusted restricted stock dividends to benefit common stockholders. The company is focused on protecting the interests of its shareholders and aims to increase trading volume to enhance potential returns. Additionally, Mitesco is recruiting an Advisory Board to assist in finding and evaluating acquisition candidates, with a focus on technology, service, and product businesses.
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Mitesco, Inc. (MITI) provided an update to shareholders regarding restructuring operations, financials, and capital structure. The company aims to create a growth-friendly environment through acquisitions. Despite past challenges with a non-profitable clinic subsidiary, Mitesco is focused on settling litigation, enhancing shareholder value, and exploring new acquisition opportunities.
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FAQ

What is the current stock price of MITESCO (MITI)?

The current stock price of MITESCO (MITI) is $0.4 as of December 23, 2024.

What is the market cap of MITESCO (MITI)?

The market cap of MITESCO (MITI) is approximately 3.5M.

What does Mitesco, Inc. do?

Mitesco, Inc. consolidates businesses in the compound pharmacy industry, serving both human and veterinary markets.

Where is Mitesco, Inc. starting its operations?

Mitesco is beginning its operations in the Southeast and intends to acquire compounders across the United States.

What is Mitesco's mission?

Mitesco's mission is to unlock the potential of the compounding pharmacy industry to improve health outcomes and provide innovative healthcare solutions.

Who is Mitesco's new auditor?

Mitesco has engaged the Accell Group as their new auditor.

What recent financial adjustments has Mitesco made?

Mitesco has terminated a prior stock option program, cancelled a reverse stock split, and adjusted restricted stock dividends.

What will Mitesco's new Advisory Board focus on?

The new Advisory Board will assist in evaluating potential acquisition candidates and exploring both private and publicly held entities.

What new market is Mitesco exploring?

Mitesco is exploring new initiatives in the data center market and cyber security services.

How is Mitesco managing its capital structure?

Mitesco is evaluating its capital structure, including securing funding through 12-month notes and considering changes to support all investors.

What is Mitesco's vision?

Mitesco aims to be globally recognized for best practices in quality, efficiency, and sustainability within the compounding pharmaceutical industry.

Who supports Mitesco financially?

Mitesco is supported by institutional investors and has engaged Accell Group for auditing and compliance support.

MITESCO INC

OTC:MITI

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