MITID - MITID STOCK NEWS

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.

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.

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.

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.

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.

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.

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.

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.

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.