Trucept Announces Outstanding Results For 2022

Rhea-AI Summary

Trucept Inc. (OTC Pink: TREP) reported robust financial results for the year ending December 31, 2022, demonstrating continued profitability. The company achieved a 14.3% increase in revenue compared to the previous year, accompanied by an 11.4% rise in total stockholders' equity. CEO Norman Tipton noted the positive performance amid economic challenges and highlighted the appointment of a new auditing firm to facilitate an uplist to OTCQB. Trucept provides a range of professional services, showcasing resilience and consistent growth in its operations.

Positive

• 14.3% increase in revenue year-over-year.
• 11.4% rise in total stockholders' equity.

Negative

• None.

SAN DIEGO, March 27, 2023 /PRNewswire/ -- Trucept Inc. (OTC Pink: TREP) today has released its updated financials for the full year 2022. The company reported that the firm posted another consecutive year of profitability, driven by a significant increase in total revenue as compared to the same period last year. For the year ending on December 31st, 2022, Trucept posted an impressive 14.3% increase in revenue versus the prior full year results. Total Stockholders equity also increased by 11.4%.  

Trucept posts record gain in revenue! 

CEO Norman Tipton commented: "As we emerge from the pandemic, we continue to be extremely pleased with the excellent results being posted by our business units. Our core business and subsidiaries continue to grow despite challenges in the overall economy. Separately, we named a new outside auditing firm, and we are making meaningful progress on financial audits which will allow the company to up list on the OTCQB".

Trucept, offers professional services that help businesses navigate growth. The company's professional services now encompass the following:

• Data Driven Marketing, Technology, and Accessibility Act compliance Services
• Insurance Offerings and Third-party Administrator (TPA) services
• Full-Service Payroll
• Human Resources and Management
• Employee Benefits Administration
• Accounting Support
• Safety and Risk Management

For additional information, visit  www.trucept.com

About Trucept Inc.

True solutions, today and tomorrow: Trucept Inc. helps organizations focus on growing their business. With a dedicated suite of powerful tools and services designed to put business owners in charge of running their businesses and increasing efficiency, Trucept tackles a variety of important administrative needs and provides a host of value-added advantages. For more information, call 858-798-1620 or visit https://trucept.com/.

Disclaimer

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.

 

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SOURCE Trucept Inc.

FAQ

What were Trucept's financial results for 2022?

Trucept Inc. reported a 14.3% increase in revenue for the year ending December 31, 2022.

How much did Trucept's stockholders' equity increase?

Total stockholders' equity increased by 11.4% in 2022.

What is Trucept's stock symbol?

Trucept's stock symbol is TREP, traded on OTC Pink.

What changes did Trucept make regarding auditing firms?

Trucept appointed a new outside auditing firm to progress towards uplisting on OTCQB.