Trucept Announces Significant Increase In Revenue for Q2

Rhea-AI Summary

Trucept Inc. (OTC Pink: TREP) reported a 20% increase in total revenue for Q2 2022 compared to the same quarter last year, marking another quarter of profitability. CEO Norman Tipton expressed satisfaction with the growth across all business units. The company also plans to conduct audits for the years ending 2021 and 2022 after previous delays caused by COVID-19. Trucept offers a range of professional services, including marketing, payroll, and HR management, aimed at supporting business growth.

Positive

• 20% increase in total revenue for Q2 2022 compared to the previous year.
• Consecutive quarter of profitability.
• Continued growth in all subsidiaries and core business.

Negative

• Audit for financial statements for 2019 and 2020 was delayed due to COVID-19.
• Company needs to find CPA audit firms for year-end audits after December.

SAN DIEGO--(BUSINESS WIRE)-- Trucept Inc. (OTC Pink: TREP) has released its updated financials for Q2 2022. The company reported another consecutive quarter of profitability, driven by a significant increase in total revenue for Q4 as compared to the same time period last year. For the quarter ending on June 30^th, 2022, Trucept posted an impressive 20% increase in total revenue.

CEO Norman Tipton commented, “We continue to be very pleased with the results being posted by our business units. Our core business and all subsidiaries continue their impressive growth run in revenue and we look forward to an amazing Q3 of revenue increases.”

As previously reported, the audit for the Company’s financial statements for the years ending 2019 and 2020 was put on hold due to multiple difficulties presented by the COVID pandemic. Moving forward, Trucept is required to audit the two most current year ends, which, in this case, would be the financial statements for the years ending 2021 and 2022. The Company is also researching CPA Auditing Firms located in Southern California to perform the year-end audit after December.

Trucept offers professional services that help businesses navigate growth. The Company’s professional services now encompass the following:

• Marketing, technology, and Accessibility Act compliance services
• Insurance offerings and third-party administrator (TPA) services
• Payroll
• Human resources and management
• Employee benefits administration
• Accounting support
• Safety and risk management

For additional information, please 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 www.truceptservices.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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220824005056/en/

Kevin Brewer (kbrewer@trucept.com).

Source: Trucept Inc.

FAQ

What were Trucept's financial results for Q2 2022?

Trucept reported a 20% increase in total revenue for Q2 2022 and achieved profitability.

What is the stock symbol for Trucept Inc.?

The stock symbol for Trucept Inc. is TREP.

Who is the CEO of Trucept?

The CEO of Trucept Inc. is Norman Tipton.

What services does Trucept Inc. offer?

Trucept offers services in marketing, payroll, HR management, and more.

Why was the audit for Trucept's financial statements delayed?

The audit for Trucept's financial statements was delayed due to difficulties presented by the COVID pandemic.