ParagonX Holdings, Inc. Maintains Profitability, Improves Balance Sheet, and Continues Work with Creditors as the Transition Team Completes its Work

Rhea-AI Summary

ParagonX Holdings (OTC:CAVR) released its 2024 earnings report, showing continued profitability and improved balance sheet metrics. The company reported revenue of $4.7M in 2024, up from $4.6M in 2023, though net income decreased to $125K from $455K. Total liabilities were reduced to $4.9M from $7.3M in 2023.

The company announced the completion of Caprino Management's transition oversight on March 18, 2025, and appointed Billy Robinson as Secretary. Under Caprino Management's leadership, the company successfully reduced total shares outstanding, negotiated with (3)(A)(10) creditors, and divested Canary Travel, AV Rover, and Sinacori Builders. The company has secured OTCIQ approval and plans to expand its Board of Directors while evaluating new growth opportunities.

Positive

• Revenue increased to $4.7M from $4.6M year-over-year
• Total liabilities reduced by $2.4M to $4.9M from $7.3M
• Maintained profitability with $125K net income
• Successfully divested three subsidiaries improving balance sheet
• Secured OTCIQ approval and resolved OTC Markets deficiencies

Negative

• Net income declined 72.5% to $125K from $455K year-over-year

TULSA, Okla., April 1, 2025 /PRNewswire/ -- ParagonX Holdings, Inc. (OTC:CAVR) -- ParagonX released its 2024 earnings report, exceeding expectations by delivering positive net income per share and reducing overall liabilities while it evaluates opportunities for significant future growth and expansion. The company also announced that Caprino Management, LLC completed its transition oversight of ParagonX effective March 18, 2025. The company announced that the Board of Directors had appointed Billy Robinson as Secretary.

"We are immensely grateful for Caprino Management, LLC's instrumental role in our company's transformation over the last year and a half. Under their astute leadership, we have positioned the company for success, reduced total shares outstanding, collaborated with creditors to reduce total liabilities, and achieved positive earnings per share. This marks a significant milestone in our business journey. Bringing Billy Robinson in to evaluate and execute options under consideration by the Board with the transition complete marks another step in a complete turnaround of the business," Kevin V. Cox, ParagonX 's Chairman of the Board, stated.

"Working with and negotiating settlements associated with the company's large (3)(A)(10) creditors is the most visible aspect of our work over the last year and a half. Divesting Canary Travel, AV Rover, and Sinacori Builders in a manner favorable to shareholders involved a tremendous amount of work as well – work which helped us restructure the company's balance sheet and prepare the company for the new opportunities it's evaluating for shareholders," Joe Caprino of Caprino Management and former acting CEO of ParagonX.

"I'm thrilled once again to be working with ParagonX, a company I co-founded many years ago, as it evaluates the various options for the future. We have launched a new website that, when completed, will describe our new directives. We have cleaned up all the deficiencies with OTC Markets and were able to secure OTCIQ approval; multiple opportunities have been identified that are now being evaluated. We plan to expand the Board of Directors and Advisory Board to bring a diverse and new vision to ParagonX. I look forward to helping build our restructured company, reducing debt, and bringing additional revenues to execute our pivoted business model as presented and approved by the Board," stated Billy Robinson, Secretary of ParagonX Holdings, Inc.

• 2024 Revenue was $4.7M versus $4.6M in 2023
• 2024 Net Income was $125K versus $455K in 2023
• 2024 Total Liabilities were $4.9M versus $7.3M in 2023

PARAGONX HOLDINGS:

ParagonX is a holding company with a portfolio of companies in construction and logistics, as outlined in its respective OTC filings. The Company is a Nevada corporation and was founded in the late nineties. The Company website is www.paragonX.com

FORWARD-LOOKING STATEMENTS:

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate" and similar statements of a future or forward-looking nature. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties, and other essential factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to rely on forward-looking statements, which speak only as of the date on which they are made.

The Company undertakes no obligation to update or revise any forward-looking statements for any reason except as required by law.

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SOURCE ParagonX Holdings, Inc.

FAQ

What were ParagonX Holdings (CAVR) key financial results for 2024?

ParagonX reported revenue of $4.7M (up from $4.6M in 2023), net income of $125K (down from $455K), and reduced total liabilities to $4.9M from $7.3M in 2023.

How has ParagonX (CAVR) restructured its business operations in 2024-2025?

ParagonX divested Canary Travel, AV Rover, and Sinacori Builders, reduced total shares outstanding, and negotiated settlements with (3)(A)(10) creditors.

What management changes occurred at ParagonX (CAVR) in March 2025?

Caprino Management completed its transition oversight on March 18, 2025, and Billy Robinson was appointed as Secretary.

What are ParagonX Holdings' (CAVR) immediate future plans?

The company plans to expand its Board of Directors and Advisory Board, evaluate new business opportunities, and execute a pivoted business model while continuing to reduce debt.