Grow Capital, Inc. (GRWC) Announces Milestone Achievement of Recurring Revenue for subsidiary PERA Administrators

Rhea-AI Summary

Grow Capital, Inc. (OTCPINK: GRWC), a financial services and technology holding company, has announced significant progress for its subsidiary PERA Administrators PERA ADMIN, launched in March 2020, is expected to reach break-even operational results and positive cash flow by Q1 2025. The company's current revenue is approaching $80,000 per quarter, with recurring costs fixed at $105,000.

PERA ADMIN has successfully acquired school districts and church plans for 403(b) and 457 accounts, generating recurring service fees from vendors. With the support of Advisors Connect, PERA ADMIN anticipates escalating revenue growth. Grow Capital reports that all its operating subsidiaries are progressing towards profitability, coinciding with the company's return to current reporting status on the OTCMarkets Pink tier. Grow Capital aims to clear an in-progress 15c211 by the end of 2024.

Positive

• PERA ADMIN expected to reach break-even and positive cash flow by Q1 2025
• Current quarterly revenue approaching $80,000
• Successful acquisition of school districts and church plans for 403(b) and 457 accounts
• All operating subsidiaries progressing towards profitability
• Company returned to current reporting status on OTCMarkets Pink tier

Negative

• Current quarterly costs ($105,000) still exceed revenue ($80,000)
• Profitability not expected until 2025

Expectation of Profitability in Q1 2025

HENDERSON, Nev., Sept. 26, 2024 /PRNewswire/ -- Grow Capital, Inc. (OTCPINK: GRWC), a publicly traded financial services and technology holding company committed to fostering growth through strategic acquisitions and innovation, is pleased to provide an update on its subsidiary, PERA Administrators LLC ("PERA ADMIN"), a wholly owned third-party administration company launched in March 2020. Despite the challenges of recent years, including the global pandemic, PERA ADMIN has recently achieved significant operational milestones. Through exceptional leadership and a committed support team, PERA ADMIN is on target to reach break-even operational results, shortly followed by positive cash flow, no later than the close of the first quarter of 2025.

Grow Capital CEO, Terry Kennedy, commented, "The PERA ADMIN team has done an extraordinary job acquiring school districts and church plans for 403(b) and 457 accounts over the past year, generating escalating recurring service fees from vendors. With the Company's appointment-setting machine, Advisors Connect, now in full swing, PERA ADMIN is poised for escalating revenue growth as we expect to add complementary revenue from finalized appointments in these districts."

Current PERA ADMIN revenue is approaching $80,000 per quarter, with recurring costs, including payroll, fixed at $105,000. As the Company is able to secure the expected revenue increase through appointments, PERA ADMIN expects to report profitable results in 2025.

With revenue on a recurring basis now secured in PERA ADMIN, Grow Capital management is pleased to report that all operating subsidiaries—PERA LLC, PERA ADMINISTRATORS, LLC, and Bombshell Technologies LLC—are well on the path to profitability. This achievement comes as the Company has returned to current reporting status on the OTCMarkets Pink tier and aims to clear an in-progress 15c211 by the close of 2024.  Driving sales in each subsidiary through 2025 to achieve company wide profitability is the next major milestone for Grow Capital.

For more information on PERA Administrators LLC and to explore their services, please visit their website at https://www.peraadministrators.com/. To learn more about Grow Capital Inc., visit http://www.growcapitalinc.com .

About Grow Capital Inc.

Grow Capital Inc. (OTC: GRWC) is a publicly traded company dedicated to acquiring, launching, and managing businesses that provide innovative solutions in financial technology and services. Through its strategic subsidiaries, Grow Capital Inc. is committed to driving shareholder value and fostering sustainable growth.

Media Contact:
Terry Kennedy, CEO
Grow Capital Inc.
2485 Village View Drive, Ste. 190
Henderson, NV 89074
Phone: 702-272-2019
Stay updated with our progress: https://www.growcapitalinc.com/

Forward Looking Statements Disclaimer: This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Grow Capital, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such forward-looking statements include the words "returning," "looking forward," "seek", "grow", "plan" and other expressions of a forward-looking nature. More information about the potential factors that could affect the business and financial results is and will be included in Grow Capital, Inc.'s filings with the OTC Markets, and/or posted on the Company's website.

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SOURCE Grow Capital Inc.

FAQ

When is PERA Administrators expected to achieve profitability according to GRWC?

According to Grow Capital Inc. (GRWC), PERA Administrators is expected to achieve profitability in Q1 2025.

What is the current quarterly revenue of PERA Administrators as reported by GRWC?

Grow Capital Inc. (GRWC) reported that PERA Administrators 's current revenue is approaching $80,000 per quarter.

What are the recurring costs for PERA Administrators as stated by GRWC?

According to Grow Capital Inc. (GRWC), PERA Administrators 's recurring costs, including payroll, are fixed at $105,000 per quarter.

When does GRWC aim to clear its in-progress 15c211?

Grow Capital Inc. (GRWC) aims to clear its in-progress 15c211 by the close of 2024.