MDCE / Infinite Auctions (OTC PINK: MDCE) Delivers 2,158% Revenue Growth from Q2 and 251% Asset Growth Over Last Year

Rhea-AI Summary

Medical Care Technologies/Infinite Auctions (MDCE) reported significant growth in Q3 2024, with total assets reaching $1,358,467, a 251% increase from Q3 2023's $386,920. Revenue surged by 2,158% to $249,011 in Q3 2024 from Q2 2024's $11,035. The company achieved a notable turnaround in net operating income, posting $99,697 in Q3 2024 compared to losses in previous quarters ($19,682 in Q3 2023 and $24,775 in Q2 2024). CEO Marshall Perkins III attributed the performance to disciplined growth and operational excellence.

Positive

• Total assets increased 251% YoY to $1,358,467
• Revenue grew 2,158% QoQ to $249,011
• Net operating income turned positive at $99,697, from previous losses

Negative

• None.

MESA, Ariz., Nov. 21, 2024 /PRNewswire/ -- Medical Care Technologies Inc. / Infinite Auctions LLC. (OTC PINK: MDCE) is pleased to announce significant growth in key financial metrics for the third quarter of 2024. The Company has reported a remarkable increase in total assets, year-over-year, with substantial revenue growth from the previous quarter, and a strong transition to positive net operating income, showcasing a robust business strategy and a resurgence in business demand.

Key Highlights:

1. Year-over-Year Total Asset Growth:
   • Total assets for Q3 2024 reached $1,358,467, representing a 251% increase compared to $386,920 in Q3 2023. This substantial growth underscores the Company's effective asset acquisition and management strategies, positioning it for long-term operational success.
2. Revenue Growth and Profitability:
   • Q3 2024 revenue totaled $249,011, an astounding 2,158% increase from the modest $11,035 achieved in Q2 2024.
   • This sequential improvement reflects a dynamic business rebound and heightened demand during the third quarter.
3. Net Operating Income Turns Positive:
   • Net operating income for Q3 2024 was $99,697, a significant turnaround from a loss of ($19,682) in Q3 2023 and a loss of ($24,775) in Q2 2024.
   • This shift highlights the Company's success in optimizing operational efficiency and enhancing profit margins, signaling a sustainable trajectory toward continued profitability.

Management Commentary:
"This quarter's performance validates our commitment to disciplined growth and operational excellence," said Marshall Perkins III, CEO. "The substantial year-over-year increase in assets and the quarter-to-quarter surge in revenue are direct outcomes of our strategic initiatives. Our transition to positive net operating income is especially rewarding, as it reflects the resilience of our business model and our ability to deliver value to our shareholders."

About Medical Care Technologies Inc. / Infinite Auctions

Medical Care Technologies Inc. / Infinite Auctions is an online auction platform that specializes in high-end sports memorabilia, collectibles, and investment-grade assets. The company's mission is to offer unique, valuable items to collectors worldwide through both public auctions and private sales.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated.

Contact Information:
https://www.infiniteauctions.com
https://twitter.com/bidsellconsign
https://instagram/infiniteauctions
info@infiniteauctions.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/mdce--infinite-auctions-otc-pink-mdce-delivers-2-158-revenue-growth-from-q2-and-251-asset-growth-over-last-year-302312760.html

SOURCE Medical Care Technologies Inc. / Infinite Auctions LLC

FAQ

What was MDCE's revenue growth in Q3 2024 compared to Q2 2024?

MDCE's revenue grew by 2,158% in Q3 2024, reaching $249,011 compared to $11,035 in Q2 2024.

How much did MDCE's total assets grow in Q3 2024 compared to Q3 2023?

MDCE's total assets grew by 251% year-over-year, reaching $1,358,467 in Q3 2024 compared to $386,920 in Q3 2023.

What was MDCE's net operating income in Q3 2024?

MDCE reported a net operating income of $99,697 in Q3 2024, turning positive from losses in previous quarters.