Personas Announces Filing of Year-End Financial Statements

Rhea-AI Summary

Personas Social (TSXV: PRSN) has filed its 2024 year-end audited financial statements and MD&A. The company reported a significant turnaround, achieving a net income of $2,678,698 in 2024, compared to a net loss of $164,066 in 2023. This positive result was primarily attributed to a $3,139,211 gain from the sale of its 'Peeks' assets to Mii.TV Inc. Looking ahead to 2025, management plans to focus on growth by marketing its legacy livestreaming service and re-launching its Keek video-sharing platform.

Positive

• Achieved net income of $2.68M in 2024 vs net loss of $164K in 2023
• Generated $3.14M from sale of 'Peeks' assets
• Strategic plans for growth through legacy livestreaming and new Keek platform

Negative

• Net income primarily driven by one-time asset sale rather than operational performance
• Future performance dependent on successful re-launch of Keek platform

Toronto, Ontario--(Newsfile Corp. - May 6, 2025) - Personas Social Incorporated (TSXV: PRSN) (the "Company") announces that the 2024 year end audited consolidated financial statements ("Financial Statements") and management's discussion and analysis ("MD&A") for the year ending ended December 31, 2024, have been filed and are available on SEDAR+ at www.sedarplus.ca.

The Company announces that for the year ended December 31, 2024, the Company achieved net income of $2,678,698 compared to a net loss of $164,066 for the same period for the year ended December 31, 2023, and this net income amount was primarily due to an amount of $3,139,211 that was realized by the Company as a result of the previously announced sale of the Company's 'Peeks' assets to Mii.TV Inc., which is further described in the Company's press release dated December 3, 2024.

In 2025, management of the Company plans to accelerate growth by continuing to market its legacy livestreaming service and by re-launching and marketing its new Keek video-sharing platform in 2025.

Certain information provided in this news release is extracted from the Financial Statements and MD&A of the Company for the year ended December 31, 2024, and should be read in conjunction with them in their entirety. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information.

For further information, please contact:
Personas Social Incorporated
Mark Itwaru
Chairman & Chief Executive Officer
Phone: 647.789.0074
Email: mark@personas.com

Forward-Looking Statements
This news release contains forward-looking statements relating to the expected plans of the Company and the filing of the Financial Statements and MD&A and certain related information therein. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-Looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250956

FAQ

What was Personas Social (PRSN) net income for 2024?

Personas Social reported a net income of $2,678,698 for the year ended December 31, 2024.

How much did Personas Social (PRSN) receive from selling its Peeks assets?

Personas Social received $3,139,211 from the sale of its 'Peeks' assets to Mii.TV Inc.

What are Personas Social's (PRSN) growth plans for 2025?

The company plans to accelerate growth by marketing its legacy livestreaming service and re-launching its Keek video-sharing platform.

How did Personas Social's 2024 performance compare to 2023?

Personas Social improved from a net loss of $164,066 in 2023 to a net income of $2,678,698 in 2024, primarily due to the sale of Peeks assets.