Grow Capital Inc (GRWC) Continues Steady Growth Despite The Pandemic: Issues Management Update To Shareholders
Company Intends To Continue M & A Activity In FinTech Sector; To Increase Assets And Resulting Revenues; Company Also Engages Experienced Public Relations Firm to Widen Visibility
HENDERSON, Nev., May 4, 2021 /PRNewswire/ -- Grow Capital, Inc (OTCQB: GRWC) is a publicly-traded software, technology and financial services holding company that identifies, acquires and incubates promising companies in the financial technology sector ("FinTech"), and provides its shareholders access to investment opportunities in small and medium-sized businesses that are uniquely positioned for rapid growth, today released an update to shareholders detailing the milestones that the Company and it's subsidiaries achieved in this past year.
Terry Kennedy, CEO of Grow Capital Inc. said: "This past year the Company took a number of actions to evolve and fully disengage from business operations of former management in order to create a solid foundation from which to build out the new vision for the Company. These milestones have reimagined the Company's path, substantially increased revenues through an aggressive approach to acquisitions and have enabled the Company to pursue further growth opportunities…… all for the benefit of our shareholders."
Kennedy continued: "As a result we've seen an impressive increase in our reported revenues quarter over quarter," said Kennedy. "I attribute this achievement to adhering to our model of staying in our niche and expanding and investing in our companies so we can further corner the space where financial planning and technology meet."
In 2020 we further focused on building infrastructure, size and increasing revenue for our two key operating subsidiaries: PERA (Public Employee Retirement Assistance, LLC) and Bombshell Technologies, Inc.
PERA is a third-party marketing organization that facilitates meetings between state-licensed representatives and public employees who have individual retirement related questions. PERA currently works with employees of school districts, colleges, universities, and other public institutions nationwide. Every state licensed representative is appointed with one or more of the institution's approved vendors.
PERA is the driving force behind connecting retirement planning professionals and public employees who want help during school and government building closures. PERA serves major insurance and financial service companies and will expand its client base through this new ownership.
PERA has over 5,000 trusted advisors in its network to help public employees and has successfully set nearly half a million appointments for its clients since its inception.
"PERA was the second fintech acquisition for GRWC as we execute our long-term plan," added Kennedy. "PERA has been increasingly impactful in the public employee sector of financial and retirement planning during COVID 19 as everyone is working from home and only taking online meetings. PERA's optimized use of technology has helped employees achieve their goals of getting retirement ready and has kept agents in business. PERA has proven itself to be invaluable to the financial services industry and fits perfectly into our FinTech group."
Bombshell Technologies, a wholly owned subsidiary of the Company, is a premier software development service provider with a focus on the financial services sector. Bombshell Technologies provides software to various financial services organizations and with a rapid growth strategy consisting of innovative industry-specific solutions for sales teams and management.
Bombshell Technologies has operations in both Nevada and Louisiana. Bombshell Technologies provides software to several massive financial services organizations and leads the way on innovative industry-specific solutions for sales teams and management.
Bombshell's current software suite delivers customized back office compliance, sophisticated multi-pay commission processing, and a revolutionized new client application submission system, along with digital engagement marketing services centric to financial services.
"Bombshell's team and business model is ripe for growth," said Chairman of GRWC, James Olson, at the time of the original acquisition of Bombshell in 2019. "We are now formally a FinTech holding company, following the exact plan we've outlined, demonstrating to stakeholders that our Board follows through on its plans and commitments."
CEO Terry Kennedy added: "We're proud of connecting hard working public employees to retirement planning and financial service specialists so they can get the services they need to better prepare for their future. This pandemic proved that during crisis, Americans give more thought to their own futures - a fact that's proven profitable for PERA. Bombshell Technologies is also reporting an increase in activity adding three new clients this year, as well as new employees and an updated billing system. I expect to see Bombshell continue to become a highly trusted technology company servicing financial services professionals and providing software to empower companies in the financial planning space."
He concluded: "During the pandemic we've strategically avoided generating press releases in respect to the world wide pandemic that rocked families, sent the stock market into an unpredictable frenzy and required our nation's attention, but now that the worst is hopefully behind us, we are committed to communicating our progress with our stakeholders. Shareholders should stay tuned for further press releases, as our operating plan continues to unfold.
In that light, the Company has recently retained a highly regarded investor relations firm, OTC PR Group headed by Douglas Baker. His team will help us share the many exciting things we have accomplished to date, and that we and that we have on the horizon in order to broaden the Company's investor base, market presence and visibility on social and digital media and communicate GRWC's message and vision to a wider audience as the Company expands its operations and achievements throughout 2021.
The Company recently filed an 8K regarding this, which can be seen at: https://www.otcmarkets.com/filing/html?id=14886218&guid=pO-nUnzRuvAyyth
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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 "vision," "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, Securities and Exchange Commission and/or posted on the company's website.
SOURCE Grow Capital, Inc
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