Trucept Releases 2019 Financial Results

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Mar 23, 2020, 08:00 ET

SAN DIEGO, March 23, 2020 /PRNewswire/ -- Trucept Inc. (OTC Pink: TREP) released its annual financial results for year ending December 31^st, 2019, highlighted by an increase in gross profits of $4,626,536 compared to $2,993,714 for the year 2018. Operating income increased to $903,783 in 2019 compared to $573,965 in 2018. "It's indicative of our continued focus to serve our clients with the best possible experience, and our sales & operations offering the needed solutions to help our clients focus on what's really important, growing their business," said Norman Tipton, CEO of Trucept. Net income rose to $7,811,791 from $2,573,965.

"We want to continue down the path of providing excellence, we have a lot of work to do given the times," continued Tipton.

The company recently announced the acquisitions of Afinida Inc. a payroll processing company, and UWS Insurance Corp. offering nation-wide insurance services. The company also plans to file audited financials for calendar years 2018 and 2019 within the next 2 months.

About Trucept Inc.

True solutions, today and tomorrow: Trucept Inc. helps organizations focus on growing their business. With a dedicated suite of tools and services, the company understands and provides solutions in payroll management, insurance services, HR, accounting, compliance, and marketing. For more information, call 858-798-1620 or visit http://truceptservices.com/.

Disclaimer

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.

SOURCE Trucept Inc.