Business
PSYC Provides Encouraging Update on its Investment in The Conscious Fund
PSYC Provides Encouraging Update on its Investment in The Conscious Fund.
About this update from Psyc Corporation
[{"type":"text","content":"\n LAS VEGAS, NV, June 29, 2022 (GLOBE NEWSWIRE) -- PSYC Corporation (OTCPink: PSYC) (“PSYC” or the “Company”) a media leader for the emerging sector of medicinal psychedelics and authorities behind Psychedelic Spotlight, a top ranking psychedelic news and information platform, is pleased to announce that following the review of information provided to the Company and its audit firm, M&K CPA’s, by The Conscious Fund’s (“TCF”) financial accountants, the Company’s initial $125K investment into TCF’s portfolio of psychedelic-focused companies made in January 2021, has earned an unrealized gain of nearly 30% as of early June 2022. The Company and its audit firm are currently in the process of incorporating this data and information into the audit of the Company’s 2021 financials, which, according to the Company, is moving closer to completion. PSYC CFO Craig Schlesinger touted the results, stating, “Our strategic investment in TCF already provided PSYC with valuable leverage to the dynamic growth of medicinal psychedelic companies during suboptimal macro and micro market conditions. We believe these early results in the face of economic adversity are a mere portend of the sector’s durability and longevity.” “Considering the enduring challenges facing the medicinal psychedelic sector over the past several months, we’re quite encouraged by and pleased with the fact that our TCF investment currently stands at an unrealized gain of nearly 30%,” said PSYC CEO David Flores. “We viewed this as a long-term investment with potential to earn a sizable return for PSYC over the next few years at a rate consistent with the sector’s growth from the very start. Despite the market's insistence on, in our opinion, significantly undervaluing the medicinal psychedelic sector, we remain as optimistic as ever in the long-term growth & value potential present within this space.” Flores concluded, “Strategic investments like TCF demonstrate PSYC’s approach to diversifying our short and long-term assets with the very clear intent of returning maximum value back to our shareholders in the most reasonable and effective time frame possible.”  About PSYC Corporation (OTCPink: PSYC) At PSYC Corporation we are int...