Business
Grow Capital, Inc. (GRWC) Announces Milestone Achievement of Recurring Revenue for subsidiary PERA Administrators
Grow Capital, Inc. (GRWC) Announces Milestone Achievement of Recurring Revenue for subsidiary PERA Administrators.
About this update from Grow Capital, Inc.
[{"type":"text","content":"\n\n\n\nGrow Capital, Inc. (GRWC) Announces Milestone Achievement of Recurring Revenue for subsidiary PERA Administrators\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nGrow Capital, Inc. (GRWC) Announces Milestone Achievement of Recurring Revenue for subsidiary PERA Administrators\nPR Newswire\nHENDERSON, Nev., Sept. 26, 2024\n\n\n\nExpectation of Profitability in Q1 2025\nHENDERSON, Nev., Sept. 26, 2024 /PRNewswire/ -- Grow Capital, Inc. (OTCPINK: GRWC), a publicly traded financial services and technology holding company committed to fostering growth through strategic acquisitions and innovation, is pleased to provide an update on its subsidiary, PERA Administrators LLC (\"PERA ADMIN\"), a wholly owned third-party administration company launched in March 2020. Despite the challenges of recent years, including the global pandemic, PERA ADMIN has recently achieved significant operational milestones. Through exceptional leadership and a committed support team, PERA ADMIN is on target to reach break-even operational results, shortly followed by positive cash flow, no later than the close of the first quarter of 2025.\n\n \n \n \n \n \n \n\n \nGrow Capital CEO, Terry Kennedy, commented, \"The PERA ADMIN team has done an extraordinary job acquiring school districts and church plans for 403(b) and 457 accounts over the past year, generating escalating recurring service fees from vendors. With the Company's appointment-setting machine, Advisors Connect, now in full swing, PERA ADMIN is poised for escalating revenue growth as we expect to add complementary revenue from finalized appointments in these districts.\"\nCurrent PERA ADMIN revenue is approaching $80,000 per quarter, with recurring costs, including payroll, fixed at $105,000. As the Company is able to secure the expected revenue increase through appointments, PERA ADMIN expects to report profitable results in 2025.\nWith revenue on a recurring basis now secured in PERA ADMIN, Grow Capital management is pleased to report that all operating subsidiaries—PERA LLC, PERA ADMINIST...