Trucept Announces 381% Increase In Operating Income

SAN DIEGO, May 15, 2023 /PRNewswire/ -- Trucept Inc. (OTC Pink: TREP) today has released its First Quarter Financials. Trucept posted an impressive 381% increase in Operating Income, with Net Income recording a 94% increase versus the same period last year (Q1 2022). The company reported, that as compared to the same period last year, total Operating Expenses were down by 5%. Total revenue declined 8.7% for the quarter. This was attributed to normal cyclical variations in the existing customer base.

CEO Norman Tipton commented: "Our team's hard work and determination have paid off tremendously. We remain focused on sustainable growth and delivering exceptional results for our shareholders, clients, and employees. The reduction in operating expenses and the substantial increase in net income affirm our ability to adapt, innovate, and thrive in a dynamic business environment. Our core business and subsidiaries continue to grow despite challenges in the overall economy".

Trucept, offers professional services that help businesses navigate growth. The company's professional services now encompass the following:

• Data Driven Marketing, Technology, and Accessibility Act compliance Services
• Insurance Offerings and Third-party Administrator (TPA) services
• Full-Service Payroll
• Human Resources and Management
• Employee Benefits Administration
• Accounting Support
• Safety and Risk Management

For additional information, visit  www.trucept.com

About Trucept Inc.
True solutions, today and tomorrow: Trucept Inc. helps organizations focus on growing their business. With a dedicated suite of powerful tools and services designed to put business owners in charge of running their businesses and increasing efficiency, Trucept tackles a variety of important administrative needs and provides a host of value-added advantages. For more information, call 858-798-1620 or visit https://trucept.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.