Mitesco Expands Growth Strategy with Acquisitions and Senior Exchange Plans

Mitesco, Inc. has announced an expansion of its growth strategy beyond organic efforts to include a focus on acquisitions, along with plans to move to a senior trading exchange. The company also reported progress on its Robo Agent application, an AI-driven sales force automation platform featuring lead-enhancement tools for the financial products industry covering mortgage and insurance, with plans to expand support for financial advisors in retirement planning and personal finance.

CEO Mack Leath emphasized the company's primary goal of increasing return on investment for shareholders through its Vero Technology Ventures arm, which develops enterprise-level software offered exclusively in its data centers. The organic growth plans feature the Robo Agent suite of products aimed at improving sales professional productivity, beginning with residential real estate and advancing to include mortgage and home insurance through lead enhancement features. Leath noted this follows industry consolidation trends toward greater vertical integration of the home buying process.

While prototype versions are currently in testing, the company is also discussing versions aimed at other consumer-oriented financial products, including health insurance and retirement investments. These business-to-consumer transactions could benefit from AI-based coaching for sales professionals, potentially yielding greater results than available without this automation. The company's software efforts are intended to fuel growth in its data center business, targeting larger enterprise-level users representing thousands for any given audience and millions of potential users within industry segments.

Beyond organic growth, Mitesco is actively involved in discussions with investment banking professionals about potential merger candidates. Leath noted that while a small public company might not seem suitable for large acquisition transactions, the robust market for special purpose acquisition companies (SPAC) offers opportunities, with Mitesco potentially providing similar benefits with greater speed and less cost. The company would support transactions complementing its business strategy if targets are considered suitable to potential funding sources.

The company intends to move to a senior exchange as quickly as possible, with a larger revenue base helping meet listing requirements. A larger trading environment may provide greater liquidity to shareholders and allow for faster growth through subsequent transactions. All outlined initiatives aim to increase potential return on investment for shareholders, with expectations that growth efforts may expand the investor base as the company demonstrates potential to become a significant player in the data center business.

These initiatives involve both users of internal software solutions and support for other applications, whether internal to clients or from third parties. While success cannot be guaranteed and there is no assurance suitable funding will be available, the company remains committed to these objectives. Forward-looking statements in the announcement are subject to numerous factors involving substantial known and unknown risks and uncertainties, including the ability to obtain additional financing and potential litigation outcomes, as detailed in the company's reports available at https://www.sec.gov.