MITI Mitesco Inc (PK)

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 5, 2025

 

MITESCO, INC.

(Exact Name of Registrant as Specified in Charter)

 

Nevada		000-53601		87-0496850
(State or another jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

505 Beachland Blvd., Suite 1377
Vero Beach, Florida 32963

(Address of principal executive offices) (Zip Code)

 

(844)383-8689

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 8.01 Other Events

 

On January 5, 2025 the Company issued a press release updating shareholders on its business development activities in it’s Centcore data center services subsidiary. A copy can is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

 

Forward-Looking Statements

 

This Form 8-K contains forward-looking statements. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “proposed,” “intended,” or “continue” or the negative of these terms or other comparable terminology. You should read statements that contain these words carefully, because they discuss our expectations about our future events or state other “forward-looking” information. There may be events in the future that we are not able to accurately predict or control. The forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in such forward-looking statements. We cannot give any guarantee that these plans, intentions, or expectations will be achieved. All forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed in the forward-looking statements as a result of various factors. 

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibits		Description
99.1		Press Release for business update on Centcore data center subsidiary
104		Cover Page Interactive Data File (formatted as Inline XBRL)

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: February 11, 2025	MITESCO, INC.
	By:	/s/ Mack Leath
		Mack Leath
		Chairman and CEO

 

Exhibit 99.1

 

Mitesco Reports on Business Developments in Its Centcore Data Center Services Unit

 

VERO BEACH, FL - February 5, 2025 (NEWMEDIAWIRE) - Mitesco, Inc. (OTC:MITI, “the Company”, www.mitescoinc.com ) announced several new business relationships that represent the progress it has made through its Centcore (www.centcoreusa.com ) business unit. It has also initiated development of its A.I. based sales productivity application dubbed “Robo-Agent”, and we are working with representatives of four (4) of the top residential real estate firms in this effort.

 

Brian Valania, head of sales for Centcore, offered this discussion, “We are now six months into development of a nationwide client base for our Centcore data center services. I’d like to discuss some of the opportunities of size we are working, including: 

·

The hotel industry, with both larger and smaller chains with well recognized brands, where their enterprise level solution is often better delivered with multiple instances sized for the transaction needs of each subsidiary.

·

The financial services industry starting with credit unions and smaller community banks, where cybersecurity is needed for new and growing compliance requirements.

·

In the infrastructure application area, we now offer GIS solutions from ESRI installed and are soliciting business from municipal and government entities who cannot afford to have the technical staff required for this niche application, even though it is used extensively for call dispatch, building departments, law enforcement and utilities.

·

We now have 3-D modeling in support of rapid, small volume prototyping through a relationship with US Machinery, one of our Centcore Partner Program clients.

·

The residential real estate industry, not just for corporate wide data processing, but potentially with our new “Robo-Agent” application set. The new NAR settlement is creating reduced margins, and the need for digital marketing for more efficient lead generation requires a different level of technology than typical agents possess. We believe the integration of various solutions within our Robo-Agent, coupled with A.I. based searches and interviewing can reduce the labor content and increase the number of transactions an agent can handle.

 

With regard to generic data processing services, we compete with AWS, Microsoft Azure and many smaller providers, with lower costs and a very high level of cybersecurity. My background includes extensive relationships with SAP clients, and through those former clients we are learning the cloud computing buying characteristics of some larger players, who can be spending $30,000 to over $100,000 per month. Every company’s CEO and CFO is incentivized to reduce costs and increase their margins and profits. While we initially focused on much smaller targets, we now believe that the larger users are better suited to our cost-effective approaches. As we look ahead, Centcore remains dedicated to expanding its capabilities, enhancing customer experience, and adopting emerging technologies to maintain its competitive edge.”

 

Mack Leath, CEO of Mitesco, commented, “We are working 24x7 to develop the Centcore business, while also adding new business activities. We expect to have a robust in-house IT and software development capabilities by mid-year. This group will drive the Robo-Agent application and provide services for resale to data center clients. We are also exploring data center development with a view toward smaller, purpose-built centers in a network configuration. This may allow us to engage more clients regionally, while adding remote backup between the various centers. Lastly, we continue to believe that infrastructure applications in a cloud configuration makes sense as a longer-term business.”

 

He concluded, “We thank our shareholders for their continued support, and believe the data center business provides a platform for both short term, and longer duration growth going forward.”

 

Contact:

Mitesco Investor Relations
Jimmy Caplan
jimmycaplan@me.com
512.329.9505

Mitesco Media Relations
Rick Eisenberg
eiscom@msn.com
917-691-8934

 

Forward-Looking Statements

This press release contains forward-looking statements, including, but not limited to, statements related to the expected foreclosure of several of our clinics. Words such as “expects,” “anticipates,” “aims,” “projects,” “intends,” “plans,” “believes,” “estimates,” “seeks,” “assumes,” “may,” “should,” “could,” “would,” “foresees,” “forecasts,” “predicts,” “targets,” “commitments,” and variations of such words and similar expressions are intended to identify such forward-looking statements. We caution you that the foregoing may not include all the forward-looking statements made in this press release.

 

These forward-looking statements are based on the Company’s current plans, assumptions, beliefs, and expectations. Forward-looking statements are subject to the occurrence of many events outside of the Company’s control. Actual results and the timing of events may differ materially from those contemplated by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. These risks and uncertainties include, among other things, the ability to obtain additional financing,; the risk that defaults under the Company’s leases could trigger other damages and remedies; the risk that commenced and threatened litigation may result in material judgments against the Company; the risk that foreclosure of the Company’s clinics may adversely affect the Company’s internal programs and the Company’s ability to recruit and retain skilled and motivated personnel, and may be distracting to employees and management; the risk that foreclosure of the Company’s clinics may negatively impact the Company’s business operations and reputation with or ability to serve customers; and other risks and uncertainties included in the Company’s reports on Forms 10-K, 10-Q, and 8-K and in other filings the Company makes with the Securities and Exchange Commission from time to time, available at www.sec.gov.

View the original release on www.newmediawire.com

v3.25.0.1

Cover	Feb. 05, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 05, 2025
Entity File Number	000-53601
Entity Registrant Name	MITESCO, INC.
Entity Central Index Key	0000802257
Entity Tax Identification Number	87-0496850
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	505 Beachland Blvd.
Entity Address, Address Line Two	Suite 1377
Entity Address, City or Town	Vero Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32963
City Area Code	844
Local Phone Number	383-8689
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false

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