Mitesco Expands Growth Strategy with AI Platform Development and Acquisition Focus

Mitesco, Inc. has announced an expanded growth strategy that includes both organic development of its artificial intelligence platform and potential strategic acquisitions, with the company also outlining plans to move to a senior trading exchange. The technology company, which trades on the OTC-QB market under the symbol MITI, is focusing on increasing return on investment for shareholders through these initiatives.

The company reported progress on its "Robo Agent" application, an AI-driven sales force automation platform that currently features lead-enhancement tools for the mortgage and insurance industries. According to CEO Mack Leath, the company plans to expand support for financial advisors in retirement planning and personal finance. "Our organic growth plans feature our Robo Agent suite of products, generally aimed at improving the productivity of sales professionals, beginning with residential real estate, and then advancing related products to include mortgage and home insurance through a robust lead enhancement feature," Leath stated.

Leath explained that the company's approach follows industry consolidation trends toward greater vertical integration in the home buying process. The company is also developing versions of its platform for 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 better results than traditional methods.

Beyond organic growth, Mitesco is actively pursuing acquisition opportunities. Leath noted that while the company may appear small for large acquisition transactions, it can offer benefits similar to special purpose acquisition companies (SPACs) with greater speed and lower costs. "If the target is considered suitable to the potential funding sources, there is no reason that we would not support a transaction which complements our business strategy," Leath said. The company's software development efforts are intended to fuel growth in its Centcore data center division, targeting enterprise-level users with thousands of potential customers within specific industries.

The company has also expressed its intention to move to a senior exchange, with Leath noting that a larger revenue base would help meet listing requirements. "A larger trading environment may also provide greater liquidity to our shareholders and allow for even faster growth through subsequent transactions," he added. The company's growth strategy centers around its Vero Technology Ventures arm, which focuses on developing enterprise-level software offered exclusively through Mitesco's data centers.

Leath emphasized that all initiatives are intended to increase potential return on investment for shareholders. While acknowledging that success cannot be guaranteed and funding availability is uncertain, the company remains committed to its objectives. "We expect that as a result of these growth efforts, our investor base may increase in size, as they see our potential to become a significant player in the data center business," Leath concluded. The company's forward-looking statements and additional information are available through its SEC filings at https://www.sec.gov.