PSYC Provides Shareholders
with Key Corporate Updates and Highlights Objectives for
2023
LAS VEGAS, NV -- January 31, 2023 -- InvestorsHub NewsWire
-- PSYC Corporation (OTC
Pink Market: PSYC) (“PSYC”, “PSYC Corp” or the “Company”),
parent company to Spotlight Media
Corporation (“SMC” or the “wholly owned subsidiary”), a
multimedia leader positioned at the intersection where all things
psychedelics and cannabis converge, is pleased to provide its
shareholders with an overview of recent key corporate updates along
with insight into some of the prime objectives the Company is
outlining for the year ahead.
Sacha G. Hebbert Joins the PSYC Board
As of this month, the Company is proud to have appointed Sacha
G. Hebbert to its Board of Directors alongside PSYC CEO, David
Flores and PSYC COO, Michael Berger. In addition to her appointment
on the Company’s Board, Ms. Hebbert has also been appointed to the
position of Chief Brand Officer (“CBO”) for PSYC Corp and will
continue to maintain her position as Chief Operating Officer of the
Company’s wholly owned subsidiary, Spotlight Media Corporation
(“SMC”).
In her added role as CBO of the parent company, Ms. Hebbert will
work in close collaboration with Mr. Flores and Mr. Berger with the
ongoing development of PSYC’s brand and image as an evolving
publicly traded multimedia leader for the emerging psychedelics
sector, and with the objective of helping to identify opportunities
to strengthen shareholder value.
Additionally, Ms. Hebbert will continue to play a pivotal
leadership role with developing and implementing critical
strategies designed to maximize the value of the Company’s current
psychedelic-focused media assets operated under SMC such as
Psychedelic Spotlight and Bonfire.
“My goal is to ensure that Psychedelic Spotlight continues to
grow in domain authority. We're currently ranked high amongst the
top 5 psychedelic media outlets. By the end of this year, I see us
in the number one position. Those investing in PSYC will be happy
to know that Psychedelic Spotlight is well-positioned as a culture
shaper and media partner to the entire B2C market. We continue to
tap into the mainstreaming of psychedelics and attract a
substantial and curious audience to our platform through
provocative and informative content. We're also building traffic
toward Bonfire, our burgeoning community of psychedelic
facilitators and seekers. These two platforms, together, create the
perfect funnel for service and product providers and consumers in
this growing market. By the end of next quarter, we should see a
lot of action on our Bonfire platform as we align with strategic
partnerships that expand concrete revenue generators.”
Integration of Newly Acquired Media Assets
In September of last year, the Company acquired Technical 420, On The Bids, and Mushroom
Stocks from Technical420, LLC. In the months following the
acquisition of these media assets, the Company dedicated
considerable time to successfully integrating them into SMC as key
revenue drivers for the Company.
These efforts, spearheaded by PSYC Chief Operating Officer and
SMC Chief Revenue Officer, Michael Berger, have resulted in a
steady increase in revenue generation for the Company, which it
claims to be reflected as such in it’s soon-to-be-published 2022
annual disclosure and financials. During Q4 of 2022, the Company
experienced its strongest revenue performance throughout all of
2022, with approximately $60K generated in gross revenue.
Plans through the first two quarters of 2023 are to continue to
implement strategies that are primarily focused on expanding
revenue generation capabilities of both Technical 420 and On The
Bids. The Company contends that in the months following the
acquisition, each of these platforms have emerged as primary
revenue drivers for the Company by way of valuable investor and
public relations-focused services provided to various publicly
traded companies operating in thriving industries such as cannabis
and mining and precious metals and where many companies are
actively seeking the opportunities to enhance their exposure across
the public markets – a key value point offered by Technical 420 and
On The Bids.
Furthermore, in the months ahead, the Company plans to apply
many of the elements that have have driven the success, from a
revenue generation and client satisfaction standpoint, for both
Technical 420 and On The Bids over into Mushroom Stocks, and
particularly as public companies operating in the psychedelics
sector are expected to begin to ramp investor awareness efforts
back up throughout 2023.
PSYC COO Michael Berger said, “During the last quarter, our
primary objectives have been centered around integrating the
business units, finding synergies, and becoming cash flow positive.
Since the completion of the acquisition, our websites have
generated more than $100,000 of revenue and have secured
approximately $75,000 in equity-based agreements. Although market
conditions are challenging, we have been able to penetrate new
verticals in a cost-efficient manner. We remain bullish on the
cannabis and psychedelic industries and believe we have the assets
and resources to achieve our primary objectives. Over the next
year, we plan to establish Spotlight Media Corp as a media leader
in several burgeoning industries and I am confident in our ability
to do so.”
Updates on Bonfire and Psychedelic
Finder
Following more than 5 months of market testing on the current
Bonfire
platform, the Company, along with its partner in the project,
Digital Acorn, Ltd., has opted to revisit the core fundamentals
associated with the platform and with the intent of identifying and
developing a more cost effective operations model for the platform,
in addition to a more robust and refined monetization strategy that
will be more effectively suited for scalability.
The pause on the current iteration of the platform coincides
with the resignation of Jack Bunce this month who, over the last
several months, had overseen the operations of the Bonfire
platform.
In the coming weeks, the Company will work in collaboration with
Digital Acorn to identify and select a new leadership team that
will focus on successfully ushering Bonfire into the next phase of
redevelopment.
The Company contends, however, that it remains cautiously
optimistic as to the future potential of Bonfire citing valuable
data and information it was successful in gathering throughout the
market test phase that, according to the Company, reflects
significant market interest in a platform designed with the intent
of building a community centered around psychedelic
integration.
With regard to Psychedelic Finder, the Company, along with its
partners in the project, Nucleus Holding Inc., remain focused and
committed to building out this platform which will be an online
resource assisting those looking for treatment and care
providers.
The companies, however, have agreed to push the official launch
of the platform back into later in 2023 as they collectively focus
on raising additional capital that will be required to bring some
of the intricate details proposed for the platform to
fruition.
The companies are intent on bringing to market a platform that
goes far beyond what other, similar platforms, operating in this
space currently offer.
The Company plans to continue to provide updates on the progress
of both Bonfire and Psychedelic Finder in the weeks and months
ahead.
Psychedelic Spotlight Continues to Thrive Under a
Leaner, More Efficient Business Model
Coming into 2023, PSYC Management made the collective decision
to implement various strategic updates to the operational structure
of Psychedelic
Spotlight. At the core of these updates, was developing a
cost-effective plan that will continue to promote the growth of the
platform, but under a leaner, and more efficient business
model.
Over the course of 2022, PSYC was successful in establishing
Psychedelic Spotlight as a top 5 media platform focused exclusively
on psychedelics. According to the Company, this top 5 ranking is
based on website performance data and analytics gathered from
Google such as page views, site visits, and engagement, amongst
other metrics.
The Company contends that these metrics play a vital role, as is
typically the case with most media platforms, in the ability to
monetize the platform through advertisement, sponsorship, and
partnership opportunities, and views their current ranking as a
competitive advantage in a marketplace that is becoming
increasingly competitive.
Since implementing many of the aforementioned updates to the
Psychedelic Spotlight business model at the start of the new year,
which includes operating the platform with a leaner budget, the
Company claims that the metrics tied to its website performance
have not dropped off and in fact, the platform continues to hold
steady amongst its top competitors and is even demonstrating growth
in critical areas such as organic search. This, according to the
Company, can be viewed as a demonstration of the success in some of
the strategic and hyper-focused growth initiatives Psychedelic
Spotlight Director of Marketing, Maria Holyanova, has recently
implemented.
The Company plans to continue prioritizing the growth of
Psychedelic Spotlight throughout 2023, and while it cannot offer
any guarantees, the Company remains committed and highly optimistic
in its objective of establishing it as the number one media
platform for the emerging sector of psychedelics in the most
reasonable time frame possible.
Closing Comments from PSYC CEO, David
Flores
“In 2022, we witnessed the culmination of so much of the hard
work we had been focused on over the previous two years in terms of
developing PSYC into a formidable multimedia leader for
psychedelics and other forward-thinking industries such as
cannabis. We managed to grow Psychedelic Spotlight into a top 5
media platform for the growing sector of psychedelics, and we
brought in new media assets that in addition to providing us with
very valuable elements of diversification, have also created a
steady, and much-needed revenue stream for us.
The objective here in 2023 is to take what we successfully
accomplished last year and expand on it. Cracking the top 5 as a
psychedelic’s media platform is a wonderful accomplishment, but
make no mistake about it, we aspire to be number one. Bringing in
assets that are revenue generating is, in my opinion, a huge step
forward for us, but some revenue doesn’t equate to a
viable path to profitability, so we’re laser focused on generating
even more revenue.
From my perspective, all of these are very important
fundamentals that we are meticulously moving into place as part of
what we view as a much bigger objective for PSYC. They’re also
lending to our ability to have real and very serious conversations
related to potential value-driven partnership opportunities and
even capital investment opportunities that we simply couldn’t have
in years past.
Acquiring what is still, in my opinion, the best ticker symbol
for a publicly traded company operating in the psychedelics sector
(PSYC), was done so with the intention of developing PSYC into
something much more than just another multimedia company operating
in the psychedelics space. It was done with the intention of
building PSYC into the multimedia company for
psychedelics. And as we approach the 3-year mark of the
commencement of this journey, this intention, from my perspective,
and based on the fundamentals we have put into place, remains as
attainable as ever.
There are still many challenges that lie ahead for us in order
to earn the trust and credibility within the public markets that we
believe is necessary to drive and deliver maximum shareholder
value. But what I can assure you is that I, along with the newly
formed board of directors and the incredibly talented and dedicated
management team we have assembled for the Company, are working
tirelessly each and every day to develop solutions that are aimed
specifically at overcoming these challenges in the most reasonable
manner and time frame possible.
Thank you to all the PSYC shareholders who continue to stand
alongside us on this journey. We see you. We hear you, and we are
committed to doing everything we can to return the value back to
you that we believe you deserve.
About PSYC Corporation (OTC
Pink Market: PSYC)
At PSYC Corporation we are integrating media, creativity, and
technology to develop and deploy thought-provoking ideas and
solutions that are fostering and transforming the approach to some
of society’s most pressing matters.
PSYC has expressed its intent and commitment to positioning
itself at the forefront of the psychedelic revolution and as a
resource center for discovering and understanding the latest
research and business opportunities surrounding psychedelic
inspired medicines. In conjunction with the FDA’s more open-minded
approach to psychedelic medicines, and as several major U.S. cities
continue to approve the decriminalization of psilocybin, we believe
investors are speculating that the psychedelic boom could be bigger
than that of cannabis. PSYC is your source for current investment
related news specific to psychedelic medicines and cutting-edge
research improving overall health, moving this sector into the
mainstream.
We are dedicated to a forward-thinking approach that embraces
groundbreaking new technology and innovations and through the
vision of business development we intend to continue to evolve into
these unchartered territories as the industry leaders of the
future.
About Spotlight Media Corporation
Spotlight Media Corporation (“SMC”) (www.spotlightmediacorp.com)
is a Nevada Corporation and is a privately held wholly owned
subsidiary of PSYC that was incorporated on February 8, 2022. At
present time, SMC operates as a multimedia service company for the
medicinal psychedelic industry through Psychedelic Spotlight in
addition to the developing community-based platform, Bonfire (f/k/a
“PsycheDev”). However, management intends, but cannot guarantee the
success or profitability, that the business plan for SMC is
to potentially expand beyond the medicinal psychedelic industry by
way of other multimedia-related opportunities within other
niche-style industries like cannabis, health and wellness, and
sports such that SMC can make use of the audience it is
establishing, across its platforms for cross-promotional
opportunities and with the intent of developing a network of
interconnected media-focused platforms.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. In some cases, you can identify forward-looking statements
by the following words: "anticipate," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "ongoing," "plan,"
"potential," "predict," "project," "should," "will," "would," or
the negative of these terms or other comparable terminology,
although not all forward-looking statements contain these words.
Forward-looking statements are not a guarantee of future
performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
information available at the time the statements are made and
involve known and unknown risks, uncertainty and other factors,
including the effect of COVID-19 and the success of the current
vaccine distribution, the adverse effect of the Omicron variant,
that may cause our results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by the forward-looking statements in this
press release. This press release should be considered in light of
all filings of the Company that are disclosed on the OTC
Markets.com website and is not incorporated by reference into such
reports.
Disclaimer: PSYC Corporation does not in any way encourage
or condone the use, purchase, sale or transfer of any illegal
substances, nor do we encourage or condone partaking in any
unlawful activities. We support a harm reduction approach for the
purpose of education and promoting individual and public safety. If
you are choosing to use psychedelic substances, please do so
responsibly.
Corporate Contact:
PSYC Corporation (PSYC)
www.psyccorporation.com
www.spotlightmediacorp.com
(702) 239-1919
info@psyccorporation.com
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