ParagonX Holdings, Inc. Maintains Pro tability, Improves Balance Sheet, and Continues Work with Creditors as the Transition Team Completes its Work

PR Newswire

TULSA, Okla., April 1, 2025

TULSA, Okla., April 1, 2025 /PRNewswire/ -- ParagonX Holdings, Inc. (OTC:CAVR) -- ParagonX released its 2024 earnings report, exceeding expectations by delivering positive net income per share and reducing overall liabilities while it evaluates opportunities for significant future growth and expansion. The company also announced that Caprino Management, LLC completed its transition oversight of ParagonX e ective March 18, 2025. The company announced that the Board of Directors had appointed Billy Robinson as Secretary.

"We are immensely grateful for Caprino Management, LLC's instrumental role in our company's transformation over the last year and a half. Under their astute leadership, we have positioned the company for success, reduced total shares outstanding, collaborated with creditors to reduce total liabilities, and achieved positive earnings per share. This marks a significant milestone in our business journey. Bringing Billy Robinson in to evaluate and execute options under consideration by the Board with the transition complete marks another step in a complete turnaround of the business," Kevin V. Cox, ParagonX 's Chairman of the Board, stated.

"Working with and negotiating settlements associated with the company's large (3)$(A)$(10) creditors is the most visible aspect of our work over the last year and a half. Divesting Canary Travel, AV Rover, and Sinacori Builders in a manner favorable to shareholders involved a tremendous amount of work as well -- work which helped us restructure the company's balance sheet and prepare the company for the new opportunities it's evaluating for shareholders," Joe Caprino of Caprino Management and former acting CEO of ParagonX.

"I'm thrilled once again to be working with ParagonX, a company I co-founded many years ago, as it evaluates the various options for the future. We have launched a new website that, when completed, will describe our new directives. We have cleaned up all the deficiencies with OTC Markets and were able to secure OTCIQ approval; multiple opportunities have been identified that are now being evaluated. We plan to expand the Board of Directors and Advisory Board to bring a diverse and new vision to ParagonX. I look forward to helping build our restructured company, reducing debt, and bringing additional revenues to execute our pivoted business model as presented and approved by the Board," stated Billy Robinson, Secretary of ParagonX Holdings, Inc.

   -- 2024 Revenue was $4.7M versus $4.6M in 2023 
 
   -- 2024 Net Income was $125K versus $455K in 2023 
 
   -- 2024 Total Liabilities were $4.9M versus $7.3M in 2023 

PARAGONX HOLDINGS:

ParagonX is a holding company with a portfolio of companies in construction and logistics, as outlined in its respective OTC lings. The Company is a Nevada corporation and was founded in the late nineties. The Company website is www.paragonX.com

FORWARD-LOOKING STATEMENTS:

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate" and similar statements of a future or forward-looking nature. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties, and other essential factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to rely on forward-looking statements, which speak only as of the date on which they are made.

The Company undertakes no obligation to update or revise any forward-looking statements for any reason except as required by law.

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SOURCE ParagonX Holdings, Inc.

(END) Dow Jones Newswires

April 01, 2025 08:59 ET (12:59 GMT)