PSYC’s CEO Provides Detailed Update on the State of the Company in Newly Released Podcast Recording

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PSYC Corporation
PSYC Corporation

LAS VEGAS, NV, Jan. 05, 2024 (GLOBE 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 holding company and leading media authority for expanding industries such as medicinal psychedelics, has announced the release of a new video podcast recorded with PSYC CEO, David Flores, on January 2, 2024 for the expressed and intended purpose of providing shareholders with information on the Company’s current state of business.

During the 30+ minute conversation, hosted by Psychedelic Spotlight Director and Producer, Matthew Dunehoo, Mr. Flores candidly details some of the challenges, obstacles, and general uncertainty that PSYC is currently facing as it attempts to move forward as a multimedia-focused company within the psychedelics industry.

The Company wishes to advise those who view and listen to the recording that some of the information, remarks, and opinions covered within it by Mr. Flores may be considered speculative and are covered under the Forward-Looking Disclaimer at the bottom of this press release.

“Given the extremely critical juncture that PSYC is in at present time, I felt it was important to provide our shareholders with as detailed, insightful, and transparent of an update as possible,” said Mr. Flores.

“I understand the frustration and disappointment that many of our shareholders have experienced regarding our lack of communication in recent months, however, the Board and I have attempted to gain as clear and concise of an understanding of all the different factors at play here with the intent of providing the most accurate update possible as provided for in the Company’s video.

I want to be clear in that as of the date of this press release, the Company has not reached any final decisions on any actions that may or may not be taken related to the future operations of PSYC. We continue to diligently assess the viability of a variety of options and solutions that we believe will most reasonably, given the challenges we are faced with, protect the Company, our shareholders, employees, partners, and all other interested parties.

At this time, we can offer no guarantee as to the survivability of PSYC in the weeks and months ahead; only that we are committed to identifying the best and most logical solutions.

I have utilized this recording to the best of my ability to shed as much light and detail on the very specific challenges we are faced with along with my opinions on the value I believe we have developed for the Company over the last 3 ½ years through Psychedelic Spotlight.