Mitesco, Inc.

What they do

Mitesco operates through two wholly owned business units formed in June 2024: Centcore, LLC, which provides data center services including cloud computing and application hosting, and Vero Technology Ventures, LLC, which seeks investment and acquisition opportunities in cloud computing and data center applications. Centcore currently offers managed services through a co-location agreement with a data center in Melbourne, Florida, which has relationships with eight other data centers worldwide. VTV is developing an AI-based sales application for residential real estate and reviewing early-stage cloud vendors.

Revenue drivers

• Centcore data center services — Generates revenue via managed service offerings (MSO) where clients host software in Centcore's data center environment; revenue was $18,700 in Q2 2025 and $3,000 in Q3 2025, with no revenue in Q4 2025 or Q1 2026.
• Vero Technology Ventures (VTV) — Not yet generating revenue; focused on investment and acquisition opportunities and developing an AI-based sales application.

Recent performance

In fiscal 2025, the company reported net income of $498,724, compared to a net loss of $2.5 million in 2024, but operating cash flow was negative at -$701,585. Revenue in 2025 was $38,700, down from $43,700 in 2024, and quarterly revenue declined to zero by Q4 2025 and Q1 2026. As of March 31, 2026, the company had $1,533 in cash, total assets of $31,429, total liabilities of $23.9 million, and shareholder equity of -$23.9 million.

Strategy

Management is building Centcore into a data center services provider, leveraging co-location agreements to rapidly expand computing capacity with minimal expense, and evaluating smaller format data centers (5,000-10,000 sq ft) inside existing facilities to minimize capital expenditure. VTV is tasked with finding early-stage cloud computing vendors and developing its own AI-based application for sales processes, including residential real estate. The company is also relying on per-hour consultants for data center, cyber security, and infrastructure expertise to control costs.

Risks

• No operating history and potential unprofitability — The company has a new business plan, limited revenue, and has never been consistently profitable; it may never operate profitably and could shut down if it fails to raise capital.
• Dependence on customer subscriptions — Success depends on onboarding customers for data storage, hosting, datacenter, and managed services, which is uncertain and requires successful marketing and network building.
• Severe liquidity constraints — With only $1,533 in cash as of March 31, 2026, the company's ability to fund operations and meet obligations is highly uncertain.
• Security and third-party risks — Disruption or breach of security measures at third-party datacenter facilities, cloud platform providers, or service partners could harm the business.

Outlook

Management has not provided specific forward-looking guidance. The company expects to continue developing Centcore's data center services and VTV's AI applications, but faces significant challenges due to limited cash and ongoing losses. There is a possibility of sustaining losses for a long time or never operating profitably.