Net Income Swings Positive to $4.4M as YCRM Undergoes Name Change and Platform Transformation
CHICAGO, IL - April 16, 2025 (NEWMEDIAWIRE) - Yuengling's Ice Cream Corporation (OTC: YCRM), currently undergoing a name and symbol change pending FINRA approval and operating under the brand ReachOut, today announced the filing of its annual report on Form 10-K for the fiscal year ended December 31, 2024, showcasing revenue growth and a dramatic turnaround to profitability.
Financial Highlights:
- Revenue increased 27.4% to $4.81 million, up from $3.78 million in 2023
- Net income reached $4.4 million
- $2.4 million in debt cancelled
- 28.4% decrease in costs of goods sold
- Gross profit surged 145.7% to $2.98 million, up from $1.21 million in 2023
"The traditional MSP model is fundamentally broken and dying -- thousands of fragmented regional providers with slow response times, basic security, and no ability to scale," said Rick Jordan, CEO of YCRM. "We're completely reinventing what's possible in this space. This isn't about incremental improvement. We're building a nationwide brand where none existed before, bringing advanced protection to small and medium businesses that have been completely ignored by the industry. Just like a large wireless brand disrupted telecom for everyday customers, we're bringing that same revolutionary approach to cybersecurity for everyday businesses."
Strategic Transformation
The Company announced it is executing a transformation strategy modeled after the Berkshire Hathaway structure with an Alphabet-style portfolio approach, enabling ReachOut to own, develop, and scale independent technology ventures. It also formally submitted its application with FINRA for a name and ticker symbol change, signaling a clear departure from legacy operations and reflecting its focus on cybersecurity, automation, and digital identity technology. It also formally submitted its application with FINRA for a name and ticker symbol change, signaling a clear departure from legacy operations and reflecting its focus on cybersecurity, automation, and digital identity technology.
"I'm not interested in being just another player in this industry – we're building something completely disruptive," said Rick Jordan, CEO. "The Berkshire model gives us capital efficiency while Alphabet's playbook lets us incubate and scale disruptive technology ventures independently. It's a complete strategic transformation. We're shedding the old skin and emerging as something entirely different: America's first national cybersecurity portfolio brand with a technology holding company structure that can move with the today, not get stuck in a decades old model. This structure gives our shareholders asymmetric upside potential beyond what traditional service businesses could ever deliver."
Future Growth Strategy
The Company has announced it completely reimagined its growth strategy, abandoning the larger acquisition model in favor of a nimble, high-velocity approach that delivers greater integration speed and ROI. This transformation combines holding company economics with disruptive market penetration, creating a dual pathway to shareholder value:
- Capital-Efficient Structure: Operating with a Berkshire Hathaway-inspired capital model and Alphabet-style innovation approach to maximize both stability and upside potential
- Targeted Acquisitions: Focusing on $500K-$2M firms that can be rapidly integrated and scaled 2-5X within 24 months, with 4-8 acquisitions planned annually
- Technology Ventures: Developing independent ventures like TRUSTLESS, a decentralized identity platform creating asymmetric upside beyond traditional service multiples
- AI-Powered Operations: Implementing AI copilots and automation that enable scaling revenue without proportional overhead growth, significantly improving margins
- Media-Driven Growth: Leveraging Rick Jordan's personal brand and globally ranked podcast (reaching 1.6M followers across 70+ countries) and Kevin Harrington's amplified reach to drive organic demand, along with media focused PR and IR
"Big acquisitions are dead money. Our model targets high-potential firms in high-demand low-competition markets we can transform 2-5X in under 24 months through data driven local search capture," said Rick Jordan, CEO. "Combined with ventures like TRUSTLESS, we're not just building a better service company – we're creating a wealth-generation machine with asymmetric upside that traditional players can't touch. This isn't incremental improvement. This is total industry disruption."
The Company's transformation from a traditional MSP to a technology holding company represents one of the most ambitious pivots in the cybersecurity industry. The Company encourages investors and industry watchers to follow the Company's developments as it executes its disruptive strategy and drives toward its planned NASDAQ uplisting.
For media, TV appearance and Investor Relations Contact:
Email: pr@reachoutit.com
Phone: 312-288-8008
About ReachOut
ReachOut is the operating brand of Yuengling’s Ice Cream Corporation (OTC: YCRM), a cybersecurity-first technology company scaling a portfolio of tech ventures through a modern holding company structure. Built around recurring revenue, margin discipline, and AI-driven service delivery, ReachOut is positioning for national expansion, disruptive M&A, and a future on a major U.S. exchange.
Forward-Looking Statements
This press release contains forward-looking statements regarding future events, performance, and financial expectations. These statements are based on current beliefs and assumptions, and are subject to risks and uncertainties—many of which are beyond the Company’s control—that could cause actual results to differ materially from those projected. Factors that may affect results include the Company’s need for capital, changes in regulatory environments, market competition, demand for services, and other risks detailed in the Company’s filings with the Securities and Exchange Commission at www.sec.gov. Forward-looking statements speak only as of the date made, and the Company undertakes no obligation to update them except as required by law.
