Primior Holdings Inc. (GRLT) Reports $2.67M Revenue, $29.37M in Assets, and 425% EBITDA Growth for 2024

Irvine, California, March 14, 2025 (GLOBE NEWSWIRE) -- Primior Holdings Inc. (OTC: GRLT), a leading luxury real estate development firm, today announced its full-year financial results for 2024, marking a transformative year following the successful merger with Primior Inc. The company reported $2.67 million in total revenue, a 425% increase in EBITDA, a strengthened gross margin of 87%, and a major investment in real estate tokenization technology. With total assets reaching $29.37 million, Primior continues to expand its footprint in luxury real estate development and technology-driven investment strategies.

Primior Holdings Inc. Reports Strong 2024 Performance: $2.67M Revenue and Pioneering Advances in Real Estate Tokenization 

"These results demonstrate Primior's ability to scale operations while improving profitability and strategically investing in the future,” said Johnney Zhang, CEO of Primior Holdings Inc. "Our 425% EBITDA growth reflects strong operational execution, while our investment in Gaia, our asset tokenization platform, is setting the foundation for next-generation real estate investment. We remain focused on enhancing shareholder value through expansion, innovation, and financial strength.”

2024 Financial Performance Highlights

• Total Revenue: $2.67 million, a 4.6% increase from $2.55 million in 2023, driven by development ($1.46M), architecture ($834K), and construction ($370K) income.
• Gross profit margin: $2.32 million, a 39% increase from $1.67 million in 2023, representing an impressive 87% gross profit margin and reflecting a strong competitive advantage.
• Operating expenses: $1.11 million, a 20% reduction from $1.38 million in 2023, due to lower salary compensation and consulting costs, demonstrating a more efficient operation.
• EBITDA: $1,209,597, a 425% increase from $284,478 in 2023, demonstrating strong operational improvements.
• Earnings Per Share (EPS): $0.00031 (EBITDA, and excluding Gaia's $750K investment) and $0.00011 (including Gaia's $750K investment), with significant long-term upside potential given the company's expanded asset base.
• Net income after all other expenses: $417,577, primarily due to interest expenses and investment in Gaia, the company's new venture-a revolutionary tokenization investment platform backed by blockchain and AI.

Balance Sheet Strength & Liquidity

• Cash on Hand: Increased to $689,628, up from $7,317 in 2023, providing more substantial liquidity.
• Total Assets: $29.37 million, a dramatic increase from $877K in 2023, primarily due to $27M in goodwill from the Primior merger.
• Accounts Receivable: Grew to $978K, reflecting stronger project billings and future revenue potential.
• Total Liabilities: Increased to $31.66 million, largely due to a $27M related-party loan connected to the Primior merger, which was used to strengthen the company's asset position and operational capacity.

Gaia: Primior's Strategic Investment in Asset Tokenization

A key highlight of the year was Primior's $750,000 investment in the research and development of Gaia, the company's asset tokenization-as-a-service platform. Gaia aims to revolutionize real estate investing by enabling fractional ownership of assets via blockchain technology, unlocking greater liquidity, transparency, and accessibility in property investment. We plan to continue investing a significant portion of our earnings into the development of Gaia, as we believe tokenization is the future of the market. As Larry Fink, CEO of BlackRock, has stated, "Tokenization is the next generation of markets," and Primior intends to take a leadership position in driving this revolution with Gaia. This platform is poised to disrupt the financial market and fundamentally change how people own real estate in the future.

Investor Outlook: Shares Poised for Higher Valuation

With total assets of $29.37 million and 3.85 billion outstanding common shares, this equates to an approximate asset value of $0.0076 per share-a figure that reflects Primior's strong real estate holdings but not yet its full growth potential. Additionally, earnings per share (EPS) of $0.00031 provide a baseline that does not fully account for anticipated revenue growth from new developments, Gaia's launch, and ongoing operational efficiencies.

Looking Ahead: Expansion & Growth Strategy

Primior's 2025 roadmap includes:

• New real estate development projects, including luxury condos, commercial spaces, and Opportunity Zone properties.
• The beta launch of Gaia introduces a blockchain- and AI-powered tokenization platform to the market for testing.
• Debt optimization strategies to enhance financial stability and maximize shareholder value.

The full financial report is available on Primior's website and via

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Disclosure: This communication contains forward-looking statements regarding expectations, plans, and future performance. These statements are based on current assumptions and involve risks and uncertainties that could cause actual results to differ materially. No forward-looking statement can be guaranteed, and undue reliance should not be placed on them. The company undertakes no obligation to update such statements except as required by law. Factors that may impact results include market conditions, execution of growth strategies, and other risks detailed in company filings.

CONTACT: Andrew Palacios

Primior Holdings

800 735 9973

[email protected]

http://www.primior.com