AMERICAN DIVERSIFIED HOLDINGS CORP (OTC: ADHC) REACHES AGREEMENT FOR COMPREHENSIVE TRANSITION OF ALL BUSINESS OPERATIONS 1-31-23 QUARTERLY FINANCIALS FILED; AGREEMENTS REACHED; TO DIVEST OF ALL OPERATIONS, FOR NEW CEO, NEW BOARD AND NEW BUSINESS WITH A MAJOR CBD CONCERN
Del Mar, CA,
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March 20, 2023 06:30 AM Eastern Daylight Time
McapMediaWire -- American Diversified Holdings Corporation (OTC: ADHC) announced today that the Company has filed its quarterly financials ending in 1-31-23. The filing can be found at www.otcmarkets.com under the ticker symbol "ADHC". Additionally plans to divest of all operating business have been initiated in anticipation of a comprehensive transition of all company operations.
Agreements have been reached for a new CEO, a New Advisory Board and a new operating business. Additionally, ADHC management has been advised by litigation counsel that a judicial order cancelling 325 mm shares of common stock is expected imminently.
Parties a have agreed to refrain from publicizing any details of these agreements until formal execution has taken place. It is anticipated that all developments should be consummated in April, 2023.
ADHC has filed suit in The Eight Judicial Circuit Court, Clark County, Nevada case, Number A-21-843-670, seeking the cancellation of 325,000,000 (325 MM) shares of common stock. On January 6, 2023, the court granted the motion for default and will be issuing the formal order soon.
The signed court order granting default judgment is the final legal step before all litigation is resolved.
Currently, ADHC capitalization structure is as follows:
Shares Outstanding: 1.1 billion
Shares Restricted: 600 million
Shares in the Float: 504 million
GLOBAL CBD PET INDUSTRY OVERVIEW:
GLOBAL CBD PET MARKET: $198MM 2022; $248MM 2023; $2 BILLION 2030
ANNUAL GROWTH RATE: 31.8 % COMPOUNDED ANNUAL GROWTH RATE
E-COMMERCE SEGMENT: 42% OF REVENUES
INDICATION: JOINT PAIN, ANXIETY/STRESS, EPILEPSY, GENERAL HEALTH AND WELLNESS
see https://www.grandviewresearch.com/industry-analysis/cannabidiol-pet-market
About ADHC:
American Diversified Holdings Corporation (OTC: ADHC) is a publicly traded holding company trading under the ticker symbol "ADHC".
Investor Contact:
Ernest Remo
Chairman/CEO
EMAIL: ernestremo@san.rr.com
Tel: 858-259-4534
TWITTER: @ADHCManagement. This Twitter page is the only official Twitter page for ADHC.
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and uncertainties that may cause our actual results to be materially different from the performance or achievements expressed. You should not place undue reliance on these statements since they involve known and unknown risks, in some cases, beyond our control.
Contact Details
Ernest Remo
+1 858-259-4534
Company Website
