AMERICAN DIVERSIFIED HOLDINGS CORPORATION (OTC: ADHC) ISSUES UPDATE
American Diversified Holdings Corporation (ADHC) has announced the formation of a Scientific Advisory Board to enhance its acquisition and management transition efforts, as detailed in a recent press release dated December 15, 2022. The company has filed its first quarter financial disclosures for the period ending October 31, 2022. Currently, ADHC has 1.028 billion shares outstanding, including 522 million restricted shares. A lawsuit has been filed to cancel 324 million shares, with expectations of a ruling soon. The company is also developing three web-based businesses focused on wellness and lifestyle.
- Formation of a Scientific Advisory Board to identify acquisition targets and new business opportunities.
- Plans to cancel 324 million shares, potentially reducing total outstanding shares to 703 million, improving share value.
- Pending lawsuit for share cancellation may involve legal risks and uncertainties.
- The company currently has a significant number of restricted shares, which could limit market liquidity.
ADHC Forms Scientific Advisors Board (SAB) to Spearhead Acquisition and Management Transition Efforts
Del Mar, CA, Dec. 15, 2022 (GLOBE NEWSWIRE) -- American Diversified Holdings Corporation (OTC: ADHC) issues update recent developments with the company.
ADHC has filed first quarter financial disclosures for the period ending on 10-31-22.
Interested parties can see www.OTCMARKETS.com under ticker ADHC (Disclosures) for the quarterly report.
Currently, ADHC capitalization structure is as follows:
Shares Outstanding: 1.028 billion
Shares Restricted: 522 million
Shares in the Float: 502 million
ADHC has filed suit in The Eight Judicial Circuit Court, Clark County, Nevada case Number A-21-843-670, seeking the cancellation of 324,000,000 (324 MM) shares of common stock. The company believes the Nevada Court will be issuing a ruling allowing the company to cancel those shares in the near future. Upon cancellation of those shares it is estimated that 703mm will be outstanding.
In additional developments, ADHC has formed a Scientific Advisory Board to assist ADHC in a variety of areas including:
targeting acquisition candidates; seeking new executive personnel and identifying new business opportunities for the company. Discussions are in the late stages with leading international visionaries with extensive experience in managing public companies and successfully developing technology.
Shareholders will be informed regularly as events warrant regarding the above developments.
ADHC is a publicly traded holding company trading under the ticker symbol (OTC: ADHC). ADHC is currently developing three web-based businesses. http://www.UniversalWellnessHC.com
(UWHC) is a wellness and lifestyle ecommerce site focused upon providing innovative products, news and the latest health care developments.
Investor Contact:
Ernest Remo
Chairman/CEO
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.
SAFE HARBOR
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 performance or achievements expressed. You should not place undue reliance on these statements since they involve known and unknown risks. Any forward-looking statements reflect the current view with respect to future events and subject to uncertainties.
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