ADM Endeavors, Inc. (OTCQB: ADMQ) Announces Acquisition of New Commercial Building

Rhea-AI Summary

ADM Endeavors, Inc. (OTCQB: ADMQ) has entered into a contract for a new commercial building, with a closing date set for July 15 or sooner. The company also signed a five-year lease for the entire building, effective upon closing. This acquisition addresses delays encountered in Fort Worth's planned development process, ensuring timely accommodation for a key tenant. CEO Marc Johnson noted that this transaction, while outside the company's core operations, allows for potential profit and tax benefits through depreciation.

Positive

• Acquisition of new commercial building enhances operational flexibility.
• Five-year lease agreement ensures steady rental income.
• Transaction offers potential tax benefits through property depreciation.

Negative

• Delays in Fort Worth development process could indicate project management challenges.

ADM Endeavors, Inc. (OTCQB: ADMQ) announces it has a new commercial building under contract. The project closing date for the property is July 15^th or sooner. We have also inked a five-year lease agreement for the entire building starting upon closing date.

ADMQ Acquires New Commercial Building (Graphic: Business Wire)

This tenant was to be part of our building project in Fort Worth. Due to the delays resulting from The City of Fort Worth planned development process and the tenant’s immediate needs we could not wait. The building was found to correct the situation and create a positive transaction for ADMQ and the tenant.

Marc Johnson said “Transactions like this are not part of our core business, but when an opportunity pops up where you can make money and reduce corporate tax through depreciation the business model has to adapt.”

About ADMQ: Since 2010, our wholly owned subsidiary, Just Right Products, Inc., has been consistently increasing sales, with sales topping $5.1 million in 2020. The Company sells “Anything With A Logo” on its website, www.JustRightProducts.com, developing products ranging from unique business cards to coffee cups, T-shirts to boots, with tens of thousands of other unique products from which to select. Just Right Products, Inc. operates a diverse vertical integrated business in the Dallas/Fort Worth area, consisting of a retail sales division, screen print production, embroidery production, digital production, import wholesale sourcing, and uniforms.

• www.admendeavors.com
• www.fwpromo.com
• www.justrightproducts.com
• www.uscbdlogo.com
• www.facebook.com/groups/admqshareholders
• https://fortworth.academicoutfitters.com/

Forward Looking Statement:

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements" that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the retail industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in our filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210610005861/en/

FAQ

What is the significance of ADMQ's new commercial building acquisition?

The acquisition provides operational flexibility and addresses tenant needs due to previous development delays.

When is the closing date for ADMQ's new property?

The closing date for the new commercial building is set for July 15, or sooner.

How long is the lease agreement for the new building signed by ADMQ?

ADMQ has signed a five-year lease agreement for the entire building.

What potential financial benefits does ADMQ expect from the new building?

The acquisition could provide potential profits and tax benefits through depreciation.