Caduceus Announces Plans for The Buyback & Cancellation of Up To 2 Billion Shares of Common Stock

Rhea-AI Summary

Caduceus Software Systems Corp (CSOC) announced plans to buy back and cancel up to 2 billion shares of its common stock, reducing the total from approximately 2.34 billion to about 339.6 million shares, which is an 85.5% decrease. This move follows a debt settlement of $3,039,880 aimed at strengthening the company's financial position. The buyback is intended to enhance shareholder value and facilitate the company's goal of uplisting to NASDAQ, while also supporting its acquisition of McLovin's Pet Food, a company in the growing pet food market.

Positive

• Buyback and cancellation of 2 billion shares will reduce outstanding shares by 85.5%, potentially increasing EPS and shareholder value.
• The acquisition of McLovin's Pet Food aligns with entry into the recession-resistant pet food and care industry, projected to grow from $207 billion in 2020 to $325 billion by 2028.

Negative

• None.

CHEYENNE, WY / ACCESSWIRE / May 28, 2021 / CADUCEUS SOFTWARE SYSTEMS, CORP. (OTCPINK:CSOC) ("Caduceus" or the "Company"), a publicly traded Wyoming-based holding company focusing on the acquisition of commercialized businesses currently entering the recession proof Pet Food and Pet Care industry with the pending acquisition of McLovin's Pet Food, Inc. is pleased to announce its plans for the buyback and cancellation of up to 2,000,000,000 shares of issued and outstanding common stock.

The Company, on May 10^th, 2021 announced the settlement and write of $ 3,039,880 as part of its ongoing restructuring transactions. With the buyback and cancellation of up to 2 Billion shares of issued and outstanding common, the issued and outstanding common stock would be lowered from approximately 2,339,600,000 shares to approximately 339,600,000 shares. This is an 85.5% reduction in the amount of issued and outstanding common stock of the Company.

"We continue to move forward on many fronts. Debt settlement and Restructuring is going to be beneficial to our Company and Shareholders in the long run. More importantly, this latest action helps lay the groundwork for our long-term plans to up list the Company to trade on the NASDAQ I believe this will make the Company more attractive for both potential acquisitions - among which is our pending acquisition of McLovin's Pet Food, Inc. - and for current shareholders and future investors. " said Alex Chen, CEO of Caduceus Software Systems Corp.

The Company would also like to invite existing and future shareholders to join the Discord channel - hosted by Apollo Assets - where it will be hosting weekly Q&A sessions.

To join future investor Q&As on the company's platform, open a free account with Discord using this link: www.Discord.com

Use this link to join and access the Caduceus / Apollo Assets Discord channel:

https://discord.gg/Y7vN6Qxk

About CADUCEUS SOFTWARE SYSTEMS, CORP.

Caduceus Software Systems Corp is a Wyoming-based holding company focusing on the acquisition of commercialized businesses. The Company is currently entering the recession proof Pet Food and Pet Care industry with the pending acquisition of McLovin's Pet Food, Inc. a California company specialized in the manufacturing and distribution of quality pet foods and accessories. The Pet Food and Pet Care market size was USD 207 Billion in 2020 with a stellar growth of 28.11% market. The industry is expected to grow to USD 325 Billion in 2028 at a CAGR of 5.6%. The Pet Food and Pet Care products include food, hygiene, toys, and others. The Company is traded on the OTC Markets under the trading symbol "CSOC".

For more information:

OTC Markets: (OTC Pink: CSOC)
Corporate Website: https://caduceuscorp.co
Email: info@caduceuscorp.co
Discord: https://discord.gg/Y7vN6Qxk

Twitter: https://twitter.com/caduceuscorp

About McLovin's Pet Food, Inc

McLovin's, Inc. is a California company specialized on the manufacturing and distribution of quality pet foods. We believe in real food. What you'll find in McLovin's is similar to what you'll find in your own grocery cart. In the case of our premium treats, it starts (and ends) with real beef, chicken and salmon. Our products are developed using responsible sourcing and quality is a key part of every single part of our manufacturing process.

Corporate Website: https://mclovinspetfood.com/

Forward-Looking Statements:

Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.

SOURCE: Caduceus Software Systems, Corp.

View source version on accesswire.com:
https://www.accesswire.com/649664/Caduceus-Announces-Plans-for-The-Buyback-Cancellation-of-Up-To-2-Billion-Shares-of-Common-Stock

FAQ

What is Caduceus Software Systems' plan for share buyback?

Caduceus plans to buy back and cancel up to 2 billion shares, reducing total outstanding shares significantly.

How will the share buyback affect CSOC stock price?

The buyback is expected to increase shareholder value and could positively impact CSOC stock price by reducing share dilution.

What is the purpose of buying back shares for Caduceus Software Systems?

The purpose is to improve financial health, support uplisting to NASDAQ, and enhance shareholder value.

When was the share buyback announcement made by Caduceus Software Systems?

The announcement was made on May 28, 2021.

What market is Caduceus Software Systems entering with the acquisition of McLovin's Pet Food?

Caduceus is entering the recession-proof pet food and pet care industry.