DVLP Announces Completion of Conversion and Removal of 320 Million Shares of Common Stock

Rhea-AI Summary

Golden Developing Solutions Inc. (OTC PINK:DVLP) has successfully completed the conversion of 320 million shares of common stock into 320,000 shares of preferred stock, significantly reducing the number of common shares in circulation. This strategic move, announced previously in November, aligns with the company's roll-up strategy in the specialty pharmacy sector following multiple acquisitions. The company aims to enhance shareholder value and has projected consolidated revenue of $100 million from its recent specialty pharmacy acquisitions in Michigan and Florida. Management will provide further details on upcoming acquisitions soon.

Positive

• Completed conversion of 320 million common shares to preferred stock, reducing share circulation.
• Recent acquisitions in the specialty pharmacy sector, enhancing market presence and projected revenue of $100 million.
• Commitment to shareholder value emphasized by management.

Negative

• None.

FORT LAUDERDALE, FL / ACCESSWIRE / January 18, 2023 / Golden Developing Solutions Inc. (OTC PINK:DVLP), a holding company in the Health and Wellness marketplace that focuses on acquiring companies delivering pharmaceuticals and specialty medicines with rapid delivery services and adequate medical support in the United States, is pleased to announce that the Company's pledge to remove 320 million shares from circulation through the conversion of shares of common stock controlled by the Company's CEO, Stavros Triant, into 320,000 shares of Preferred stock, has been approved and completed.

"We announced this move back in November, and we are pleased to report that we have completed this process and the total number of common shares trading actively in the market has now been sharply reduced," stated Stavros Triant, CEO of DVLP.

Management notes this decision follows a string of recent acquisitions as part of the Company's roll-up strategy in the Specialty Pharmacy marketplace. The Company is in the process of reviewing other acquisitions in the specialty pharmacy industry. More details will be released soon.

Triant added, "As we have noted, this share reduction represents one of many moves we plan to make demonstrating our commitment to our shareholders and to the principle that our relationship with our common shareholders is our most important asset driving future growth potential."

About Golden Developing Solutions

Golden Developing Solutions is a public online health and wellness start-up company. Its pharmaceutical division specializes in providing specialty medicine with rapid delivery services and adequate medical support in the United State. The recent 4 specialty pharmacy acquisitions in 2022 have capacitated the company's service offerings to the State of Michigan and Florida with a projected consolidated revenue of $100M.

We aim to position ourselves to build shareholder value by setting the highest standards in service, reliability, and safety in our rapidly growing industry.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced herein are not incorporated into this press release.

Corporate Contact:

We encourage our shareholders to follow our Twitter account @OTC_DVLP
Stavros Triant
stavros@goldendeveloping.com
Go to: www.goldendeveloping.com

SOURCE: Golden Developing Solutions, Inc

View source version on accesswire.com:
https://www.accesswire.com/735684/DVLP-Announces-Completion-of-Conversion-and-Removal-of-320-Million-Shares-of-Common-Stock

FAQ

What recent action did Golden Developing Solutions (DVLP) take regarding its shares?

Golden Developing Solutions completed the conversion of 320 million shares of common stock into 320,000 shares of preferred stock.

What is the projected revenue for Golden Developing Solutions after its recent acquisitions?

The company projects a consolidated revenue of $100 million from its recent specialty pharmacy acquisitions.

What industry is Golden Developing Solutions focusing on with its acquisitions?

The company is focusing on the specialty pharmacy marketplace with its recent acquisitions.

When did Golden Developing Solutions announce its share conversion plan?

The share conversion plan was announced in November prior to its completion in January 2023.

What is the stock symbol for Golden Developing Solutions?

The stock symbol for Golden Developing Solutions is DVLP.