Golden Developing Solutions Announces Conversion and Removal of 320 Million Shares of Common Stock

Rhea-AI Summary

Golden Developing Solutions (OTC PINK:DVLP) announced the conversion of 320 million shares of common stock owned by CEO Stavros Triant into 320,000 shares of preferred stock, effectively reducing the publicly traded common shares. This strategic move aims to strengthen the company's relationship with investors in the specialty pharmacy space, where it has been active in acquiring companies. The firm is finalizing another acquisition with projected revenues of $106 million. Their consolidated revenue has reached $100 million following four acquisitions in 2022, enhancing their service capabilities in Michigan and Florida.

Positive

• Reduction of common shares by converting 320 million into preferred stock, increasing shareholder value.
• Finalizing acquisition with $106 million in projected annual revenue, indicating growth potential.
• Recent acquisitions have consolidated revenue to $100 million, strengthening market presence.

Negative

• None.

FORT LAUDERDALE, FL / ACCESSWIRE / November 17, 2022 / 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 has filed to convert 320 million shares of common stock controlled by the Company's CEO, Stavros Triant, into 320,000 shares of Preferred stock, removing 320 million shares from the pool of publicly traded outstanding common shares.

"We have an aggressive and promising strategy in the specialty pharmacy space, but we recognize that establishing and maintaining a strong relationship with public capital market investors is essential to our long-term success," noted Triant. "We are determined to demonstrate our commitment to that principle, and this shift to reduce the number of common shares in circulation is just one example of how we plan to accomplish that."

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 finalizing another acquisition involving a target with $106 million in annualized revenues. More details will be released soon.

About Golden Developing Solutions

Golden Developing Solutions is a public online health and wellness start-up company with a focus on delivering nutritional supplements including vitamins, tinctures, softgels, and topical application products. 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 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/726665/Golden-Developing-Solutions-Announces-Conversion-and-Removal-of-320-Million-Shares-of-Common-Stock

FAQ

What is the recent announcement by Golden Developing Solutions (DVLP)?

Golden Developing Solutions announced the conversion of 320 million shares of common stock into 320,000 preferred shares, reducing the number of publicly traded common shares.

How much revenue does the latest acquisition target of Golden Developing Solutions generate?

The acquisition target has projected annual revenues of $106 million.

What is the consolidated revenue of Golden Developing Solutions after recent acquisitions?

After recent acquisitions, Golden Developing Solutions has a consolidated revenue of $100 million.

What business strategy is Golden Developing Solutions focusing on?

The company is focusing on acquiring companies within the specialty pharmacy market to enhance its service offerings.