Golden Developing Solutions Inc (OTC:DVLP) Announces December 2022 Sales Exceed $5.6 Million

Rhea-AI Summary

Golden Developing Solutions Inc. (OTC Pink:DVLP) announced December 2022 sales exceeded $5.6 million, despite challenges in onboarding its largest customer. Anticipating a 35-40% revenue increase upon completion of onboarding, the company is focused on transitioning from four recent acquisitions in the specialty pharmacy sector. A temporary dip in Q1 sales is expected, but a robust rebound is forecasted as transitions finalize. The CEO highlighted the company's strategy to continue acquisitions in 2023, positioning for growth in a promising health and wellness market.

Positive

• December 2022 sales reached $5,658,865.07.
• Anticipates a revenue increase of 35-40% after onboarding the largest customer.
• Recent acquisitions support a consolidated revenue of $100 million.
• Plans to continue acquisitions in the specialty pharmacy market to drive further revenue growth.

Negative

• Temporary dip in sales expected during Q1 as acquisitions are transitioned.
• Delays in audit processes related to acquisitions due to proprietary software issues.

The Company Is Also Expecting An Additional Bump In Revenues Of 35 To 40% Upon Completion of ‘Onboarding' Its Largest Customer

Also Issues Update Of State Of Its Recent Acquisitions Of Revenue Producing Pharmacies

FORT LAUDERDALE, FL / ACCESSWIRE / February 7, 2023 / Golden Developing Solutions Inc. (OTC Pink:DVLP), is a holding company in the Health and Wellness marketplace, with a focus on acquiring companies/pharmacies delivering pharmaceuticals and specialty medicines with rapid delivery services and adequate medical support in the United States today released an update to shareholders and the market, discussing anticipated revenue matters and the state of previously announced acquisitions.

The Company has achieved unaudited December 2022 sales of $5,658,865.07 with the largest customer still to be onboarded. With this addition we are at our targeted run rate from the acquisitions.

It also expects significant increase in revenues after the 4 previously announced acquisitions are fully transitioned. During this final processes of transitioning and onboarding customers we expect a brief dip in Q1 sales followed by a robust rebound and acceleration. After completed, the Company will again begin to acquire more acquisitions in the Specialty Pharmacy market, which also will become another event that should further increase Company revenues, helping it reach its 2023 goals.

Stavros Triant, CEO of DVLP, said: "First of all, we are happy to see December sales exceeded $5.6 million… along with the final customer onboarding would have easily hit our 2022 monthly run rate. We will finish the transitions in Q1 and begin to grow organically, as well as continue our acquisition strategy."

He continued: "We are holding off closing several targeted additional acquisitions until we complete the state, federal, vendor and other rules, regulations and transitions of the 4 we have already acquired. One of the hurdles was that audit work on acquisitions was behind schedule due to proprietary software reporting systems of third parties. We have concluded what we will need to finish these and take appropriate measures if further time is needed to complete."

We will focus on clearing all the hurdles that accompany these types of acquisitions. Because such deals are complicated and that we are doing 4 of these at the same time, its taken a little longer than expected… but we feel that we are on track to garner every single approval required in the very near future."

He concluded: "We are very excited about the business model, the industry, and our future plans. The demand for product and the ability to scale are very promising."

The Company also is updating its website (https://goldendeveloping.com) to include more information for the public, investors and shareholders. Updates will be provided in a timely manner.

About Golden Developing Solutions Inc. (OTC Pink:DVLP):

Golden Developing Solutions is a public online health and wellness start-up company with a focus on delivering 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/738374/Golden-Developing-Solutions-Inc-OTCDVLP-Announces-December-2022-Sales-Exceed-56-Million

FAQ

What were the sales figures for DVLP in December 2022?

Golden Developing Solutions reported sales of $5,658,865.07 for December 2022.

How much revenue increase does DVLP expect from its largest customer onboarding?

DVLP expects a revenue increase of 35-40% upon onboarding its largest customer.

What is the current status of DVLP's recent acquisitions?

DVLP is transitioning four acquisitions, with a temporary dip in Q1 sales expected but forecasts a rebound.

What is the consolidated revenue of DVLP after recent acquisitions?

After the recent acquisitions, DVLP has a consolidated revenue of $100 million.

Will DVLP continue to pursue acquisitions in the pharmacy market?

Yes, DVLP plans to continue its acquisition strategy in the specialty pharmacy market in 2023.