VeeMost Technologies Expands Growth Strategy, Provides Update on FINRA Approval & Strategic Direction
VeeMost Technologies (OTC: GDVM) has announced significant strategic updates to its growth initiatives. The company has decided to redirect funds originally planned for a Dallas-based acquisition, citing potential excessive shareholder dilution and unfavorable financing terms. Instead, VeeMost is focusing on internal growth through several key initiatives.
The company has made progress in:
- Initiating GSA Schedule approval process
- Winning new E-Rate contracts in the education sector
- Securing contracts with a defense sector company
- Forming partnerships with Vertiv, Nutanix, and Lenovo
- Launching the VeeStore platform
Additionally, VeeMost is in the final stages of its FINRA approval process, addressing legacy SEC reporting gaps from 2006. The completion will enable corporate name change, ticker change, and implementation of the new CUSIP, allowing for key board appointments and improved market standing.
VeeMost Technologies (OTC: GDVM) ha annunciato aggiornamenti strategici significativi alle sue iniziative di crescita. L'azienda ha deciso di reindirizzare i fondi originariamente previsti per un'acquisizione a Dallas, citando un potenziale eccessivo diluizione degli azionisti e condizioni di finanziamento sfavorevoli. Invece, VeeMost si sta concentrando sulla crescita interna attraverso diverse iniziative chiave.
L'azienda ha fatto progressi in:
- Avvio del processo di approvazione del GSA Schedule
- Vittoria di nuovi contratti E-Rate nel settore dell'istruzione
- Acquisizione di contratti con un'azienda del settore della difesa
- Formazione di partnership con Vertiv, Nutanix e Lenovo
- Lancio della piattaforma VeeStore
Inoltre, VeeMost è nelle fasi finali del suo processo di approvazione FINRA, affrontando le lacune nei report SEC risalenti al 2006. Il completamento consentirà il cambiamento del nome aziendale, il cambiamento del ticker e l'implementazione del nuovo CUSIP, permettendo importanti nomine nel consiglio e un miglioramento della posizione di mercato.
VeeMost Technologies (OTC: GDVM) ha anunciado actualizaciones estratégicas significativas para sus iniciativas de crecimiento. La empresa ha decidido redirigir fondos originalmente planeados para una adquisición en Dallas, citando una posible dilución excesiva de los accionistas y condiciones de financiamiento desfavorables. En cambio, VeeMost se está enfocando en el crecimiento interno a través de varias iniciativas clave.
La empresa ha avanzado en:
- Iniciar el proceso de aprobación del GSA Schedule
- Ganar nuevos contratos E-Rate en el sector educativo
- Asegurar contratos con una empresa del sector de defensa
- Formar asociaciones con Vertiv, Nutanix y Lenovo
- Lanzar la plataforma VeeStore
Además, VeeMost se encuentra en las etapas finales de su proceso de aprobación por parte de la FINRA, abordando las lagunas en los informes de la SEC desde 2006. La finalización permitirá el cambio de nombre corporativo, el cambio de ticker y la implementación del nuevo CUSIP, lo que permitirá nombramientos clave en la junta y una mejora en la posición en el mercado.
VeeMost Technologies (OTC: GDVM)는 성장 이니셔티브에 대한 중요한 전략적 업데이트를 발표했습니다. 회사는 달라스 기반의 인수에 원래 계획된 자금을 재배치하기로 결정했으며, 이는 잠재적인 과도한 주주 희석과 불리한 금융 조건을 이유로 들었습니다. 대신, VeeMost는 여러 핵심 이니셔티브를 통해 내부 성장을 집중하고 있습니다.
회사는 다음과 같은 진전을 이루었습니다:
- GSA 일정 승인 프로세스 시작
- 교육 부문에서 새로운 E-Rate 계약 수주
- 방산 부문 회사와 계약 확보
- Vertiv, Nutanix 및 Lenovo와의 파트너십 형성
- VeeStore 플랫폼 출시
또한, VeeMost는 2006년의 SEC 보고서 격차를 해결하고 있는 FINRA 승인 프로세스의 마지막 단계에 있습니다. 완료되면 기업 이름 변경, 티커 변경 및 새로운 CUSIP 구현이 가능해져 주요 이사 임명과 시장 지위 향상이 이루어질 것입니다.
VeeMost Technologies (OTC: GDVM) a annoncé des mises à jour stratégiques significatives pour ses initiatives de croissance. L'entreprise a décidé de rediriger des fonds initialement prévus pour une acquisition basée à Dallas, citant une dilution potentiellement excessive des actionnaires et des conditions de financement défavorables. Au lieu de cela, VeeMost se concentre sur la croissance interne à travers plusieurs initiatives clés.
L'entreprise a progressé dans:
- Le lancement du processus d'approbation du GSA Schedule
- La victoire de nouveaux contrats E-Rate dans le secteur de l'éducation
- La sécurisation de contrats avec une entreprise du secteur de la défense
- La formation de partenariats avec Vertiv, Nutanix et Lenovo
- Le lancement de la plateforme VeeStore
De plus, VeeMost est dans les étapes finales de son processus d'approbation par la FINRA, s'attaquant aux lacunes des rapports SEC datant de 2006. L'achèvement permettra un changement de nom d'entreprise, un changement de ticker et la mise en œuvre du nouveau CUSIP, permettant des nominations clés au conseil et une amélioration de la position sur le marché.
VeeMost Technologies (OTC: GDVM) hat bedeutende strategische Aktualisierungen seiner Wachstumsinitiativen angekündigt. Das Unternehmen hat beschlossen, Mittel, die ursprünglich für eine Übernahme in Dallas vorgesehen waren, umzuleiten, da eine potenziell übermäßige Verwässerung der Aktionäre und ungünstige Finanzierungsbedingungen befürchtet werden. Stattdessen konzentriert sich VeeMost auf internes Wachstum durch mehrere wichtige Initiativen.
Das Unternehmen hat Fortschritte gemacht in:
- Einleitung des Genehmigungsprozesses für den GSA Schedule
- Gewinn neuer E-Rate-Verträge im Bildungssektor
- Sicherung von Verträgen mit einem Unternehmen aus dem Verteidigungssektor
- Bildung von Partnerschaften mit Vertiv, Nutanix und Lenovo
- Einführung der VeeStore-Plattform
Darüber hinaus befindet sich VeeMost in der Endphase seines FINRA-Genehmigungsprozesses, um Lücken in den SEC-Berichten aus dem Jahr 2006 zu schließen. Der Abschluss wird eine Änderung des Unternehmensnamens, eine Änderung des Tickers und die Implementierung der neuen CUSIP ermöglichen, was wichtige Ernennungen im Vorstand und eine Verbesserung der Marktstellung zur Folge haben wird.
- Strategic decision to avoid dilutive financing preserves shareholder value
- Secured new contracts in defense sector
- Expanded vendor partnerships with major tech companies (Vertiv, Nutanix, Lenovo)
- Near completion of FINRA approval process
- Progress in GSA Schedule approval process
- Canceled planned acquisition of Dallas-based company
- Legacy SEC reporting gaps from 2006 required resolution
- Challenges in securing favorable financing terms
RED BANK, NEW JERSEY, March 14, 2025 (GLOBE NEWSWIRE) -- VeeMost Technologies Inc. (OTC: $GDVM) is pleased to provide key updates on its strategic growth initiatives, government contracting progress, and corporate updates that reflect the company’s commitment to delivering long-term value for shareholders.
Strategic Decision to Prioritize Internal Growth Over Acquisition
As part of its long-term growth strategy, VeeMost Technologies made a strategic decision to redirect funds originally earmarked for the acquisition of a Dallas-based company into strengthening the company’s internal operations.
After careful evaluation, we determined that proceeding with the acquisition was not in the best financial interest of VeeMost at this time. While the acquisition initially aligned with our expansion plans, further due diligence revealed challenges in securing favorable financing terms.
Although we received offers for financing, a thorough review of the proposed terms revealed that they could have resulted in excessive shareholder dilution and unfavorable financing conditions. Many of these offers came from firms specializing in high-risk funding structures, which could have placed undue financial strain on the company and negatively impacted shareholder value. Rather than pursuing an acquisition under these terms, VeeMost made the strategic decision to reinvest capital into core growth areas, ensuring long-term value creation while protecting shareholder equity.
While this particular acquisition was not the right fit at this time, VeeMost remains actively engaged in evaluating other strategic acquisition opportunities. The company continues to seek financially viable businesses that align with its growth strategy and can be acquired under terms that are fiscally responsible and beneficial to shareholders. Management remains committed to pursuing opportunities that strengthen VeeMost’s market position while maintaining financial discipline and protecting long-term value.
Instead, VeeMost channeled resources into high-growth areas, including:
✅Expanding government contracting capabilities by initiating the GSA Schedule approval process with Government Services Exchange (GSE)
✅Winning new E-Rate contracts, positioning the company for continued success in the education sector
✅Securing contracts with a company serving the defense sector, expanding its cybersecurity and IT solutions footprint
✅Forming new vendor partnerships with Vertiv, Nutanix, Lenovo, and more, enhancing its technology offerings
✅Marketing and positioning the newly launched VeeStore platform (store.veemost.com) as a trusted technology store for organizations.
This decision fortifies VeeMost’s financial future while ensuring that resources are allocated toward revenue-generating initiatives that enhance shareholder value.
FINRA Approval Process Nearing Completion
VeeMost Technologies is also pleased to provide an update on its corporate restructuring process with FINRA. The company has worked diligently to resolve legacy SEC reporting gaps dating back to 2006, and other key requirements before FINRA could finalize the company name change, ticker change, and implementation of the newly approved CUSIP.
With these compliance matters now largely addressed, VeeMost is in the final stages of securing FINRA approval.
“The process has been meticulous, but we are confident that we are now very close to completing this transition,” said Melvin Ejiogu, President of VeeMost Technologies. “Once finalized, these changes will provide greater transparency, streamline trading access, and strengthen our standing in the public markets. This completion will also allow us to move forward with key board appointments as part of our broader corporate growth strategy.”
Looking Ahead
With a stronger financial foundation, new contracts in key sectors, and a pending FINRA approval that will bring corporate clarity, VeeMost Technologies is well-positioned for sustained growth.
The company remains committed to:
✅ Expanding its government contracting business through the GSA Schedule process
✅ Securing more E-Rate contracts to support schools and educational institutions
✅ Strengthening its cybersecurity and IT services footprint through new strategic vendor partnerships
✅ Delivering shareholder value through smart financial decisions and targeted growth initiatives
With newly secured contracts from a company serving the defense sector, VeeMost is further expanding its presence in government-focused IT solutions, reinforcing its ability to provide cutting-edge technology and security-driven services.
The company appreciates the patience and support of its investors as it continues to execute on its long-term vision.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
CONTACT: VeeMost Technologies Inc.
info@veemost.com
FAQ
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