AMERICAN DIVERSIFIED HOLDINGS CORP (OTC: ADHC) REACHES AGREEMENT FOR COMPREHENSIVE TRANSITION OF ALL BUSINESS OPERATIONS 1-31-23 QUARTERLY FINANCIALS FILED; AGREEMENTS REACHED; TO DIVEST OF ALL OPERATIONS, FOR NEW CEO, NEW BOARD AND NEW BUSINESS WITH A MAJOR CBD CONCERN
Del Mar, CA, | March 20, 2023 06:30 AM Eastern Daylight Time
McapMediaWire -- American Diversified Holdings Corporation (OTC: ADHC) announced today that the Company has filed its quarterly financials ending in 1-31-23. The filing can be found at www.otcmarkets.com under the ticker symbol "ADHC". Additionally plans to divest of all operating business have been initiated in anticipation of a comprehensive transition of all company operations.
Agreements have been reached for a new CEO, a New Advisory Board and a new operating business. Additionally, ADHC management has been advised by litigation counsel that a judicial order cancelling 325 mm shares of common stock is expected imminently.
Parties a have agreed to refrain from publicizing any details of these agreements until formal execution has taken place. It is anticipated that all developments should be consummated in April, 2023.
ADHC has filed suit in The Eight Judicial Circuit Court, Clark County, Nevada case, Number A-21-843-670, seeking the cancellation of 325,000,000 (325 MM) shares of common stock. On January 6, 2023, the court granted the motion for default and will be issuing the formal order soon.
The signed court order granting default judgment is the final legal step before all litigation is resolved.
Currently, ADHC capitalization structure is as follows:
Shares Outstanding: 1.1 billion
Shares Restricted: 600 million
Shares in the Float: 504 million
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ANNUAL GROWTH RATE: 31.8 % COMPOUNDED ANNUAL GROWTH RATE
E-COMMERCE SEGMENT: 42% OF REVENUES
INDICATION: JOINT PAIN, ANXIETY/STRESS, EPILEPSY, GENERAL HEALTH AND WELLNESS
American Diversified Holdings Corporation (OTC: ADHC) is a publicly traded holding company trading under the ticker symbol "ADHC".
TWITTER: @ADHCManagement. This Twitter page is the only official Twitter page for ADHC.
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