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American Diversified Holdings Corporation Announces Corporate Restructuring and Reduction of Shares Outstanding in Advance of Brazos Biomedical, LLC Acquisition
American Diversified Holdings Corporation Announces Corporate Restructuring and Reduction of Shares Outstanding in Advance of Brazos Biomedical, LLC Acquisition.
About this update from American Diversified Holdings Corp.
[{"type":"text","content":"\n\n\n\nAmerican Diversified Holdings Corporation Announces Corporate Restructuring and Reduction of Shares Outstanding in Advance of Brazos Biomedical, LLC Acquisition\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\nAmerican Diversified Holdings Corporation Announces Corporate Restructuring and Reduction of Shares Outstanding in Advance of Brazos Biomedical, LLC Acquisition\nPR Newswire\nDEL MAR, Calif., April 11, 2018\n\n\n\nDEL MAR, Calif., April 11, 2018 /PRNewswire/ -- American Diversified Holdings Corporation (Pink Sheets: ADHC) announced today it has taken several steps to restructure the company in advance of its previously announced acquisition of Brazos Biomedical, LLC. The Company will retire approximately 140,000,000 shares of common stock back into the corporate treasury which will reduce the total shares outstanding to approximately 688,000,000 shares as the first step in this process. These moves do not preclude additional reduction of shares in the future especially if there is opportunity for additional attractive acquisitions. The free trading shares outstanding remain at 330,832,000.\n\nAdditionally, ADHC management will be taking the steps necessary, including audit and capital requirements to up list the Company to the OTCQB after the acquisition of Brazos is completed. Management stated, \"having fully audited financial statements will be a necessary step for the Company's acquisition strategy on a go-forward basis.\"  ADHC recently reached an agreement to acquire (BRAZOS), a biomedical device development company based in Southlake, Texas. The terms of the agreement, which included cash and equity, were not disclosed pending completion of standard due diligence. \n\nBRAZOS has a proprietary device (AURACIS™) in pre-clinical development to treat headache pain using transcu...