Business
American Diversified Holdings Corporation Announces the Cancellation of 466 Million Shares
American Diversified Holdings Corporation Announces the Cancellation of 466 Million Shares.
About this update from American Diversified Holdings Corp.
[{"type":"text","content":"Del Mar, California--(Newsfile Corp. - August 29, 2024) - American Diversified Holdings Corporation (OTC Pink: ADHC) announced today the completion of a comprehensive overhaul of the Company's balance sheet and capitalization structure. In addition to the $2.73 million debt cancellation recently announced, management has identified an additional 142 million shares of Company common stock set to be cancelled and returned to the Corporate Treasury. The amount of shares cancelled will now total over 466 million shares as a result of pursuing the appropriate legal remedies.The Transfer Agent has previously received the formal court order from the Eighth Judicial Circuit Court, Clark County, Nevada, Case Number A-21-843670-B formally ordering the cancellation of 324.5 million shares of common stock. \"After successfully receiving a judicial order cancelling 324.5 million shares, we have identified more shares that are subject to cancellation,\" Commented ADHC. \"Our recently announced debt cancellation of $2.73 million and this additional 142 million shares set to be cancelled, will serve to solidify our capitalization structure as we contemplate new business operations and potential acquisitions,\" Concluded ADHC. NEW ADHC SHAREHOLDER CONTACT SHAREHOLDER HOTLINE: 858-325-7098DIRECT IR EMAIL: [email protected] development will be publicized in the near term as we continue to build ADHC for future success.About AMERICAN DIVERSIFIED HOLDINGS CORPORATIONwww.UniversalWellnessAI.comwww.UniversalWellnessShop.comJohn Cacchioli, CEOAmerican Diversified Holdings CorporationTelephone: (212) 537-5900Email: [email protected] Media:TWITTER: @ADHCManagement.This Twitter page is the only official Twitter page for ADHC.SAFE HARBOR FORWARD-LOOKING STATEMENTS: This press release may contain forward-looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected revenue, contracts, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S....