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American Diversified Holdings Corporation Completes Brazos Biomedical, LLC Acquisition
American Diversified Holdings Corporation Completes Brazos Biomedical, LLC Acquisition.
About this update from American Diversified Holdings Corp.
[{"type":"text","content":"\n\n\n\nAmerican Diversified Holdings Corporation Completes 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\n\n\n\n\n\nAmerican Diversified Holdings Corporation Completes Brazos Biomedical, LLC Acquisition\nADHC to Develop the Non-Opioid AURACIS™ \"TENS\" Migraine Management System\nPR Newswire\nDEL MAR, Calif., June 12, 2018\n\n\n\nDEL MAR, Calif., June 12, 2018 /PRNewswire/ -- American Diversified Holdings Corporation (OTC: ADHC) announced today that the company has completed the acquisition of Houston Texas based Brazos Biomedical, LLC (Brazos). ADHC has acquired all the assets of Brazos Biomedical and the AURACIS™ TENS Migraine therapy system including all the patents and patent applications in the US and abroad, patent license agreement, technical engineering schematics, FDA plans, patient study information and other related assets.  \n\nBrazos has an international patent portfolio covering the AURACIS™ system. This includes issued patents in the US and patent applications pending in foreign countries.  Recognizing that a robust patent portfolio is imperative to the success of the development of the AURACIS™ system, ADHC has undergone a comprehensive review of these files.  Moreover, Brazos has obtained proposals from multiple leading OEM device and development firms as they prepare to advance the AURACIS™ system towards the market. \n\nThe terms and conditions of the Brazos Biomedical, LLC acquisition (BRAZOS), were not disclosed pending completion of standard due diligence. \n\nADHC management has undertaken a financial reorganization that has resulted in the reduction of $1.2 mm in debt on the balance sheet. In addition to the debt reduction approximately 95 million shares have cancelled and reduced from the total shares outstanding. Third quarter financials ending on April 30, 2018 have been filed and can be reviewed at www.OTCMARKETS.com \n\nADHC management believes this debt reduction and share cancellation will further enhance the Company's financial picture.  Allowing for a broader bas...