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OLIVEDA International, Inc. Files 3rd Quarter Financial Report Including Return of 4 Million Common Shares to Treasury
OLIVEDA International, Inc. Files 3rd Quarter Financial Report Including Return of 4 Million Common Shares to Treasury.
About this update from Oliveda International, Inc.
[{"type":"text","content":"\n\n SANTA MONICA, CA, Jan. 05, 2018 (GLOBE NEWSWIRE) -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international natural cosmetics innovator, today commented on the recent posting of its quarterly report for the period ended September 30, 2017, which shows a 222% quarter-over-quarter increase in income, as compared to the same period in 2016, and a 90% increase in total assets from December 31, 2016 to September 30, 2017.  Additional details are available in the filing posted to the OTC Markets website at https://www.otcmarkets.com/stock/OLVI/filings.\n The filing also documents the return to treasury of 4 million shares of common stock that were issued as part of a merger agreement between Oliveda International, Inc. and Heritage Media, which resulted in Oliveda trading as a public company.  The quarterly report also details the cancellation of all issued and/or authorized shares of both Series B and Series C Preferred Stock. “Management believes that this quarterly report provides just a glimpse of what Oliveda can achieve as a public company,” commented Chairman and CEO Thomas Lommel  “With ongoing and future planned expansion into new markets, as well as the introduction of additional products, we expect significant and continued growth for OLVI.” With this filing completed, Oliveda will immediately focus on the removal of the “Caveat Emptor” designation on the OTC Markets website, which was assigned after an unknown third party or parties engaged in a promotion for the stock symbol OLVI.   In an Oliveda International press release dated October 4, 2017, Mr. Lommel stated, “neither the company nor any member of its management team initiated or participated in any promotion or awareness program for OLVI stock.  Furthermore, neither the company nor any member of its management team authorized any 3rd party to engage in any promotion or awareness program on the company’s behalf.” Beyond this initial objective, the company intends to become fully reporting, pursue a higher status on the OTC Markets, and ultimately grow into a company that would qualify to graduate to a Nasdaq market.  As part of its market positioning efforts, the company expects to retain Securities Counsel in the near term.      Oliveda Interna...