AMERICAN DIVERSIFIED HOLDINGS CORPORATION Announces Corporate Restructuring and Reduction of Shares Outstanding in Advance of
12 Avril 2018 - 3:45PM
InvestorsHub NewsWire
AMERICAN DIVERSIFIED HOLDINGS
CORPORATION Announces Corporate Restructuring and
Reduction of Shares
Outstanding in Advance
of Brazos Biomedical,
LLC Acquisition
Del Mar,
CA -- April 12, 2018 -- InvestorsHub
NewsWire
--
American
Diversified Holdings Corporation (USOTC:
ADHC) announced today it has taken several steps to restructure
to 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.
Additionally,
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.
BRAZOS
has a proprietary device (AURACIS) in pre-clinical development to
treat headache pain using transcutaneous electrical nerve
stimulation (TENS) technology. AURACIS is a new approach to
treating migraine using TENS technology to stimulate multiple
cranial nerves to alleviate migraine pain. AURACIS is placed on the
head and with electrodes located at key points delivers mild
electrical impulses that mute the pain signals typically associated
with migraine headaches. BRAZOS has
disclosed that "AURACIS
has tremendous potential to alleviate suffering from migraine
headaches. Our proprietary technology most closely mimics the most
effective treatment for migraine at a fraction of the cost and
without the risks of surgical implants." Approximately 100 million
people in the US experience headaches and more than a third are
migraines. Migraine occurs three times more frequently in women
than in men and is the third most prevalent and sixth most
disabling disease in the world. Most migraines are self-treated
with over-the-counter medications that are marginally effective in
the majority of cases. Many prescription drugs are also utilized
with varying success. The most effective treatment involves the
surgical implantation of electrodes which has a reported 80-90%
success rate but can cost in excess of and is associated with risks
common to surgery including infection. ADHC commented, "The
acquisition of BRAZOS is a very significant milestone for the
Company. The AURACIS device has the potential to transform an unmet
medical need for migraine sufferers using a base
technology (TENS) that has been used clinically for over twenty
years and is generally regarded as safe." ADHC continued, "The
acquisition is designed to accelerate product development and to
provide resources for future product innovation and development."
For more information: www.brazosbio.com
ABOUT
AMERICAN DIVERSIFIED HOLDINGS CORPORATION
American
Diversified Holdings Corporation is a holding company that provides
executive management, corporate governance, administrative support,
financial advice, and introductions to capital sources to various
micro-cap private and public companies that have proven revenues
and business models.
Safe
Harbor
This
press release contains forward-looking statements pursuant to the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These statements include risks and
uncertainties that may cause the Company's plans to change and are
in no way intended to guarantee that the Company will be successful
in executing its plans. American Diversified Holdings common stock
currently trades on the over-the-counter "Pink Sheets" under the
symbol ADHC. This press release in no way constitutes any
recommendation regarding the securities of ADHC or its affiliates.
Any person reading this press release is advised that this release
should be considered in the light of all facts and circumstances
regarding the business and financial condition and prospects of
ADHC, and no reference has been made that this release contains all
such information.
Investor
Contact: Email
: adhcinvestor@gmail.com
Phone:
858 259 4534
American Diversified (PK) (USOTC:ADHC)
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