American Diversified Holdings Corporation (ADHC) Debt Elimination
(firmenpresse) - DEL MAR, CA -- (Marketwire) -- 08/27/12 -- The Board of Directors of AMERICAND DIVERSIFIED HOLDINGS CORPORATION (PINKSHEETS: ADHC) () has today approved the conversion of the Company's outstanding debt totaling over $500,000 USD into newly authorized Preferred "B" shares with its main secured creditor. The Company CEO Ernest B. Remo said, "With the Company embarking on an ambitious expansion program in the Cloud Computing area, management felt it was in the best interests of the Company to eliminate all debt on the books to set the stage for an equity based expansion program."
These preferred shares are restricted, and cannot trade in its current form. Conversion to common shares is possible in the future. For now, this equity participation of the ADHC creditor will create a much healthier and a debt free company moving forward.
A new updated Adequate Disclosure will be filed at the end of the quarter reporting period as per OTC Markets disclosure requirements.
More details and updates will follow on a timely basis.
Safe Harbor Statement
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 inference has been made that this release contains all such information.
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American Diversified Holdings Corporation
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Datum: 27.08.2012 - 13:25 Uhr
Sprache: Deutsch
News-ID 177762
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DEL MAR, CA
Kategorie:
Healthcare
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