$ADHC American Diversified Holdings Corporation Announces Corporate Restructuring and Reduction of Shares Outstanding in Advance of Brazos Biomedical, LLC Acquisition
DEL MAR, Calif., April 11, 2018 /PRNewswire/ -- American Diversified Holdings Corporation (Pink Sheets: ADHC) announced today it has taken several steps to restructure the 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 can be cost prohibitive 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.
DEL MAR, Calif., April 11, 2018 /PRNewswire/ -- American Diversified Holdings Corporation (Pink Sheets: ADHC) announced today it has taken several steps to restructure the 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 can be cost prohibitive 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.
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