Major Debt Restructuring Send Shares on a Tear

By: Dylan Sikes – AllPennyStocks.com News

Monday, August 26, 2024

News that this firm is going debt free—restructuring to eliminate close to $3 million in debt from its balance sheet, is sending shares higher in Monday’s trade.

American Diversified Holdings Corporation (OTC Pink: ADHC) announced today in a press release that it has negotiated the elimination of $2,726,729.00 in debt from its balance sheet, creating a debt-free company. Additional restructuring is underway that will further strengthen ADHC's position in the marketplace as the operation division, Universal Wellness AI, seeks out business relationships and acquisition partners. This debt elimination is expected to be reflected on their corporate annual report due September 30, 2024.

Management made this announcement, “This is a major move for ADHC and our Shareholders. Cleaning up the balance sheet clearly makes the Company a much more attractive suitor as we negotiate deals to bring value to our Shareholders. Several other corporate actions are underway to further strengthen our position in the market place", adding, "We have conducted a thorough review of ADHC's capital structure including the stock table, balance sheet and other financial aspects in concert with our attorneys and auditors. We are very excited for the future of the Company as our strategy is being favorably received by our business partners," concluded ADHC.”

Shares were trading up in heavy trading in afternoon activity.

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