fung_derf
5 hours ago
You had a broker who recommended a 2 cent stock to you? Time for that guy to lose his license!
I guess if you bought in Oct '22 and sold in Feb '23, you made some nice profit. However, apparently it went up due to a pump and dump.
BTW, this may be the most vague PR I've ever read....
VEEMOST TECHNOLOGIES, INC. SIGNS A LETTER OF INTENT TO ACQUIRE TEXAS-BASED IT COMPANY.
Globe Newswire12:30 PM Eastern Daylight Time Jun 28, 2024
Red Bank, NJ, June 28, 2024 (GLOBE NEWSWIRE) -- VeeMost Technologies, Inc. formerly, Global Developments, Inc. (OTC:GDVM), a publicly listed leader in innovative IT solutions, is pleased to announce that it has signed a Letter of Intent to acquire a prominent Texas-based IT company. This strategic acquisition will enhance VeeMost's capabilities and market presence, as the Texas company generates annual revenues of approximately $10 million.
The “Texas-based” technology company was founded in 2013 and is a leading provider of software and hardware integration and support. The company has a strong track record of innovation and customer satisfaction, with their largest customer being a large retailer with over 1200 stores nationwide.
The acquisition aligns with VeeMost's long-term growth strategy and its commitment to delivering cutting-edge technology solutions to its expanding customer base. The Texas-based company brings with it a wealth of experience, innovative approaches, and a loyal customer following, which will significantly bolster VeeMost's service offerings.
"We are thrilled at the opportunity to welcome this new company into the VeeMost family," said Mr. Melvin Ejiogu, CEO of VeeMost Technologies, Inc. "Their innovative approach, exceptional talents, and customer base align perfectly with our vision. This acquisition will enable us to push the boundaries of what's possible and provide even greater value to our customers. It ensures that VeeMost capitalizes on the huge growing information technology market in Texas. This was one of the reasons we filed for a foreign qualification last year to expand into Texas. Furthermore, over 30% of the erates we won this year were in Texas, so we are excited about this.”
The acquisition is expected to be completed in the next sixty days, subject to customary closing conditions and regulatory approvals. Upon completion, the “Texas-based” company will operate as a wholly owned subsidiary of VeeMost Technologies, Inc. VeeMost anticipates a seamless integration process, ensuring continued excellence in service and support for both companies' customers.
“When we started on this journey,” said Mr. Ejiogu, “I expressed my goal to leverage acquisitions as one of the strategies to grow the company into a force to reckon with. This is the first step on that journey.”
Even their own description is vague!
VeeMost Technologies, Inc., formerly VeeMost Technologies Holdings, Inc., is a Canada-based company, which is looking for a business acquisition. The Company is focused on equity and debt financing opportunities. The Company's business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more target businesses. The Company has not selected any business combination target.
AND, they don't even have an address on their website!
Head Office
Red Bank, New Jersey
NJ 07701, USA
They do have an office though in Nigeria, so maybe they work for the Prince?
NIGERIA
10 Olatunji Moore St
Victoria Island
Lagos
Nigeria (NG)