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DENVER, May 02, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) (“DVLP” or the “Company”), an emerging leader in the Cannabis, Hemp, and CBD marketplace, is proud to announce that it has now obtained fully-audited fully-reporting status with the SEC following the filing of audited financial data along with Form 10. In addition, the Company is in the process of uplisting shares from the Pink Sheets onto the OTCQB “Venture Market” tier.
DVLP CEO Stavros Triant commented, “These steps represent a statement about trust, confidence, and transparency. We are demonstrating our commitment to the heightened financial and corporate disclosure standards associated with the higher tier listing. That is crucial right now because we are seeing extraordinary growth so far in 2019, both organically and through the integration of new products and our recent acquisition in the CBD space.”
The Company began generating revenues in 2018, reporting $265K in total sales for the year. Management notes that 2019 is already vastly outpacing those results, with March 2019 sales alone more than doubling all of 2018 sales (when including sales from recently acquired Infusionz, LLC), representing an 800% monthly year-over-year revenue growth rate.
Management also notes that the dramatic growth context now characterizing the cannabis, hemp, and CBD industries has paved the way for a crowd of companies to make unsubstantiated claims about significant participation in these markets. This highlights the importance for DVLP to set itself apart in terms of credibility and transparency as it continues to post robust and accelerating growth in all segments.
Mr. Triant continued, “We are now ahead of our ambitious projections for the year. And the establishment of fully-reporting fully-audited financial status and a migration up onto the OTCQB exchange will provide better access to institutional investors, a broader shareholder base, and greater credibility with our partners, clients, stakeholders, and customers, as well as with the wider investment community.”
About Golden Developing Solutions, Inc.
Golden Developing Solutions (DVLP) is developing an online retail business for cannabidiol (CBD), hemp oil and health/wellness-related products. The Company is also developing a high-capacity, high-quality CBD extraction and production facility. In addition, through the website of its joint venture partner, Pura Vida Vitamins (www.PuraVidaVitamins.com), as well as through wholesale and distribution channels, the Company offers a broad range of high-quality, price-competitive products, including traditional vitamins, supplements, and CBD-based tinctures, vapes and soft gels, among other products. Merchandise also includes hemp and CBD-related products and additional products focusing on health and lifestyle.
Golden Developing Solutions is a development-stage company providing business services and/or products supporting the cannabis industry, in which company intends to make acquisitions in the near future. Currently, 29 states and the District of Columbia have passed laws permitting their citizens to use cannabis for medical and/or recreational purposes. Cannabis has shown encouraging signs as a treatment for various medical conditions and has become increasingly more acceptable to the public and society.
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced herein are not incorporated into this press release.
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