**********NEWS************
ADGI Announces Progress on All Fronts
March 13, 2000 10:53 AM
HICKORY, N.C.--(BUSINESS WIRE)--March 13, 2000--American Diversified Group, Inc. ADGI
announced today that its activities and involvements are progressing and exceeding expectations.
Dr. Jerrold Hinton, President of ADGI stated, "We have a great team, many opportunities and we
are excited with the progress we are making with our established strategic plans. We are
continuing with the exploration of additional opportunities. We are building the foundation for
what we believe to be a very substantial company based on a highly motivated management and
technically competent team."
We presently have Global staff in Colombia, others just returning from Mexico, others having
recently returned from meetings in Israel and Poland. Our local partners in Mexico, Colombia and
Venezuela along with others yet to be announced are likewise excited about our mutual
opportunities.
This coming week there will be meetings in Miami with a full agenda, attending will be our key
staff plus consultants for a concentrated focus on our priorities.
In this coming week's meetings in Miami, a partial list of agenda items: discussing and reviewing
the web site, discussing several potential affiliations, joint ventures and acquisitions, discussing
proposals from PR firms, reviewing proposals received for financing and capital infusion,
discussing spinning off the pharmaceutical, generic drug business and medical business to its own
entity.
Private investors have contributed an initial $500,000 and another $1,500,000 has been
committed. We intend to initiate a Private Placement within the next 90 days in the $5-10 M
range which will allow us to accelerate a ramp up of equipment and services in the targeted
countries in South America, Mexico and Eastern Europe. Shares and options in the Private
Placement will be registered in an SB-2, which is currently being prepared.
The 10-K is being finalized and will be filed on or before May 31st.
We intend to announce the 1st Quarter revenues from operations the first week in April. We have
been in a tactical operational mode for some 90 days with much of that time dedicated to testing
and monitoring our facilities to verify that they are functioning properly.
Our first quarter revenues will illustrate substantial progress in our opinion. We have an
aggressive 1, 2 and 3 years plan which we are confident are attainable. One of our goals is to
become a full NASDAQ qualified company, which we anticipate being possible by the first or
second quarter of 2001.
The interview with Dr. Hinton by the Wall Street Reporter (wallstreetreporter.com) was well
received and has been quoted in several industry presentations.
The previous releases issued by the company provide an overview of our activities. We intend to
have corporate information available via our web site shortly.
We continue to forge ahead with confidence ,inspiration, and the ability to effectively navigate
the telecommunications market place.
Certain statements in this release constitute forward-looking statements or statements which
may be deemed or construed to be forward-looking statements within the meaning of the Private
Securities Act of 1995. The words "forecast", "project", "intend", "expect", "should", "would", and
similar expressions and all statements, which are not historical facts, are intended to identify
forward-looking statements. These forward-looking statements involve and are subject to known
and unknown risks, uncertainties and other factors which could cause the Company's actual
results, performance (finance or operating) or achievements to differ from future results,
performance (financing and operating) or achievements expressed or implied by such
forward-looking statements. The above are more fully discussed in the Company's SEC filings.
CONTACT: American Diversified Group, Inc., Hickory Jerrold R. Hinton, Ph.D., President
828/322-2044, 828/322-3798 (fax) E-mail. adgi@abts.net
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(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy) |
