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- Approximately Asset Value $38,400,000
- Estimated Revenue for 2018 $5,000,000
- Estimated Revenue for 2019 $100,000,000
COCONUT CREEK, Fla., Aug. 21, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Bahamas Development Corporation (OTCPINK: BDCI) affiliate company Global Consortium, Inc. dba Cannabis Consortium and it partners have all agreed to merge all of the operations and assets under Bahamas Development Corporation.
BDCI filed its 2nd Quarter financial report last night and within the report it details all of the assets and operations that will be merged into Bahamas Development as wholly owned divisions.
The group has also agreed to change the name of the Company to Global Consortium, Inc.
The operations of Global Consortium will merge in first, which includes the Hemp farm in CO, Infused Edibles, and Indulge Oils. These operations will be merged effective as of July 1, 2018, and will file consolidated financials beginning September 30, 2018.
Once Global's operations have merged in then the Partnership company ToMarRa, LLC a Nevada corporation, will merge its assets into the Company.
Upon complete consolidation of all operations, the conservative estimated value of the assets will be $38,400,000 as explained within the 2nd Quarter financial report.
The conservative estimate of revenue for 2018 is $5,000,000 and the conservative estimated revenue for 2019 is $100,000,000.
Further details have been explained within the June Quarterly financials as posted to OTCMarkets.com.
Bahamas Development Corporation, in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg FD.
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, release of corporate apps, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk.
Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure on otcmarkets.com.
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