Adaiah Distribution Inc. (OTC Pink: ADHH) is a Latvia-based company that is engaged in the distribution of various types of pillows, across the U.S., Russia, and European Union. Shares of Adaiah Distribution Inc. are down nearly 8.50% through afternoon trading Friday, September 16, 2016. Over the past three months, the pillow distributor has seen average daily volume of 29,803 shares. However, nearly 2.14 million shares or dollar volume of $363,800 has already exchanged hands through afternoon trading Friday.
There is no news out today that would explain the decline on heavy volume. In fact, it has been over a month since Adaiah Distributors Inc. released press and shareholder update. During the last press release, dated August 4, 2016, Adaiah Distributors Inc. announced that they had sold and delivered the company’s second sales order for 100 itherapeutic health pillows, a total value of $5,000. Here is the press release from August:
Adaiah Distribution Inc. Press Release:
MADONA, LATVIA–(Marketwired – August 04, 2016) – Adaiah Distribution Inc. (ADHH) announced today the successful completion of a second sales order for its original business model. Adaiah Distribution has sold and delivered on June 22, 2016 to its first customer itherapeutic health pillow an initial order of 218 pillows for total value of $10,944. On July 25 the company received another purchase order from a second customer based in Hong Kong for 100 pillows for total value of $5000. This second purchase order represents a very big milestone for Adaiah Distribution as the company is actively expanding its original core business plan in 2016.
As previously announced, the recent planned addition of Angelini Trading as an additional add on to its original business plan will to help grow the company from a start up. Adaiah Distribution is planning to complete this transaction in the very near future. Upon completion of the acquisition, Adaiah Distribution plans to continue its core business as per its original business plan and continue to look for additional add on opportunities like Angelini Trading to complement the original business plan.