Adama Technologies Corp. (OTC Pink: ADAC) operates as a venture capital company, which focuses on investing in technologies that can assist startups and expanding companies. Shares of the startup technology company are rallying 56.68%, through early trading on Friday, December 1, 2017. Over the past month, Adama Technologies Corp. has seen average daily volume of 40,086 shares. However, volume of 643,602 shares or dollar volume of $19,951, has already exchanged hands on the day.
Shares of Adama Technologies Corp. are rallying on Friday, after the company released a shareholder update regarding future growth and development plans. Management says the company is currently on path to generate annual revenues of $1 million in fiscal 2017. Furthermore, the company is rolling out new technologies that are tied to cryptocurrency and blockchain. Here is the full press release detailing of the shareholder update:
Adama Technologies Corp. Press Release:
LAS VEGAS, NV / ACCESSWIRE / December 1, 2017 / Adama Technologies Corp. (OTC PINK: ADAC) released a market update today to allow shareholders an opportunity to see the Company’s growth and development strategy and revenue targets for 2018. The Company is currently on path to generate over $1 million in annual revenue for the fiscal year 2017. The Company is planning to roll portions of such revenue into the development of a new, online community market that allows the Company to reach a global audience with numerous products to sell and market within the newly created marketplace. Additionally, the Company is planning to create its own currency that will be able to be both used and exchanged within this marketplace so that the Company is able to participate in the ever-increasing presence of online cryptocurrencies.
Eric Sills, CEO of Adama Technologies Corp., commented on the news of this new venture saying, “We could not be more pleased with our current operations and the fact that we will top over $1 million in annual revenue. However, as we look toward the future, we certainly are focused on expanding our revenue and growing our footprint and sales capabilities. When we look around the room at the enormous talent we have recruited from both an internal team of employees, as well as the significant skill we have in our consultants and outside tech teams, we really feel like we can begin to tap into the broader global markets that are available in an online sales format.”
The Company stated that within this online marketplace they intend to sell both products that the Company manufactures as well as numerous other products that the Company can market as resellers, wholesalers, and affiliates.
When asked about this new initiative and sales focus Adama Technologies is pursuing, Mr. Sills responded stating, “We believe that the timing is very favorable for us to enter this market. We have a broad network of manufactures, suppliers, and customers that will enable us to offer a niche grouping of products within the aviation industry as well as other market segments that would be in high demand. As we combine that timing and opportunity with our ability to create for our company a unique cryptocurrency that can be used to buy, sell, and trade within this marketplace, it gives us a unique approach to online retailing that is both marketable and profitable. We believe that as the details for this plan emerge and shareholders and investors are made aware of just how exciting this opportunity is going to be, it will be very well received.”
The Company stated that additional information will be released in the coming days and that a rollout strategy would be made available on the Company’s website before the first of the year.
This release contains forward-looking statements that are based on beliefs of Adama Technologies Corp. management and reflect Adama Technologies Corp.’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words “estimate,” “project,” “believe,” “anticipate,” “intend,” “expect,” “plan,” “predict,” “may,” “should,” “will,” “can,” the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of Adama Technologies Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Adama Technologies Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company’s filings with the SEC including 10K, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. There is no assurance Adama Technologies Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company’s due diligence on the potential acquisition of oil and gas assets will be favorable nor that definitive terms can be negotiated. Information in this release includes representations from the private companies referred to which has not been independently verified by the company. A downturn in oil prices would affect the potential profitability of the proposed acquisition negatively.