ADIA Nutrition Inc. Identifies Historical Share Issuance Issues; Commits to Retiring over 25 Million Shares

Rhea-AI Summary

ADIA Nutrition Inc. (OTC Pink: ADIA) has discovered issues with approximately 25 million shares issued or committed without proper documentation over a decade ago. This includes 15 million currently outstanding shares and 10 million shares promised in a payment agreement before the current board's tenure. The company plans to retire these shares, which would reduce outstanding shares by about 15%.

Current share structure shows: 95,899,861 outstanding shares, 74,051,080 restricted shares, 21,848,781 unrestricted shares, 19,575,347 shares held at DTC, and a float of 13,848,781. The company is investigating additional restricted shares that might have been improperly issued. Management is working with legal advisors to properly retire the shares while maintaining operational focus on health and wellness initiatives, including umbilical cord stem cell treatments and HSCT for Multiple Sclerosis.

Positive

• Planned 15% reduction in outstanding shares through share retirement
• Proactive approach to addressing historical share issuance issues
• Maintaining operational capabilities despite share structure cleanup

Negative

• Discovery of 25 million shares issued or committed without proper documentation
• Potential additional improper share issuances under investigation
• Historical compliance and documentation issues revealed

Winter Park, Florida--(Newsfile Corp. - February 11, 2025) - ADIA Nutrition Inc. (OTC Pink: ADIA), a leader in health and wellness solutions, has uncovered issues with share issuance from over a decade ago. Following an internal review, it was discovered that around 25 million shares were either issued or committed without proper documentation. This includes 15 million shares currently outstanding and 10 million shares promised in an agreement to pay, prior to the current board's tenure. ADIA Nutrition is now actively working to retire these shares which would decrease the current number of outstanding shares by approximately 15 percent.

OTC Markets

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ADIA's Current Share Structure (as recorded by OTC Markets):

• Outstanding: 95,899,861

• Restricted: 74,051,080

• Unrestricted: 21,848,781

• Held at DTC: 19,575,347

• Float: 13,848,781

The company's accountants and board are also examining other outstanding restricted shares that might have been improperly issued before the current board assumed control.

After a detailed review of its shareholder structure, ADIA Nutrition confirmed that these shares lacked the required legal documentation and regulatory filings.

Larry Powalisz, CEO of ADIA Nutrition Inc., commented, "We have taken immediate steps to correct this past oversight. Ensuring the integrity and legality of our share structure is crucial for our commitment to transparency. We are collaborating closely with our legal advisors to retire these shares appropriately."

Steps Being Taken Include:

Investigation: A comprehensive review of historical records to understand how the undocumented issuance occurred.

Compliance: Working with legal experts to ensure all share retirement complies with regulatory requirements.

Transparency: Engaging in direct communication with shareholders to keep them informed about the actions being taken.

This initiative will not impact ADIA Nutrition's operational capabilities or its strategic focus on health and wellness. The company continues its commitment to innovation in areas like umbilical cord stem cell treatments and Autologous Hematopoietic Stem Cell Transplantation (HSCT) for Multiple Sclerosis.

For media inquiries or further information, please contact Larry Powalisz at ceo@adiamed.com or 321-788-0850.

About ADIA Nutrition Inc.:
Adia Nutrition Inc. is a publicly traded company (OTC Pink: ADIA) dedicated to revolutionizing healthcare and supplementation. With a focus on innovation and quality, the company has established two key divisions: a supplement division providing premium, organic supplements, and a medical division establishing Clinics that specialize in Hematopoietic Stem Cell Transplantation (HSCT) treatments for Multiple Sclerosis (MS). Through these divisions, Adia Nutrition Inc. is committed to empowering individuals to live their best lives by addressing both nutritional needs and groundbreaking medical treatments.

Website: www.adianutrition.com

Website: www.adia-med.com

Website: www.biolete.com

Website: www.cementfactory.co

Twitter (X): @ADIA_Nutrition

Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a few uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239813

FAQ

How many shares will ADIA Nutrition (ADIA) retire from its share structure?

ADIA Nutrition plans to retire approximately 25 million shares, including 15 million currently outstanding shares and 10 million shares promised in a previous agreement.

What is ADIA's current outstanding share count as of February 2025?

According to OTC Markets, ADIA's current outstanding share count is 95,899,861 shares.

What percentage will ADIA's share retirement reduce its outstanding shares?

The planned share retirement will reduce ADIA's outstanding shares by approximately 15%.

What steps is ADIA taking to address the share issuance issues?

ADIA is conducting a comprehensive review of historical records, working with legal experts for compliant share retirement, and maintaining transparent communication with shareholders.

What is ADIA's current float size according to the announcement?

ADIA's current float is 13,848,781 shares.