CHEYENNE, WY / ACCESSWIRE / June 9 , 2021 / CADUCEUS SOFTWARE SYSTEMS, CORP. (OTC Pink:CSOC) (‘Caduceus’ or the ‘Company’), a publicly traded Wyoming-based holding company currently entering the recession proof Pet Food and Pet Care industry with the pending acquisition of McLovin’s Pet Food, Inc. is pleased to announce that it has reached another milestone in its restructuring and debt settlement efforts.
Caduceus has reached an agreement to settle additional debt with former management and related parties. The settlement calls for the definitive write-off of outstanding and unsecured debts with a principal total of $2,470,954.
The Company wishes to thank its investors and backers for the support in achieving this milestone and for sharing in the management’s vision and direction. The pending acquisition of McLovin’s continues to move forward. The share structure and market capitalization of the Company is of paramount importance to our backers especially in regards to our efforts to further capitalize the Company towards its goal of undertaking larger distribution agreements and increasing the operational capacity of McLovin’s.
‘We are excited about the state of the Company’s balance sheet as a result of this last settlement. We believe this is going to further strengthen the value to the shareholders and eliminate any potential dilution that could have arisen from this old debt.’ said Alex Chen, Chief Executive Officer of Caduceus Corp.
About Caduceus Software Systems, Corp.
Caduceus Software Systems Corp is a Wyoming-based holding company currently entering the recession proof Pet Food and Pet Care industry with the pending acquisition of McLovin’s Pet Food, Inc. a California company specialized in the manufacturing and distribution of quality pet foods and accessories. The Pet Food and Pet Care market size was USD 207 Billion in 2020 with a stellar growth of 28.11% market. The industry is expected to grow to USD 325 Billion in 2028 at a CAGR of 5.6%. The Pet Food and Pet Care products include food, hygiene, toys, and other accessories. The Company is traded on the OTC Markets under the trading symbol ‘CSOC’.
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About McLovin’s Pet Food, Inc
McLovin’s, Inc. is a California company specialized on the manufacturing and distribution of quality pet foods. We believe in real food. What you’ll find in McLovin’s is similar to what you’ll find in your own grocery cart. In the case of our premium treats, it starts (and ends) with real beef, chicken and salmon. Our products are developed using responsible sourcing and quality is a key part of every single part of our manufacturing process.
Corporate Website: https://mclovinspetfood.com/
Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Caduceus Software Systems, Corp.
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