- Completed Acquisition of McLovin’s as a Wholly Owned Subsidiary.
- Global Pet Food Market Projected to USD 127.21 Billion by 2027.
- USD 1,620,000 Financing to Support & Expand Business Plans.
- Share Cancellation & 1.61 Billion & 1.7 Million Debt Restructuring to Protect and Enhance Shareholder Value.
Caduceus Software Systems Corp. (OTC: CSOC) is a Wyoming-based holding company with is wholly owned subsidiary McLovin’s, a Pet Food and Pet Care company. The Pet Food and Pet Care products include food, hygiene, toys, and other accessories.
McLovin’s, Inc. is a California company that specialized in the manufacturing and distribution of quality pet foods. McLovin’s believes 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 its premium treats, it starts (and ends) with real beef, chicken, and salmon. Products are developed using responsible sourcing and quality is a key part of every single part of the manufacturing process.
The McLovin’s
- CSOC Completes McLovin’s Acquisition
On August 9th, McLovin’s signed off on the final terms of acquisition and executed the transaction, therefore becoming a wholly owned subsidiary of CSOC.
Alex Chen, Chief Executive Officer and Director of CSOC, stated: “We have been working tirelessly to get to this point. We are looking forward to the next step in this journey. McLovin’s team has been actively developing sales and new distribution channels. We cannot wait to announce the progress achieved so far on that front. This is the first of many great announcements by the Company regarding the execution of its strategy to create value for shareholders and to reach the requirements for an uplisting to the Nasdaq.”
The global pet food market size is expected to reach USD 127.21 billion by 2027, exhibiting a CAGR of 4.60% during the forecast period. In 2019, the market value stood at USD 90.13 billion. The demand for high-quality and organic foods for pets is being driven by owners’ concerns about their pets’ health and boosting this market, shares. (Fortune Business Insights™ report titled “Pet Food Market, 2020-2027”)
The Pet food and treat sales in the U.S. increased 9.7% in 2020, adding USD 3.7 billion for a total of USD 42 billion for the year, according to the American Pet Products Association (APPA). Continued healthy growth is estimated for 2021. The APPA expects this general resilience and growth to continue in 2021, projecting above-average increases again for pet food and pet supplies at 5% and 6%, respectively. The growth for pet food would result in an estimated USD 44.1 billion in sales for 2021.
- 1,620,000 Financing Completed
On July 9th CSOC announced it has entered into a private placement of USD 1,620,000 of convertible promissory note. CSOC has entered into a definitive agreement with one of its private investors to raise the capital for support and expansion of their business plans and to be able to take on bigger orders. The convertible note is unsecured, carries an interest of 8%, and has a conversion price set at $0.15 per share.
- Share Cancellation & 1.61 Billion & 1.7 Million Debt Restructuring
In the quarter ending June 30th, 2021, CSOC canceled a total of 1.62B shares which represents almost 70% of its existing outstanding shares. The Company previously announced it had a goal of canceling up to 2B shares in total:
https://finance.yahoo.com/news/caduceus-announces-plans-buyback-cancellation-171000983.html
On June 30th CSOC announced it has reached an agreement to amend a Promissory Note of USD 1,707,561. With this last settlement, CSOC completed the settlement of all liabilities from previous management.
As part of its reorganization efforts, CSOC reached an agreement with the Debtholder of the Promissory Note by amending the conversion rate from USD 0.001 to USD 0.10 per common stock share subject to a blocker clause of no more than 10% of the outstanding shares. Only 17 million can now be issued from this Promissory Note. This represents a major reduction from the 1.7 billion shares and an unprecedented step to protect and create value for the Company and its shareholders.
For more information:
OTC Markets: (OTC PINK:CSOC)
Website: https://caduceuscorp.co
Email: info@caduceuscorp.co
Discord: https://discord.gg/apolloassets
Twitter: https://twitter.com/caduceuscorp
McLovin’s: https://www.mclovinspetfood.com/
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Media Contact
Company Name: Caduceus Software Systems Corp
Contact Person: Media Relations
Email: Send Email
Phone: +1 347-635-4029
Address:2123 Pioneer Avenue Principal Executive Offices: 4401 Eucalyptus Ave, Suite 100
City: Cheyenne
State: WV 82001
Country: United States
Website: caduceuscorp.co
