Golden Developing Solutions, Inc. (OTC: DVLP) is a development-stage company focused on providing products and services in the health, wellness, and technology sectors. After closing 4 acquisitions in the past months, DVLP appears to be on the right track to deliver on its roadmap that includes listing on NASDAQ. With the company working to close 2 further acquisitions that could double its revenue projections, many investors believe DVLP could be poised for substantial growth in 2023. In light of this, DVLP could be one of the penny stocks under a penny to buy in anticipation of more updates.
DVLP Stock News
As the company is looking to grow in the health sector, DVLP ventured into the lucrative telehealth industry by launching its subsidiary Renown RX last March. Through this platform, DVLP offers free consultations with doctors and provides patients with prescribed drugs as well as skincare products.
Many people are inconvenienced by the hassle of getting a doctor’s appointment with the average delay being almost three weeks. Given that most patients don’t have the luxury of waiting this long for an appointment, Renown has emerged as a practical solution for patients with urgent needs.
By using Renown, patients are able to contact doctors who review their history and symptoms to diagnose their problems. Following this, doctors send Renown prescriptions which the company delivers to the patients. This means that Renown has a major competitive advantage in the telehealth industry since Renown also provides these services to patients without medical insurance and at an affordable cost. Given that the telehealth industry is expected to reach $63 billion by 2027, Renown has the potential to secure a significant market share in this industry due to its unique services.
To develop Renown further, DVLP has established a network of licensed physicians across the nation and partnered with 39 state-licensed pharmacies to provide medications. However, it is building on these partnerships with the goal of expanding its network across the country by 2022.
Through these partnerships, Renown offers generic and name-brand drugs as well as an elite skincare line and other non-prescription offerings. At the same time, Renown is partners with several leading suppliers – ensuring that its products are available for shipment once physicians approve their use. Considering Renown’s potential to disrupt the telehealth industry, DVLP could be one of the best penny stocks under a penny to hold long-term.
Meanwhile, DVLP has executed an LOI for a strong merger candidate to align with Renown. While this merging company has yet to be disclosed, many investors are bullish on the long-term prospects of this merger since this merging company generates approximately $10.5 million in revenues annually. Considering DVLP’s market cap of only $5 million, this could a major catalyst for the company which is why investors are anticipating more updates on the company and its other deals. In light of this, DVLP could be one of the most promising penny stocks under a penny right now.
Meanwhile, DVLP landed in the spotlight after announcing the company’s first acquisition is currently in the legal and underwriting process. With 4 additional acquisitions in store, DVLP could be well-positioned to achieve its target of becoming a holding company able to project $100 million in revenues. If DVLP is able to achieve this, then DVLP stock won’t be one of the penny stocks under a penny for long and it looks like DVLP could have its eyes on uplisting to the NASDAQ if it succeeds.
In addition to the company’s already impressive pipeline of projects, DVLP has also entered into a verbal LOI with a company generating average revenues of $35 million per year. Considering the company’s promise to reveal more information on this deal later this week, many investors are bullish the announcement could be as soon as May 10th. As the company plans to send updates regarding its 3 other acquisitions by May 13th, DVLP could be one of the best performing penny stocks under a penny this week.
*Updated August 8th, 2022
Still in the process of acquiring 2 companies, DVLP shared a series of updates with its shareholders regarding these transactions. While the company was planning to share these updates last May, DVLP was unable to deliver on this promise since it intended to close these deals simultaneously. Now that the company is working on both deals separately, DVLP finalized all the documents and closing contingencies for its first acquisition. With this in mind, this acquisition is around the corner as DVLP promised to close the deal by August 18. Given that this acquisition is expected to generate 8 figures in revenues, DVLP stock could be one of the best penny stocks under a penny to invest in this year.
As for its second acquisition, DVLP plans to close this deal shortly after closing the first acquisition. In this way, DVLP appears to be on track to achieve its target of generating $100 million in revenues annually – which could make the company one of the most profitable in the OTC. With the company promising more updates soon, DVLP stock could be one of the penny stocks under a penny to watch closely this month.
*Updated December 12th, 2022
Looking to achieve its target of $100 million annual revenues, DVLP closed a series of acquisitions recently that could set the company for substantial growth in the specialty pharmacy space. For its first set of acquisitions, DVLP acquired Jai Chamunda New Hudson LLC to acquire the assets of its pharmacy location in Michigan. According to this deal, DVLP will acquire these assets for $1.3 million comprising $450 thousand of inventory and $890 thousand of Rx data.
At the same time, DVLP’s subsidiary – Renown – acquired Orchard Trails Pharmacy location. Following these acquisitions, DVLP transitioned both companies into one location that is expected to provide the company with $25 million in annual revenues. With the first step of the company’s roadmap completed, DVLP stock could be one of the penny stocks under a penny poised for substantial growth in the future.
Aiming to further grow its operations, DVLP closed its second set of acquisitions recently as it closed deals to acquire Bushnell Pharmacy LLC and Sai Siva Healthcare, LLC last October. With this in mind, DVLP acquired Bushnell in exchange for $2.2 million and acquired Sai Siva for $3 million – including both companies’ inventory and Rx data. With 4 acquisitions completed, DVLP is confident it could realize more than $100 million in revenues annually in the future. In this way, DVLP could be one of the penny stocks under a penny worth investing in as it could be undervalued at its current PPS.
Meanwhile, DVLP is currently in the process of closing 2 additional acquisitions that could allow the company to further grow its business. By adding these 2 additional targets to the company’s already closed 4 acquisitions, DVLP expects to more than double its $100 million annual revenues projection. In light of this, DVLP could be one of the penny stocks under a penny to buy thanks to its significant potential.
In addition to its efforts to grow its business, DVLP is looking to add value to its shareholders. On that note, DVLP filed to convert 320 million shares held by its CEO Stavros Triant into 320 thousand preferred shares – reducing its float in turn. Meanwhile, DVLP’s dilution appears to be complete as the company’s reg A offering has expired on December 10th. Based on this, DVLP could be one to watch closely this month as it could be set to soar on more updates regarding its upcoming 2 acquisitions.
DVLP Stock Financials
Annual Report
Looking at DVLP’s financials, the company has $10.7 thousand cash on hand and was able to decrease its liabilities to $998 thousand after reporting $1.1 million in 2020. Given that DVLP had no revenues in 2021, the company reported a net loss of $630.3 thousand. Despite this, DVLP’s future looks bright as its merger and acquisition activity could help the company realize new revenue streams. Given that DVLP could acquire a company generating $35 million in revenues as well as potentially merge with a company reporting $10.5 million in revenues, the company could show significant growth in its next annual report.
Q1 Report
In its Q1 report, DVLP’s cash on hand declined significantly from $10.7 thousand to $775. Meanwhile, the company reduced its liabilities to $824.5 thousand compared to $998.1 thousand in the previous quarter. Meanwhile, DVLP did not report any revenues in Q1 as it is still working to close its upcoming acquisitions. Meanwhile, operating costs increased from $13.6 thousand in the same year-ago period to $58.2 thousand. Despite this, DVLP reported a net income of $16 thousand compared to a net loss of $90.8 thousand a year ago.
Q3 Report
According to its Q3 financials, DVLP has $339.7 thousand in assets comprising cash only and has $704.7 thousand in liabilities. Since the company’s financials were released prior to the completion of its acquisitions, DVLP has not reported any revenues. However, the company incurred $71.1 thousand in operating costs – leading the company to report $201.1 thousand in net loss.
Media Sentiment
@SuperRobotOTC is anticipating more growth from DVLP.
@Arcstockstrader is bullish DVLP could reach its 52-week high now that dilution is over.
Technical Analysis
DVLP stock is currently trading at $.005 and has supports near .0049 and .0035. Meanwhile, the stock shows resistances near .0058, .007, .008, and .0093. Although DVLP is considered to be one of the most promising penny stocks under a penny, the stock has been affected by the ongoing dilution to raise the required capital to grow the company’s business. Considering that the reg A offering expired on December 10th, DVLP could be poised to soar soon as it is currently working to close 2 acquisitions. With this in mind, DVLP is trading near its support which it has recently retested. Given that the upcoming acquisitions could double the company’s revenue projections of $100 million annually, the current PPS could be a good entry in anticipation of more updates.
Considering the company’s long-term potential, accumulation is trending upwards as many investors view DVLP as a long-term play. Despite this, the MACD is bearish to the downside. Meanwhile, the RSI dropped from 40 to 30 indicating that DVLP is oversold at the moment. In light of these indicators, entering a position in DVLP at the current PPS could prove to be a profitable decision as it appears to be set to run in the near-term.
DVLP Stock Forecast
With 4 acquisitions closed, DVLP is landing on investors’ radars as one of the hot penny stocks under a penny. Considering that the company is working to finalize 2 additional acquisitions that could double its revenue projections, DVLP could be poised for substantial growth in 2023 and beyond. Given the company’s roadmap outlining its plans for uplisting to the NASDAQ, these acquisitions could set DVLP to achieve this target. Meanwhile, DVLP could be well-positioned to run in the near term as its reg A offering expired on December 10th. As the dilution could be over, DVLP could be one of the penny stocks under a penny to buy now as it could soar on more updates regarding its upcoming acquisitions.
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