Red Bank, NJ, March 14, 2025 (GLOBE NEWSWIRE) — VeeMost Technologies Inc. (OTC: GDVM) is pleased to provide key updates on its strategic growth initiatives, government-contracting progress, and corporate updates that reflect the Company’s commitment to delivering long-term value for shareholders.
Prioritizing internal growth over acquisition
As part of its long-term growth strategy, VeeMost redirected funds originally earmarked for the acquisition of a Dallas-based company into strengthening internal operations. After due diligence revealed challenges in securing favorable financing terms — terms that could have resulted in excessive shareholder dilution — the Company chose to reinvest capital into core growth areas to protect shareholder equity. VeeMost remains actively engaged in evaluating other acquisition opportunities under fiscally responsible terms.
Capital was channeled into high-growth areas, including initiating the GSA Schedule approval process with Government Services Exchange (GSE); winning new E-Rate contracts; securing contracts with a company serving the defense sector; forming new vendor partnerships with Vertiv, Nutanix, Lenovo and more; and marketing the newly launched VeeStore platform.
FINRA approval nearing completion
VeeMost resolved legacy SEC reporting gaps dating back to 2006 and other requirements, and is in the final stages of securing FINRA approval for its name change, ticker change and newly approved CUSIP.
“The process has been meticulous, but we are confident that we are now very close to completing this transition. Once finalized, these changes will provide greater transparency, streamline trading access, and strengthen our standing in the public markets.”
— Melvin Ejiogu, President of VeeMost Technologies
Looking ahead
- Expanding the government-contracting business through the GSA Schedule process
- Securing more E-Rate contracts to support schools and educational institutions
- Strengthening cybersecurity and IT services through new vendor partnerships
- Delivering shareholder value through disciplined financial decisions and targeted growth
About VeeMost Technologies Inc.
VeeMost Technologies Inc. (OTC: VMST) is a technology solutions provider offering IT consulting, cloud, cybersecurity, managed services and infrastructure solutions to enterprise and government clients — backed by proprietary platforms including VeeStore, VeeBids and VeeShield. For more information, visit veemost.com.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “estimates,” “projects,” and “intends,” and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially, including the Company’s ability to execute its business strategy, general economic and business conditions, competition, changes in technology, regulatory requirements, and other factors beyond the Company’s control. VeeMost undertakes no obligation to update forward-looking statements except as required by law.
Contact: VeeMost Technologies Inc. · [email protected] · +1 877 862 0307