NEW YORK, Feb. 8, 2016 /PRNewswire/ -- S&P Capital IQ (MHFI) announced today that it has commenced Factual Stock Report coverage on PUDO Inc.
PUDO Inc. (OTC: PDPTF) provides delivery solutions for parcel pick-up and drop-off services, ensuring reliable and secure delivery. All PUDO's services are offered on its website and are a full web based service, available over the internet. Using easily-accessible PUDO Point locations such as convenience stores, gas stations and grocery stores with extended hours, PUDO members, participating e-commerce retail consumers, businesses and a home-based workforce can pick up their parcels anytime, including evenings and weekends. With user-friendly technology, free membership and thousands of PUDO Point locations across the U.S. and Canada. PUDO was named one of the top 20 most innovative public technology companies by the Canadian Innovation Exchange in 2015.
My Courier Depot Inc. (MCD) was incorporated under the Ontario Business Corporations Act on December 16, 2013 and domiciled in Canada. Its registered office is situated at 400 Brunel Road, Mississauga, Ontario, Canada, L4Z 2C2. MCD's principal activity is providing E-commerce shipment services through collaboration with specific online retailers for delivery of their products and working with national and international courier companies to provide alternate drop-off and pickup options of packages.
PUDO Inc. (formerly "Grandview Gold Inc.") was a gold exploration company focused on exploring and developing gold properties in gold camps of North and South America. The Company was incorporated under the laws of the Province of Ontario. To date, the Company has not earned significant revenues from gold exploration and was considered to be in the exploration and evaluation stage.
On March 18, 2015, the Company entered into a share exchange agreement to acquire all of the issued and outstanding securities of MCD. Pursuant to the Share Exchange Agreement, the Company's management was replaced with management appointed by MCD and the Company will carry on the business of MCD under the new name of "PUDO Inc."
On July 13, 2015, the Company completed the consolidation of the issued and outstanding common shares of the Company on the basis of one post-consolidation common share for each twenty (20) pre-consolidation common shares and the change of the Company's name to "PUDO Inc."
On July 14, 2015, the Company acquired all of the issued and outstanding shares of MCD on the basis of 8,333.33 Post-Consolidation shares for 1 MCD share. Effective July 14, 2015, the Company issued an aggregate of 10,316,797 shares of the Company to former shareholders of MCD. The Acquisition was accounted for as a reverse takeover whereby MCD was identified as the acquirer for accounting purposes and the comparative figures presented in the unaudited condensed interim consolidated financial statements after the reverse takeover are those of MCD.
On October 1, 2015, PUDO announced a marketing and sales agreement with Canpar Courier. The partnership is for a term of five years, with an option to renew for an additional five years.
S&P Capital IQ's Factual Stock Report coverage on PUDO Inc. will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P Capital IQ research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit www.pudoinc.com for additional information.
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