Global Diversified Industries Inc. (OTCBB: GDVI)
CHOWCHILLA, Calif., Nov. 17 /PRNewswire-FirstCall/ — Global Diversified Industries, Inc. (OTC Bulletin Board: GDVI – News), focused on the modular building industry with emphasis on the education market (http://www.gdvi.net), is pleased to report that the recent passage of Bond Measure Proposition 1D by California voters means an improvement bond of $10.4 billion will be used to upgrade facilities at the nearly 8,000 schools throughout the state.
It is estimated that more than 6,500 new kindergarten through grade 12 classrooms will be built with the funds along with 3,000 new community college classrooms. The Coalition for Adequate School Housing (CASH), which closely monitors this situation in the state, says: “There are a half million children born in California every year and 6.5 million students are already in our public school system. Many school districts are severely overcrowded. Students are trying to learn in schools that house some 75 percent more students than they were built to accommodate. The passage of Proposition 1D means overcrowding will be relieved, reducing class sizes and giving students a real opportunity to learn.”
Many of the larger counties in California, including Los Angeles, San Diego, San Bernardino and Contra Costa, also passed local bond measures in the recent election that will allow them to receive matching funds from the state for their school facility improvement projects.
Phil Hamilton, CEO, Global Diversified Industries, said that the “passage of these bond measures could have a significant, positive impact on our revenues and profits in the final quarters of the current fiscal year and beyond. We are tailoring our sales and marketing efforts to accommodate these school districts, community colleges and vocational schools that need an immediate solution for their overcrowding problems.”
Mr. Hamilton continued: “Once district officials complete the appropriate paperwork and forward it to the state for approval, they will begin receiving appropriated funds. We are anticipating a heavy volume in new business opportunities during the next 12 months and thereafter.”
About Global Diversified Industries, Inc.
Global Diversified Industries, Inc. is a holding company whose subsidiary Global Modular, Inc. is engaged in the modular construction marketplace with an emphasis on educational projects. It incorporates the latest in construction software, allowing it to better manage projects incorporating cost vs. profit ratios, construction and manufacturing schedules, purchasing, receiving and other facets of industrial management. The Company’s work is found in Northern and Southern California, with numerous projects planned for school systems throughout the state.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release. For investor information contact:
Paul Knopick
949-707-5365
pknopick@eandecommunications.com
Source: Global Diversified Industries, Inc.
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