Premier Development & Investment, Inc. Files Its Report For The First Quarter

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Premier Development & Investment, Inc.

May 04, 2021, 06:30 ET

LAS VEGAS, May 4, 2021 /PRNewswire/ -- Premier Development & Investment, Inc. (OTC: PDIV) ("The Company" or "Premier") confirms that it has just filed its First Quarter Report to March 31, 2021. These were filed inclusive of the voluminous "OTC Markets Disclosure Statements".

Your Company recorded a profit of $17,923,807 equating to Earning per Share ("EPS") of $0.072 for this Quarter. Our Stockholder Equity increased to $17,228,234. However we wish to point out that our EBITDA for this Quarter was ($76,193).

On January 1, 2018, we adopted Accounting Standards Update ("ASU") 2016-01 "Financial Instruments— Recognition and Measurement of Financial Assets and Financial Liabilities," Prior year financial statements were not restated.

In adopting ASU 2016-01, as of January 1, 2018, we reclassified the net after-tax unrealized gains on equity securities from accumulated other comprehensive income to retained earnings. Thereafter, the unrealized gains and losses from the changes during the period in the fair values of our equity securities are included within investment gains/losses in the Consolidated Statements of Earnings.

The amount of investment gains/losses in any given quarter is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules.

We draw your attention to the Chairman's Letter included in this Q1 Filing; commencing upon page numbered 28 of this Filing. It sets out our goals, immediate planning and gives a brief but concise insight into our business operations.

Your Company filed its Annual Reports for the periods December 31, 2019 and December 31, 2020 on April 26, 2021. These were filed inclusive of the voluminous "OTC Markets Disclosure Statements".

Upon the filing yesterday evening, of the Q1 Report, all of these Reports will be reviewed by outside Counsel in order to prepare the required Attorney Letter.

This documentation is then reviewed by OTC Markets Group Compliance and upon their satisfactory completion; the Company will be PINK CURRENT on the OTC Markets.

We stress again that shareholders should be cautious in the trading our Company's shares; given it's currently very low "float". Yesterday's closing price was unrealistic and the Company does not at this time warrant a valuation that it is currently trading at.

ABOUT PREMIER:-

Premier holds claims to Rare Earth Mining Exploration Properties in New Mexico, has options over Oil & Gas Wells in Oklahoma and holds some 37.68% of the outstanding Common Stock of GNCC Capital, Inc. (OTC: GNCP) which gives Premier an indirect exposure to their claims to Gold and Silver Mining Exploration Properties.

Forward-Looking Statements:-

This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.

Contact Information:

BOARD OF DIRECTORS

PREMIER DEVELOPMENT & INVESTMENT, INC.

Telephone: (702) 992- 0494

E Mail: [email protected]

Investor Relations Contact:

E Mail: [email protected]

Twitter: @premier-pdiv

SOURCE Premier Development & Investment, Inc.