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8.01 – Other Events
FORKED RIVER, NJ – Friday, October 9, 2023 – Dream Homes & Development Corporation (OTC: DREM) announces the following developments to the business.
| 1. | The Company recently had two non-binding arbitration awards assessed against its subsidiary, Shore Custom Homes Corp. Though the Company considers these lawsuits to be frivolous, it is inclined to disclose their existence in the interest of full disclosure. | |
| 2. | The Company is vigorously defending these lawsuits and it expects to prevail in court. | |
| 3. | In the opinion of the Company, neither lawsuit has any validity or potential for material consequence to the Company. | |
| 4. | All other normal operations of the Company and its subsidiaries are continuing with no effect from these lawsuits. |
Dream Homes CEO Mr. Vincent Simonelli stated, “Calendar year 2023 has been positive for Dream, with solid growth in both our custom and new home development areas of the business.
We remain positive about ongoing developments in other areas of the Company.”
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dream Homes & Development Corp. | |
| /s/ Vincent Simonelli | |
| Vincent Simonelli, President & CEO | |
| Date: October 10, 2023 |