ORLANDO, Fla., Feb. 03, 2020 (GLOBE NEWSWIRE) -- AVRA Medical Robotics, Inc. (the “Company”) (OTCQB: AVMR), a medical software and artificial intelligence company building a fully autonomous medical robotic system combining artificial intelligence, machine learning and proprietary software, today announces that it has paid off almost all of its external corporate debt, including accrued interest.
With the exception of loans from the CEO and a loan note for $25,000 due December 31, 2020, the Company has now cleared all its outstanding external debt, with one note of $25,000 being converted into shares at $1.50 per share and the remainder being repaid in full with accrued interest.
Mr Cohen, AVRA CEO, said, “The repayment of all this Company debt provides further stability to the company’s finances, allowing us to focus on our medical software procedure program and the development of our Autonomous Robotics Surgical System. The potential of our robotic systems is to perform operations with greater precision than human hands are capable of.”
| Contacts: | Barry Cohen |
| AVRA Medical Robotics, Inc. | |
| Chairman and CEO | |
| bcohen@avramedical.com |
Note to Editors:
About AVRA Medical Robotics
AVRA Medical Robotics, Inc., (OTCQB: AVMR) is empowering doctors and the practice of surgery through the use of software and artificial intelligence. AVRA, with a research agreement in place with the University of Central Florida known for its advances in robotics and guidance systems, is developing a fully autonomous surgical robotic system that “robotizes” a wide range of surgical procedures currently being performed by human hands using surgical and non-surgical devices and instruments. AVRA is concentrating its research and development efforts to meet rising expectations of patients and practitioners alike for the precision, efficiencies and safety offered by robotics, artificial intelligence and proprietary software when combined with proven medical devices and surgical instruments. AVRA’s current focus is developing a treatment-independent precision guidance system, applicable to a variety of minimally and non-invasive procedures, to leverage the growing demand for practical medical robotic devices, with an initial focus on skin resurfacing aesthetic procedures.
For more information visit the company’s website at www.avramedical.com.
Forward Looking Statements
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