NEWPORT BEACH, Calif., Jan. 10, 2018 (GLOBE NEWSWIRE) -- ORHub, Inc. (OTC:ORHB), an advanced medical software provider focused on real-time digital data analytics, today announces it has received gross proceeds of $3,860,000 from the exercise of warrants prior to their expiration on December 31, 2017. The Company had previously announced a Special Exercise Price of $0.35 for all series of warrants outstanding. All warrants issued by the company have now been exercised or expired as of year-end 2017.
“ORHub is privileged to have strong support from our investor community as demonstrated by the successful warrant exercise,” said Colt Melby, CEO of ORHub. “This additional capital will help our expansion efforts as we scale the ORHub software platform nationwide.”
Since July 1, 2016, the Company has raised the capital to allow for the transition from a development stage company into a revenue generating service provider.
Upon the closing of the year, all series of warrants set to expire eliminated the resulting overhang on the Company’s capital structure, positioning the structure for clean appreciation as revenues and ultimately earnings increase.
"We believe that we are standing on the threshold of a new age in medical systems technology. It’s beyond reason that this market has remained so unpenetrated,” said Melby. “Nevertheless, we are pleased with the magnitude of opportunity in this industry and have worked diligently to get to this point. It’s very exciting to get a strong start for 2018."
About ORHub, Inc.
ORHub is an advanced surgical software provider focused on real-time surgical data analytics. The Company's suite of products serves the needs of the health care industry, hospital, patient, government and the medical device vendor. ORHub provides a cloud-based software solution that captures information before, during and after surgery, filling a void in the current surgical information infrastructure and providing the first process to capture and measure the surgical process -- evolving Big Data into Intelligent Digital Data. ORHub's software applications allow hospitals and medical device vendors to utilize any web- enabled device to create an anatomical graphic depiction of exactly what occurs during surgery. The application automatically translates the resulting schematic into an intelligent, electronic operative report that links every detail of surgery, including implant location, surgical techniques, product usage, and all clinical parameters to create a dynamically new source of comparative information.
As a result, hospitals and surgeons can make real-time, data driven decisions to improve business profitability and the quality of patient care. This innovative technology results in hospitals under- standing costs and identifying areas of cost reductions, as well as results in increased accountability, automatic creation of comprehensive anatomic implant registries, real-time analytics, improved efficiencies, and compliance with existing government regulations. ORHub has offices in Phoenix, Arizona; Newport Beach, California; and Bellevue, Washington.
For more information, visit www.ORHub.com
Forward-Looking Statements: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company's ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new software product business.
ORHub Contact:
Lanny Lang, CFO
Lanny.Lang@ORHub.com
9830 S. 51st St., Suite A-128
Phoenix, AZ 85044 844.545.4508 x 403
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