Los Angeles, CA, Feb. 04, 2020 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV) ("Endonovo" or the "Company") is pleased to announce the reduction of current liabilities and restructuring of the balance sheet through the approved modification of the terms of the Preferred C shares. Through the amended terms in the Amended and Restated Certificate of Designation of the Series C Secured Redeemable Preferred Stock.
Endonovo Therapeutics CEO Alan Collier stated, “Strengthening our balance sheet is a priority we feel is instrumental in our continued and long-term success. This reduction of debt provides us the flexibility to expand our sales and marketing initiatives and to further develop our nationwide reach to hospitals and other medical facilities we have identified as prospective partners without having financial restraints. Additionally, reducing the debt increases our shareholder equity which is another step towards our goal of attaining Nasdaq listing requirements as we look to uplist.” Collier further states, “Positioning our company by restructuring and reducing debt will allow us to be in a better position to grow rapidly and capitalize on the increased market growth we are experiencing and will continue to experience.”
Details regarding the modification of the Preferred C Shares are included in Endonovo’s 8K report filed with the Securities and Exchange Commission on February 3, 2020.
About Endonovo Therapeutics Inc.
Endonovo Therapeutics is a commercial-stage developer of noninvasive wearable Electroceuticals® therapeutic devices. The Company's current portfolio of commercial and clinical-stage wearable Electroceuticals® therapeutic devices addresses wound healing, pain, post-surgical pain and edema, cardiovascular disease, chronic kidney disease, and central nervous system (CNS) disorders, including traumatic brain injury (TBI), acute concussions, post-concussion syndrome and multiple sclerosis. The Company's noninvasive Electroceutical® therapeutic device, SofPulse®, which uses pulsed short-wave radiofrequency at 27.12 MHz, has been FDA-cleared and CE marked for the palliative treatment of soft tissue injuries and post-operative pain and edema and has CMS national coverage for the treatment of chronic wounds. The Company's current portfolio of preclinical-stage Electroceuticals® therapeutic devices addresses chronic kidney disease, liver disease non-alcoholic steatohepatitis (NASH), cardiovascular and peripheral artery disease (PAD), and ischemic stroke. The Company's noninvasive, wearable Electroceuticals® therapeutic devices work by restoring key electrochemical processes that initiate anti-inflammatory and growth factor cascades necessary for healing to occur. www.endonovo.com.
Safe Harbor Statement
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. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks 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.
Investor Relations Contact:
Endonovo Therapeutics, Inc.
Mr. Andrew Barwicki
516-662-9461
Andrew@barwicki.com
www.endonovo.com