Business
Endonovo Therapeutics Reduces Debt
Endonovo Therapeutics Reduces Debt.
About this update from Endonovo Therapeutics, Inc.
[{"type":"text","content":"\n 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...