Los Angeles, CA, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV) ("Endonovo" or the "Company") today announced that it had filed a preliminary information statement with respect to a proposed a reverse stock split of its common stock at a ratio of between 1 for 100 and 1-for-1,000. The effectiveness of the proposed reverse stock split is contingent upon final clearance by the SEC of the Information Statement, mailing of the information statement and a twenty-day waiting period, a decision by our sole director as the final ratio of the reverse stock split, filing of a certificate of amendment to our certificate of incorporation and review of the proposal by FINRA. Accordingly we can give no information as to the timing and the ration of the eventual reverse stock split or whether it might actually occur.
Alan Collier, CEO of Endonovo Therapeutics stated, “This reverse stock split is an important step in our future and our goal for growing the company and creating long-term shareholder value and attracting a broader, more diverse shareholder base, especially in light of the SofPulse® sales and our national rollout.”
Endonovo’s common stock will trade under the ticker symbol "ENDVD" for a period of 20 trading days after the reverse stock split has been affected in the marketplace, and the common stock will also trade under a new CUSIP which we cannot obtain until after the filing of the certificate of amendment
No action is required of any shareholder at this time.
About Endonovo Therapeutics
Endonovo Therapeutics, Inc. 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