Endonovo Therapeutics Provides Update on Variable Convertible Notes
Endonovo Receives Temporary Restraining Order Against Kodiak Capital,
COR Clearing and BMA Securities
LOS ANGELES, CA -- (Marketwired) -- 06/15/16 --  Endonovo
Therapeutics, Inc. (OTCQB: ENDV) ("Endonovo" or the "Company"), a
developer of bioelectronic medicine and therapies, announced it has
retired two variable conversion rate notes for $55,000 and $50,750
respectively, which the Company believes sets the stage for a new
financing plan. Additionally, the Company announced it has received a
temporary restraining order against Kodiak Capital, COR Clearing and
BMA Securities barring their ability to trade, lend or hypothecate
all the remaining shares under the Equity Purchase Agreement with
Kodiak Capital, including 1.89 million freely traded shares and
215,000 "Commitment Shares" issued to Kodiak Capital.
Additionally, the Company is providing information regarding its
convertible promissory note with Regal Consulting ("Regal" and the
"Regal Note"), which was issued November 30, 2015 and recently
disclosed in an 8-K filing. The Regal Note contains a Leak Out
Provision allowing Regal to sell a maximum of 20% of the given volume
in a given day and prevents Regal from making trades after 3:30 PM
EST. Regal Consulting has assisted the Company with certain corporate
awareness services, including management interviews, direct mail
pieces to shareholders, follow up phone support with shareholders,
and news articles on the Company providing significant value to
When asked to comment, Alan Collier, the Company's Chairman and Chief
Executive Officer, stated, "As a major requirement for securing the
financing required to develop our bioelectronic medicine platform, we
are working with our financial advisor to retire all variable
convertible notes in order to preserve shareholder value and maintain
confidence in our company. The Temporary Restraining Order allows us
to preserve value by removing the 1.89 million shares from our
publicly traded float while we continue to position the company for a
larger round of institutional financing."
About Endonovo Therapeutics
Endonovo Therapeutics, Inc. is an innovative biotechnology company
developing bioelectronic devices and therapies for regenerative
medicine. Endonovo's Immunotronics(TM) platform is a non-invasive,
non-implantable bioelectronic device for treating/preventing vital
organ failure through the reduction of inflammation, cell death and
the promotion of regeneration. Endonovo's Cytotronics(TM) platform
provides for a method of expanding and manipulating cells using
simulated microgravity and Time-Varying Electromagnetic Fields
(TVEMF) for tissue engineering and cell therapies. The Company's
initial concentration is on the treatment of acute and chronic
inflammatory conditions of the liver using its proprietary
Immunotronics(TM) platform.
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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
Investor Relations Contact:
Endonovo Therapeutics, Inc.
Mr. Steven Barnes
Vice President of Investor Relations
(800) 701-1223, Ext. 108