Endonovo Therapeutics Awarded Preliminary Injunction Against Kodiak Capital et al
Company Seeks a Permanent Injunction Against Sale, Lending, Hypothecating or Transfer of Freely-Traded Unpaid for Shares
(firmenpresse) - LOS ANGELES, CA -- (Marketwired) -- 06/23/16 -- (OTCQB: ENDV) ("Endonovo" or the "Company"), a developer of bioelectronic medicine and therapies, announced it has been awarded a preliminary injunction by the Superior Court of California, County of Los Angeles, against Kodiak Capital, BMA Securities and COR Clearing, preventing the aforementioned parties from selling, transferring, hypothecating or otherwise touching or disposing of unpaid for shares tendered under the Equity Purchase Agreement (the "EPA") with Kodiak Capital. The preliminary injunction affirms a previously granted temporary restraining order placed on over 1.89 million shares of freely traded shares of common stock.
"We now have a preliminary injunction preventing the possible use of these unpaid for shares manipulating the market for our common stock," stated Endonovo Chairman and CEO, Alan Collier. "We intend to continue pursuing our rights through this lawsuit to protect our shareholders'' value. We have brought this lawsuit to seek the cancellation or return of these unpaid shares to the Company and for other damages. We believe that success in these efforts will increase the likelihood of securing a larger round of financing and ensure a transparent market for our common stock thus preserving shareholder value."
Mr. Collier went on to say, "The Company intends to learn if these unpaid shares were utilized to manipulate the market price of our stock. Further, we plan to judiciously pursue our legal remedies to ensure our shareholders do not incur any damages and our stock price returns to appropriate levels."
Endonovo Therapeutics, Inc. is an innovative biotechnology company developing bioelectronic devices and therapies for regenerative medicine. Endonovo''s Immunotronics™ 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™ 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™ platform.
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.
Investors: on Endonovo
Endonovo Therapeutics, Inc.
Mr. Steven Barnes
Vice President of Investor Relations
(800) 701-1223, Ext. 108
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Datum: 23.06.2016 - 03:02 Uhr
Sprache: Deutsch
News-ID 1443251
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