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EX-99.3 - PRESS RELEASE DATED NOVEMBER 3, 2016 - H-CYTE, INC. | ex-successfullab.htm |
EX-99.2 - PRESS RELEASE DATED NOVEMBER 2, 2016 - H-CYTE, INC. | ex-glp.htm |
8-K - PRIMARY DOCUMENT - H-CYTE, INC. | mdvx8k_nov2016.htm |
Exhibit 99.1
Nasdaq Grants Medovex Corporation Extension to Comply with the
Stockholders’ Equity Requirement
ATLANTA, GA--(Marketwired – November 1,
2016) - Medovex Corp. (NASDAQ: MDVX), a
developer of medical technology products, today announced that the
Nasdaq Stock Market has granted the Company an extension until
February 27, 2017 plan to regain compliance with Nasdaq Listing
Rule 5250(c)(1) which will permit the continued listing of
Medovex’s stock on the Nasdaq Stock
Market.
As
previously reported on August 30, 2016, Medovex received a letter
notifying the Company that the stockholders’ equity of
$1,311,796 as reported in the Company’s Quarterly Report on
Form 10-Q for the quarter ended June 30, 2016 was below the minimum
stockholders’ equity of $2,500,000 required for continued
listing on the NASDAQ Capital Market as set forth in NASDAQ listing
rule 5550(b)(1) (the “Rule”). The decline in the
Company’s stockholders’ equity was largely a result of
the recognition of an impairment loss recorded in the
Company’s Form 10-Q for the quarter ended June 30, 2016
related to the intangible assets of Streamline Inc., the
Company’s wholly owned subsidiary acquired in March
2015.
Nasdaq
requested that Medovex submit a plan to regain compliance with
Nasdaq listing rules within 60 days.
On
October 14, 2016, Medovex submitted to Nasdaq a plan to regain
compliance with Nasdaq listing rules. After reviewing
Medovex’s plan to regain compliance, Nasdaq granted an
extension to enable the Company to regain compliance with the
listing rules. Under the terms of the extension, Medovex must on or
before February 27, 2017, complete a stockholders’ equity
raising transaction, or other event, and evidence compliance by
furnishing to the SEC and Nasdaq in a publicly available report
detailing such actions to regain compliance. In the event that
Medovex does not satisfy the terms set forth in the extension,
Nasdaq will provide written notification that Medovex’s
securities will be subject to delisting proceedings. At that time,
Medovex may appeal Nasdaq's determination to a Listings
Qualification Panel.
About Medovex
Medovex was formed to acquire and develop a
diversified portfolio of potentially ground breaking medical
technology products. Criteria for selection include those products
with potential for significant improvement in the quality of
patient care combined with cost effectiveness. The Company's first
pipeline product, the DenerveX™ Device, is intended to
provide long lasting relief from pain associated with facet joint
syndrome at significantly less cost than currently available
options. To learn more about Medovex, visit www.medovex.com
Safe Harbor Statement
Certain
statements in this press release constitute "forward-looking
statements" within the meaning of the federal securities laws.
Words such as "may," "might," "will," "should," "believe,"
"expect," "anticipate," "estimate," "continue," "predict,"
"forecast," "project," "plan," "intend" or similar expressions, or
statements regarding intent, belief, or current expectations, are
forward-looking statements. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties,
including without limitation those set forth in the Company's
filings with the Securities and Exchange Commission (the "SEC"),
not limited to Risk Factors relating to its patent business
contained therein. Thus, actual results could be materially
different. The Company expressly disclaims any obligation to update
or alter statements whether as a result of new information, future
events or otherwise, except as required by law.
CONTACT INFORMATION
●
Medovex
Corp
Jason
Assad
470-505-9905
Jassad@medovex.com