Endonovo And Kodiak Capital Group, LLC Announce Settlement And Dismissal Of Lawsuit
Published: Sep 22, 2017
LOS ANGELES, CA--(Marketwired - September 22, 2017) - Endonovo Therapeutics, Inc. (OTCQB: ENDV) ("Endonovo" or the "Company"), a developer of non-invasive electroceuticals for the treatment of vascular diseases and inflammatory conditions, and Kodiak Capital Group, LLC ("Kodiak"), a private equity firm, today announced a settlement agreement and dismissal of complaints and cross-complaints arising out of a contemplated equity investment by Kodiak in Endonovo.
The claims and cross-claims were negotiated and amicably resolved by the parties without any admission of wrongdoing. Kodiak is returning to Endonovo 2,101,524 shares of common stock of Endonovo, and Endonovo is paying $80,000 to Kodiak from sums deposited with the Court in July 2016 in connection with injunction proceedings. In addition, Endonovo and Kodiak are terminating their Securities Purchase Agreement, Equity Purchase Agreement, and Registration Rights Agreement. Endonovo and Kodiak are also dismissing their claims against each other.
About Endonovo Therapeutics
Endonovo Therapeutics, Inc. is a leading developer of bioelectronic-applications in cell therapies and non-invasive electroceuticals. Endonovo's Immunotronics™ platform is dedicated to treating patients with life-threatening inflammatory conditions in vital organs using proprietary non-invasive electroceutical devices. The Company's non-invasive platform is based on magnetically-induced electrical field pathways that target the disruption of inflammation and cell death.
The Company's Cytotronics™ platform harnesses the bulk electrical properties of cells and tissues, namely magnetically-induced electrical field pathways to expand and enhance the therapeutic potential of cell therapies and produce next-generation biologics.
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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 release.