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Endonovo Therapeutics Announces Effectiveness of Registration of Equity Credit Line and Ceasing Variable Convertible Note Financing

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Los Angeles, CA, July 21, 2020 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV) ("Endonovo" or the "Company"), today announced the Company’s registration statement on Form S-1 relating to its equity credit line with Calvary Fund I LP has been ordered effective by the Securities and Exchange Commission. This equity line reduces the amount of dilution experienced by existing financing measures and allows the Company access to capital without the use of less favorable variable rate convertible notes.

The long-term equity and financing options available to the Company have been significantly improved. Endonovo (ENDV) will not be accepting conversions of variable rate notes as they had in the past, because either: (i) the holders thereof have signed an agreement with Endonovo not convert these notes while the equity credit line is available; or (ii) because the Company is being guided by the SEC’s apparent position that the note holders cannot convert unless they are registered broker dealers. Alan Collier, Endonovo’s Chief Executive Officer, states, “The removal of the downward pressure on our stock associated with the variable rate notes will enable the Company to move forward with planned projects showing the positive benefits of our SofPulse® propriety technology. The Equity Credit line will enable us to begin pre-clinical studies related to COVID-19 for possible new markets, as well as enabling us to initiate digital marketing to promote planned seminars and other events illustrating positive results in the reduction of opioids usage with our SofPulse® product.” Endonovo believes the end of note conversions will be beneficial to our stockholders.

Collier continues, “We are working to position Endonovo to capitalize on our SofPulse® product which has an FDA Clearance and an opportunity to be the model for the standard of care in postoperative recovery moving forward on many surgical procedures including Open Heart Surgery and coronary artery bypass graft, CABG Surgeries, nationwide. Continuing research and development of PEMF (Pulsed Electromagnetic Technology) for uses to combat and offer treatment and benefits for COVID-19 research positions our company to be in the forefront of offering solutions to treatment of damage and other long-term health effects COVID-19 possesses to individuals recovering from the disease.”

About Endonovo Therapeutics

Endonovo Therapeutics, Inc. is a commercial-stage developer of non-invasive 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 non-invasive Electroceutical therapeutic device, SofPulse®, using 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 pre-clinical stage Electroceuticals therapeutic devices address chronic kidney disease, liver disease non-alcoholic steatohepatitis (NASH), cardiovascular and peripheral artery disease (PAD), and ischemic stroke. The Company's non-invasive, wearable Electroceuticals therapeutic devices work by restoring key electrochemical processes that initiate anti-inflammatory and growth factor cascades necessary for healing to occur.

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

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Source: Endonovo Therapeutics, Inc.