NEWPORT BEACH, CA — (Marketwired) — 11/03/17 — ORHub, Inc. (OTC: ORHB), an advanced digital software company focused on real-time data analytics, today announces that all series of its outstanding warrants, scheduled to expire on December 31, 2017, will expire in accordance with their terms on such date and will not be further extended.
ORHub currently has approximately 30 million warrants outstanding in five series. As previously announced on June 21, 2017, the Series B and Series D warrants are exercisable at $0.50. The Series C, E, and F Warrants are exercisable at $3.00, $4.00 and $4.00 respectively.
ORHB–s board of directors is reviewing sources of financing, including combinations of debt and equity financings, to further expand the launch of the Company–s software platform into hospitals and hospital systems throughout North America. The board also intends to monitor and review the performance of ORHub–s stock and may potentially reprice the warrants based on current market conditions prior to their expiration.
Since July 1, 2017, ORHub has received approximately $4.7 million in equity and debt financings.
ORHub is an advanced digital software company focused on delivering real time data analytics. The Company–s suite of products serves the needs of the health care industry, hospital, patient, government and the medical device vendor. ORHub provides a cloud-based software solution that captures information before, during and after surgery, filling a void in the current surgical information infrastructure and providing the first process to capture and measure the surgical process — evolving Big Data into Intelligent Digital Data.
ORHub–s software applications allow hospitals and medical device vendors to utilize any web-enabled device to create an anatomical graphic depiction of exactly what occurs during surgery. The application automatically translates the resulting schematic into an intelligent, electronic operative report that links every detail of surgery, including implant location, surgical techniques, product usage, and all clinical parameters to create a dynamically new source of comparative information.
As a result, hospitals and surgeons can make real-time, data driven decisions to improve business profitability and the quality of patient care. This innovative technology results in hospitals understanding costs and identifying areas of cost reductions, as well as results in increased accountability, automatic creation of comprehensive anatomic implant registries, real-time analytics, improved efficiencies, and compliance with existing government regulations. ORHub has offices in Phoenix, Arizona; Newport Beach, California; and Bellevue, Washington.
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This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company–s ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new software product business.
Lanny R. Lang
CFO
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