FRISCO, Texas, Sept. 14 /PRNewswire-FirstCall/ -- Assured Pharmacy (Pink Sheets:APHY.pk - News), a pharmacy service healthcare organization operating a chain of specialty pharmacies providing advanced prescription medication fulfillment solutions to sufferers of chronic pain, is pleased to announce that it has received $500,000 of debt financing from an existing shareholder which can be converted in whole or in part anytime over the 2 year term at the holder's option into a maximum of 500 shares of the Company's Series A Preferred Stock. Interest on the debt, which is payable in shares of the Company's Common Stock, accrues on the unconverted principal amount outstanding from time to time at the rate of ten percent (10%) per annum and is payable to the holder on a quarterly basis and on the maturity date, which is July 20, 2012.
This financing is supporting the Company's ongoing business expansion and investment into solidifying its supply chain of prescription medications. "We believe that this investment from our existing shareholder validates their confidence in our business model and supports our corporate actions enacted over the past 18 months," stated Mr. Robert DelVecchio, Chief Executive Officer of Assured Pharmacy. "We are very pleased to have the support of this investment as we enter the next phase of our business model. As we lay the foundation for expanding our pharmacy footprint into new markets, improving our financial position with suppliers is critical and this financing furthers that requirement. We expect to provide further updates shortly and are pleased to have secured this financing arrangement in an economic cycle which proves difficult to secure funds on favorable terms."
About Assured Pharmacy
Assured Pharmacy, Inc. is a growing chain of specialty pharmacies that provide advanced prescription services to a diverse array of medical professionals and their patients. Assured Pharmacy is committed to providing these physicians and patients with a better prescription process through four community locations. This enhanced process is achieved by blending our specialized service model with focused pharmacology. Our business model targets physicians specializing in pain management – anesthesiology, orthopedics, neurology, oncology, psychiatry, physical rehabilitation and industrial medicine. The focus is on treating patients with long-term, acute, chronic pain conditions.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company's ability to increase revenue and profits in the current economic climate; the effect of changing economic conditions; lack of sufficient financing for opening new pharmacies; inability to manage growth; and changes in government regulations, controls and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
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