BELLEVUE, Clean.–(Small business WIRE)–Apr 14, 2021–
Novo Integrated Sciences, Inc. (NASDAQ:NVOS) (the “Company” or “Novo Integrated Sciences”), a service provider of multidisciplinary primary health care, currently documented fiscal results for its fiscal 2nd quarter time period ended February 28, 2021.
The adhering to is of notice:
- Revenues for the a few months finished February 28, 2021 ended up $2,075,894, symbolizing a lessen of $352,970, or 14.5%, from $2,428,864 for the very same time period in 2020. The reduce in revenue is principally because of to the relative lessen in client clinic visits owing to the COVID-19 pandemic.
- Running expenses for the three months ended February 28, 2021 have been $2,077,390, representing an enhance of $1,083,618, or 109.%, from $993,772 for the exact time period in 2020. The improve in functioning costs is principally because of to an raise in amortization of intangible assets, popular inventory issued for companies, which include services similar to our effective uplist to the Nasdaq Money Marketplaces, income expenditure due to the selecting of senior level executives, and legal charges associated to the Company’s Nasdaq listing and filing of the Company’s registration assertion on Type S-3.
- Internet loss attributed to Novo Integrated Sciences for the 3 months finished February 28, 2021 was $1,339,870, or $.06 for every share, symbolizing an raise of $835,386, or 165.6%, from $504,484, or $.02 for every share, for the exact same period of time in 2020. The improve in internet loss is principally because of to a 14.5% drop in profits and an increase in functioning bills.
- As of February 28, 2021, the Company’s funds and dollars equivalents was $1,698,437, whole belongings had been $34,856,673, full liabilities had been $5,721,884, and stockholders’ fairness was $29,134,789.
Robert Mattacchione, the Company’s CEO and Board Chairman, said, “Even with the consequential impression of the COVID-19 international pandemic having now challenged our organization for over one year, our income for the fiscal 12 months 2021 2nd quarter is down only 14.5% in contrast to the exact same time period in 2020. Our full group has risen to the challenge and shown great versatility and capacity to adapt. Although the present surroundings remains demanding, we believe our economical situation is solid and we appear in advance to the remainder of 2021 with optimism and determination to growth.”
Novo Built-in Sciences’ current milestones:
- Efficient January 26, 2021, the Corporation appointed 3 new unbiased directors to provide on each its Board of Administrators and the recently shaped Audit Committee.
- Effective February 23, 2021, the Firm productively uplisted to the Nasdaq Funds Market place.
- On March 22, 2021, the SEC declared effective the Company’s registration statement on Type S-3 (File No. 333- 254278) (the “Form S-3”). The Form S-3 is a shelf registration assertion relating to (i) the offer from time to time of securities getting a greatest mixture supplying price of $75,000,000, and (ii) the resale by particular marketing stockholders of up to an combination of 597,352 shares of the Company’s prevalent inventory.
- On April 13, 2021, the Enterprise accomplished the closing pursuant to a securities buy agreement with specified accredited institutional buyers to obtain somewhere around $8. million of its frequent inventory in a registered direct presenting below Sort S-3 and warrants to invest in widespread inventory in a concurrent non-public placement. The combined obtain value for one particular share of popular inventory and a single warrant is $3.35.
About Novo Integrated Sciences, Inc.
Novo Integrated Sciences, Inc. owns Canadian and U.S. subsidiaries which produce, or intend to supply, multidisciplinary key overall health treatment related solutions and products by means of the integration of medical technologies, sophisticated therapeutics and rehabilitative science. Our clinicians and practitioners are not licensed to follow most important treatment medicine and they are not medically certified to prescribe pharmaceutical centered merchandise methods.
Currently, the Company’s profits is created only by our Canadian subsidiary, Novo Healthnet Restricted (“NHL”). NHL’s crew of multidisciplinary key health treatment clinicians and practitioners deliver assessment, diagnosis, treatment method, soreness administration, rehabilitation, education and learning and primary prevention for a extensive array of orthopedic, musculoskeletal, sports damage, and neurological ailments across numerous demographics including pediatric, grownup, and geriatric populations by means of NHL’s 16 company-owned clinics, a contracted community of affiliate clinics, and eldercare associated long-phrase treatment residences, retirement households, and community-dependent destinations in Canada.
Our specialized multidisciplinary principal health treatment solutions contain, but are not limited to, physiotherapy, chiropractic treatment, manual/manipulative remedy, occupational therapy, eldercare, therapeutic massage treatment (which include pre- and post-partum), acupuncture and functional dry needling, chiropody, stroke and traumatic brain harm/neurological rehabilitation, kinesiology, vestibular therapy, concussion management and baseline tests, trauma sensitive yoga and meditation for concussion-obtained brain personal injury and occupational anxiety-PTSD, women’s pelvic well being packages, athletics drugs remedy, assistive products, dietitian, holistic diet, slide avoidance training, sports activities group conditioning applications which includes party and recreation coverage, and non-public private schooling.
We imagine that “decentralizing” health care, by means of the integration of medical engineering and interconnectivity features an critical resolution to the essential transformation of health care delivery. Specific to non-important care, ongoing breakthroughs in the two medical technologies and inter-connectivity are allowing for for a change of the client/practitioner marriage to the patient’s dwelling and absent from on-web-site visits to primary medical centers with mass-companies. This acceleration of “ease-of-access” in the affected person/practitioner conversation for non-critical care diagnosis and subsequent procedure minimizes the degradation of non-important wellness disorders to essential ailments as perfectly as enabling for additional charge-efficient health care distribution.
This press release contains ahead-looking statements inside of the this means of Area 27A of the Securities Act of 1933, as amended, and Portion 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical information incorporated in this push launch are ahead-hunting statements. In some conditions, forward-searching statements can be discovered by words these kinds of as “believe that,” “intend,” “expect,” “foresee,” “strategy,” “potential,” “continue” or related expressions. These forward-on the lookout statements consist of dangers and uncertainties, and there are essential aspects that could induce actual outcomes to differ materially from individuals expressed or implied by these ahead-seeking statements. These factors, challenges and uncertainties are reviewed in Novo Integrated Sciences’ filings with the Securities and Trade Commission. Investors need to not put any undue reliance on forward-wanting statements given that they contain known and unknown, uncertainties and other things which are, in some circumstances, further than Novo Built-in Sciences’ command which could, and most likely will, materially have an affect on true final results, concentrations of activity, overall performance or achievements. Any forward-seeking assertion reflects Novo Built-in Sciences’ present-day views with regard to potential occasions and is subject to these and other risks, uncertainties and assumptions relating to operations, success of functions, growth tactic and liquidity. Novo Integrated Sciences assumes no obligation to publicly update or revise these ahead-searching statements for any cause, or to update the explanations true final results could vary materially from individuals expected in these ahead-looking statements, even if new info turns into obtainable in the foreseeable future. The contents of any website referenced in this push release are not included by reference herein.
Make contact with: Chris David, President
Novo Built-in Sciences, Inc.
Search phrase: UNITED STATES NORTH The usa WASHINGTON
Field Keyword: Basic Health and fitness Health OTHER Wellbeing
Source: Novo Integrated Sciences, Inc.
Copyright Enterprise Wire 2021.
PUB: 04/14/2021 04:05 PM/DISC: 04/14/2021 04:05 PM
Copyright Enterprise Wire 2021.