Mitesco Inc. (MITI)

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This is the plan, and construction has started.

In conjunction with the building permit approval the Board of Directors provided unanimous consent to execute a 7 1/2 year lease. It expects the total buildout costs to be approximately $650,000 and anticipated that the one-time start-up marketing costs will be around $250,000. Diamond noted, “We are comfortable that our funding approaches will support these commitments and looking forward we believe the needs to expand will be met.
“Our current plans are for up to 50 clinics nationwide over the next three (3) years, assuming sufficient funding is available, for a total anticipated financing of up to $50 million, generally using our previously announced Series A Cumulative Perpetual Preferred A stock, which pays a 12% cash dividend. We anticipate the filing of a registration statement which would allow us to make the Series A listed and traded. The Series A is not convertible and we expect that it will trade independently of the common stock. There are currently discussions in process with groups who have already participated in similar clinic operations for urgent care, primary care, and specialized care. The level of interest is gratifying.”