Guided Therapeutics Inc (GTHP)

[shanak10]

https://finance.yahoo.com/news/guided-therapeutics-makes-final-payment-140500730.html
Wed, January 13, 2021, 9:05 AM EST
Guided Therapeutics, Inc. (OTCQB: GTHP), the maker of the LuViva Advanced Cervical Scan, announced today that it had made the final payment of $750,000 to GPB Capital Holdings, LLC under a cash and equity exchange agreement signed on January 16, 2020. Under the agreement, once the agreed upon cash payments were made, the remaining debt owed to GPB was converted into equity. The final payment also removed any and all security interests over the Company’s assets previously held by GPB and sets all warrants held by GPB at a fixed price, thereby eliminating them as a liability on the Company’s balance sheet. In all, between the cash payment, the equity exchange and the removal of the warrants as a liability, the final $750,000 payment to GPB results in a total of $5,070,000 of liabilities removed from the Company’s balance sheet, compared with the end of the third quarter 2020.

"We are extremely pleased that we were able to make the final payment to GPB and that our assets are no longer encumbered by debt," said Gene Cartwright, CEO of Guided Therapeutics. "Over the past two years, we have reduced our liabilities significantly to a manageable level and can now plan on growing the business without making large debt related monthly payments."

About Guided Therapeutics

Guided Therapeutics, Inc. (OTCQB: GTHP) is the maker of a rapid and painless testing platform based on its patented biophotonic technology that utilizes light for the early detection of disease at the cellular level. The Company’s first product is the LuViva® Advanced Cervical Scan, a non-invasive device used to detect cervical disease instantly and at the point of care. In a multi-center clinical trial with women at risk for cervical disease, the technology was able to detect cervical cancer up to two years earlier than conventional modalities, according to published reports. For more information, visit: