forward strategy."
IRVINE, CA / ACCESSWIRE / November 23, 2021 / ORHub, Inc. (OTC PINK:ORHB) provides a 2021 update and announces the Company is prepared to accelerate its agenda in 2022. "We continue to perform and over the last year, have made huge commitments, and taken all necessary steps to successfully protect our shareholders, the company, and our team," shared CJ Wiggins, MBA - ORHub Founder, Executive Chairman, President, & CEO. "There are more opportunities today than ever in our industry, and I am confident in the future of ORHub to change business for good."
It has been a busy 2021 for ORHub. While continuing to generate revenue with current technologies, ORHub reduced its debt by over $7.5M. Retaining an Irvine-based, Microsoft Gold Partner, the company has developed a new platform delivering a first-of-kind digital payment process and life cycle management of surgically implanted biomedical devices.
In addition to new product developments, ORHub retained former SEC & accounting firms and met new SEC reporting requirements. While divesting ORHub's old technology, SugicalSpotlight, the company identified and engaged in preliminary discussions for an acquisition target with potential short- and long-term value.
ORHub entered into a binding "Settlement Agreement" with Note Holders, in turn receiving the Note Holders' complete surrender of all Note Agreements. ORHub delivered on all settlement requirements and received Note Holders' full release of any & all liabilities. With these actions taken, ORHub filed a "Motion to Enforce Settlement" for the "withdrawal, with prejudice" of long-standing litigation.
"I cannot express the level of gratitude I have for the commitment and performance delivered by our team over the past 18 months. They have energetically pursued our business goals and persistently innovated our new product developments, which has enabled the company to return to financial health," commented Mr. Wiggins.
On the trajectory and focus of the company, Mr. Wiggins states, "I am committed to the stakeholders and our opportunity to impact society for the better. With our significant reduction in debt and support from our strategic partners, I am confident we will meet our new year's goals to launch product, continue acquisition discussions, and preparing for our audit and plans for up-listing."
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