Replies to post #101 on First Choice Healthcare Solutions Inc (FCHS)

[geodan]

absolutely and they reduced debt today.

MELBOURNE, FL -- (Marketwired) -- 01/10/17 -- First Choice Healthcare Solutions, Inc.(FCHS) , one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of total musculoskeletal solutions with an emphasis on Orthopaedics, including spine care and treatment, today announced that in accordance with the terms set forth in its Loan and Security Agreement (the "Agreement") with CT Capital LTD ("CTC"), CTC has converted $1.4 million in obligations due under the Agreement into 1,866,667 shares of First Choice's common stock.

Chris Romandetti, CEO and President of First Choice, noted, "Aside from the positive impact this debt conversion has had on our balance sheet, it represents a significant vote of confidence by CTC in our Company and future growth strategies. CTC has been a significant supporter of First Choice for the past several years as our primary lender, and now we are delighted to welcome them as one of our single largest shareholders."

The Agreement, dated June 13, 2013, as amended, provided for a $2.5 million accounts receivable line of credit for First Choice Medical Group of Brevard, LLC, a wholly owned subsidiary of First Choice. The Agreement provided CTC with the right to convert up to $2 million of the outstanding line of credit into shares of the Company's common stock at $0.75 per share.