HealthLynked Corp. Retires Three Convertible Notes for a Total Amount Due of $588,453 Prior to Conversion

Rhea-AI Summary

HealthLynked Corp. (OTCQB: HLYK) announced on September 8, 2020, the retirement of three convertible notes amounting to $588,453. This strategic move eliminates the potential for market conversion of these shares and is viewed as a prudent use of funds from Dr. Dent's recent equity investment. CFO George O'Leary emphasized that this strengthens the balance sheet, reduces dilution, and positions the company favorably for future announcements.

Positive

• Retired three convertible notes totaling $588,453, enhancing financial stability.
• Eliminated potential dilution by restricting future conversions.
• Strengthened balance sheet with strategic use of recent equity investment.

Negative

• None.

NAPLES, Fla., Sept. 8, 2020 /PRNewswire/ -- HealthLynked Corp. (OTCQB: HLYK), a global healthcare network focused on care management for its members and a provider of healthcare technologies that connects doctors, patients and medical data, today announced that it has retired three of its convertible notes for a total amount due of $588,453 thus eliminating the ability of these shares to be converted into the market.

George O'Leary, HealthLynked's CFO stated, "With the Company's strong cash position from Dr. Dent's recent equity investment, we selected and prepaid three convertible notes for a total amount due of $588,453 before they matured or were able to convert. We decided that paying off these convertible notes now was a responsible and prudent use of the newly invested funds. HealthLynked will continue to evaluate the remaining convertible notes with the intention of satisfying our obligation prior to maturity and potential future conversions and has no intention of using this type of capital again in the future. We believe this strengthens our balance sheet, eliminates unnecessary dilution, and will allow our stock to respond favorably to announcements in the months ahead."

About HealthLynked Corp.

HealthLynked Corp. provides a solution for both patient members and providers to improve healthcare through the efficient exchange of medical information. The HealthLynked Network is a cloud-based platform that allows members to connect with their healthcare providers and take more control of their healthcare. Members enter their medical information, including medications, allergies, past surgeries and personal health records, in one convenient online and secure location, free of charge. Participating healthcare providers can connect with their current and future patients through the system. Benefits to in-network providers include the ability to utilize the HealthLynked patent pending patient access hub "PAH" for patient analytics. Other benefits for preferred providers include HLYK marketing tools to connect with their active and inactive patients to improve patient retention, access more accurate and current patient information, provide more efficient online scheduling and to fill last minute cancelations using the Company's "real time appointment scheduling" all within its mobile application. Preferred providers pay a monthly fee to access these HealthLynked services. For additional information about HealthLynked Corp., please visit www.healthlynked.com  and connect with HealthLynked on Twitter, Facebook, and LinkedIn.

Forward Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, including as a result of any acquisitions, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by our management, and us are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other

forward-looking statements. Certain risks and uncertainties applicable to our operations and us are described in the "Risk Factors" section of our most recent Annual Report on Form 10-K and in other filings we have made with the U.S. Securities and Exchange Commission. These reports are publicly available at www.sec.gov.

Contacts:

George O'Leary
Chief Financial Officer
goleary@healthlynked.com
+1 (800) 928-7144, ext. 99

Investor Relations Contacts:

Stephanie Prince
PCG Advisory Group
sprince@pcgadvisory.com
+1-646-762-4518

Jim Hock
Hanover International Inc.
jh@hanoverintlinc.com
+1-760-564-7400

View original content:http://www.prnewswire.com/news-releases/healthlynked-corp-retires-three-convertible-notes-for-a-total-amount-due-of-588-453-prior-to-conversion-301124659.html

SOURCE HealthLynked Corp.

FAQ

What did HealthLynked Corp. announce on September 8, 2020?

HealthLynked Corp. announced the retirement of three convertible notes totaling $588,453.

How does retiring convertible notes affect HealthLynked Corp.'s stock?

Retiring convertible notes strengthens HealthLynked's balance sheet and reduces the potential for share dilution.

What is the total amount of convertible notes retired by HealthLynked Corp.?

HealthLynked Corp. retired convertible notes totaling $588,453.

What is the significance of the convertible notes retirement for HLYK investors?

This move is expected to enhance investor confidence by minimizing dilution and improving financial stability.