North Star Leasing and Avail Scientific Have Arranged a $25 Million Dollar Lease Finance Facility

Rhea-AI Summary

MOBILE LADS, CORP. (OTC PINK: MOBO) announced a partnership with North Star Leasing to provide $25 million in equipment financing, specifically for EEG medical headsets, enabling healthcare providers in mental health and substance abuse to enhance clinical services. The average headset cost exceeds $30,000, and this financing will streamline the sales cycle from weeks to days, supporting $6 million revenue goals. North Star Leasing, a division of Peoples Bank (NASDAQ: PEBO), funded $135 million in 2022 and aims for $170 million in 2023. Avail targets 700 substance abuse clinics in Florida, emphasizing research in psychedelic medicine.

Positive

• Secured $25 million equipment financing, enhancing cash flow and operational efficiency.
• Potential to expedite sales cycle from weeks to days, aiding revenue generation.
• Targeting over 700 substance abuse clinics in Florida, indicating robust market strategy.

Negative

• None.

TORONTO, ON / ACCESSWIRE / February 23, 2023 / MOBILE LADS, CORP., dba AVAIL SCIENTIFIC (OTC PINK:MOBO)

North Star Leasing is a division of Peoples Bank (NASDAQ:PEBO)

Avail Scientific Corp enables healthcare providers treating mental health and substance abuse to unlock significant clinical value and revenues via ancillary diagnostic services.

"We are proud to announce we have finalized and signed with North Star Leasing to provide up to $25,000,000.00 of equipment financing for our clients. This facility allows our customers to finance the purchase of our EEG FDA approved medical headsets. The average cost of the EEG headsets is over $30k. North Star Leasing facility will reduce our sales cycle from weeks to days. Allowing us to achieve our $6,000,000.00 in revenue goals."

Statement by Gerard Maynard, President, and Chief Revenue Officer for Avail Scientific.

*North Star Leasing is a division of Peoples Bank (NASDAQ: PEBO), founded in 1902, is an Ohio state-chartered bank headquartered in Marietta, Ohio. Peoples Bank is a diversified financial services company that makes available a complete line of banking, trust, investment, insurance, premium financing, and equipment leasing solutions through its subsidiaries.

North Star Leasing funded $135M in 2022 and is projected to fund over $170M in 2023.

Avail Scientific and it's subsidiary Relai Neuro are specifically targeting over 700 substance abuse clinics in Florida. Avail Scientific's (MOBO) mandate is to support psychedelic medicine research and treatments through neurological testing, data analytics, and data management. Avail Scientific works with its subsidiary Relai Neuro providing neurological testing and data management to rehab and mental health treatment centres in Florida.

Avail Scientific www.availscientific.com
North Star www.northstarleasing.com

Contact:

Gerard Maynard
info@availscientific.com
www.availscientific.com
Jason Nadeau
SVP Director of Sales and Marketing
www.northstarleasing.com

Cautionary Note Regarding Forward-looking Statements

NEITHER THE OTC, NOR THEIR REGULATION SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "plans" "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions. In this press release, forward-looking statements relate, among other things, to: the ability of Avail to heighten market and brand awareness and to broaden the Company's growth potential.

Forward-looking statements are based on certain assumptions. While the Company considers these assumptions to be reasonable based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Such assumptions include, but are not limited to: the Company's ability to continue as a going concern; and the Company's ability to grow revenues in the US and global markets.

Also, forward-looking statements necessarily involve known and unknown risks, including without limitation: risks associated with general economic conditions; increased competition in the mobile application and home-services market; the potential risks associated with potential governmental and/or regulatory action with respect to the Company's business; and the ability of the Company to continue generating a profit.

Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

SOURCE: Mobile Lads, Corp.

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https://www.accesswire.com/740506/North-Star-Leasing-and-Avail-Scientific-Have-Arranged-a-25-Million-Dollar-Lease-Finance-Facility

FAQ

What financing did MOBILE LADS, CORP. announce on February 23, 2023?

MOBILE LADS, CORP. announced a $25 million equipment financing agreement with North Star Leasing.

How will the financing impact MOBO's revenue goals?

The financing is expected to help MOBILE LADS achieve its $6 million revenue goals by streamlining the sales process.

What is the average cost of EEG medical headsets mentioned in the press release?

The average cost of the EEG medical headsets is over $30,000.

How much did North Star Leasing fund in 2022 and what is the projection for 2023?

North Star Leasing funded $135 million in 2022 and is projected to fund over $170 million in 2023.

What market is Avail Scientific targeting with its EEG headsets?

Avail Scientific is targeting over 700 substance abuse clinics in Florida.