ORHub Remains Capitalized & Focused On The Future

Rhea-AI Summary

ORHub (OTC PINK:ORHB) announced significant progress in 2021, amidst preparations for an ambitious 2022. The company reduced debt by over $7.5M, developed a new digital payment platform for biomedical devices, and settled long-standing litigation by surrendering note agreements. ORHub is positioned to launch new products and engage in acquisition discussions, underscoring its commitment to the market and stakeholders. CEO CJ Wiggins expressed confidence in ORHub's potential to revolutionize healthcare through innovative solutions, backed by strategic partnerships.

Positive

• Reduced debt by over $7.5M.
• Developed a first-of-its-kind digital payment process for biomedical devices.
• Engaged in preliminary acquisition discussions, indicating growth potential.
• Successfully settled long-standing litigation with note holders.

Negative

• None.

"ORHub^TM has laid the foundation to support its new business design & 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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Additional upcoming information:
For more on ORHub, visit: www.ORHub.com
Connect with ORHub on LinkedIn: linkedin.com/company/orhub
Follow @ORHub on Twitter: twitter.com/orhub

About ORHub, Inc.

ORHub, Inc. (OTC: ORHB) is headquartered in Irvine, California. The company is focused on the Internet of Things (IoT), creating Intelligent Automation and connected mobility solutions to help revolutionize healthcare for a more sustainable and connected future. ORHub's solutions create intelligent data, activate new and improved methods of managing multi-vendor transaction details, and digitize payments, all of which improve the necessary and undervalued business relationship between hospital customers and supporting medical device and biotech vendors. These solutions are believed to form a valuable foundation for potential new uses of AI, future of quantum computing, and a mobile ecosystem for personalized implant and other patient centered information and accessibility.

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Forward-looking Statements
This release contains forward-looking statements, including the market demand for and acceptance of ORHub's products and services, the results from use of ORHub's products and services, and general business conditions, particularly within the surgical, life science, and medical device industries. Any forward-looking statements contained in this press release are based upon ORHub's historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent ORHub's expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and ORHub disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Further information on potential risks that could affect actual results will be included in future filings made by ORHub and are available on the Company's website at ORHub.com from time to time.

Contact:
Jason Brown
ORHub, Inc.
612-209-7565

© 2021 ORHub, Inc. All rights reserved.

SOURCE: ORHUB, Inc.

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FAQ

What are the recent developments for ORHub (ORHB)?

ORHub has reduced its debt by over $7.5M, developed a new digital payment platform for biomedical devices, and settled long-standing litigation.

How is ORHub preparing for 2022?

ORHub aims to launch new products, continue discussions for acquisitions, and prepare for an audit with plans for up-listing.

What is the future outlook for ORHub (ORHB)?

CEO CJ Wiggins is optimistic about ORHub's ability to innovate and transform the healthcare industry with new technologies.

How has ORHub improved its financial health?

The company has significantly reduced its debt and is focusing on strategic partnerships to enhance its market position.

What is the latest news on ORHub's litigation status?

ORHub has settled with note holders, receiving full releases from associated liabilities.