Titanium Healthcare, Inc. Provides Update Regarding Annual 10K Report
Austin, TX, July 31, 2016 --(PR.com)-- Titanium Healthcare, Inc. (OTCQB: TIHC) ("Titanium") today announced that the continued delay in the filing of the Company's annual report on Form 10-K, which was due on April 15, 2016, is due to the challenges surrounding the following, which management has been addressing:
-Recent departures of the company's chief financial officer and chief development officer
-Continuing challenges in expected volume and the overall depressed healthcare reimbursements
-Prioritizing limited resources to focus on supplementing the healthcare business model and attract additional investor capital.
In the 2015 Form 10-K, the Company looks forward to reporting progress in its revised business model to offset what are expected to be lower revenues from 2015 compared to 2014.
Capital Raising Efforts:
The Company is seeking additional equity capital from private investors to improve the Company’s working capital deficit and to finance the strategic joint venture projects described above. The Company is also exploring potential opportunities for mergers, acquisitions or divestitures that could add management talent, expand capital or access to capital and/or result in synergistic revenue enhancement, which will ultimately increase shareholder value.
"These actions are necessary, require strong leadership and should allow the Company to complete the platform required for our continued growth," stated Kamran Nezami, Chairman of the Board. "While we regret the erosion of confidence with our shareholders due to our filing delays, we are committed to our business strategies and our ability to expand our business into technology and supercomputing service offerings. Once we become current in our filings, we are confident that we will be able to provide our shareholders with a much better understanding of our performance and future growth opportunities."
About Titanium
Titanium is currently a healthcare ancillaries and life science company focused on improving patients’ lives through “personalized medicine” and “prevention of prescription drug abuse” initiatives through its pharmacy and lab. In the fall of 2015 new joint ventures were announced with strategic partners in the science and technology industries which are expected to expand the Company into new industries such as aerospace & defense, transportation, energy and life sciences.
Titanium Healthcare, Inc. is headquartered in Austin, Texas, and its common stock trades on the OTCQB under the symbol "TIHC."
Safe Harbor Language
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company has based these forward-looking statements on its current expectations about future events, estimates and projections about the industry in which it operates. Forward-looking statements are not guarantees of future performance. Actual results may differ materially from those suggested by these forward-looking statements as a result of a number of known and unknown risks and uncertainties that are difficult to predict, including, without limitation, our ability to successfully complete our proposed joint ventures, our ability to secure additional or alternative capital, and general economic and business conditions. Those and other risks are more fully described in the Company's filings with the Securities and Exchange Commission. The forward-looking statements included in this release are made only as of the date hereof. Except as required under federal securities laws and the rules and regulations of the United States Securities and Exchange Commission, the Company does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any forward-looking statements after the distribution of this release, whether as a result of new information, future events, changes in assumptions, or otherwise.
For Further Information, Please Contact:
Kamran Nezami
Chairman of the Board
Titanium Healthcare, Inc.
844-465-5487 (phone)
info@titaniumhc.com (email)
-Recent departures of the company's chief financial officer and chief development officer
-Continuing challenges in expected volume and the overall depressed healthcare reimbursements
-Prioritizing limited resources to focus on supplementing the healthcare business model and attract additional investor capital.
In the 2015 Form 10-K, the Company looks forward to reporting progress in its revised business model to offset what are expected to be lower revenues from 2015 compared to 2014.
Capital Raising Efforts:
The Company is seeking additional equity capital from private investors to improve the Company’s working capital deficit and to finance the strategic joint venture projects described above. The Company is also exploring potential opportunities for mergers, acquisitions or divestitures that could add management talent, expand capital or access to capital and/or result in synergistic revenue enhancement, which will ultimately increase shareholder value.
"These actions are necessary, require strong leadership and should allow the Company to complete the platform required for our continued growth," stated Kamran Nezami, Chairman of the Board. "While we regret the erosion of confidence with our shareholders due to our filing delays, we are committed to our business strategies and our ability to expand our business into technology and supercomputing service offerings. Once we become current in our filings, we are confident that we will be able to provide our shareholders with a much better understanding of our performance and future growth opportunities."
About Titanium
Titanium is currently a healthcare ancillaries and life science company focused on improving patients’ lives through “personalized medicine” and “prevention of prescription drug abuse” initiatives through its pharmacy and lab. In the fall of 2015 new joint ventures were announced with strategic partners in the science and technology industries which are expected to expand the Company into new industries such as aerospace & defense, transportation, energy and life sciences.
Titanium Healthcare, Inc. is headquartered in Austin, Texas, and its common stock trades on the OTCQB under the symbol "TIHC."
Safe Harbor Language
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company has based these forward-looking statements on its current expectations about future events, estimates and projections about the industry in which it operates. Forward-looking statements are not guarantees of future performance. Actual results may differ materially from those suggested by these forward-looking statements as a result of a number of known and unknown risks and uncertainties that are difficult to predict, including, without limitation, our ability to successfully complete our proposed joint ventures, our ability to secure additional or alternative capital, and general economic and business conditions. Those and other risks are more fully described in the Company's filings with the Securities and Exchange Commission. The forward-looking statements included in this release are made only as of the date hereof. Except as required under federal securities laws and the rules and regulations of the United States Securities and Exchange Commission, the Company does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any forward-looking statements after the distribution of this release, whether as a result of new information, future events, changes in assumptions, or otherwise.
For Further Information, Please Contact:
Kamran Nezami
Chairman of the Board
Titanium Healthcare, Inc.
844-465-5487 (phone)
info@titaniumhc.com (email)
Contact
Titanium Healthcare, Inc
Kamran Nezami
844-465-5487
titaniumhc.com
Kamran Nezami
844-465-5487
titaniumhc.com
Contact
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