Sector: Health Technology
Industry: Medical Specialties
Guided Therapeutics, Inc. engages in the development of medical devices. It focuses on the sales and marketing of its LuViva Advanced Cervical Scan non-invasive cervical cancer detection device. The underlying technology of LuViva primarily relates to the use of biophotonics for the non-invasive detection of cancers. The company was founded by Shabbir Bakir Bambot and Richard L. Fowler on October 27, 1992 and is headquartered in Norcross, GA.
News
Guided Therapeutics Makes Final Payment to GPB Capital Holdings for Secured Notes
January 13, 2021
Guided Therapeutics, Inc. (OTCQB: GTHP), the maker of the LuViva Advanced Cervical Scan, announced today that it had made the final payment of $750,000 to GPB Capital Holdings, LLC under a cash and equity exchange agreement signed on January 16, 2020. Under the agreement, once the agreed upon cash payments were made, the remaining debt owed to GPB was converted into equity. The final payment also removed any and all security interests over the Company’s assets previously held by GPB and sets all warrants held by GPB at a fixed price, thereby eliminating them as a liability on the Company’s balance sheet. In all, between the cash payment, the equity exchange and the removal of the warrants as a liability, the final $750,000 payment to GPB results in a total of $5,070,000 of liabilities removed from the Company’s balance sheet, compared with the end of the third quarter 2020.
“We are extremely pleased that we were able to make the final payment to GPB and that our assets are no longer encumbered by debt,” said Gene Cartwright, CEO of Guided Therapeutics. “Over the past two years, we have reduced our liabilities significantly to a manageable level and can now plan on growing the business without making large debt related monthly payments.”
Industry: Medical Specialties
Guided Therapeutics, Inc. engages in the development of medical devices. It focuses on the sales and marketing of its LuViva Advanced Cervical Scan non-invasive cervical cancer detection device. The underlying technology of LuViva primarily relates to the use of biophotonics for the non-invasive detection of cancers. The company was founded by Shabbir Bakir Bambot and Richard L. Fowler on October 27, 1992 and is headquartered in Norcross, GA.
News
Guided Therapeutics Makes Final Payment to GPB Capital Holdings for Secured Notes
January 13, 2021
Guided Therapeutics, Inc. (OTCQB: GTHP), the maker of the LuViva Advanced Cervical Scan, announced today that it had made the final payment of $750,000 to GPB Capital Holdings, LLC under a cash and equity exchange agreement signed on January 16, 2020. Under the agreement, once the agreed upon cash payments were made, the remaining debt owed to GPB was converted into equity. The final payment also removed any and all security interests over the Company’s assets previously held by GPB and sets all warrants held by GPB at a fixed price, thereby eliminating them as a liability on the Company’s balance sheet. In all, between the cash payment, the equity exchange and the removal of the warrants as a liability, the final $750,000 payment to GPB results in a total of $5,070,000 of liabilities removed from the Company’s balance sheet, compared with the end of the third quarter 2020.
“We are extremely pleased that we were able to make the final payment to GPB and that our assets are no longer encumbered by debt,” said Gene Cartwright, CEO of Guided Therapeutics. “Over the past two years, we have reduced our liabilities significantly to a manageable level and can now plan on growing the business without making large debt related monthly payments.”