Vaso Corporation receives notification – GuruFocus.com

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PLAINVIEW, NY / ACCESSWIRE / June 24, 2021 / Vaso Corporation (“Vaso”) (OTC PINK: VASO) announced today that the company has received notice from the Small Business Administration (“SBA”) that the loan it received from a lending institution as of April 2020 under the CARES Act Paycheck Protection Program (“PPP”), approximately $ 3.6 million, along with all accrued interest, was fully written off. The Company will record this remittance of loan principal and interest as other income in its quarterly financial report for the three months ending June 30, 2021.

About Vaso

Vaso Corporation is a diversified medical technology company with several distinct but related specialties: managed IT systems and services, including healthcare software solutions and network connectivity services; professional sales services for diagnostic imaging products; and the design, manufacture and sale of proprietary medical devices.

The Company operates through three wholly owned subsidiaries:

  • VasoTechnology, Inc. provides network and IT services through two business units: VasoHealthcare IT Corp., a national value-added reseller of Radiological Information System (“RIS”), Image Archiving and Communication System (“PACS”) and other software solutions from various vendors and related services, including implementation, management and support; and NetWolves Network Services LLC, a provider of managed network services with a broad service platform exclusive to a broad customer base.
  • Vaso Diagnostics, Inc. dba VasoHealthcare, provides professional sales services and is the operating subsidiary for the exclusive sales representation of GE Healthcare’s diagnostic imaging products in certain market segments in the United States.
  • VasoMedical, Inc. manages and coordinates the design, manufacture and sale of proprietary medical equipment and software, and operates the Company’s overseas assets, including subsidiaries based in China.

Additional information is available on the Company’s website at www.vasocorporation.com.

With the exception of historical information contained in this press release, the matters discussed are forward-looking statements that involve risks and uncertainties. In this report, words such as “anticipate”, “believe”, “could”, “estimate”, “anticipate”, “may”, “optimistic”, “plans”, “potential” and “intends”. ”And similar expressions, with respect to the Company or its management, identify forward-looking statements. These forward-looking statements are based on the beliefs of the management of the Company, as well as on the assumptions made by and information currently available to the management of the Company. Factors that could cause actual results to differ materially include: the effect of business and economic conditions, including the impact of the current COVID-19 pandemic; the effect of the dramatic changes underway in IT and healthcare; continuation of the GEHC agreement; the impact of competitive technologies and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier issues; unforeseen difficulties and delays in product development programs; actions of regulatory authorities and third-party payers in the United States and abroad; and risk factors reported from time to time in the Company’s SEC reports. The Company assumes no obligation to update forward-looking statements as a result of future events or developments.

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Investor contact:
Michael J. Beecher
Investor Relations
Telephone: 516-997-4600
E-mail: [email protected]

SOURCE: Vaso Company

See the source version on accesswire.com:
https://www.accesswire.com/653022/Vaso-Corporation-Receives-Notice-of-PPP-Loan-Forgiveness


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