Innovus Pharmaceuticals, Inc., ("Innovus Pharma") www.innovuspharma.com (OTC: OTCQB:INNV) announced today it paid in full in cash it $384,000 note to the Gemini Fund. In addition, the Company paid in full its notes to its former Chief Financial Officer and any mature and outstanding note to Vista Capital.
Bassam Damaj, President and Chief Executive Officer of Innovus Pharma commented, "With our growing revenues and our recent successful fundraising activities, the Company is in a stronger financial position to fund its business operations and to continue to invest in the scaling up it's the manufacturing of our products to meet the increasing demand for our products."
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is focusing on the commercialization of over-the-counter ("OTC") and consumer products for men's and women's health, vitality and respiratory diseases. The Company generates revenues from its five commercial products on a worldwide basis including Zestra(NYSE:R) for female arousal, EjectDelay for premature ejaculation, Sensum+ to increase penal sensitivity (for sales outside the U.S. only), Zestra Glide and Vesele for increasing blood flow. The Company sells its products in the US online and through larger retailers such as Walmart and has seven commercial partners in 30 countries.
Innovus Pharma's Forward-Looking Safe Harbor Statements
Under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, receiving patent protection for any of its products, to receive approval or meet the requirements of any relevant regulatory authority, to successfully fund its operations and commercialize such products and to achieve its other development, commercialization and financial goals, whether our partners will be able to successfully market and Innovus licensed products in the Indian subcontinent. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.Innovus Pharma Contact:Reuven Rubinsonir@innovuspharma.comT: 858-964-5123
SOURCE: Innovus Pharmaceuticals, Inc.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.