Certive Announces Recall and Cancellation of Preferred Shares
Certive Solutions Inc. (OTCQB:CTVEF, CSE:CBP) (“Certive” or the “Company”), announces that the preferred shares that were approved by the shareholders in 2016 have been recalled and cancelled by action of the Board of Directors on August 7, 2018. These shares were subject to the terms of amendment to its articles of incorporation approved at an Annual and Special Meeting of Shareholders held on September 19, 2016. This action eliminates a provision that allowed management 51 percent control of the Company and various other benefits upon the occurrence of certain events.
“The need for such majority management control was viewed as unnecessary and detrimental to the interests of the shareholders” stated Chairman Tom Marreel. “With the appointment of a strong, independent Board of Directors, we can provide guidance to management to focus on growth and profitability” he added.
The Board of Directors also appointed the five independent members to a Corporate Governance and Compensation Committee. Jack Saltich will Chair the Committee and be joined by Directors Hyland, Marreel, Thomas and Wareham. This Committee is also tasked with the nominating role for an upcoming Annual General Meeting that is being planned for October 2018.
“This is one more step in process of assuring our shareholders and the marketplace that governance and management controls are being implemented to build on the improving operational results that we will be announcing soon” stated Marreel.
For more information, please visit our website at www.certive.com, or contact Certive directly at 480-922-5327.
Michael J. Miller
Chief Financial Officer, Certive Health Inc.
About Certive Solutions Inc.
Certive Solutions Inc. (Scottsdale, Arizona) provides revenue cycle management solutions to the U.S. healthcare market through its wholly owned U.S. entity Certive Health Inc. Certive health's claim audit and recovery services, billing services, and software solutions help providers work with payers to efficiently manage the reimbursement process and improve financial performance. Certive's highly skilled and experienced management team, combined with proprietary workflow and analytics, audit and identify, and bill and collect, underpayments in accordance with contractual obligations between the public or commercial insurance carrier and the designated provider. The healthcare market is changing. Certive works with clients to provide efficient and effective solutions aligned with reform initiatives to improve healthcare and reduce costs.
Forward-Looking and Other Statements
This press release contains forward-looking statements. These statements relate to future events or future performance and reflect our expectations and assumptions regarding our growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect our current beliefs and are based on information currently available to us. In some cases, forward-looking statements can be identified by terminology such as “may”, “would”, “could”, “will”, “should”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue” or the negative of these terms or other similar expressions concerning matters that are not historical facts.
A number of factors could cause actual events, performance or results, including those in respect of the foregoing items, to differ materially from the events, performance and results discussed in the forward looking statements.
Factors that could cause actual events, performance or results to differ materially from those set forth in the forward-looking statements include, but are not limited to:
• the effect of continuing operating losses on our ability to obtain, on satisfactory terms, or at all, the capital required to remain a going concern;
• the ability to obtain sufficient and suitable financing to support operations, development and commercialization of our services;
• the risks associated with the development of our technology;
• the risks associated with the increase in operating costs from additional development costs and increased staff;
• the timing and nature of feedback from customers; and
• our ability to successfully compete in our targeted markets.
Although the forward-looking statements contained in this press release are based on what we consider to be reasonable assumptions based on information currently available to us, there can be no assurance that actual events, performance or results will be consistent with these forward-looking statements, and our assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release. Forward-looking statements made in this press release are made as of the date of the original document and have not been updated by us except as expressly provided for in this press release. As required by securities legislation applicable to reporting issuers, it is our policy to update, from time to time, forward-looking information in our periodic management discussions and analyses and provide updates on our activities to the public through the filing and dissemination of news releases and material change reports.
For the original news story, please visit https://www.prdistribution.com/news/certive-announces-recall-and-cancellation-of-preferred-shares/3487754.