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FT. LAUDERDALE, FL / ACCESSWIRE / July 27, 2021 / Cardiff Lexington Corporation (OTC PINK: CDIX) today released its combined proforma income statement and balance sheet, which includes the historic performance of its most recent acquisitions of Nova Ortho and Spine.

Cardiff Lexington’s newest subsidiary is expected to grow as more locations join and the economy continues to recover from the stagnation of the Covid-19 pandemic. Cardiff Lexington’s Healthcare Division will seek to provide resources and synergistic additional revenue streams to grow Nova Ortho and Spine.

According to the Centers for Medicare & Medicaid Services, national health spending will grow at an average annual rate of 5.4 percent over 2019-28 and to $ 6.2 trillion by 2028. As national health spending is expected to grow 1.1 percentage points faster than gross domestic product (GDP) per year on average over this period, the health share of the economy is expected to increase from 17.7 percent in 2018 to 19.7 percent of GDP in 2028 .

Despite the Covid-19 pandemic, the combined historical results of Nova Ortho and Spine and Cardiff Lexington on a pro forma basis were total sales in 2020 of $ 7,597,814, up 43% on an EBITDA profit of $ 7,597,814 69% compared to 2019 combined results.

Cardiff Lexington’s goal is to become a leading diversified holding company that maximizes shareholder value with a focus on the healthcare, financial services and real estate industries. The company continues to look for additional acquisition opportunities. The aim of the management is to implement the company’s “buy and build” strategy.

Our mission statement states: “Cardiff Lexington’s goal is to provide our operating units with business support and services related to strategic initiatives, financial planning, networking and business development, risk management and mitigation, law and compliance, employee development and information technology.” as media work. “

Win and loss

The immediate impact of the Nova Ortho and Spine acquisitions on Cardiff Lexington’s bottom line has been positive. Net cash increased over $ 1,000,000 and total assets and equity increased $ 7.2 million, or more than five cents per common share, as of June 30, 2021. For the past six months, management has reduced the company’s negative equity from ($ 8,562,401) to $ (1,219,756), a net improvement of $ 7,342,645.

Balance sheet

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Conversions and dilution

Despite unfounded misinformation from uninformed and unidentified sources, the fact is that all preferred stockholders are subject to a lock-up period and no preferred stock has been converted and sold as common stock in the past five (5) years. Members of our management team converted preferred shares into 50,000,000 blocked common shares, but none of those shares were sold and blocked shares are subject to transfer restrictions. Additionally, in the past five (5) years, no executive officer or member of our management team has sold any stock at any time. The entire dilution is due to debt rescheduling by third parties.

For the past 18 months, management has worked diligently to reduce and eliminate the expensive convertible debt financing that was previously necessary to meet operational deficits. For several quarters the management has further reduced the dependency on the financing of convertible bonds. With the recent capital investment in our Series N preferred stock and the acquisition of Nova Ortho and Spine, management believes the cash flow from operations will be sufficient to sustain future operations without additional convertible bonds. In addition, the recent institutional investment in Series N preferred stock is subject to a lock-up clause and the company reserves the right to repurchase any such outstanding stock at any time for 115% of the issue price.

About Nova Ortho and Spine, LLC

Nova Ortho and Spine, LLC provides primary care examinations, care management, interventional pain management, and specialized counseling (orthopedics, neurosurgery, and pain management) for approximately 100-150 patients per month to patients with traumatic injuries. Patients are primarily referred through a growing network of professional care providers such as other doctors, physiotherapy and chiropractors. Nova is a highly efficient medical emergency assessment provider. As an EMC provider and provider of continuous early-stage care, Nova brings an experienced management team with over 25 years of experience operating primary, specialty and supplementary care facilities to Cardiff Lexington. They currently operate seven regional offices that are well positioned in Florida metropolitan areas. The company is not dependent on CMS (Medicare / Medicaid) or health insurance companies (HMOs or Blue Cross) for reimbursement. The Payor mix consists almost exclusively of motor insurance, liability carriers and private wages. Management estimates that the seven locations, most of which opened in the last 24 months, are currently at 35% occupancy. From pain therapy and physiotherapy to minimally invasive and complex spinal surgery, Nova has the best possible team of doctors and specialists to ensure exceptional patient care and optimal results.

About Cardiff Lexington Corporation: Cardiff Lexington has a “buy and build” acquisition and value creation strategy aimed at acquiring mid-sized, private niche financial services and healthcare companies and real estate with synergies and leveraging data and resources in similar target markets. The company implements its buy-and-build strategy and uses proven management in private companies that become subsidiaries. Cardiff Lexington’s acquisition strategy is based on structure, deal value, direction, resources and ROI. The management aims to acquire medium-sized private niche companies in the healthcare sector and financial services companies with high growth potential. The Cardiff Lexington umbrella enables business owners to leave personal equity and leverage the capitalization power of a publicly traded company to drive growth and expansion. At the heart of Cardiff Lexington’s strategy are acquisitions into independent subsidiaries that benefit from the power of a public company. Owners gain liquidity, diversification, pooled resources, leverage and reduced risk. As a subsidiary of Cardiff Lexington, these companies will have experienced management support and improved ability to raise money to operate or expand while developing a longer-term equity exit strategy. CDIX aims to acquire mature, high-growth niche companies in the healthcare and financial services sectors. Cardiff Lexington provides these companies with a proven, experienced Cardiff Lexington management team led by a strong and talented team of executives and consultants who provide expert acquisition, market leadership and additional management value for subsidiaries and investors to facilitate growth and expansion and to direct. For investors, Cardiff Lexington offers a diversified, lower risk portfolio to protect and safely enhance their investments by continually adding assets and interests.

FORWARD LOOKING STATEMENT: This press release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company’s current views with respect to future events that involve risks and uncertainties. These risks include failure to meet deadline or performance requirements of the company’s contracts, the company’s liquidity position, the company’s ability to win new contracts, the emergence of competitors with greater financial resources, and the effects of competitive pricing. Given these uncertainties, the forward-looking events discussed in this release may not occur.

Investor Relations
800-628-2100 ext. 705
[email protected]

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SOURCE: Cardiff Lexington Corporation

View source version on accesswire.com:
https://www.accesswire.com/657106/Cardiff-Lexington-Issues-Pro-forma-Financial-Performance-to-include-Nova-Ortho-Spine

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