MISSION VIEJO, CA-- (NewMediaWire - Jan 12, 2017) - Auxilio,
Inc. (OTCQB: AUXO),
a leading provider of complete document solutions and IT security
for the healthcare industry, today announced a reverse stock split
of its shares of common stock at a ratio of 1-for-3. The reverse
stock split will be effective at 5:00 p.m. Pacific Time on January
12, 2017. As of the open of the market on January 13, 2017,
the Company's common stock will begin trading on a split-adjusted
basis under the symbol "AUXOD"
for a period of 20 days, after which the "D" will be removed and
the Company's symbol will revert to the original symbol of
"AUXO."
The Reverse Split was approved at the 2015 Annual Meeting of the
Company's Shareholders. At that meeting, the Company's shareholders
voted to approve a reverse split at a ratio between 1-for-1.5
shares and 1-for-3 shares, to be determined by the Company's Board
of Directors. The Board determined to implement the Reverse Split
at the ratio of 1-for-3 shares.
"Our Board of Directors laid out a plan designed to enhance
shareholder value last year and a listing on a major exchange was
one key consideration. We continue to execute well as a
business and I am pleased to take another step toward our vision of
becoming a nationally listed public company," commented Joseph J.
Flynn, Auxilio CEO and President.
About Auxilio, Inc.
Since 2004, over 220 of the nation's leading hospitals and health
systems have turned to Auxilio to solve broken document and digital
workflow processes. Auxilio's Document Solutions are proven to
reduce waste, safeguard PHI, and improve operational efficiency
while driving incredible cost savings for a healthcare
organization. Auxilio delivers its proven results through its core
services lines, Managed Print Services, Document Consulting and
iPLATFORM, an intelligent workflow automation suite.
Auxilio's Managed Print Services' business model is vendor
neutral, provides full-time, on-site customer service and technical
experts while guaranteeing 20% cost savings starting day-one of the
contract. Auxilio's Document Consulting analyzes and remediates
inefficient document workflow programs bringing transparency of
what is printed, by department, by user and how much to find
opportunities for process improvement and increased security for
HIPAA compliance. iPLATFORM helps make clinical and administrative
tasks easier and faster, improving the patient experience by 50%,
creating a 99% registration accuracy rate and producing practical
cost-effective digital workflows, eliminating 90% of fax
documents.
Auxilio's cybersecurity arm, Redspin, helps hospitals, health
systems and Business Associates find and fix network and
application security issues. Their fully comprehensive portfolio of
services and technology include HIPAA security risk assessments,
penetration testing, risk and compliance consulting and a SaaS
technology solution, Delphiis™ IT Risk Manager.
For more information about Auxilio, visit http://www.auxilioinc.com.
Forward-Looking Statements
This press release contains "forward-looking statements" as that
term is defined in the Private Securities Litigation Reform Act of
1995, regarding the enhancement of shareholder value and the
Company's strategy relating to uplisting to a national exchange.
Such forward-looking statements are based on current expectations
and involve inherent risks and uncertainties, including factors
that could delay, divert or change any of them, and could cause
actual outcomes and results to differ materially from current
expectations. No forward-looking statement can be guaranteed. These
forward-looking statements are made as of the date of this press
release, and the Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. 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 at www.sec.gov or without charge from the
Company.