CV Holdings, Inc. Update and Financial Statements for Year Ended December 31, 2021

NEWPORT BEACH, Calif., May 04, 2022 (GLOBE NEWSWIRE) -- CV Holdings, Inc. (OTCPinkLimited:CVHL) (the “Company”) today reported a net loss for the year ended December 31, 2021 of $(12,399,758) or $(0.19) per common share with weighted average common shares of 64,413,784 issued and outstanding during 2021. Taking into account the December 31, 2021 balance of 64,413,784 common shares issued and outstanding and 7,172,774 warrants and stock options outstanding, the net loss was $(0.17) per diluted common share based on 71,586,558 common shares outstanding on a fully-diluted basis. The net loss for the year ended December 31, 2021 was primarily due to interest expense on preferred equity of $11,529,709, as well as salaries and related payroll expenses of $5,026,138, general and administrative expenses of $3,398,403, provision for loan losses of $2,004,301 and loss from unconsolidated entities of $793,465.