FOXO Tech (FOXO) Regains SEC Compliance

FOXO Technologies Inc. (NYSE American: FOXO) (the “Company”), today announced it has filed its Form 10-Q for the quarter ended March, 31, 2024 and in doing so has regained compliance with SEC reporting requirements.

“We are delighted to have regained compliance with SEC filing requirements to be deemed fully reporting with the SEC,” said Mark White, Interim CEO of FOXO Technologies. “We are confident we will file future financial statements and other reports timely and remain fully reporting with the SEC. We are also confident that we will be successful in addressing any outstanding deficiencies with NYSE American within the required timeframes. Furthermore, we are working to close the recently announced transaction with Rennova Health, Inc. (OTC RNVA) to acquire its rural hospital operations in Tennessee. We expect these various accomplishments to create opportunity for our Company and its shareholders.”

The Company closed the previously announces Myrtle transaction on June 14, 2024 and simultaneously secured a commitment for up to $2.5M of additional capital.

Myrtle Recovery Centers, Inc. is a 30 bed behavioral health facility in East Tennessee. It provides inpatient services for Detox and Residential Treatment and outpatient services for MAT and OBOT Programs. The facility was opened in August 2023 and has secured an in-network contract with one of the major health insurance companies in Tennessee and is in the final stages of securing various other in-network contracts to facilitate payment for services. The Company anticipates this transaction will provide profitable annual revenues of approximately $3-4M with plans to grow revenues and duplicate the model in different locations. Further information can be found at www.myrtlerecoverycenters.com.

Closing of the previously announced Scott Country transaction to acquire a rural hospital remains subject to a shareholder vote and other conditions and is expected to close in the third quarter of 2024.

Scott County Community Hospital, Inc. (DBA Big South Fork Medical) is a critical access designated (CAH) hospital in East Tennessee. Further information can be found at www.bsfmedical.com.

Scott County Community Hospital, Inc. and Myrtle Recovery Centers, Inc., generated unaudited net revenue of approximately $18.7 million and net income of approximately $5.2 million for the twelve months ended December 31, 2023.

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