Dougherty’s Pharmacy, Inc. Released as Co-Guarantor

DALLAS, April 04, 2018 -- Dougherty’s Pharmacy, Inc. (the “Company”) or (“Dougherty’s”) (OTCQB:MYDP) today announced that the payment obligations under a promissory note with a financial lender for which the Company had been obligated as a co-guarantor have been satisfied in full by the primary obligor.

The result of this payment by the primary obligor is that the Company’s restricted cash balance of $303,000 will be released by the financial lender and funded to Company today, and the financial lender has indicated its intention to provide the Company with a full release of its guaranty obligations  under the promissory note.  The unrestricted funds will be used in operations, financing or investing as determined by the Company’s management.  The Company had not recorded any liability for its co-guarantee obligations in its previously reported financial statements.

“We are pleased to be released from this contingent payment obligation and look forward to redirecting these previously restricted funds to Company initiatives that we have planned for 2018,” Jim Leslie said.

About Dougherty’s Pharmacy, Inc.

Dougherty’s Pharmacy, Inc. is a retail pharmacy chain focused on successfully acquiring, managing and growing community-based pharmacies in the Southwest Region of the United States. On June 9, 2017, the Company changed its name from Ascendant Solutions, Inc. to Dougherty’s Pharmacy, Inc. to better reflect the corporate vision and operating structure. Dougherty’s currently has approximately $48 million in net operating loss carryforwards which can be used to shelter future income, thus enhancing free cash flow or debt service capabilities. Interested investors can access financials and stock trading information for Dougherty’s at OTCMarkets.com or at www.doughertys.com.  

Forward-Looking Statements 

This press release contains forward-looking statements within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's current expectations, projections, estimates and assumptions. These forward-looking statements may be identified by words such as "expects," "believes," "anticipates" and similar expressions.  Forward-looking statements involve risks and uncertainties that may cause future results to differ materially from those suggested by the forward-looking statements.  The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.