Ann: Update on Revenue Guidance and Oxford facility, page-3

San Jose, CA, United States – AirXpanders, Inc. (ASX: AXP) (Company), a medical device company focused on the design, manufacture, sale and distribution of the AeroForm® Tissue Expander System, today announces an update on its revenue guidance for 2019. In light of the recently announced organizational restructure, the Company no longer expects to achieve net revenues for 2019 of between US$11.5 million and US$14 million, as outlined in the “2019 Business Outlook” in the Appendix 4C announcement on 30 January 2019. The Company is not able to provide revised revenue guidance at this stage as it works through its current restructuring and explores financial and strategic alternatives. The Company also expects that it will breach its minimum net revenue covenant for the month of April under its debt facility with Oxford Finance, LLC. The Company is continuing discussions with Oxford in relation to the previous quarter’s covenant breach as well as this anticipated new breach. “As previously announced, we look forward to working with Cowen regarding our evaluation of strategic alternatives for the company,” said Frank Grillo, CEO. “We have a great product, loyal customers and enthusiastic patients. We will provide updates to the market as appropriate as we explore the next phase in our journey as a company.”

Love how there is no mention of the shareholder. It is all over red rover.