DALLAS, June 21, 2016 (GLOBE NEWSWIRE) -- Ascendant Solutions, Inc. (Pink Sheets:ASDS) (“Ascendant” or the “Company”) today announced that it has relocated its Dougherty’s Pharmacy Forest Park operations to a new North Dallas location in the Preston Campbell Shopping Center at 6090 Campbell Road, Suite 100, at the intersection of Preston and Campbell Roads in Dallas.
The new Dougherty’s Pharmacy features a smaller footprint and more efficient design than the previous location at Forest Park. The new 3,000 sq. ft. store commenced operations on June 13, and continues to operate as both a traditional and a compounding pharmacy. Dougherty’s constructed its compounding lab to be compliant with USP 800 guidelines which become effective in July, 2017. Adoption of the USP 800 guidelines will allow our new pharmacy to grow into the future as USP standards evolve.
Mark Heil, president and CFO of Ascendant, said, “We anticipate significant growth opportunities from our new location at the Preston Campbell Shopping Center, as it’s a prime location in an upscale neighborhood. This is an upgrade from our previous Forest Park location, which was in a medical office building attached to a hospital that recently ceased operations.
“Rent savings from the move are expected to be approximately $150,000 annually,” Mr. Heil continued. “We believe the rent savings, combined with the prime location of our new store, should offer an opportunity to gain new customers and bring added value to Ascendant shareholders.”
About Ascendant Solutions, Inc.
Ascendant Solutions, Inc. is a value-oriented investment firm focused on successfully acquiring, managing and growing community-based pharmacies in the Southwest Region. Ascendant currently has approximately $43 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 Ascendant at OTCMarkets.com or at www.ascendantsolutions.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.