<SEC-DOCUMENT>0001104659-20-082922.txt : 20200713
<SEC-HEADER>0001104659-20-082922.hdr.sgml : 20200713
<ACCEPTANCE-DATETIME>20200713080141
ACCESSION NUMBER:		0001104659-20-082922
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200709
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200713
DATE AS OF CHANGE:		20200713

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ZYNEX INC
		CENTRAL INDEX KEY:			0000846475
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				870403828
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38804
		FILM NUMBER:		201024324

	BUSINESS ADDRESS:	
		STREET 1:		9555 MAROON CIRCLE
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		(303) 867-3904

	MAIL ADDRESS:	
		STREET 1:		9555 MAROON CIRCLE
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZYNEX MEDICAL HOLDINGS INC
		DATE OF NAME CHANGE:	20050812

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZYNEX MEDICAL HOLDINGS   INC
		DATE OF NAME CHANGE:	20040120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FOX RIVER HOLDINGS  INC
		DATE OF NAME CHANGE:	20031126
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2024637d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES<BR>
<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<BR>
Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
July 9, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Zynex, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nevada&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
    <TD STYLE="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><U>001-38804</U></FONT></TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><U>90-0275169</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction<BR>
 &nbsp;of incorporation)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Commission File<BR>
Number</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification number)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>9555 Maroon Circle, Englewood,
CO 80112</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal
executive offices)&nbsp;&nbsp;(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Registrant's telephone number, including
area code:&nbsp;&nbsp;&nbsp;<U>(303) 703-4906</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px; text-align: justify"></TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px; text-align: justify"></TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px; text-align: justify"></TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px; text-align: justify"></TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Securities registered pursuant to Section 12(b) of the Act:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; width: 33%; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 36%; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Ticker symbol(s)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; width: 31%; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Common Stock, $0.001 par value per share</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">ZYXI</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">The Nasdaq Stock Market LLC</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right">Emerging growth company&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px; text-align: justify"></TD>
    <TD STYLE="width: 72px"><FONT STYLE="font-size: 10pt"><B>ITEM 2.02</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Results of Operations and Financial Condition</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July 9, 2020, Zynex,&nbsp;Inc. (the &ldquo;Company&rdquo;)
issued a press release announcing select estimated results for the three months ended June 30, 2020 and updated guidance for the
full year 2020. The full text of the press release is furnished herewith as Exhibit&nbsp;99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Non-GAAP Financial Measures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company reports its financial results in accordance with
accounting principles generally accepted in the U.S. (GAAP). In addition, the Company provided in the furnished press release financial
information in the form of Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, other income/expense and
stock compensation). The Company&rsquo;s management believes this non-GAAP financial measure is useful to investors and lenders
in evaluating the overall financial health of the Company in that it allows for greater transparency of additional financial data
routinely used by management to evaluate performance. Adjusted EBITDA can be useful for investors or lenders as an indicator of
available earnings. Non-GAAP financial measures should not be considered in isolation from or as an alternative to the financial
information prepared in accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #222222">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #222222">The Company&rsquo;s income tax expense for the
three months ended June 30, 2020 has not yet been finalized and is currently estimated to range from 10% to 20% of pre-tax income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #222222">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #222222">The following is a reconciliation of GAAP to
Non-GAAP financial measures provided in the furnished press release assuming a 10% or 20% effective tax rate:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #222222">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: black; font-weight: bold">ZYNEX, INC.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: black; font-weight: bold">Reconciliation of GAAP to Non-GAAP Measures</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: black; font-weight: bold">(in thousands)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: black; font-weight: bold">(unaudited)</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; color: black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; color: black; font-weight: bold; text-align: center">For the Three Months Ended June 30,</TD><TD STYLE="font-size: 10pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: black; font-weight: bold; text-align: left"><U>20% Effective Tax Rate</U></TD><TD STYLE="font-size: 10pt; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: black; font-weight: bold; text-align: center">2020</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: black; font-weight: bold; text-align: left">Adjusted EBITDA:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 86%; font-size: 10pt; color: black; text-align: left">Net income</TD><TD STYLE="width: 2%; font-size: 10pt; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: black; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; color: black; text-align: right">3,291</TD><TD STYLE="width: 1%; font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: black; text-align: left">Depreciation and Amortization*</TD><TD STYLE="font-size: 10pt; color: black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: black; text-align: right">97</TD><TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: black; text-align: left">Stock-based compensation expense</TD><TD STYLE="font-size: 10pt; color: black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: black; text-align: right">579</TD><TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: black; text-align: left">Interest expense and other, net</TD><TD STYLE="font-size: 10pt; color: black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: black; text-align: right">5</TD><TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: black; text-align: left; padding-bottom: 1pt">Income tax expense</TD><TD STYLE="font-size: 10pt; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: black; text-align: right">928</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Adjusted EBITDA</TD><TD STYLE="font-size: 10pt; color: black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: black; font-weight: bold; text-align: right">4,900</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; color: black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; color: black; font-weight: bold; text-align: center">For the Three Months Ended June 30,</TD><TD STYLE="font-size: 10pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: black; font-weight: bold"><U>10% Effective Tax Rate</U></TD><TD STYLE="font-size: 10pt; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: black; font-weight: bold; text-align: left">Adjusted EBITDA:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; width: 86%; font-size: 10pt; color: black; text-align: left">Net income</TD><TD STYLE="width: 2%; font-size: 10pt; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: black; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; color: black; text-align: right">3,347</TD><TD STYLE="width: 1%; font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: black; text-align: left">Depreciation and Amortization*</TD><TD STYLE="font-size: 10pt; color: black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: black; text-align: right">97</TD><TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: black; text-align: left">Stock-based compensation expense</TD><TD STYLE="font-size: 10pt; color: black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: black; text-align: right">579</TD><TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: black; text-align: left">Interest expense and other, net</TD><TD STYLE="font-size: 10pt; color: black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: black; text-align: right">5</TD><TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: black; text-align: left; padding-bottom: 1pt">Income tax expense</TD><TD STYLE="font-size: 10pt; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: black; text-align: right">372</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Adjusted EBITDA</TD><TD STYLE="font-size: 10pt; color: black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: black; font-weight: bold; text-align: right">4,400</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">*
Depreciation does not include amounts related to units on lease to third parties which are depreciated and included in cost of
goods sold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><FONT STYLE="background-color: white">The Company is not able to provide a reconciliation of the Company&rsquo;s forward-looking
guidance for full year 2020 Adjusted EBITDA to full year 2020 GAAP net income without unreasonable efforts due to the unknown
effect, timing and potential significance of the expense items that affect the comparable GAAP financial measure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information disclosed under this Item 2.02, including Exhibit
99.1 hereto, is being furnished and shall not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended, nor shall it be incorporated by reference into any registration statement or other document pursuant to
the Securities Act of 1933, as amended, except as expressly set forth in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px; text-align: justify"></TD>
    <TD STYLE="width: 72px"><FONT STYLE="font-size: 10pt"><B>ITEM 9.01</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>FINANCIAL STATEMENTS AND EXHIBITS</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px; text-align: justify"></TD>
    <TD STYLE="width: 48px"><FONT STYLE="font-size: 10pt">d)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Exhibits</U>. The following exhibit is furnished with this report.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 15%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 85%; padding-right: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><A HREF="tm2024637d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt; color: #0000EE">99.1</FONT></A></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="tm2024637d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt; color: #0000EE">Zynex, Inc. Press Release dated July 9, 2020</FONT></A></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>SIGNATURES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Zynex, Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">July 13, 2020</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Daniel Moorhead</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Daniel Moorhead</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I>Chief Financial Officer</I></FONT></TD></TR>
</TABLE>
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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Zynex Announces 37% Order Growth and
Increases Q2 and Full-Year Revenue Estimates</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>ENGLEWOOD</B></FONT><B>,
CO</B> &ndash; July 9, 2020 &ndash; Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in manufacturing
and selling non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics,
today announced orders and an increased revenue estimate for Q2 and the full-year 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Orders in the second quarter were 37% above the number of orders
in the second quarter of 2019 and 23% sequentially below the first quarter of 2020 due to COVID-19.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Thomas Sandgaard, CEO of Zynex said: &ldquo;Similar to most
companies we have seen the impact of the COVID-19 pandemic, not only on the availability of physicians to prescribe our products
but also on navigating employee and supply chain issues. Our continued order growth during this pandemic shows the strength of
relationships our sales force has with many prescribers and the need for them to prescribe non-opioid, non-addictive prescription
strength solutions for their patients in pain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In June, as many cities re-opened their doors for business,
we have seen consistent order growth and expect it to continue in the third quarter. We aggressively hired sales and back office
employees during the second quarter which was aided by a surge in applications from qualified individuals due to increased unemployment
rates related to COVID-19. These hires will provide significant productivity increases in the second half 2020 and beyond. We have
eclipsed 300 sales reps as we continue our goal of filling all of our territories in the U.S. We expect to have approximately 500
sales reps in the U.S. by the end of 2020 and over 600 by the end of 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Due to the solid increase in orders and strong collections the
Company has updated its previous revenue estimate for the second quarter of 2020 to between $18.9 and $19.4 million compared to
the previous estimate of between $17.5 and $18.0 million. Second quarter Adjusted EBITDA is now expected to come in between $4.4
and $4.9 million, up over one million from the previous estimate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is increasing its full year 2020 revenue estimate
to between $80 and $85 million. The Company previously provided guidance for revenue in the full year 2020 of between $78 and $83
million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The updated revenue estimate is now approximately 76% to 87%
above last year&rsquo;s full year revenue of $45.5 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2020 full year estimated adjusted EBITDA remains unchanged at
$15.0 to $18.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our prescription-strength NexWave device is a healthy alternative
to prescribing opioids as the first line of defense when treating pain. We continue to add additional sales reps in territories
throughout the US that we have not covered previously.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We continue to advocate for pain patients, and for physicians
to prescribe our NexWave technology as the first line of defense in treating chronic and acute pain without side effects. We are
dedicated to promoting our technology in an effort to remove patient addiction and other side effects from prescription opioids.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B>About Zynex&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Zynex, founded in 1996,
markets and sells its own design of electrotherapy medical devices used for pain management and rehabilitation; and the Company's
proprietary NeuroMove device designed to help recovery of stroke and spinal cord injury patients. Zynex is also developing a new
blood volume monitor for use in hospitals and surgery centers.&nbsp; For additional information, please visit:&nbsp;</FONT>Zynex.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Safe Harbor Statement </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #222222"><FONT STYLE="background-color: white">This release
contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; color: #222222">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #252525">Forward<FONT STYLE="background-color: white">-</FONT>looking<FONT STYLE="background-color: white">&nbsp;statements
are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations
and assumptions regarding the future of our business, future plans and strategies, projections, forecasts, anticipated events and
trends, the economy and other future conditions. Because&nbsp;</FONT>forward<FONT STYLE="background-color: white">-</FONT>looking<FONT STYLE="background-color: white">&nbsp;statements
relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict
and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated
in the forward-looking statements. Therefore you should not rely on any of these forward looking statements. </FONT></FONT> <FONT STYLE="background-color: white">The
Company makes no express or implied representation or warranty as to the completeness of forward looking statements or, in the
case of projections, as to their attainability or the accuracy and completeness of the assumptions from which they are derived.
Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the
need to obtain CE marking of new products, the acceptance of new products as well as existing products by doctors and hospitals,
larger competitors with greater financial resources, the need to keep pace with technological changes, our dependence on the reimbursement
for our products from health insurance companies, our dependence on third party manufacturers to produce our goods on time and
to our specifications, implementation of our sales strategy including a strong direct sales force, the impact of COVID-19 on the
global economy and other risks described in our filings with the Securities and Exchange Commission including our Annual Report
on Form 10-K for the year ended&nbsp;December 31, 2019&nbsp;as well as our quarterly reports on Form 10-Q and current reports on
Form 8-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Any forward-looking statement
made by us in this release is based only on information currently available to us and speaks only as of the date on which it is
made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from
time to time, whether as a result of new information, future developments or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B>Contact:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Zynex, Inc.<BR>
(303) 703-4906</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="background-color: white"><BR>
<B>Investor Relations Contact:</B><BR>
Amato and Partners, LLC<BR>
Investor Relations Counsel<BR>
<FONT STYLE="color: Blue"><U>admin@amatoandpartners.com</U></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

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