eWellness receives $375,000 in funding from Manchester Management, LLC and JLS Ventures, LLC
November 18 2016 - 9:00AM
Marketwired
eWellness receives $375,000 in funding from
Manchester Management, LLC and JLS Ventures, LLC
CULVER CITY, CA-(Marketwired - Nov 18, 2016) -
eWellness Healthcare Corporation (OTCQB: EWLL), a provider of the state of the art PHZIO
Platform for the physical therapy and telemedicine market,
announced today that it has closed on financing to help accelerate
the growth of the Company. Investors affiliated with the financing
also purchased the remaining unconverted variable rate note
outstanding at the Company.
$375,000 of financing was obtained jointly from
Manchester Management, LLC and JLS Ventures, LLC, both having a 20
year+ history of investing in small and micro capitalization
companies. Manchester invested $250,000 in a convertible note that
converts into common stock of the company. In a separate
transaction, Manchester Management and JLS Ventures jointly
purchased the remaining unconverted note from Firstfire Global
Opportunities Fund LLC, and agreed not to convert for 90 days
unless the average closing price exceeded $0.15 for 5
days.
Mr. Darwin Fogt, CEO said "We are excited to
have an investment from Manchester and JLS Ventures. They
understand the potential future growth of our PHZIO Platform. Their
commitment to our performance based long-term capital needs
represents our optimum financial partner.
The company launched its PHZIO system in October
at the PPS conference in Las Vegas and received larger than
anticipated industry interest. These funds will allow us to
immediately address the large customer demand for our PHZIO
Platform and begin to scale our system. We look forward to updating
the market on the progress of our rollout in the coming weeks. Over
time, our success should be reflected in our stock price. In
addition this financing has removed the near term conversion
pressure on our common stock.
This Press Release contains a summary of the
matters set forth herein and does not purport to be complete. This
Press Release should be read in conjunction with the Current Report
on Form 8-K filed with the SEC contemporaneous with its
publication.
About eWellness
eWellness Healthcare Corporation
(OTCQB: EWLL) is the first physical therapy telemedicine
company to offer insurance reimbursable real-time distance
monitored treatments. Our business model is to license our PHZIO
("PHZIO") platform to any physical therapy ("PT") clinic in the
U.S. and or have large-scale employers use our PHZIO platform as a
fully PT monitored corporate wellness program. The Company's PHZIO
home physical therapy exercise platform has been designed to
disrupt the $30 billion physical therapy and the $8 billion
corporate wellness industries. PHZIO re-defines the way physical
therapy can be delivered. PHZIO is the first real-time remote
monitored 1-to-many physical therapy platform for home use. Due to
the real-time patient monitoring feature, the PHZIO platform is
insurance reimbursable by payers such as: Anthem Blue Cross and
Blue Shield.
The PHZIO Solution: A New Physical Therapy
Delivery System
- SaaS technology platform solution for providers
bundling rehabilitation services and employer wellness
programs;
- First real-time remote monitored 1-to-many
physical therapy treatment platform for home
use;
- Ability for physical therapists to observe
multiple patients simultaneously in real-time;
- Solves what has been a structural problem and
limitation in post-acute care practice growth;
and
- Allows PT practices to generate increased
revenues due to higher adherence and compliance
rates.
For more information on eWellness go
to:
http://www.ewellnesshealth.com/
Safe Harbor Statement
"Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995: This press release
contains forward-looking statements (within the meaning of Section
27a of the Securities Act of 1933 and Section 21e of the Securities
Exchange Act of 1934) regarding us and our business, financial
condition, results of operations and prospects. Forward-looking
statements in this press release reflect the good faith judgment of
our management and are based on facts and factors currently known
to us. Forward-looking statements are subject to risks and
uncertainties, and actual results and outcomes may differ
materially from the results and outcomes discussed in the
forward-looking statements as a result of either the matters set
forth or incorporated in this press release generally or certain
economic and business factors, some of which may be unknown to
and/or beyond the control of Visualant, Inc. Specifically, we are
exposed to various risks related to our need for additional
financing to support our technology development, the sale of a
significant number of our shares of common stock could depress the
price of our common stock, acquiring or investing in new businesses
and ongoing operations, we may incur losses in the future and the
market price of our common stock may be volatile. Readers are urged
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. We do not
undertake, and we expressly disclaim, any obligation to revise or
update any forward-looking statements in order to reflect any event
or circumstance that may arise after the date of the press
release.
For additional information on eWellness
Healthcare Corporation and its PHZIO telemedicine products please
contact Mr. Darwin Fogt, CEO.
Contact:
Darwin Fogt
CEO
1-855-470-1700
eWellness Healthcare (CE) (USOTC:EWLL)
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