eWellness receives $55,000 in new Follow-on funding from JEB Partners L.P.
January 10 2017 - 9:00AM
Marketwired
eWellness receives $55,000 in new Follow-on funding from JEB
Partners L.P.
CULVER CITY, CA-(Marketwired - Jan 10, 2017) - eWellness
Healthcare Corporation, (OTCQB: EWLL) - a provider of the state of
the art PHZIO Platform for the physical therapy and telehealth
markets, announced today that it has closed on additional financing
to help accelerate the growth of the Company. This investment is
anticipated to be followed by additional capital investment over
the next 6 months.
This follow-on finacing of $55,000 was obtained from JEB
Partners L.P. which has a 20 year+ history of investing in small
and micro capitalization companies. The $55,000 in a convertible
note may convert into common stock of the company at conversion
price, including any principal amount interest or any default
interest under this Note, into shares of Common Stock at a price
equal to the lesser of: (i) $0.20 or (ii) 75% of the average of the
VWAPs for the five (5) Trading Days immediately following the 180th
calendar day after the Original Issue Date. There is only one
pricing lookback event. The principal sum of $55,000.00, which
amount is the $50,000.00 actual amount of the purchase price plus a
10% original issue discount (the "Principal Amount") and to pay
interest on the unpaid Principal Amount hereof at the rate of eight
percent (8%) per annum. Although the Company anticipates up to an
additional $1.2 million in follow-on financing, there can be no
guarantee that additional capital will be invested by JEB partners
L.P.
Mr. Darwin Fogt, CEO said "We are excited to have an investment
from Jeb Partners L.P. 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.
About eWellness
eWellness Healthcare Corporation (OTCQB: EWLL) is the first
physical therapy telehealth 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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