Business
eWellness receives $375,000 in funding from Manchester Management, LLC and JLS Ventures, LLC
eWellness receives $375,000 in funding from Manchester Management, LLC and JLS Ventures, LLC.
About this update from Ewellness Healthcare Corp
[{"type":"text","content":"\n \n \n eWellness receives $375,000 in funding from Manchester Management, LLC and JLS Ventures, LLC\n \n \neWellness receives $375,000 in funding from Manchester Management, LLC and JLS Ventures, LLC\n \n 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. \n $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. \n 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.\" \n \n 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. \n 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.\n About eWellness\n eWellness Healthcare Corporation (OTCQB: EWLL) is the first physical...