Business
eWellness receives $55,000 in New Follow-on funding from JEB Partners L.P.
eWellness receives $55,000 in New Follow-on funding from JEB Partners L.P..
About this update from Ewellness Healthcare Corp
[{"type":"text","content":"\n \n \n eWellness receives $55,000 in New Follow-on funding from JEB Partners L.P.\n \n \neWellness receives $55,000 in New Follow-on funding from JEB Partners L.P.\n \n CULVER CITY, CA--(Marketwired - Jan 25, 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. \n This follow-on financing 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, converts into common stock of the company at conversion price, including any Principal Amount and interest (including any Default Interest) under this Note, shall be convertible into shares of Common Stock equal to the lesser of: (i) a $0.20 floor price or (ii) a one-time pricing lookback of 75% of the average of the VWAPs for the five (5) Trading Days immediately following the 180th calendar day after the Original Issue Date, whichever is lower. 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.\n Mr. Darwin Fogt, CEO said \"We are excited to have continued 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.\" \n About eWellness\n 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 a...