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 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. \n 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.\n 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.\" \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. \n About ...