Culver City, CA,, Nov. 13, 2017 (GLOBE NEWSWIRE) -- 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of the state of the art PHZIO Platform for the physical therapy and telehealth markets, announced today that it has withdrawn it’s application for a 1:12 reverse stock split.
The initial reason for ratifying and approving the Reverse Split was to best position the company for possible up-listing from the OTCQB to the NASDAQ. Based upon recent and anticipated business developments our Board of Directors made the determination on November 13, 2017 not to proceed with the reverse stock split because an up-listing to the NASDAQ may be achieved after the fiscal year ending December 31, 2017 without a reverse stock split. While there can be no assurance that up-listing on the NASDAQ will be achieved, the company has informed FINRA that it was withdrawing the application and we’re canceling the pending 1:12 Reverse Split.
Mr. Darwin Fogt, CEO said "With recent business developments we are excited about the possibility of achieving the qualification for up-listing to NASDAQ in 2018 without having to complete a reverse stock split.”
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/
http://phzio.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 the Company. 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.