Culver City, CA, April 02, 2018 (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 the Company’s 2017 results in their Form 10-K filing last Wednesday March 28, 2018. Please see the Companies 10-K filing at:
https://www.sec.gov/Archives/edgar/data/1550020/000149315218004022/form10-k.htm
In regards to the Company’s financials it should be selectively noted that Derivative Liabilities were reduced from $8,473,265 in FY 2016 to $1,140,578 in FY2017. The Company’s Net Loss was significantly reduced from ($12,460,694) in FY 2016 to ($1,032,891) in FY 2017. This was equal to a Basic (loss) Per Share of ($0.01) in FY 2017 versus ($0.51) in FY 2016. Paid in Capital increased from $5,757,205 in FY2016 to $13,178,131 in FY2017.
Darwin Fogt, President and CEO said: “eWellness is a leader in digital telehealth and wellness. In 2017, we successfully executed and delivered on system updates and expanded our robust PHZIO telehealth platform. This was the first year of a new five-year plan to transform the physical therapy and wellness industries into the digital age, that will bring better patient care at lower treatment costs. Although we remained pre-revenue throughout the year, we are anticipating initial revenue generation during the second quarter of 2018. All this makes us confident to deliver value for our clients, shareholders and stronger financial objectives in 2018."
Douglas MacLellan, Chairman said: “In the telehealth and med-tech spaces always look for an innovator not a follower. eWellness has built the first insurance reimbursable one-to-many telehealth platform for the nearly $40 billion physical therapy and corporate wellness industries. When investors consider an investment telehealth and med-tech, it's generally better to look for companies like eWellness that are dedicated to new technologies and innovation. New products typically offer better performance (better outcomes for patients and easier for the health practitioners to use) and those improvements typically command a premium price and drive market-share shifts to these new products. We continue to anticipate that 2018 will be the year that our PHZIO platform will gain strong market acceptance.”
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.
For more information on eWellness go to:
http://www.ewellnesshealth.com/
http://phzio.com/
Safe Harbor Statement
This news release includes certain information that may constitute forward-looking statements. Forward-looking statements are typically identified by terminology such as “could,” “may,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “proposed,” “planned,” “potential” and similar expressions, or are those, which, by their nature, refer to future events. All statements, other than statements of historical fact, included herein, including statements about eWellness’ beliefs and expectations, are forward-looking statements. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Although eWellness believes that such statements are reasonable, it can give no assurance that such forward-looking information will prove to be accurate. eWellness cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors. Accordingly, due to the risks, uncertainties and assumptions inherent in forward-looking information, readers and prospective investors in the Company’s securities should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof and is subject to change. The Company assumes no obligation to revise or update forward-looking information to reflect new circumstances, whether as a result of new information, future events or otherwise, except as required by law.