Advanzeon Solutions, Inc. (OTCMKTS:CHCR) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On December 31, 2017, the Company entered into a Settlement Agreement with Joe Canouse (“Holder”) stemming from a complaint filed, but not served, by Holder against the Company concerning a dispute over the repayment of certain convertible promissory notes in the aggregate principal amount of two hundred forty thousand dollars ($240,000), exclusive of accrued interest, held by Holder as assignee from Southridge Partners II, LP (the “Notes”). The Notes were issued in connection with a consulting agreement between the Company and Southridge Partners II LP in May 2014. In connection with the Settlement Agreement, the Company, without admitting liability or wrongdoing, agreed to settle the dispute by issuing 2,000,000 shares of its common stock to Holder. Each party agreed to a mutual general release of any further claims against the other party .upon full satisfaction of the Settlement Agreement.
| Item 9.01 | Financial Statements and Exhibits |
| NUMBER | EXHIBIT |
| 1.01 | Settlement Agreement dated December 31, 2017 |
| 1.02 | Consulting Agreement dated May 13, 2014 |
| 1.03 | Convertible Promissory Note dated June 1, 2014 |
| 1.04 | Convertible Promissory Note dated July 1, 2014 |
| 1.05 | Convertible Promissory Note dated August 1, 2014 |
| 1.06 | Convertible Promissory Note dated September 1, 2014 |
| 1.07 | Convertible Promissory Note dated June 1, 2015 |
| 1.08 | Convertible Promissory Note dated July 1,2 015 |
| 1.09 | Convertible Promissory Note dated August 1, 2015 |
| 1.10 | Convertible Promissory Note dated September 1, 2015 |
Advanzeon Solutions, Inc. Exhibit…To view the full exhibit click here
About Advanzeon Solutions, Inc. (OTCMKTS:CHCR)
Advanzeon Solutions, Inc. provides managed care services in the behavioral health substance abuse, and pharmacy management fields. The Company provides these services to commercial, Medicare, Medicaid and Children’s Health Insurance Program (CHIP) health plans, as well as self-insured companies and unions. Its managed care operations include administrative service agreements, fee-for-service agreements, and capitation contracts. The behavioral health and substance abuse services provided through its provider network include outpatient programs, intermediate care programs and inpatient and crisis intervention services. It has a network of approximately 38,000 contracted providers in the areas of psychiatrists, psychologists, therapists, other licensed healthcare professionals, psychiatric hospitals, general medical facilities with psychiatric beds, residential treatment centers and other treatment facilities.
