eWELLNESS HEALTHCARE CORPORATION (OTCMKTS:EWLL) Files An 8-K Other Events
Item 8.01. Other Events.
On February 14, 2017, eWellness Healthcare Corporation, a Nevada
corporation with offices located in California (the Registrant)
was served by a complaint filed by Rodney Schoemann (Schoemann)
in the State of Louisiana. The lawsuit alleges that the
Registrant is indebted to Schoemann under a promissory note (the
Schoemann Note) stemming from four loans to the Registrant in the
last 20 months amounting to $75,500 in total original principal
bearing interest at 12% per annum, of which $45,202 has been
repaid.
Nevertheless, Schoemann claims in his lawsuit that as a result of
alleged defaults and extensions of the Schoemann Note, the
Registrant is now indebted in the amount of $253,677 inclusive of
interest and penalties at an effective rate exceeding 70% per
annum, far in excess of the maximum rate allowable in California
or Louisiana.
The Registrant and its counsel have determined that: (i)
Schoemann is not a licensed lender in the State of California,
where the loan was made and the $75,500 was deposited and
therefore was not permitted under California law to make loans in
the State; (ii) the interest rate Schoemann is seeking to collect
is usurious and therefore interest claimed in the lawsuit is
neither collectible nor enforceable.
The Registrant and counsel are of the opinion that the Schoemann
suit is wholly without merit and the rules of diversity of
jurisdiction apply. Furthermore, we believe that the action
should be removed from Louisiana state court to the United States
Federal District Court in Baton Rouge, LA, where California law
should be applied.
About eWELLNESS HEALTHCARE CORPORATION (OTCMKTS:EWLL)
eWellness Healthcare Corporation is a physical therapy telemedicine company, which offers insurance reimbursable real-time distance monitored treatments. The Company’s business model is to license its PHZIO (PHZIO) platform to any physical therapy (PT) clinic in the United States and to offer its PHZIO platform as a fully PT monitored corporate wellness program. The Company is developing marketing channel partnerships with industry association members, existing software-based telemedicine providers and physical therapy billing and practice management providers. The Company’s PHZIO home physical therapy exercise platform is a real-time remote monitored one-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 is a technology platform solution for providers bundling rehabilitation services and employer wellness programs. eWELLNESS HEALTHCARE CORPORATION (OTCMKTS:EWLL) Recent Trading Information
eWELLNESS HEALTHCARE CORPORATION (OTCMKTS:EWLL) closed its last trading session down -0.016 at 0.134 with shares trading hands.
