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Tuesday, August 11, 2020 10:24:35 PM
https://www.otcmarkets.com/stock/EWLL/news/eWellness-Sign-LOI-with-Lord-Global-Corporation-to-Build-a-Strategic-Marketing--Financing-Partnership-for-PHZIO-and-MSK3?id=261038
EWLL is the pioneer in developing a HIPAA compliant, dedicated platform that allows physical therapists to deliver a reimbursed visit via telemedicine. In the past month, EWLL has seen the average daily use of its platform grow from 1 visit per day to nearly 1000 visits per day. This growth is accelerating. Given the recent federal guideline changes, LRDG anticipates this growth to continue to grow exponentially. Presently the “shelter at home” rules throughout the country has meant that physical therapists and their clients have had their services disrupted.
LRDG through its 27health Inc. subsidiary believes that the PHIZIO platform will be aggressively accepted by the over 200,000 physical therapists in the United States. The bulk of these therapists are independent contractors which is the target market for Lord Global Corporation.
27health Inc. will receive a significant marketing fee for identifying physical therapists and their clients to use the PHIZIO platform. In addition, 27health Inc. will receive 25% of EWLL’s net revenue.
In return of this revenue share, Lord Global Inc. shall provide 50% of all financing it receives subsequent to the completion of the final contract. Lord Global will also issue a convertible preferred that converts into 2,000,000 shares of LRDG common stock with a 4.99% blocker.
Further details can be found in the 8k to be filed.
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