To Review as of Halloween 2014:
1. Merger executed March 31, 2014; complex but audited 10-K submitted (late); Pet Airways debt retired
2. PraXsyn name change and PXYN ticker change completed; PAWS retired
3. 40 Employees; pharmacy lab buildout completed
4. New website launched; www.praxsyn.com
5. Licensed in 12 states with substantially all revenues coming from just Southern CA in last Q
6. New in-office services identified; Garbino heading expansion
7. $3M in sales in Nov 2013 is now likely $60-65M in Q3 2014
8. $200M projected gross revenue in 2014 and $100M net revenue
9. 344M shares O/S, 73M shares float and 1.4M shares volume each day
10. Based on yesterday's closing price; $17.5M market cap (equivalent to 1 month of 2014 total sales)
11. Market cap is usually 110% of sales = $220M or 13x current level for 2014 (or to say differently - stock is 13x undervalued currently)
12. 10-q Q3 numbers should show improvements in cash flow and likely showing profitability
13. Hydrocodone reclassification (PXYN only provides non-narcotic pain creams) requiring PCP visits is catalyst driving sales boom along with pain management physician referrals (ie. Trestle Pain etc.)
14. Company has created NexGen Med Solutions; wholly owned subsidiary for collections and billing formed last quarter to help PXYN manage cash flow more efficiently - HUGE development
15. Hired Broadridge as Transfer Agent and registrar on Oct 23rd. PXYN is now "on the radar". Currently there are no instutitional investors and as they start to take positions, the stock should move accordingly.
In summary, the group here expects good progress in the next two quarters with a likely profit this Q for the first time in PXYN's 3 quarters of existence. The company has been methodically working on the issues that affect it most; factoring (NexGen), stock compensation for TPS (done early Sep),strategic importance of TPS (JG on board and company awarded 150K pref. shares), settling warrant debt and lawsuits and preparing for growth with lab expansion, 12 state licenses and employee hiring. Behind all of this are three huge winds in the sails of PXYN; boomer's aging, poor economy and opioid reclassification. Not many companies seem to be hitting their stride at the perfect time as PXYN is.
