Progressive Care Inc (RXMD)

[Stcgg]

Chicago Ventures Dilution..

On July 22, 2017 there will be a dilution for stock conversion of the $280,000 o/s convertible note to CV plus 10.9% accrued interest. This is the one year conversion anniversary, so at the lower of market or a nickel that is roughly equal to the issuance of 18.2M shares at the current stock price.

Some have the incorrect assumption that RXMD's market cap must be below $3M in order for the conversion to occur at market, however this is used only for the recording of the derivative liability on the balance sheet. Read the bottom of page 19 of the March 2017 10-Q and it clearly states the conversion is the lesser of market pps or a nickel.

July 22nd settles at the Friday close!