2016 Revenue: $18.32M http://www.otcmarkets.com/stock/RXMD/profile
2017 Revenue: $20.1M
2018 Revenue: $20.95M
2019 Projected Revenue: $30M (Family Physicians Rx acquisition was closed on June 1, 2019)
2020 Projected Revenue: $40M +
Uplisted to OTCQB on 12/5/2017
To be uplisted to OTCQX in early 2020
The company's goal is to be uplisted to the NASDAQ ASAP
901 N Miami Beach Blvd, Suite 1-2
North Miami Beach, FL 33162
New Headquarters: 400 Ansin Blvd, Hallandale Beach, Fl 33009 (11,000 sf)
11/28/2018 Progressive Care Signs Letter of Intent to Purchase Florida Based Pharmacy with $18 million in Annual Revenue
12/21/2018 Progressive Care Enters into Material Definitive Agreements to Purchase Property for New Pharmacy Location in South Florida https://www.otcmarkets.com/stock/RXMD/news/Entry-into-a-Material-Definitive-Agreement?id=213977
7/2/2018 Progressive Care Completes Acquisition of Palm Beach County Pharmacy - Touchpoint Rx, LLC
The following are our strategic goals for 2019:
- Achieve 40,000 prescriptions filled in a single month
Increase annual same store sales to $24 million
Close on second acquisition leading to consolidated revenue of over $35 million
Secure additional 340B contracts and long-term care facility relationships
Achieve accreditation for non-sterile compounding
Achieve full enterprise profitability and earnings growth
Install Tele-PharmCo enabled kiosks and equipment in senior living communities and large-scale clinics
Develop exclusive line of CBD products
Conduct PharmCo evidence-based case studies
Release PharmCo’s first televised advertisement
Become SEC registered and fully reporting
2019 Shareolder Letter Closing Remarks
We start 2019 gazing out into an ocean of opportunity. Standing on the deck of a ship built to withstand headwinds and uncertainty, we set a course forward with fortitude in our spine. We who work here every day, buzz and hum with electric invigoration as we anticipate the exciting days ahead for a company with so much promise and purpose. In 2018, we dug in, fought hard, built a trust in each other to take leaps together. The healthcare landscape changed and we persevered, undeterred by circumstances beyond our control. We grew, we evolved, we stepped forward to lead the industry and today, while we appreciate the difficult road behind us, we look to future.
As shareholders, we place our well-being and futures in the hands of this organization. We continue to believe in its mission and know, through faith and foundation, that the future is bright, and our achievement will rest on the solidarity of our team. It is humbling, the trust bestowed upon us who spend long days and nights here and we are immensely grateful for that trust.
2018 was a year of pride, strength, execution but 2019 will make the company of 2018 unrecognizable in the distance.
| || ||***SHARE STRUCTURE*** |
RXMD Security Details
Authorized Shares- 500,000,000 a/o Jan 15, 2019
Outstanding Shares- 431,221,376 a/o Jan 15, 2019
Float 334,506,590 a/o Nov 14, 2018
2013 net revenue: $9.33M
2014 net revenue: $11.27M
2015 net revenue: $13.64M
2016 net revenue: $18.32M
2017 net revenue: $20.11M
2018 net revenue: $20.93M
Projected 2019 net revenue: $30M +
PharmCo Video for new investors. All people in this video are real PharmCo employees and customers. https://www.youtube.com/watch?v=dpN9CDqOydY PharmCo Rx Pharmacy is a full-service pharmacy that is unlike any other pharmacy in South Florida. We provide each individual patient with a dedicated, highly qualified team to ensure that the respective needs of all our patients are met quickly and affordably. We are completely dedicated to serving our communities at all times. We proudly support Empower “U¨, PRIDE, Care Resources and many other charitable organizations throughout South Florida. The PharmCo team supports organizations of all religions and faiths, working to bring supplies, food, education and information to all people in need. PharmCo is pleased to sponsor health fairs and local outreach programs in all communities throughout South Florida.
Touchpoint RX Team PharmCo Pharmacy Team
Progressive Care Inc. Issues Audited 2018 Annual Report Conference Call Highlights
PROGRESSIVE CARE RELEASES AUDITED 2017 ANNUAL REPORT!
MIAMI, March 22, 2018 — Progressive Care Inc. (OTCQB: RXMD), a healthcare services and technology company, announces 2017 annual results.
The Company announced over $20 million in net revenues, a 10% increase over 2016, and positive earnings of approximately $50,000. This represents the second consecutive year that the company has accomplished net positive earnings in its audited financial statements. Cost of goods sold increased relative to sales due to increases in DIR and other PBM fees implemented in 2017 as compared to 2016. Prescriptions filled increased 5% to over 225,000 during 2017. The company also filled over $2.7 million worth of prescriptions (Not Included in Net Revenues) for 340B entities during 2017, generating fees to the pharmacy of approximately $113,000, which is over a 400% increase over 2016.
The annual report showcased the continued development of the Company’s portfolio of healthcare services. Noted within the Management Discussions are the key accomplishments of 2017 which include uplisting to OTCQB, the addition of independent board members, tele-pharmacy platform development, 12 non-resident state licenses and a 5 star pharmacy rating. The performance of the pharmacy has been recognized by Outcomes, the leading MTM platform, and Humana’s Quality Network for reaching performance metrics in key areas.
The Company has declared ambitious plans during the 2018 fiscal year starting with the announcement of a planned acquisition of a pharmacy in Palm Beach County. In addition to year-over-year sales growth and profitability, the Company plans to expand into the development of proprietary products and technologies that will further diversify the Company’s healthcare service model. Though there are many risks disclosed in the annual report that stem from changes in the industry and government regulation to unforeseen market turndowns, the Company has a positive outlook on the coming year.
“Filing our second year of audited financial statements 10 days early has a profound significance for me personally,” stated S. Parikh Mars, CEO. “In all the years, I have worked with Progressive Care both inside and out, we were not able to accomplish this goal until now. I could not be prouder of the accounting team we have put together this year and a staff that knows how to do things right every day. I hope that we are delivering the transparency our shareholders expect and the results that motivate them to keep believing in this company.”
WOW! The company also filled over $2.7 million worth of prescriptions (Not Included in Net Revenues) for 340B entities during 2017, generating fees to the pharmacy of approximately $113,000, which is over a 400% increase over 2016.
Progressive Care, Inc., through its subsidiary, PharmCo, LLC, engages in the distribution of pharmaceuticals. PharmCo also provides related pharmacy consulting, and durable medical equipment and accessories to retail and long term care customers, such as skilled nursing facilities, assisted living facilities, retirement centers and communities, doctors' offices, and clinics. In addition, it offers purchasing, repackaging, and dispensing of prescription and non-prescription pharmaceutical products for long term care customers. PharmCo utilizes a unit-of-dose packaging system as opposed to traditional vials used for its retail customers. Further, it provides computerized maintenance of patient prescription histories, third party billing, and consultant pharmacist services. PharmCo's consulting services primarily consist of evaluation of monthly patient drug therapy and monitoring the institution's drug distribution system. It also offers durable medical equipment in Florida. In addition, PharmCo operates as a retail pharmacy and offers traditional pharmacy services to its retail customers, as well as free home delivery twice a day. Further, it offers brand name products customary in retail drug stores, nutritional supplements, and community based products. The company was formerly known as PharmCo Corp. and changed its name in October 2010. Progressive Care, Inc. is headquartered in North Miami Beach, Florida.
PRODUCTS AND SERVICES
PharmCo is a provider of prescription pharmaceuticals, specializing in anti-retroviral patient management and durable medical equipment. The company also provides long-term care solutions
to skilled nursing facilities (SNFs), assisted living facilities (ALFs), retirement centers and communities, doctors’ offices and clinics.
ANTI-RETROVIRAL PATIENT MANAGEMENT
Advances in HIV/AIDS treatment has greatly increased the ability of those suffering from the disease to manage their symptoms and live longer, healthier lives. Effective management of the disease begins with taking the right medications with the right dose at the right times. For those in the HIV/AIDS community, adhering to the very strict dietary and medicinal requirements can be extremely difficult. Normal activities are often interrupted and sometimes prevented by the struggle to be in compliance.
PharmCo wants to ease this burden on those impacted by this life altering disease. We aim to make compliance with prescription regiments as easy as possible. By understanding the sensitive nature of HIV/AIDS and the needs of those afflicted, PharmCo provides the following services to patients with these special needs:
1. Confidential packaging
2. Packaging tailored to suit a patient's individual life style
3. Free delivery from a variety of sources including PharmCo's proprietary delivery fleet
4. A staff that is well trained in acute illnesses, who understands the patient's needs and
5. 24 hour emergency support
6. Timely availability of specialty medications due to our extensive inventory
7. Access to newly developed medications
DURABLE MEDICAL EQUIPMENT
PharmCo is a fully accredited DME supplier. In November 2010, as part of Medicare's competitive bidding, PharmCo was awarded a three year contract to supply hospital beds, oxygen supplies, power wheelchairs, scooters, walkers, and other related equipment and accessories in South Florida. PharmCo carries an extensive inventory of equipment and accessories with most special requests being honored with same day or next day delivery. The company offers both sales and rentals with size, color, style, and brand options available on the majority of products. Most importantly, the staff is knowledgeable, helpful and dedicated to providing superior customer service.
PharmCo offers home service and maintenance, defective product replacements, and free home installation and instruction.
PharmCo's institutional clients have come to depend on the company's proven accuracy, dispensing methods, and immediate response time. With PharmCo compliance and efficiency assistance, long term care institutions are able to provide the highest level of continued care to their patients. PharmCo provides purchasing, repackaging and dispensing of both prescription and non-prescription pharmaceutical products. PharmCo utilizes a unit-of-dose packaging system as opposed to traditional vials used for its retail customers. This method of distribution improves control and patient compliance with recommended drug therapy by increasing the timeliness and accuracy of medication dispensing. PharmCo also provides computerized maintenance of patient prescription histories, third party billing and consultant pharmacist services. Its consulting services consist primarily of evaluation of monthly patient drug therapy and monitoring the institution’s drug distribution system.
Long term care institutions can count on PharmCo for the following services:
1. On time, same day deliveries available twice a day with 24 hour emergency support
2. Language assistance in English, Spanish, French, Creole, Portuguese, Russian, and Hebrew
3. Unit-dose packaging options tailored the facility's needs
4. Prescription data accuracy
5. Extensive medication and DME inventory
6. Access to OTC medications, nutritional products and personal hygiene items
7. Provision and review of medication carts
8. Monthly pharmacy consultations- drug interactions, redundant therapies, side effects, etc.
9. Compliance updates and consultations
10. Staff Training
11. Exceptional customer service.
LOCATION, HOURS AND SERVICE AREA
NORTH MIAMI BEACH
901 N. Miami Beach Blvd. Suite 1, 2, North Miami Beach, FL 33162
Toll Free: 888-919-7411 Phone: 305-919-7399 Fax: 305-919-7424
Monday- Thursday 8:30 AM - 6:30 PM
Friday 8:30 AM - 6:00 PM
Saturday 11:00 AM - 4:00 PM
PharmCo currently services: Miami-Dade, Broward, Palm Beach, Martin, and St. Lucie Counties.
PharmCo believes its competitive advantage is to provide superior service to our customers. As a pharmacy that caters to those patients with specialty and long term health care needs, we strive to go above and beyond to give our customers the attention and care they deserve.
Our staff is specially trained in the care and management of patients with acute illnesses and HIV/AIDS. We ensure packaging that meets our customers' privacy needs and options to suit their individual life styles. We carry an extensive inventory of medications including some of the latest treatments for acute illnesses direct from manufacturers.
PharmCo takes a personal approach to customer service by providing personal attention to the doctors, clinics, LTC facilities and others who use our products and services to provide quality care for their patients. For example, on a monthly basis a PharmCo representative will consult with a facility or clinic to review drug interactions, eliminate redundancies in therapies, provide medication dispensing training, and provide updates on new regulations. PharmCo’s institutional clients have come to rely on our proven accuracy, dispensing methods and immediate response time to allow continuation of care for their patients.
For all of our customers, we facilitate a strong line of communication between their doctors, insurance providers, and care givers. Members of our diverse, multilingual staff are on hand to assist with prior authorizations and refills.Our staff often contacts insurance providers on behalf of a customer to determine coverage and help them navigate other financial assistance options. We offer free delivery to all of our customers with no minimum purchase.
If you're trading on the OTCBB and you're new to RXMD, it would be a very smart move IMO to diversify your "investments" and take 10-20% of your funds and get a starting position in this stock for the long-haul growth toward this 40-50-60x gain opportunity over 3-5-7 years. Add when you can on any dips and stay long, and use other funds for flipping other penny stocks if that's something that appeals to you. Wanna retire young? This is a road map that's easy to read
Pictures The following photo is a street view screen shot from Google on December 15, 2015 (click the image for full view) The following images are recent photos after makeover of storefront, processing and office areas in Autumn 2015
The following pics contributed by RXMD shareholder on November 13, 2015
(click the images for complete panoramic views)
Images Of New Work Stations (Aug 2016)
Caught some images after popping by this month of the new work stations they just installed. Much larger work area to accomodate more people!
$RXMD recent news/filings July 17, 2019 Progressive Care Inc. Doubles Revenue: Reports $3.3 Million for June 2019 January 17, 2019 Progressive Care Releases Open Letter to Shareholders
January 11, 2019 Progressive Care Executes New Capital Funding Facility
January 10, 2019 Shital Mars CEO of Progressive Care Inc. Garners Coverage in Authority Magazine as a Hero of the Opioid Crisis
December 4, 2018 Progressive Care Inc. Garners International News Coverage in Leading Trade Publications for Its Efforts to Improve Adherence
November 19, 2018 Progressive Care Inc. Announces Record-Breaking October 2018
November 15, 2018 Progressive Care Inc. Reports Best Nine-Month Revenue Period in Company History in Q3 2018 Financial Filing November 14, 2018 Progress Care Releases 2018 Third Quartelry Report November 1, 2018 Progressive Care Inc. CEO to Speak at 5th Annual Florida Telehealth Summit in St. Pete Beach, Florida October 16, 2018 Progressive Care Inc. Announces 40% Year-Over-Year Increase in Prescriptions Filled and Continued Strong Revenues in September
September 18, 2018 Progressive Care Inc. Announces Record Number of Prescriptions Filled and Strong Revenues During August 2018 September 10, 2018 Progressive Care Announces Newly Redesigned Website for Wholly-Owned Subsidiary PharmCo, LLC
read full: http://finance.yahoo.com/q/is?s=rxmd&annual
## source: finance.yahoo.com *********************************************************
OTC Market Place: OTCQB
CIK code: 0001402945
Company name: Progressive Care, Inc.
Company website: http://www.progressivecareus.com
Incorporated In: DE, USA
$RXMD extra dd links
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=RXMD+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=RXMD+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=RXMD+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/news - http://finance.yahoo.com/q/h?s=RXMD+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/RXMD/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=RXMD+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/RXMD
DTCC (dtcc.com): http://search2.dtcc.com/?q=Progressive+Care%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Progressive+Care%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Progressive+Care%2C+Inc.&x=0&y=0
WHOIS (domaintools.com): "" rel="nofollow" target="_blank">; rel="nofollow" target="_blank">http://whois.domaintools.com/http://www.progressivecareus.com
Alexa (alexa.com): "" rel="nofollow" target="_blank">; rel="nofollow" target="_blank">http://www.alexa.com/siteinfo/http://www.progressivecareus.com#
Corporate website internet archive (archive.org): "" rel="nofollow" target="_blank">; rel="nofollow" target="_blank">http://web.archive.org/web/*/http://www.progressivecareus.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/RXMD
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001402945&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=RXMD&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=RXMD
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=RXMD+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=RXMD+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=RXMD
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=RXMD
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=RXMD+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/RXMD/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=RXMD+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/RXMD.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=RXMD
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/RXMD/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/RXMD/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/RXMD
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/RXMD
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/RXMD:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=RXMD
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=RXMD