Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Armen was throwing crap at the wall and seeing what would stick. Several projects undertaken that have subtly faded from everyone's memory, never to be mentioned again.
Fernandez is likely our only hope, as if it makes a difference at this point. I'll withhold judgement until something happens.
IMO One word... Armen!!!
But that POS won't tell us, will you Armen?
Hey Armen, since you're on here crying to others about how Chucky SCREWED you over and before I jump on your lawsuit why don't you tell us the real reason (THE TRUTH) what happened or why you let Shital Mars go!!!!
Or just admit it YOU SCREWED UP!!!
We at least still had investor calls under Jay. Would still love to know what all happened from August 2020 (Mars’ departure) until NextPlat came in. All that S1 talk for nothing.
Even though minority shareholders are a lesser percentage, they still have rights in matters of mergers and valuations etc. The questions here are:
ARE THE MAJORITY SHAREHOLDERS CONDUCTING THE BUSINESS IN THEIR OWN INTEREST?
ARE THEY UPHOLDING THE FIDUCIARY RESPONSIBILITY THAT THEY LEGALLY OWE TO THE MINORITY SHAREHOLDERS ??
ARE THEY DISCLOSING ALL THE FACTS THE MINORITY SHAREHOLDERS NEED TO
HAVE TO TRANSPARENTLY VOTE.
Sure their recommendation is to vote “FOR”. Their investment is 2 years old, most of us have owned this for several years. In addition to the REVERSE SPLIT, our value has been eroded by THE TIME VALUE OF MONEY.
Can you force a minority shareholder to sell their shares?
Without some provision in your articles of association or your shareholder agreement, or some other form of agreement, you will not be able to force your minority shareholder or partner to sell their share. The effect of this might be that they can block the sale of your business.Mar 5, 2024
Legendnebula post
Share price has been dropping since Shital left. Jay was equally as silent for his tenure. I think if we are being honest Arman is the person to blame for essentially everything including current events.
I don't know where the idea of going private came from.
The proof is:
1) reverse split followed by no news, causing the share price to plummet, and then
2) have the Board of Directors approve the merger with horrendous terms for RXMD
Great post Turbo
Valid comments but the comment regarding the possibility of taking it private after the merger and a reverse is concerning if they pulled it off, especially since they have the controlling interest. We would then officially be done and forced out and paid probably pennies on the dollar
Hold on just a minute. Aside from ass hurt Armans comments and some speculation, what proof is there that Fernandez is trying to screw everyone over. Given his track recond, it would be reasonable to assume he has a plan to get this ship righted.
I think everyone here has short memory. The toxic debt was an issue with everyone, now its gone. Uplisting was an issue, that will be gone in less than a month. This ordeal isnt over until the fat lady sings.
Also, just lol at Armens complete lack of knowledge to sell his company well below value then not have a lawyer come up with some sort of contingencies when he did so. Apparently the suave Charles Fernandez whispered sweet nothings into Armens ears over a few drinks, and the proverbial RXMD panties came off.
On behalf or Harry and Lloyd, who have been correct about shady Fernandez, and cannot be present for this evening's ceremonies, we graciously accept the apology. 😉 No worries JMCK, Fernandez has proven he is as shady as they come.
"We'd like to thank the Academy, the Lord Jesus Christ and all the rose colored glasses long term shareholders for your beliefs that Fernandez should have done the right thing, instead of screwing over investors." 🤬
I appreciate it guys, and yes I'm very frustrated.
Hopefully, we will at least break even fingers crossed 🤞
I accidentally copy and pasted your post and sent it to my wife. She's divorcing me now. Apology accepted none the less.
Proof of concept would actually do wonders before the merger. Like actually show us that Nxpl is generating revenue in other areas other than from Phipps division.
I have appreciated/enjoyed your posts over time, so from my standpoint, no need to apologize and I was not offended at all by anything you posted. These are frustrating times, and I was just offering up my opinion on a few things.
You didn't offend me. I'm in the same boat. I agree that in hindsight Armen made a bad deal and it sucks for us too. However, I don't believe he saw the trainwreck coming. I believe that he worked hard to build something that he lost. That's no excuse and it doesn't help us. But if he can use his superior knowledge of market rules and insider information to tip the scales in our favor a little bit, I'm going to support that effort.
No worries my friend, we have all been there.
I apologize to anyone who I might have offended. I'm down a lot of money and sometimes I allow my emotions to get ahead of me when I should have looked at it objectively.
Again, my apologies.
Keep in mind, that there are many brokers who won't allow their customers buy or sell this stock because its OTC-status, new sec-rules etc etc. But when merger is completed, then you can sell this again, on Nasdaq of course.
Just before when this huge RS is supposed to happen, which will wipe out all longtime shareholders.
I smell something, although not sure what that smell is and where it comes from.
Thank you for posting. I agree.
I figured it was a Freudian slip.
The bearish symbol on my post is a mistake.
EXACTLY!! I knew I had seen it somewhere where the engaged company didn’t conclude their work. I thought that sounded like pure BS when I saw that. So I was right in thinking there was not a true FMV report done. The value was all done internally
You are correct - No valuation was done on NXPL...but it was clearly performed on RXMD
Exhibit B-1 to the Joint Proxy Statement/Prospectus is the Steen Valuation Group, LLC Valuation of One Share of Progressive Care, Inc. Common Stock as of March 27, 2024.
The Valuation Conclusion Letter dated March 29, 2024 sets out a range of $2.00 - $2.20 for a share of RXMD Stock.
I am sorry but had to jump in after reading all these messages. First off, I have never worked at Progressive Care, so I don’t know all the internal dynamics. I am only an investor who has communicated with Armen multiple times over the past 8 or so years. I do not know exactly what he was in charge of nor exactly what his day-to-day duties were at a specific time (over the years, he has appeared to wear many hats), but I do know he has cared tremendously about this company and has put in long hours to see that it grows, which it has, in my opinion. When Fernandez and others took over, Armen did lose a lot of his say (again, just my opinion). I think this merger is fine, but the valuation for RXMD is the issue. I really don’t think Armen had anything to do with the valuation and that is all Fernandez and others. Again, I don’t work there, so I don’t know all the dynamics. The last time I spoke with Armen, we talked about several things that would be good for the company, but Armen was not in a position to make those things happen. He was not calling the shots. He could voice his displeasure and offer suggestions, but those in charge must implement, which they have not. If you don’t like the merger/valuation, then certainly vote NO. Even if it doesn’t “count” it will show that there are shareholders that don’t agree with the board. Anyone holding RXMD shares, who do not see any future with this merger, should just sell and move on. I have the utmost respect for those that do that without flooding the message boards with rants or I-told-you so. I respect those that have questions/concerns, and voice those, but if all you have are complaints and see no future here, then why stay and keep posting?
"On March 11, 2024, NextPlat signed an engagement letter with Steen to perform a valuation of NextPlat in connection with the proposed Business Combination.
On March 26, 2024, NextPlat's management informed the NextPlat Special Committee that the valuation performed by Steen was inconclusive as to the value of NextPlat due to the lack of cash flow projections for a sufficient period of time. Therefore, the NextPlat Special Committee directed Steen to discontinue and disengage from the valuation engagement. The NextPlat Special Committee and NextPlat management worked together to utilize an alternative methodology to determine the NextPlat per share value for the exchange ratio and ultimately concluded that the per share value to be attributed to the NextPlat Common Stock comprising the Merger Consideration should be based on the daily volume weighted average price of the NextPlat Common Stock for the 20-trading day period ended on the trading day immediately preceding the date of the Merger Agreement."
I’ve never been so disappointed to be so right about something
you're not correct..it is a report requested by and prepared for, the special independent committee of RXMD's board per the proxy.
Attached to the Proxy/Prospectus is the Valuation Report prepared for Fernandez that puts RXMD's valuation at between $1.96 - $2.20 per share. If you have a chance take a look at it...
shhh..certain people here aren't interested in facts.
That's what's so amusing here...RXMD had gotten an independent valuation but "investors" here seem to think there was some deep state plot to steal this company from them.
What do you propose? Sit back while the merger with horrendous terms for us shareholders go through?
I've been critical of Armen in the past but at least he's giving us a bit of hope right now.
Seriously, you gonna sit back while the merger goes through?
I voted no, but I doubt it'll do anything.
Interesting thinking here, makes you really wonder about everything posted here..now doesn't it?
Since the first week of August, the Accu/Dist graph has been going straight up. That tells me somebody is buying up the shares. I beginning to wonder who. Who showed up here the first week?
Maybe some shady snake oil salesman would do that, but it's hard to believe that a successful businessman with proven track record would do that kind of fraud. And how would he grow the company, stock markets are right place to raise some money and grow the business to the next level. And when the business success then biggest shareholders gets fatter too.
I would still like to think that there is a bigger plan and vision on the background how to develop this company. Its execution takes its own time, which can be a very frustrating for us, the shareholders.
Maybe after seven bad/lean years it's finally time for seven good/fat (fiscal) years.
It will take a miracle for us to get our money back now and I sure as hell don't see coming from that asshate (Armen). He's on his fricken own. Just like he's always been. Goodnight
I respect your opinion MIKE but it's (1000000%) Armen's fault we're in this predicament!!! He just doesn't get a free pass from me PERIOD!!! I find it ironic he's on here now seeking help when he didn't give a chit about us for years, so piss on him. That's my opinion!!!
Are you sure it's pandering? What purpose would that serve? He has a lot on the line, more than us. Though, my loss is significant to my wealth, as is yours.
Are you sure he's not trying to build a following, a united front against being openly robbed of value. A fight vs. rolling over and taking it? I'm for any action against this, from any direction.
I don't know what happened years ago when the deal was made. Perhaps someone wasn't honest. Perhaps everyone. Perhaps no one. We don't know. We only know that we feel angry. I'm in favor of letting this rebellion play out and see what happens. I call for a vote of no confidence in chancellor, err, CEO Fernandez. I have lost trust.
The Flaker being here and coining the phrase "Crybaby RXMD shareholder" was really eye opening. That is the disrespect we can continue to expect, IMO
Why are you asking us Armen??? You know why!!! So stop with the pandering bud.
Good luck with that.
As a shareholder, I'm honestly confused by the valuation report indicating ongoing cash burn and minimal 3% growth. Why would NXPL acquire the company with this crapy trend? Are they planning to buy it just to maintain cash burn with almost no growth? How is the NXPL board voting to issue a ton of stock to buy a company that will be adding to their losses? Just thinking... asking obvious questions.
So Fernando or chucky has a history of making great returns for shareholders. Why start dicking over shareholders with Rxmd and nextplat? If he were to reverse and then take it private after letting the share price fall for two more year he would lose all trust in the investment community. Those are the two pieces I have trouble gettin my arm’s around. Insight?
Exactly......
Armen knows that!!! He's just pandering on this board.
Followers
|
735
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
196259
|
Created
|
01/09/11
|
Type
|
Free
|
Moderators gedi8 Truth022809 stockforce TrackDude MrMike241 |
Progressive Care Gains SEC Reporting Status
See on website
Miami, FL – April 12, 2022 – Globe Newswire via NewMediaWire – Progressive Care, Inc. (OTCQB: RXMD) (the “Company”), a personalized healthcare services and technology provider, today announced that, effective April 11, 2022, its Registration Statement on Form 10 filed with the U.S. Securities and Exchange (the “SEC”) to register its shares of common stock under Section 12(g) of the Securities Exchange Act of 1934 (the “Exchange Act”) became automatically effective.
The effective Form 10 obligates the Company to file Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, in addition to complying with all other obligations under the Exchange Act. In addition, management and certain shareholders are subject to the beneficial ownership reporting requirements of Section 13 and 16 of the Exchange Act.
Alan Jay Weisberg, Chairman and Chief Executive Officer of the Company said, “For me, it was always important to have the Company become fully reporting with the SEC. I know how critical it is for individual and institutional investors to have the Company file its financial reports with the SEC as it provides a higher level of confidence in the information reported by the Company and a superior level of transparency. I believe that the Company’s compliance with the Exchange Act will ultimately help drive shareholder value and enable us to access higher quality institutional capital. We remain committed to strong corporate governance and steadfast in pursuit of our journey to Nasdaq.”
To view the Form 10 filling, please click:
https://www.sec.gov/Archives/edgar/data/0001402945/000149315222009357/form10-12ga.htm
Key Financial Highlights for Year Ended December 31, 2021
• Revenue at $38.9 million
- COVID-19 testing revenue of approximately $4.3 million
- ClearMetrX TPA and pharmacy dispensing revenue related to 340B earned $2.8 million on total billings of $19 million
• Gross margin increased to 26% in 2021, from 23% in 2020
• EBITDA increased to $167,000 in 2021 from $7,000 in 2020
• Cash balance of $1.4 million as of December 31, 2021
Business Highlights for the Year Ended December 31, 2021
• Re-implemented upgraded pharmacy software system
• Expanded COVID-19 business into corporate-focused services and institutional clients
• Strengthened reputation in the 340B sector by adding eight new contracts
• Filed initial S-1 registration statement
• Submitted application for uplisting to Nasdaq
Q4 2021 Reflected a Positive Bounce Back in Business
• Increase of 10% in prescription revenue to $8.9 million in the fourth quarter of 2021, from $8.1 million in the third quarter of 2021
• Increase of 8% in prescriptions filled to 114,000 in the fourth quarter of 2021, from 106,000 in the third quarter of 2021
PRODUCTS AND SERVICES
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
concerns
5. 24 hour emergency support
6. Timely availability of specialty medications due to our extensive inventory
7. Access to newly developed medications
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.
Toll Free: 888-919-7411 Phone: 305-919-7399 Fax: 305-919-7424
HOURS
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.
Progressive Care Reports Full Year 2021 Financial Results Highlighted by $38.9 Million in RevenueGLOBENEWSWIRE – 11:16 AM ET 03/29/2022 |
Progressive Care’s PharmcoRx Gains Status as Approved COVID-19 Test Vendor in the U.S. for Travel to Beijing Winter Olympic Games in ChinaGLOBENEWSWIRE – 7:00 AM ET 02/02/2022
|
Posts Today
|
0
|
Posts (Total)
|
196259
|
Posters
|
|
Moderators
|
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |