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That makes no sense. RXMD's current outstanding shares total is 6.4 million. How would that convert into 7.3 million shares of NXPL?
Charlie will reward himself and others handsomely for seeing this deal through. We all know this....
Not exactly correct. I called the company and was told that while the exact amount would only be determined at closing, we should "expect" around 25-26 million shares outstanding after the merger (so that could mean 26-18.7= 7.3 million new shares).
I also disagree on some of the stock compensation - it was actually down significantly last quarter due to the falling stock price and since it hasn't recovered, means it should stay down.
Not quite that bad, but also not good. If we merge when NXPL is trading at current levels, it'll be as if we're getting around $1.80 per share. ($1.22 NXPL share price x 1.48 conversion).
Reverse split was at $5.90.
We'll need to see a 328% increase in stock price to get our value back to where it was when the reverse split took place.
If you've been here long enough, you know the price was already down a lot when Charles did the reverse split, all do to his handling of the company.
So it's not as if a 328% gets us up to a respectable level. It gets us back up to the low point where the RS took place.
A $5.90 share price puts us at a market cap of north of $165 mil. You think we'll be vastly undervalued at that point?
We. Got. Fucked. Our upside is being wiped away in this merger.
You have to account for the conversion ratio. That puts the market cap between $35-36 mil.
If you've followed Charlie Fernandez the last few years, he has a track record of rewarding himself, other directors and the Board with nice stock bonuses when they make deals. I expect the market cap to be around $40 mil after those bonuses are accounted for. Could easily be $45 mil. Now, it's fine to disagree with me and say we shouldn't count those stock bonuses until we know what they are. That's fair, my point is that we know they'll be granted, so why not estimate?
And it's possible those won't be announced until EOY (end of year). Regardless, we know they're coming.
Would have to 8x to get back to where we started pre bs split
how do you get to a $40 million market cap for NXPL? Currently there are 18M shares out and after the merger, perhaps 25 million. With the current stock price of NXPL being $1.22, that means the combined company would have a market cap of around $30 million. That's before you count the $25 million in cash they have today.
RXMD: we currently own shares in a company with a market cap of $10 mil with $55 mil in annual revenue.
Double the share price and we're still massively undervalued.
After merging, we'll have shares in a company with a market cap of $40 mil with $70 mil in annual revenue?
Double the share price and the market cap becomes MORE than annual revenue.
Our upside gets fucked in this deal.
Fernandez had better stop issuing himself and the rest of the directors boatloads of stock after this merger goes through or we'll just continue to be fucked.
If only the Board of Directors would actually uphold their fiduciary duty as legally required.
I recall some people ragged on RXMD for "fluffy" press releases. I believe Gedi spoke to them on this matter and Fernandez said being social wasn't his style.
If he's getting sh@t done behind closed doors, then so be it. I've already staked my bets and wasted years, show me the money.
Yep hopefully he has a good plan in store.
If he spoke with his shareholders and showed some interest in our concerns maybe we would feel otherwise..
That's what inspires me, Fernandez's history of building successful businesses
If history is a means to predict the future, Fernandez expertise as a business man should bode well for us. Good luck, don't get too upset.
Yes that I understand, the cause for concern is if there is a plan to take it all private after all this goes through pending the gang has a majority ownership of nexplat. Hopefully that is not the criminal plan. They could reverse then pay us nothing to force us out then they have it all for next to nothing. I would just be happy with getting 70% of my money back at this point.
How can you say erased, stop posting complete rubbish.
It’s a merger, 1.48 shares of NXPL for every 1 share of RXMD.
Unfortunately just like there is no value in my rxmd investment which may be completely erased by Fernando in a few weeks
board is dead because there is no value here (like I said)..and because of the person with the delete button.
Legendnebula and flaker seemed to have both come and gone during the same period. Board is dead now.
Judgment Day in less than 3 weeks 😳
I think Armen is butt hurt for the same reason we should all be butt hurt. They fucked is with a massive RS, knowing they were never going to uplist rxmd on its own. Since then, the price is down about 80% or more and our shares along with his are worthless
Of course, it was Armen, Stevie Wonder can see that 🙄 It all started when he got butt hurt because Shital Mars was way too transparent for his liking so he either forced her to resign or be fired. Then put dementia Jay in her place next gave away the company to Fernandez aka Chucky....now here we are waiting to see if are screwed or not. September 15th "Judgment Day"
Probably it's a good thing Armen is gone. He sold us out for pennies on the $ good luck to all. Hopefully, we can at least get our money back, or close to it, live and learn.
Has there been any actual proof of any shenanigans to come? Or are we going off of Armen and his butt hurt tirade? If I had to take a wild guess, Fernandez probably severed ties because he knew Arman had his legal black eye and is a dope, which is why Armpit is so butt hurt. And if not, hey, guess who got us into this mess? Oh right, he did.
You’re welcome my friend. Lots of us have been here for several years…what’s another 2weeks. 🤔
Ok gedi. I've waited this long. You are always the voice of reason my friend.
Thank you Sir.
Everyone if it’s possible let’s chill and not argue amongst ourselves. Clearly none of us are happy but in a just over 2 weeks the merger will happen and the Fernandez should start to pull back the curtain. Despite the fact that Rxmd hasn’t done anything share price wise, Nxpl has jumped over 20 percent. This bodes well for shareholders simply because in a couple of weeks we all will be Nxpl shareholders. And our Rxmd share count will increase by almost 50%. In reality because of the merger it really doesn’t matter what the Rxmd share price is or how many shares have been traded because the bottom line is we will all be Nxpl share holders soon. Good luck to us all.
Sorry, those aren’t facts just your opinions.
I have done that several times. Pay attention!
$RXMD
Please present your facts!
No matter what, the management team has screwed us over. FACT.
$RXMD
Not likely.
$RXMD
Sorry...I'm hoping for a POP
Exactly, at least wait to see what the merger does.
I hoping for a pop and some news 🤞
Why are you trashing management now? Can’t you wait until the merger on September 13? You may have to eat your words. IMO
Another huge thank you to Mr. Fern*ndez for royally f***ing all his loyal shareholders. What a do*che bag you have turned out to be.
Is that when Armans court case appears on Judge Judy?
2nd week of September should be interesting, to say the least.
Why aren’t you writing this to the company for the answers? Instead you complain here and expect some results??
Really not sure what you are trying to say. Just because RXMD is merging with NXPL, this does not mean that their business plan has changed. It’s pretty clear that their service side is expanding and the reason why we have seen such an increase in margins.
Does anyone know the REAL reason RXMD did not uplist to NASDAQ?
RXMD was the more progressive company yet it’s been rolled into NXPL, why did this not go the other way around?
There must have been some terms and conditions surrounding this transaction. Have the terms been abandoned? And the path of least profitability chosen.
Since RXMD had a solid plan to roll out over the total US, had solid 340B growth why did we choose the harder option? The RXMD model would have been easier to expand here in the US than trying to fight our way into China. Since RXMD would bring profitability, then we should roll out locally then use the profits to expand. It’s clear that RXMD was doing something more right than the large pharmacies that now forced to create new models since their old one has failed. I noticed large signs in THE LARGEST PHARMACIES courting 340B patients. RXMD did this RIGHT AND it should have been our first area of expansion.
For NEXTPLAT this was their DIAMOND and they totally overlooked it. My hope was they came to create a win-win situation, injected the cash into the most profitable segment and would become profitable.
Why are we fighting the barriers to entry when the entire United States is at our fingertips.
RXMD survived all kinds of hardships, the worse being the FIFE debt, we needed the debt extinguished so we could have positive cash flow. If you had no intention of living up to your words, WHY?
What was your ulterior motive?
Why did you change the split ratio to 200:1 from 100:1 last minute?
Why did you not uplist the stock to the NASDAQ?
If you are so transparent, why can’t we see through your actions.
I am asking the current board of directors
Are you proud of your actions?
Have you been fair to the minority shareholders?
Are you complying with the rules?
Do you want to build a majority/minority shareholder coalition or are you only about you.
Put yourselves in our position and ask your conscience if you have one
Have we done the right thing??????
Then you can come back to us, apologize and do the right things.
This is very unfortunate.
I think it's lengendarynebula.
Hopefully share price continues to climb and we realize this forum and its banter do not necessarily reflect the market.
Enjoy the weekend and good luck.
I, personally don't believe there's any truth in Armen.
And from looking at his past I don't foresee it changing.
All truths will be revealed
In 3 more weeks, we’ll see what sticks.
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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
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