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I was wondering if Chucky used legal action to silence Armen here. IDK, just a thought.
My experience is that whoever has the biggest wallet often wins legal disputes, because of the time and cost to constantly respond with lawyers. You can literally get buried in tedious defense responses. If you are an individual fighting a team, it can be overwhelming. And when the clock is ticking, right or wrong, they win the time war.
Good Luck RXMD Shareholders!
I belive the spread will be very important. If they come back with say a 10$ valuation, then there is some ammo. If they come back with a 3 $ valuation then nothing happens.
The fact that he has already told shareholders that a review was being done means he is gonna tell others. Otherwise, in a class action or any other suit he would become party to it if he made a side deal with the company now.
Jmo
He may be still waiting for the other valuation report to get finished.
How sure are we that he's actually going to share the results with the rest of the shareholders? Would we put it past him to use it solely for personal gain to get a sweet deal for himself?
Let's say the report indicates we should be getting 5 shares of NXPL for every 1 share of RXMD. Armen says "hey Chucky, give me a position pulling in a quarter mil a year, some stock bonuses, and in exchange I'll keep this report private."
Chuck might tell him to go fuck himself, but who knows. I doubt Chuck cares that he's fucking over RXMD shareholders in this deal. That's the biggest obstacle. He and the Board need to honor their fiduciary duty to us. Unfortunately they haven't done that.
Nothing new here, but it's always good to review where we are just now.
Second Quarter 2024 Financial Highlights:
- Total revenues increased by approximately $1.9 million, or 17%, to approximately $13.5 million during the three months ended June 30, 2024, compared to approximately $11.6 million in the prior year period.
- Prescription revenue, net of pharmacy benefit managers (“PBM”) fees, increased by approximately $1.1 million, or 11%, to approximately $10.5 million during the second quarter of 2024, compared to approximately $9.4 million in the prior year period.
- 340B contract revenue was approximately $3.0 million during the second quarter of 2024, an increase of approximately $0.9 million, or 41%, compared to approximately $2.1 million in the same prior year period. The increase was primarily attributable to an increase in new 340B contracts that were secured late last year.
- Overall gross profit margin in the second quarter of 2024 was approximately 35%, versus approximately 31% in the second quarter of 2023.
- Cash balance as of June 30, 2024 was approximately $8.5 million as compared to approximately $7.9 million as of December 31, 2023. The Company generated approximately $0.8 million of cash from operating activities for the second quarter of 2024.
Organizational Highlights and Recent Business Developments:
- On April 12, 2024, NextPlat announced a proposed merger with Progressive Care Inc. in an all-stock transaction which is expected to provide annual operating cost reductions.
On August 6, 2024, the Company filed the definitive proxies regarding the proposed business combination and set September 13, 2024, as the Annual Meeting date for the shareholder vote. If approved by shareholders at the Annual Meeting, and subject to customary closing conditions and requirements, the Company anticipates completing the transaction in early October.
- Business development activities targeting 340B covered entities conducted late last year combined with enhanced sales efforts and resources dedicated to long-term care and assisted living facilities launched earlier this year, have contributed to increased revenue and growth in prescription volumes at its PharmcoRx pharmacies.
- The Company’s focus on providing high-touch, data-driven personalized patient care services at its concierge PharmcoRx pharmacies is a significant differentiator in the market compared to the broader “commodity” retail sector which is currently closing thousands of locations.
https://www.otcmarkets.com/filing/conv_pdf?id=17759424&guid=JnO-kH1gJUhJ2Vh
I just took the liberty of voting. Against, regarding the proposed merger. Quite frankly I dont care at this point. I want my time and money back. Sucks to Armen.
Neither have I
Great question. I haven't.
What happened with Armens' reaprasal of the rxmd share price anyone talk to him ?
9 more days. Prepare thine anuses.
RXMD shareholders: the terms of this proposed merger are atrocious for us.
Vote NO
Have a good one.
Everyone have a safe Labor Day weekend. Two week countdown starts tomorrow.
Yes I voted. No was my vote. Another head scratcher for them right?
Enjoy the three day weekend. Hoping and praying things change course post merger.
I thought I was watching the evening news. That was a movie?
LOL... Soylent Green, classic film Turbo.
Agreed. The good news is the left will be the first to be turned into soilant green.
I respectfully disagree. But then again, I'm at the point where i think politics is smoke and mirrors.
You as an individual have the largest impact on your own life. Not a politician.
If I'm still checking this board in 10 years and I'm not rich, please put a pillow over my face while i sleep.
Two more weeks till the big day. Did you vote yet Rio?
Be greedy when others are fearful.
- Charles Fernandez
Really current NXPL conversion price is $1.78. It’s all about the NXPL share price at the moment, prior to merger.
Anyone adding rxmd shares right now needs their brain checked
I am here. been here liver here...... add at the lows...
You should check out ticker RXMD. It's right up your alley.
Flatliners that have already R/s'd are sexy.
Yes I am aware of the what’s happened, but insiders buying when there are some pending issues is very intriguing and reason I bought a few.
They did a Reverse in February.
Thanks JS...I'll take a look.
Now while we wait for RXMD and NXPL to make their move, go take a look at VCNX. It’s certainly not without risk, but I have a real feeling something is going too happen real soon with this stock.
Ok the risk, running out of money and Nasdaq non compliant I think by end of September, so does not sound great.
Positive note, recent data for its Alzheimer’s drug looked pretty good, and insiders just bought a lot of shares. Recent PR talked about a development partnership, and last insider buy was August 13th, so I believe we could potentially hear something after the insider purchase rule expires which I think is sometime mid to end of next week.
It has a super low share count with most owned by insiders of institutions, and float is minuscule.
Shares have started moving north again after quite sometime dropping.
Go take a look.
Gedi, I know we can talk about how quiet management have been prior to merger, but as soon as merger was announced then it pretty much forces them to be quiet. They can’t buy, they can’t sell.
I honestly believe that once merger is complete then it will change, it’s certainly the impression I have got from speaking with the company.
Perhaps because Management has been so quiet, buyers have stayed away. Clearly the numbers are good. I'm counting on the Merger waking investors up. At least NXPL has been generating some volume over the last several weeks.
I would love to buy a few more thousand but it’s the unknown with this joker that holds me back. Why is the market not buying it up at this range? After the merger all it would need to do is move up to $5-6 to be at about even again for me which I don’t think would be very hard, especially if they used the money to buy a cash cow or some type of critical business line viewed highly favorable by the market shortly after then posting actual bottom line profits
Thank you...you're correct.
Make that 70 million in revenue, as per company guidance.
I get it...most of us here are in the same boat.
No doubt it will happen unless some miracle happens legally to get the .48 to about 2.48 or 3.48. All I hope for is that it will make a run to $7-10 at least so can grab my sack of rocks and get out. It depressing to see how what I am down
Wish I knew. Fact is we are getting .48 additional shares for each share of RXMD stock we own. When the Merger occurs the combined companies will be cash rich and generating $60 million dollars in revenues. Perhaps people are waiting to see if the merger will actually close. I don't believe that there is any doubt that it will happen.
Ive had my share of no brainers turn into migrains. Somehow, the "forward looking statements" allow them to screw current public shareholders.
You would think so but for some reason people are not buying them up despite the .48 which gives room for pause as to why
Nice. I added 100 more yesterday @ $1.69. Over the last couple of months I have added approximately 3000 additional shares of RXMD. Each share will automatically generate an additional .48 of a share after 9/13. Seems like a no brainer to me.
I added some more today.
Exactly JS. I have also added several shares of RXMD over the last couple of months.
With a current NXPL conversion price sat at around $1.75, who in their right mind sells shares at just under $1.40.
Clearly some shares will not be converted? Take a look at the proxy.
https://www.sec.gov/Archives/edgar/data/1058307/000143774924024930/nxpl20240802_424b3.htm
On page 8 it shows 25,806,900 shares potentially after the merger
I think from your posts you can agree that both RXMD and NXPL are way undervalued as of today. Been holding along time like many on this board, but have continued to add both RXMD and NXPL at these levels due to them being want undervalued.
After merger I fully expect more communication from NXPL and some insider buying to occur.
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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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