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We are about 20 days from Q results being released which should be great, got to think that shares rise as we get closer to results.
Thanks, this makes perfect sense, part of saving money.
“We have engaged RBSM LLP (“RBSM”) as our independent registered public accounting firm, effective April 19, 2024. The decision to engage RBSM as our independent registered public accounting firm was approved by the Board. RBSM is the independent registered public accounting firm of our parent company NextPlat Corp (“NXPL”).”
When was that
Actually they have been making a profit as can be seen by increased cash in the bank.
And you bash while you buy and then let us all know how much you made when you flip.
And you spend countless hours posting on this board, in a stock you are only here to flip.
I suppose another way of looking at it is;
RXMD shares are 1.48 leveraged against NXPL shares. So slowly buy up RXMD shares and then cause a run on NXPL stock, someone or entity with funds could easily do this.
After recent run on NXPL shares after results, I think there will be a lot more eyes on that stock as we get closer to the middle of May expecting a similar run on what should be great results. Absolutely no doubt in my mind that RXMD shows a decent profit this Q with all the accounting noise gone, and probably the reason management acted now to merge both companies before profitable Q.
Q results less than 1 month away, pretty sure they are going to be record breaking again.
After doing a bit of research, I think I have a better understanding this afternoon of what’s going on;
So NextPlat is going to be like a holding company with currently 3 different revenue streams;
1.E-commerce technology currently selling satcom products – Outfitters is US-based, a market the company didn’t really penetrate since the focus is Europe and global where it sells satcom products and airtime. So reason for Outfitters acquisition to gain US customers and instant revenue stream.
2.They are expanding the e-commerce business to include health and wellness products (such as OPKO and other potential brands via the e-commerce development program with Alibaba) including launching their own brand of vitamins (Florida Sunshine).
3.RXMD is a healthcare services and technology company in-line with the insiders background and let’s not forget Dr Frost has a major investment in NextPlat and we know he is a healthcare titan. Clearly focus is currently on healthcare services which in itself has increased prescription numbers. Also let’s not forget when they release Florida Sunshine RXMD can very much promote this high margin product in store and to its current clients.
So basically once merger is complete RXMD shareholders get access to all revenue streams via our shares being converted to NXPL shares of 1.48 shares for every 1 RXMD share.
Q results will be first and launching of Florida Sunshine brand.
I really don’t think it matters, 2 companies become 1 and running costs get reduced.
Thanks for posting that, quick takeaway from the filing;
1.48 shares of NXPL for every 1 RXMD share
Pretty much all insiders can’t purchase or sell shares until after merger has been completed.
No concern re them, they always show up especially as company has $26 million in combined cash.
Need to get rid of those flippers. Should get filing soon re merger details and should move up as market stabilizes and we get closer to next Q results.
We are a month away from another record Q results, with RXMD showing a decent profit.
https://stockregion.app/p/healthcare-corporation-and-e-commerce
Not sure if this link will work,but not a bad read.
The thing is we don’t lose anything with this merger and I believe the share price as a merged company will reflect the value of the company much better. It’s undervalued and will adjust accordingly.
It’s clear on the OTC that even though the business has been doing real well and much better than it previously was, the share price has not reflected that. The biggest thing is that the company could have promoted itself which it did not, maybe that would have increased share price because improvement in business did not.
You got a great deal there Gedi. My understanding is we should see 8K any day now with more details re ratio.
Well now they are working for all of us.
Stock I don’t think anyone can argue that the business has not improved since Charles took over, clearly though this had no impact on share price appreciation. As a combined company listed on the Nasdaq it is undervalued and I am very hopeful for the future.
Ambulance chaser lawyers, believe me both NXPL and RXMD have this covered.
Of course the share price of both companies can go up or down, big thing we are very much more influenced by what happens with NXPL price, if that goes up we go up.
I bought NXPL today as I believe once the flippers leave price will go up as pretty sure Q results will be stellar again and will be out in around 1 months time.
I also believe that we will get news before next results are out.
What’s important now is what happens going forward. There is significant potential when both companies combine to create a lot of value. Is going to be interesting to see how things progress going forward and I expect a lot more communication going forward.
Also just over 1 month away until next Q results which again will be record breaking for RXMD.
The low has been set and I see multiple PR’s over the coming months. Next Q results will be clean and clear of accounting and will 100% show an RXMD profit.
Very true, next few months will be interesting.
Stock if that was the case why purchase Outfitter.
I agree we should start to see regular communication going forward.
Well nearly right as it looks like 1.5 new shares for every 1 RXMD share.
Yes sure there is, lots more to come now we have this out of the way.
Both companies were pretty much joined anyways, so combining the 2 companies saves money and provides major synergies to push medical supplies and the new sunshine brand through RXMD and China.
Our success is now their success, will be lots more communication from now on.
RXMD is so undervalued it’s ridiculous, the business is doing just fine and I like the growth in the service side which in itself has brought in prescription growth for the pharmacy side.
Mr. Fernandez concluded, "Looking ahead, our plans for Progressive Care remain focused on further supporting its growth in the large 340B and long-term care markets, as well as its ability to continue providing high quality, specialized offerings and services for our pharmacy customers. Our team is confident in the long-term value of Progressive Care and are committed to actively exploring every opportunity to best unlock its potential to the benefit of our patients, providers, and our shareholders."
Ok info for you;
This is what happened.
“At year end, all public companies must do goodwill and intangible asset test to determine if they are reflecting the correct asset valuations
In RXMD’s case, the change of control required another review and valuation.
There are a number of inputs that go into the valuation including stock valuation (a big element here given the stock price decline), discounted cash flows from current and future contracts, value of assets, trademarks, patents, etc.”
My point was if they are at break even, how does cash increase by $900,000 in the Q.
Track, cash is up $900,000 from last Q results, sounds better than breakeven.
There will be a PR today, I must admit I thought it would coincide with the 10k, but I expect probably will be out when NXPL files.
Cash balance as of September 30, 2023 was approximately $7.0 million as compared to approximately $6.7 million as of December 31, 2022.
Cash Balance as of Dec 31st, 2023 is just under $7.9 million.
To me that looks like they made a good profit.
I wish, way above my pay grade. Like I said good service sector growth so hoping to see uptick in profit margins, and more cash in the bank.
Look like a load of accounting jargon to me.
All I am interested in is that Cash balance went up and service side is doing really well.
Looking forward to it being explained in PR at some point today.
The Company performed the required annual impairment analysis of goodwill at December 31, 2023 on its two reporting units and identified the sustained decrease in the Company’s share price as a triggering event that it is more likely than not that the carrying amount of goodwill exceed its fair value. To determine the fair value of these reporting units, the Company uses a discounted cash flow model with market-based support as its valuation technique to measure the fair value for its reporting units. The discounted cash flow model uses five-to-ten-year forecasted cash flows plus a terminal value based on a multiple of earnings or by capitalizing the last period’s cash flows using a perpetual growth rate. The Company’s significant assumptions in the discounted cash flow models include, but are not limited to: the weighted average cost of capital (“WACC”), revenue growth rates, including perpetual revenue growth rates, corporate overhead allocations, and operating margin percentages of the reporting unit's business. The Company considered the current market conditions when determining its assumptions. The total forecasted cash flows were discounted based on a range between 11% to 13.5%, which included assumptions regarding the Company’s WACC. Lastly, the Company reconciled the aggregate fair values of its reporting units to its market capitalization, which included a reasonable control premium based on market conditions. The use of estimates and the development of assumptions results in uncertainties around forecasted cash flows.
A change in any of these estimates and assumptions used in the impairment test, a degradation in the overall markets served by these reporting units, among other factors, could have a negative material impact to the fair value of the reporting units and could result in a future impairment charge. There can be no assurance that the Company’s future goodwill impairment testing will not result in a charge to earnings. This impairment charge could have a negative material impact on the Company’s results of operations.
As a result of the December 31, 2023 annual impairment test, the Company concluded that the carrying amount of the Pharmacy Operations reporting unit goodwill exceeded its fair value by 100% and recorded a non-cash goodwill impairment charge of approximately $13.9 million for the six months ended December 31, 2023 (Successor period). The carrying amount of the TPA reporting unit goodwill did not exceed its fair value, therefore no impairment charge was recorded for the six months ended December 31, 2023 (Successor period). The remaining carry amount of goodwill as of December 31, 2023 was approximately $0.7 million and was allocated to the TPA reporting segment.