There are two big obstacles affecting this company right now. It is DIR FEES and SEC compliance. Get news on both of these and we are in great shape as a company in whole. We are stealing market share from major chains month over month, and that isn't easy, unless you have a competitive advantage over that competition. Apparently ProgressiveCare has that something.

I didn't sense any concern or worries from Ms.Mars during conference call other than DIR fees which seemed to be a topic she would be willing to discuss with anyone, including legislators at length.

We have not been at that level since January 2018. That's why that cost basis is not possible. Thanks

You said it. Let's let the company take care of business. My expectations are increased volumes and sales as business gets back to normal, Florida ahead of many states in that respect.

Really, the price dropped all day before the conference call even occurred, CC had nothing to do with anything. If it was on Monday, the day traders would have still sold on Friday. Lol. That's their way.

I assume you mean many years ago.

I only had to state it once and everyone else agreed. Hmm, what's that mean.

Lol, funny

Why would they have to reverse split. Management doesn't even mention it,other than to say they have no intention too or plans to because of these posts.

What's wrong with being in a stock 4 years?

There will be a separate call with Stuart from Smallcapvoice on questions and further information not on conference call.

I don't think that is what the event is about. It is about the whole Covid thing and their plans for community, back to work plans, testing, etc.

You don't understand the longs here. The longs here are invested long term, retirement account style even. No long is parting with shares for 8-9 cents. Lol. Day traders are only ones gone.

$RXMD $9 Million 1st Qtr Revs 100% increase

MIAMI, FL, May 18, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ? Progressive Care Inc. (RXMD) (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is pleased to report financial results for the quarter ended March 31, 2020, which featured very strong revenue growth, especially considering the unique operating conditions during February and March due to the SARS-CoV-2 global pandemic health crisis. During the associated earnings call, management outlined specific competitive advantages and new initiatives positioning the Company for strong growth across all major metrics throughout 2020.

S. Parikh Mars, CEO of Progressive Care, commented, “The novel coronavirus has dramatically changed the landscape in countless ways, and many businesses are suffering from a pervasive lack of predictability and a torrent of new and unique existential challenges. Yet, despite it all, Progressive Care continues to see dramatic overall growth driven by strong execution, flexibility, and efficient positioning. We remain better positioned than most of our competitors to respond effectively to these extraordinary and unusual challenges, and to take full advantage of the many exciting opportunities for growth that lie ahead.”

First Quarter 2020 Highlights

Consolidated quarterly year-over-year growth in Net Sales of 75% to surpass $9 Million for Q1 2020Prescriptions filled surpasses 134,000 in Q1 2020, up 59% versus Q1 2019March 2020 set new Company record for monthly prescriptions filled340B Agency Revenue jumped 76% (vs Q1 2019) to nearly 200,000Net Loss of $795 K almost entirely attributable to PBM fees, with Q1 impact exaggerated due to seasonality of performance reimbursements

During the earnings call, Mars discussed dynamics important to interpreting the Company’s Q1 data and outlined a series of additional initiatives and projects currently underway that will further improve the Company’s financial performance and competitive positioning in 2020.

As discussed on the call, the root cause of the Company’s consolidated Net Loss for the quarter centered on a combination of major increases in fees charged by PBMs in 2020 and the seasonal timing offer accrual versus performance incentive reimbursements. This was further accentuated by the fact that many insurance carriers switched to PBMs that charge high fees to pharmacies in an attempt to keep the cost of prescription benefits low. These changes have resulted in a high concentration of the Company’s claims being processed by a single PBM, which has, itself, increased its fees nearly 3-fold in 2020. As of 2020, only one PBM offers the ability to receive refunds of fees through performance.

Fees charged by PBMs are not transparent at the time of adjudication, but the Company’s robust analytics gave it a reason to believe an accrual of high fees was necessary even though they have yet to be taken from remittances. The Company recorded approximately $643,000 in fees for the quarter.

The costs associated with producing audited financial data for 2019 were included in Q1 data, representing an additional non-recurring item boosting the apparent Net Loss for the quarter.

Looking ahead, the Company is extremely excited about dramatic gains already being seen in Q2 in terms of growth in new patients. Progressive Care has already added over 1,000 new patients in Q2, which may represent as many as 5,000 additional prescriptions filled per month during the current quarter.

In addition, the Company has recently launched a full e-commerce segment as well as its new COVID-19 IgG/IgM rapid result antibody and diagnostic testing program. Both are now up and running on a nationwide scale.

Key Q2 Initiatives and Projects

Build out of 400 Ansin. Consolidation of operations is underway in 2020 and is expected to yield approximately$300,000 in savings in 2021.E-commerce. Progressive Care is currently expanding the range of products available on its e-commerce platform, as well as upgrading platform functionality. Despite a nominal advertising budget, e-commerce has steadily increased in volume since the platform was launched in April 2020.COVID-19 Antibody Testing. Testing is underway at the PharmCo Miami location. The Company secured a supply of tests manufactured by a company that has filed for EUA registration with the FDA. Tests are currently being offered through: 1) health care providers, 2) a testing service for employers, 3) through retail to individual consumers. Tests must be performed by a health care professional. The Company anticipates rapid growth in this program as the lockdown phase gradually winds down.RXMD Therapeutics. The Company has adopted an acquisition strategy for RXMD Therapeutics for compliance and risk mitigation purposes. The Company has already issued a proposal to an existing brand of cannabidiol products.SEC Registration. The S-1 filing and the uplisting process is now the most important priority for the Corporate team. The Company is updating its prospectus information in the draft of the S-1. The timeline continues to be 2020 with the S-1 filing to be in the coming weeks.

Mars continued, “Progressive Care has demonstrated that it is uniquely well prepared for the challenges presented by the current context, and we continue to drive strong growth with very encouraging trends already in place in Q2. Through our services, patients and healthcare providers can get the support they need no matter the restrictions placed on their lives. We pride ourselves on our ability to deliver best-in-class care for our patients under any conditions.”

MIAMI, FL, May 18, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ? Progressive Care Inc. (RXMD) (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is pleased to report financial results for the quarter ended March 31, 2020, which featured very strong revenue growth, especially considering the unique operating conditions during February and March due to the SARS-CoV-2 global pandemic health crisis. During the associated earnings call, management outlined specific competitive advantages and new initiatives positioning the Company for strong growth across all major metrics throughout 2020.
S. Parikh Mars, CEO of Progressive Care, commented, “The novel coronavirus has dramatically changed the landscape in countless ways, and many businesses are suffering from a pervasive lack of predictability and a torrent of new and unique existential challenges. Yet, despite it all, Progressive Care continues to see dramatic overall growth driven by strong execution, flexibility, and efficient positioning. We remain better positioned than most of our competitors to respond effectively to these extraordinary and unusual challenges, and to take full advantage of the many exciting opportunities for growth that lie ahead.”
First Quarter 2020 Highlights

Consolidated quarterly year-over-year growth in Net Sales of 75% to surpass $9 Million for Q1 2020

Prescriptions filled surpasses 134,000 in Q1 2020, up 59% versus Q1 2019

March 2020 set new Company record for monthly prescriptions filled

340B Agency Revenue jumped 76% (vs Q1 2019) to nearly 200,000

Net Loss of $795 K almost entirely attributable to PBM fees, with Q1 impact exaggerated due to seasonality of performance reimbursements

During the earnings call, Mars discussed dynamics important to interpreting the Company’s Q1 data and outlined a series of additional initiatives and projects currently underway that will further improve the Company’s financial performance and competitive positioning in 2020.
As discussed on the call, the root cause of the Company’s consolidated Net Loss for the quarter centered on a combination of major increases in fees charged by PBMs in 2020 and the seasonal timing offer accrual versus performance incentive reimbursements. This was further accentuated by the fact that many insurance carriers switched to PBMs that charge high fees to pharmacies in an attempt to keep the cost of prescription benefits low. These changes have resulted in a high concentration of the Company’s claims being processed by a single PBM, which has, itself, increased its fees nearly 3-fold in 2020. As of 2020, only one PBM offers the ability to receive refunds of fees through performance.
Fees charged by PBMs are not transparent at the time of adjudication, but the Company’s robust analytics gave it a reason to believe an accrual of high fees was necessary even though they have yet to be taken from remittances. The Company recorded approximately $643,000 in fees for the quarter.
The costs associated with producing audited financial data for 2019 were included in Q1 data, representing an additional non-recurring item boosting the apparent Net Loss for the quarter.
Looking ahead, the Company is extremely excited about dramatic gains already being seen in Q2 in terms of growth in new patients. Progressive Care has already added over 1,000 new patients in Q2, which may represent as many as 5,000 additional prescriptions filled per month during the current quarter.
In addition, the Company has recently launched a full e-commerce segment as well as its new COVID-19 IgG/IgM rapid result antibody and diagnostic testing program. Both are now up and running on a nationwide scale.
Key Q2 Initiatives and Projects

Build out of 400 Ansin. Consolidation of operations is underway in 2020 and is expected to yield approximately$300,000 in savings in 2021.

E-commerce. Progressive Care is currently expanding the range of products available on its e-commerce platform, as well as upgrading platform functionality. Despite a nominal advertising budget, e-commerce has steadily increased in volume since the platform was launched in April 2020.

COVID-19 Antibody Testing. Testing is underway at the PharmCo Miami location. The Company secured a supply of tests manufactured by a company that has filed for EUA registration with the FDA. Tests are currently being offered through: 1) health care providers, 2) a testing service for employers, 3) through retail to individual consumers. Tests must be performed by a health care professional. The Company anticipates rapid growth in this program as the lockdown phase gradually winds down.

RXMD Therapeutics. The Company has adopted an acquisition strategy for RXMD Therapeutics for compliance and risk mitigation purposes. The Company has already issued a proposal to an existing brand of cannabidiol products.

SEC Registration. The S-1 filing and the uplisting process is now the most important priority for the Corporate team. The Company is updating its prospectus information in the draft of the S-1. The timeline continues to be 2020 with the S-1 filing to be in the coming weeks.

Mars continued, “Progressive Care has demonstrated that it is uniquely well prepared for the challenges presented by the current context, and we continue to drive strong growth with very encouraging trends already in place in Q2. Through our services, patients and healthcare providers can get the support they need no matter the restrictions placed on their lives. We pride ourselves on our ability to deliver best-in-class care for our patients under any conditions.”

I deducted the 10 million from my total, when determining. $47.5/$443 million.

This is not correct garrox. The poster was accurate about float. Total OS is 453 million less 10 million. Officially 443 million.

As I stated earlier, they likely will get $400k of those $637K DIR fees from 1st qtr back at end of year. DIR fees total will be like $2.5 million possibly, unless legislation kicks in, and payback of those fees for meeting performance measures might be $1.6 million.

We added two new locations and about 50-55 staff, SG&A is going to increase, and like you said the numbers are in line with where we were before. Only thing not in line is the DIR fees increase, which PharmcoRx has no control over. Legislation is going to fix that. It's all over Washington and CMS as we speak. Just look up "DIR FEE RELIEF" INMAR Intelligence DIR FY19 report is another good source.

The OS on 12/31/2015 was actually 352 million. Only a 91 million increase from where we are today, and 43.5 million of those went to management and are restricted shares. That leaves 47.5 million that have been administered for acquisitions over the last 4.5 years. That's 11% of the total shares outstanding. How do you like them apples??

He also stated the RSI would be reset at $.06.

Haven't seen any BOD fees, they gave 500k shares years ago. Haven't seen anything since. I will do it for free, I have plenty of shares.

I will post the charts when I can. Last year was 19% 1st Qtr, and will be happy to post every quarters coming down the pipe for FY2020

Not available yet, but Seeking Alpha will publish. I will post entire transcript here when they do.

I think we got all power behind us now. The bulls are still in charge here.

That's EXACTLY what I heard too. Shhhhhsshhh. We both need more shares at these cheap prices.

To be honest, I didn't see where they booked an accrual last year for second quarter either. On call she mentioned she would for 2nd quarter, so maybe that is a change for the better.

Yes, but we going to have those every quarter, and did previous year as well, this quarter was ridiculous, $637k I think. Last year total DIR fee I think was $1 million. We have to overcome that, as well as book accruals each quarter for expected refund, which may be more than I stated a bit ago, because we got $648k back, which is closer to 65% of total. So refunded fees back on that would be roughly $414k for the quarter.

This would allow everyone to see results more clearly. Not booking the accrual but fully booking fees really messes with the gross profit % in 1st and 3rd quarters particularly.

I didn't get to listen real-time, so just listened to replay. I felt way better after hearing what she had to say. I definitely wanted a little better transparency on profitability leading up to call. Those DIR fees are tricky though. I work in pharmacy and you literally have no clue what they are going to bill you for, just discussed those this week even. Hence much needed legislation.

SEC S1 completed in next 2 weeks. NASDAQ by end of year.

One other thing, the DIR fees are booked in this quarter, but there is no accrual for those they expect to get refunded. Last year that total was $648k on 32 million revenue. This year I would expect it to be $800-900k, so subtract $200-225k from that loss.

I believe she said they would book accrual in 2nd quarter once they have a better idea of performance. They need to come up with a quarterly accrual, since they have been consistently meeting those measures annually.

I am with you on that. I never expected a clear profit with the debt still on the books, but something closer to even. DIR fees seem to have been the item that broke the donkey's back. Their is legislation, government and Medicare, that is working to provide DIR fee relief. On a positive, while it has hurt us in April and Early may. It sounds like COVID has allowed us to acquire a large number of patients that we will see impact June and 3rd quarter to end of year particularly. This will have to be seen in those monthly numbers leading up to those quarter ends. Like 55k scripts $4 million plus a month revenues. From her discussion that's where we are headed.

Did you hear that, they are looking at adding additional BODs. Pick me! Pick me! LOL

I don't believe so, just 1 inpatient seller that cut and run. Instead of waiting for SEC S-1 filing news, etc.

Well I kind of disagree with both of you. That $40 million in revenues is pretty much set in stone, and the $32.6 million from FY2019 is actual. Last half of the year we had two back to back over $10 million revenue quarters subsequent to the acquisition. $40 million is lowballing revenues for the year, that's assuming no increases in additional services or additional acquisitions. We have added I believe 3 340B deals, a Ready StEP deal, and you have seen all the recent news regarding online portal, that doesn't include CBD either. These last 2 items are all cash based with good margins, the other 2 I believe are both fee based arrangements per script filled. But yes Actual is good to know, but projections are just as important.

The convertible note has been included and discussed at length in every conference call, including the intent to pay it off and secure traditional financing in it's place. Right now RXMD is siting on $2.4 million in cash, $800k at 12/31/19, $600K received in April for Performance paybacks; and $1 Million from the Cares Act. You won't see the two later amounts in the 3/31/20 F/S, but they will disclose them.

Let's just assume that 1.45 million shares yesterday was for the convertible note. That was 3.2% of all shares traded yesterday, and they are limited to 10% of trading volume and can't even hold more than 4.99% of common stock outstanding at any point in time. They have to request new tranches when they are out. Point I am making is they are of no significance at this time when volume is high. We flew to $.27 last time while they were converting shares used for another previous aquisition.

Yep, stop losses are worst thing you can do on OTC, all the MMs are looking to do is execute a trade. Stop losses are easy money.

Even the Progressive Facebook Group membership has risen like 33%, that's investors that really like what they see here, not traders.

Conference CALL INFORMATION

Progressive Care Announces First Quarter 2020 Quarterly Report Earnings Call and Business Update on May 15th, 2020

4:30 PM ET on Friday, May 15th, 2020.

To access the call:
Dial-In Number: 1-857-232-0157 Access Code: 422095


May 11 2020 - 08:18AM
InvestorsHub NewsWire Print
MIAMI, FL -- May 11, 2020 -- InvestorsHub NewsWire -- Progressive Care Inc. (RXMD), a personalized healthcare services and technology company, is pleased to announce that the Company has scheduled an investor conference call at 4:30 PM ET on Friday, May 15th, 2020.

Progressive Care Inc.:RXMD Automated Pharmacy Dispensing Robot

“COVID-19 has dramatically changed the economic landscape of all industries and few have been able to adapt and lead in the manner we have,” stated S. Parikh Mars, CEO. “We are looking forward to discussing the financial performance of the Company as well as all of the initiatives currently underway.”

In addition, interested parties may submit questions concerning the Company prior to the call to Stuart Smith at SmallCapVoice.Com, Inc. via email: ssmith@smallcapvoice.com by 5:00 PM EST on Wednesday, May 13th, 2020. Mr. Smith will compile a list of questions and submit them to the Company prior to the conference call. Which questions will be addressed will be based on the relevance to the shareholder base, and the question’s appropriateness in light of public disclosure rules.



For those unable to participate in the live conference call, a replay will be available at https://www.smallcapvoice.com/tag/rxmd/ shortly after the call has concluded. An archived version of the webcast will also be available https://progressivecareus.com/progressive-care-inc-investors-section/.

Connect and stay in touch with us on social media:

Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS

PharmCo Rx
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx

Five Star RX
https://www.fivestarrx.com/ https://www.facebook.com/fivestarrx/

Don't worry, it will bust through soon enough. Investors just feeling things out this morning. There are so many eyes ready to jump in at sign of this going North quick again today.

Very good point, hadn't thought about that.

Let's ride this wave up now. RXMD is a gem on the OTCQB

This is the real deal. Can't stop what the company is doing, none of us can, they have a great plan and have been executing it over the course of the last several years. It's happening in 2020.
$RXMD $40+ MILLION REVS, SEC FILING SOON, PROFITS, THE NEXT RITE-AID
REAL COMPANY - OTCQB – Penny Stock Exempt, 3 YEARS AUDITED FINANCIALS, Will be over 40+ MILLION NET ANNUAL REVS for 2020 – HUGE LONGTERM INVESTMENT POTENTIAL. Will be double in Revenues, scripts, and assets in FY 2020 from FY 2018 when it ran to $.27.
OH MY, HOW RXMD HAS GROWN UP OVER THE YEARS


What's happening for RXMD?

10 things specifically come to mind, and they keep generating more "Game Changers" by the week.

1. $SEC S-1 filing to occur in the month of May 2020 (See 2 below)


2. RXMD Doubles March Sales, Successfully Utilizing Its Market Leading Contactless RX Delivery Due to Covid-19 Pandemic