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Increased margins by 2% and lower administrative costs we could see a nice bump in PPS even if they filled exactly the same amount.
There are multiple ways to skin a cat.
IMO
I think I will put in an order for a million tomorrow @ .0014
I think we will churn in this area for a while as well.
A decent stock to flip IMO.
Agreed, you earned your first follower haha!
I agree, however it is telling if they do not respond in something that is documented. Often in my work we say, "if it's not documented it never happened".
Respectfully, that to me is an excuse. I work in a busy medical clinic that is one of the largest in the region. They can make time or hire an IR firm. They should be able to give responses that are written.
Hire an executive secretary out of the 500k a year salary they are (over) compensating the Rph with.
It's not rocket science. (Not digging at you- if that is an excuse they are making to the investor it's bull)
I'm curious why they do not respond in writing. That is always suspect to me.
Thank you John for sending that off. I appreciate your efforts and now you have earned a follower!
Good luck to you amigo. Just remember you can't take the money to the grave with you.
Also, I don't care when it's person to person communication but when you are a company and submitting legal documents that could be used in the court of law, I do care.
Remember the way you present to the world is likely the way you do business. In this case it would be half baked and without much worry.
As always I hope I am wrong. I mean I did buy in at 4 cents per share so that is a 50% depreciation of value.
Not at all- my grammar sucks- but I am not submitting legal documents for work.
Sorry buddy but it was not something to "give up" on. I am offering the avenues for other folks to get educated as to why it's important.
Block me if you have an issue with it.
Since we always are concerned about why appropriate grammar is important in any legal documentation..... Here are some links so you the buyer can do your own DD to see why you should be extra critical of the documents they submit.
https://www.law.georgetown.edu/academics/academic-programs/legal-writing-scholarship/writing-center/upload/grammar.pdf
https://www.bloomberg.com/view/articles/2015-11-03/supreme-court-sits-as-the-grammar-police
https://www.grammarly.com/blog/how-grammar-influences-legal-interpretations/
https://www.sec.gov/pdf/handbook.pdf
https://www.archives.gov/federal-register/write/legal-docs/clear-writing.html
http://www.raymondjames.com/sullivanassociates/pdfs/winter_2017.pdf
http://lawecommons.luc.edu/cgi/viewcontent.cgi?article=1112&context=luclj
http://paralegaltoday.com/issue_archive/columns/LglWrtng_ma07.htm
You can make your own decision on why it's important. GLTA no matter what your opinion is on this.
Personally, I do not think they can trade on there because of this alone:
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Each company must have a minimum of 1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. In addition, the regular bid price at time of listing must be $4, and there must be at least three market makers for the stock. However, a company may qualify under a closing price alternative of $3 or $2 if the company meets varying reequirements. Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360. Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
Those statements had to have been pumps because reviewing the requirements they must be smoking something or have some amazing cards up their sleeves(I doubt).
Please keep us updated with what you find. We appreciate all the DD everyone brings here.
You gained a follower.
I agree with you 100%
I am not bashing the stock. I just want to be clear though that I work in the medical field and understand more intimately how things operate so I am going to be critical about things that are executed poorly. I want to see RXMD succeed and invested a much larger portion of money after the audited financials came out.
If they do 2 more things such as:
Retire Shares
Move to uplist
I will be happy.
Look at the webmaster too. No copyright or updated to 2017. These folks are in the stone age when it comes to business.
There is no evidence of that. Also, prescriptions are filled based on what the insurance covers etc. Not a pharmacist changing locations. To me, that is ludicrous especially since the main driver of RXMD's income has been from their compounding business which is traditionally contractual work.
I guess even with what you have stated I disagree 100% since I have an intimate understand of operations of a pharmacy. I linked in a prior post some reading for you.
If you can show me the where to find the information on the pharmacists and the stated business they brought over please link it. I could not find anything but I may have been lazy.
Hope you are having a good weekend.
I agree 100% Hopefully we will see a positive week next week. The big markets were mixed and many sectors waffled.
Let's hope for it just to get back to 3 cents where it was trading sideways for a time.
I agree with your premise. This stock IMO is likely not one that has the structure to be successful however I enjoy being proved wrong because that means I am able to learn something from the experience.
Good luck, it's going to be interesting to see where this stock goes in the next 3 months. It's down 70% since I put eyes on it which is usually telling to me.
Penny Land is a strange place definitely.
If they are not dependent on us why then go public? Think about that for a moment.
Interesting, I had no idea he had 51% control of the voting stock. I must have missed that and I agree Ms. Mars is the only beacon of light when surrounded by such a unscrupulous group.
However, I am still concerned about her affiliation with outside agencies such as Monarch.
Time will tell. I give it 6 or so months before I divest.
Sorry your response is a bit unclear. Armen should be watched because of the undue influence he can exert and impact the business.
That is what my statement pertained to if you needed clarity and it's nice to see you back around.
Got it, thanks for the clarity. Working in the medical field makes some of these issues feel like a thorn in my side. There is not a single pharmacist I can think of that deserves that type of income even if they bring "something" over. Nobel Prize Winners get 1 million dollars for years and years of research. So the fact the person made 1.3+ million in two years for a single retail pharmacy is ludicrous.
Anyways, here is just some informational stuff for my fellow investors:
https://wp.vcu.edu/nvcarroll/2015/07/13/how-do-retail-pharmacies-make-money/
http://www.asapnet.org/files/January2014/Presentations/ASAPJan14_Presentations10_Dietz1.pdf
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5066920/
http://www.thehonestapothecary.com/2014/03/14/6-tips-to-being-a-profitable-retail-pharmacy/
Hope everyone is having a good week and have an even better weekend!
Wang, Armin plays an important role in the company and wife is a pharmacist there who may be the recipient of those large sums of money. Like I have stated previously it's not like a physicians or other independent clinical practitioner bringing over patients. Insurances really dictate where patients get their medications.
I think during the next CC we all should address these questions and hope they can provide shareholders with the appropriate documentation since they did just get audited. It should not be too hard on them.
It's good to be critical of our company, only way to improve is to look at what areas need it.
Who is going to be on the next CC?
Thank you for the reply and the information, appreciated.
You are correct
We do not know the reason he left or was asked to leave.
Could be a personality issue or greener pastures.
We will know in two quarters what route this pinky is going to move and until then it's all speculation.
I would not be surprised if within the next two weeks we see something break the sp up or down.
GLTA
Hi 6pack! I always appreciate your perspective on things so I just want to clarify a few things you said:
-The company isn’t truthfully reporting the total value of the company’s vehicles. They bought 3 new vehicles in 2016 but yet the value recently reported is lower than the previous year’s reporting.
Could this be attributed to depreciation? Usually that is accounted for when reporting so I feel this may be the case here.
-The company fabricates data seen by the public in order to try and entice new investors. That is apparent when just recently the number of shareholders on record was 1,633 and now it’s a measly 188. Did that many shareholders sell completely in that short period of time?
Wouldnt that be a matter of public record? I ask so we can further explore the reason for this. Maybe it's how it's reported etc.
-The company is not SEC reporting and is using the Alternative method which is notoriously used by many OTC scam stocks.
Do you mind educating more on this. This is news to me.
That is an interesting thought. I am curious if they will get CIAB moving first before they try to put anything else in the pipeline. I think it's important that this company shows it can deliver for both the patients and investors.
I am offering the question like a GNU agreement. I am not sure if I can be on the call but wouldn't mind it being ask. I wonder when the next CC will be, any idea?
I guess I have some learning to do since I have not dabbled in those yet. I appreciate everyone's take on the market thank you for sharing.
It would be nice to see the contract, how much business that Rph brought over, patient retention of that % brought over, when does it expire, and measurable quantifiable information on the justification of paying that person so much. I mean if they can prove the Rph worth I am all for it.
It's likely a poor business decision especially with the price they are paying for the Rph. I work with some amazing pharmacist and it's unheard of that a retail/compounding pharmacist would be paid that much. Also, that rational the person gave you is crap. Pharmacies operate more off of insurance contracts than bringing a client follow over. They are not physicians practicing in a practice. Imagine if they had spent that for 5 FTE rather than 1 FTE pharmacist. They would get more work, scripts filled, and patient pharmacist time if that expense was gone. That would in turn improve all quality measures.
To be honest I am not sure. I think we do not have enough information to fully understand if this is nuanced with that type of details or if it's a case of overcompensation.
I wish the audited financials had more details in that regard but at least we are aware of where some waste could be occurring.
The good news is you can voice your concerns as a shareholder directly to him.
Also, the conference call will allow for more hardball questions to be asked.
Thank you RIO, I would appreciate that since I keep missing the calls.
Likewise, from what I understand Armens wife is a Rph there too. Hopefully it's not her and another Rph that was recruited w/ accounts.
Do you think the company would divulge that information? If they only had paid the Rph 250k that would still leave headroom of 550k which is over 27,500,000 shares that could be retired in 15' and less in 16'.
I'm trying not to be to critical until more facts are unearthed.
I should have looked to see if someone else posted, thank you Marshall. I am confused why they would pay 8x's the rate of a normal pharmacist. It's not like they are heavy in the research.
I will have to go back and dig it up. It's on page 49:
http://www.otcmarkets.com/financialReportViewer?symbol=RXMD&id=168586
"The Company has an employment agreement (the “Agreement”) with a certain pharmacist that is related to the preferred stock controlling shareholder and employee of the Company. The Agreement is a verbal agreement cancelable by either party without notice. This pharmacist receives compensation for filling certain prescriptions as further defined in the Agreement. During the years ended December 31, 2016 and 2015, the Company paid this pharmacist approximately $565,000 and $843,000, respectively."
Maybe I am missing something else. Do you have any ideas?
"Average Pharmacist Yearly Salary in Florida. Pharmacists earn a median salary of $118,460 per year. Salaries typically start from $87,290 and go up to $149,440. Learn more about the Pharmacist job market for salaries of real jobs in your area."
It's fishy to me- and yes I am a bag holder.
https://www.bls.gov/oes/current/oes291051.htm
The logic with the pinks- is there is no logic. Ride the wave and get off when you can.
Adopting the technology is always expensive. I have first hand knowledge of this type of transition but there is also a lot of bonuses to it. A large cost savings aspect of it comes from administrative costs in addition to possible mistakes.
It will be interesting to see- they still need to pay that one pharmacist less (the one that was paid 800k a year) and do a retirement of shares.
I am slightly less critical of this company due to the audit.