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NEW TWEET OUT:
Wow there is a wealth of information in this post!!!!!
ONCI
This should be sticky
Good too see things are coming together as planned
Nice post
NICE NEWS TODAY
MIAMI, Sept. 18, 2018 (GLOBE NEWSWIRE) --
Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced further growth year-over-year in both revenue and number of prescriptions filled for August 2018. In August, the company reported a total of $1.93 million in net revenue, a 3% increase from the same month last year, and a 44% increase in prescriptions filled during the same month last year, totaling just over 29,000 filled prescriptions.
Progressive Care’s wholly-owned subsidiary PharmCo, LLC saw a record month for prescriptions filled in August, reporting a 30% increase in prescriptions filled over the same month last year, totaling more than 26,200 prescriptions.
The company’s newest PharmCo Rx 1002 facility reported just over 2,700 prescriptions filled during the month of August and approximately $116,000 in revenue. Since completing the acquisition of the Touchpoint pharmacy last month, Progressive Care has increased the involvement of its own management at the new location to ensure it will continue to have a significant contribution on the company’s ongoing expansion plans for the remainder of 2018 and well into the following year.
“We are proud to announce another month of significant growth for Progressive Care. The strong sales and prescription numbers reported for August serve as a testament to the increased value we continue to deliver to not only our shareholders, but also to our growing network of patients, physicians, and providers,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc.
Mars continued: “As we head into the end of 2018, Progressive Care will keep taking the necessary steps to execute its growth and expansion plans. In addition to aggressively increasing our management team’s involvement at the new pharmacy location to ensure it will have a greater impact on prescriptions filled and reported revenue in future months, the company will also continue to build out its healthcare technology offering through the development of our own proprietary Tele-Pharmco software and ongoing updates to the new PharmCo website.”
The release of the company’s August 2018 sales figures follows the recent launch of PharmCo’s newly redesigned website, which aims to provide patients with a better understanding of the company’s products and services, as well as offer an online resource platform for healthcare stakeholders to better understand Progressive Care’s model and how it delivers leading performance and results.
Earlier this month, Progressive Care announced that its Chief Executive Officer would be speaking on the “Global vs. Local” panel at the first FlyPharma conference in the United States, which took place September 11-12th in Miami, Florida. The company also announced media coverage it has received in top trade publications for its efforts to battle the opioid epidemic and its strong expertise in healthcare technology.
For more information about Progressive Care, please visit the company’s website.
Connect and stay in touch with us on social media:
Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
About Progressive Care Inc.
Progressive Care Inc. (OTCQB: RXMD), through its PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long term care facilities, and health practice risk management.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target,” “intend” and “expect” and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
Investor Relations Contact:
Armen Karapetyan, Progressive Care
Senior Advisor Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com
Public Relations Contact:
Tory Patterson, CMW Media
Tory@cmwmedia.com
www.cmwmedia.com
Web and Application Development Contact:
Marcello Jaspan, Mass Ventures Corp
Marcello@massventurescorp.com
www.massventurescorp.com
ONCI nice post looking forward to the uptrend Q3 numbers were great and more catalyst to come!!
ONCI
Back above .10 soon
RXMD
Adding cheapies!!!!!!!!!!!!!!!
PGUS
More catalyst coming gonna be a monster!!
Increased revenues multiple pennies coming quick
MJ and private label time to move up
PRIVATE LABEL, CANNABIS, INCREASE IN REVENUE lid about to blow off
That would be my best thought as well cant wait to see who its with...
Great post gonna heat up quick here
Great Post.........Huge Asset Increase........$800,000 payment to Cogsense.......Over 6.5 million dollars in Revenue and Account Receivable.............
During the first 9 months between October 2017 and July 2018, company asset almost doubled increasing from 3.8 million dollars to 6.5 million dollars, with a huge account receivable totaling 3.67 million dollars. ONCI asset in Cogosense is now at $800,000, representing a 30.1%. Q4 will have almost the full potential of AN and C Max, with a potential revenue of 1.5 million and account receivable collection of 1 million that could go toward Cogosense.
No Matter how it is Twisted and Turned, there is no place to go but UP from this price level. Everybody knows now that the float was only increased by 90 million and the great majority of selling is done by investors during Q3. There is no room for selling anymore by short term traders and day traders.
BUY WITH VERY HIGH CONFIDENCE $$$$$$$$$$$$$$$$$
I agree looking forward to the continued growth here..
Big news to continue through the pipeline!!!
HEXAGON 6TH LEG
As of today, the 6th leg of hexagon is complete we have started a new platform for merchandise to freely trade. We have purchased a variety of domain names and we are waiting to get financing in place. As soon as that happens we will announce via a PR all details. I am sure this will be a GRAND SLAM.
I will discuss the dental and the beta testing and the OBD development in the next update as we are moving everything along
PRIVATE LABEL
As of today at 3:30pm we have received a verbal agreement for our first private label deal. We have been working on this deal for the last 4 months and after many meetings we got the verbal today. As soon as we have the docs signed I will announce the company as it is a very big company and a huge deal for us. I was hoping to get signatures today but it is not possible.
We are also working on two more big private label deals one in Europe and the other in Turkey. We have made every change they have asked us to make and we are pushing forward everyday. I am hoping to get answers ASAP.
CANNABIS
I am pleased to announce that we have signed a letter of intent to purchase 75% of a craft Cannabis company called Sifthouse BC . Sifthouse is a craft Cannabis company and a new business based in Vancouver. If you think of craft cannabis like a craft beer company, they will grow highly profitable and specialty blends in the way craft beer, such as montaulk IPA, does. This business is about to explode and we are in on the ground floor. It is my expectation that big tobacco and spirits companies will be in control of this business going forward and the expectations and potential profits will be amazing. Terms of financing are being worked out and will be announced in the next update but we will be sending Sifthouse a payment of $100,000 within the next few weeks. As new markets and countries open we will be able to franchise our company to every city that makes cannabis legal over the next few years and I believe craft growers will be the biggest part of the cannabis boom.
I am also pleased to announce that we have made a distribution deal with a company that provides logistics and software to almost every municipality in the USA and in Europe.
They want to create the first distracted driving network for government fleets of Cars and Trucks. As soon as our NDA expires and it will be soon I will announce the name of the company.
Headed much higher here
"In 2015, there were 205 million cars insured in the US..." (probably a higher number now, 3 years later?)
Okay, so let's start by limiting this to U.S. sales only, even though the Company already has a lot of activity in several other countries.
Let's say that, next year or the year after, ONCI sells enough units to outfit 1/10th of 1% of the vehicles insured in the U.S. That's a very small part of the market, right?
Based on the 2015 number of 205 million cars, that would give us (205M / 100) / 10 = 205,000 units.
At 205,000 units and $200 per unit, that comes to $41,000,000 in sales (revenue).
At $112 profit (earnings) per unit, that comes to 205,000 x 112 = $22,960,000 in EARNINGS.
So, in a given year, ONCI sells enough units to outfit 1/10th... of 1%... of the insured vehicles in the U.S. (and we know there are just a few more vehicles in OTHER countries that we might be selling for, right?). It sure feels conservative to me. And that yields $23 million in earnings. Yes, that's EARNINGS, bottom line dollars.
Once that has been accomplished, we can use the Trailing PE number - as is most frequently used for valuations - and that gives us a valuation of $22,960,000 x 272.22 = $6,250,171,200. That's $6.25 with a B behind it - $6.25 billion. Seems outrageously high, doesn't it? Well, that's why software/app businesses do so well in the stock market. With the O/S reduced by 1.4B, we'll have something like 3.1B O/S. A $6.25B valuation with 3.1B O/S gives $6.25B / 3.1B = $2.02 pps.
Okay, so that's at least another year before we could claim that valuation, right?
But what if we want to look at a projection of future sales/earnings, saying that over the next year ONCI will sell 205,000 units? Okay, so we use the Forward PE, which gives us a valuation of $22,960,000 x 43.19 = $991,642,400. At 3.1B O/S, we get $991,642,400 / 3.1B = $0.32 pps.
If we go with just what we have today, before seeing the revenue from the past quarter that is going to show in the quarterly report in 2-3 weeks, and before we see the sales that are just beginning with AutoNation and CarMax, and before CNA pushes our product to the NUCA membership, and before we see the first large fleet deal, and before we see a private label deal that seems to be in the works... Then let's go with what we have TODAY, from the past 4 quarters operating margin, which is $1,894,968.
So... using the Trailing PE number, which is most commonly used, TODAY we have a valuation of $1,894,968 x 272.22 = $515,848,189.
And... at 3.1B O/S, this gives us $515,848,189 / 3.1B = $0.17 pps.
I went with Operating Margin for the "earnings" number because the only difference between the Operating Margin and Profit in this case is the costs for the 3(a)10 debt restructuring, which is a one-time charge for extinguishing old debt from old management that was not part of this business/product financial model.
But remember what we started with - we considered sales ONLY in the U.S., and we said the quantity sold is for 1/10th of 1% of the insured vehicles in the U.S. When, in fact, we have much activity going on outside of the U.S. and, within the U.S. we are developing a huge network of vehicle dealerships, working with large-fleet companies across the country, working on OEM deals, private-label deals and insurance company deals. So it's very possible that the 1/10th of 1% - or 205,000 vehicles - will look like a real lowball annual sales number in the very near future.
PGUS BLOG UPDATE
The Company has received several questions from its shareholders about corporate operations and projects. Below, we offer these questions with Company responses.
This Company Blog post might contain information, which may constitute ‘forward-looking statements’ within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. ‘Forward-looking statements’ are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.
Any forward-looking information provided in this post should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained below.
The following questions from shareholders are paraphrased.
INVESTOR QUESTION:
What is the status of the bridge financing?
Reply from ProGreen:
As communicated in Form-8K disclosures filed this week, we terminated our commitment with GCP Fund (GCP), and we engaged CMN Funding (CMN) for a similar bridge loan, only slightly larger.
Of the potential lenders with which we discussed the bridge financing transaction in May, we selected GCP partly due to the firm’s purported abilities as an experienced, international hard money lender and its representation that it would to be able to close the deal in reasonably short time – as per the original commitment to close prior to July 15. With the passing of the original closing deadline, we (grudgingly) elected to allow more time for GCP to follow through toward closing the loan deal. Separately, we began looking more carefully at our alternatives.
We became increasingly concerned about further delays with each passing week and, at the end, we did not believe in the viability of this lender funding. We decided that it was in the Company’s best interest to terminate the agreement so that we could pursue an alternative funding arrangement. We requested a current LOI and term sheet from CMN with revisions that we had negotiated over the past month, and then issued the termination letter to GCP.
INVESTOR QUESTION:
What can you tell us about the status of the notes and conversions?
Reply from ProGreen:
As of the date of this filing, there have been partial conversions of the Auctus and Tangiers notes, with the first Power Up note converted in its entirety, and two-thirds of the second Power Up note converted. We have a verbal extension of the BlueHawk note, and there have been no conversions to date.
We are continuously weighing any options we may have for taking out convertible notes against our near-term needs for operating cash, as we have begun to see significant cash flow from deliveries to Huy Fong.
As previously stated, we are working with the companies that have provided us financing in order to avoid or minimize note conversions until we have secured the bridge loan, at which time, as the first priority, we plan to pay off the balance of any notes with partial conversions, if possible, as well as all other notes that are due. While we can provide no assurances, we are in regular communication with these companies as we continue in this effort.
We’ve updated the share structure on the Investors page of the website. Approximately 50M shares have been issued per the note conversions discussed here, accounting for all shares issued since the May 29, 2018 update of the web page. There were 464.37M and 413.94M shares of common stock issued and outstanding as of September 5, 2018 and May 29,2018 respectively.
INVESTOR QUESTION:
Why did we buy the new 2,500 acres land recently, rather than at a later time?
Reply from ProGreen:
We have been on the sideline ready to buy this land for the past year, as it is ideal for expansion of the farming operation. There has been a recent development where a vote of the ejido owners finally succeeded, paving the way to obtain title to the land. The owner of this parcel needed some quick money, and we saw this as a very good opportunity to purchase the land at a very good price. The alternative was to lose the land to others that are now offering 5 times what we paid, for nearby land parcels that are, in fact, not very good at all for farming.
Just a short walk from the existing Arenoso farm, this land provides an incredible opportunity to expand for large-scale production, with over 1,000 acres expected to be farmable. But we also see this land supporting sustainable living within Cielo Mar and the local region, through farm and ranch operations for cattle, dairy, poultry, pork, and a variety of fresh produce for local consumption.
INVESTOR QUESTION:
How is the farm doing this year? Are we on target for meeting expectations?
Reply from ProGreen:
There are approximately 100 acres being farmed this year, some of which have been planted more dense than before. The plants are healthy and producing very good peppers. All is going as expected, if not better, and we have now delivered 22 truckloads to Huy Fong, which is approximately 420 tons of red jalapeno peppers.
INVESTOR QUESTION:
A July press release stated that the Phase I Execution Plan for Cielo Mar was going to be presented to authorities. Did that ever happen? What is the current status?
Reply from ProGreen:
Yes, the Cielo Mar Phase I Execution Plan was presented to the authorities, and we are still on track for being able to break ground this year.
The presentation of the plan to the authorities was a major milestone for the Cielo Mar development. When approved, the land will be changed from “rustic” to “development” land, and work on the infrastructure can begin within weeks.
The Company has received several questions from its shareholders about corporate operations and projects. Below, we offer these questions with Company responses.
This Company Blog post might contain information, which may constitute ‘forward-looking statements’ within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. ‘Forward-looking statements’ are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.
Any forward-looking information provided in this post should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained below.
The following questions from shareholders are paraphrased.
INVESTOR QUESTION:
What is the status of the bridge financing?
Reply from ProGreen:
As communicated in Form-8K disclosures filed this week, we terminated our commitment with GCP Fund (GCP), and we engaged CMN Funding (CMN) for a similar bridge loan, only slightly larger.
Of the potential lenders with which we discussed the bridge financing transaction in May, we selected GCP partly due to the firm’s purported abilities as an experienced, international hard money lender and its representation that it would to be able to close the deal in reasonably short time – as per the original commitment to close prior to July 15. With the passing of the original closing deadline, we (grudgingly) elected to allow more time for GCP to follow through toward closing the loan deal. Separately, we began looking more carefully at our alternatives.
We became increasingly concerned about further delays with each passing week and, at the end, we did not believe in the viability of this lender funding. We decided that it was in the Company’s best interest to terminate the agreement so that we could pursue an alternative funding arrangement. We requested a current LOI and term sheet from CMN with revisions that we had negotiated over the past month, and then issued the termination letter to GCP.
INVESTOR QUESTION:
What can you tell us about the status of the notes and conversions?
Reply from ProGreen:
As of the date of this filing, there have been partial conversions of the Auctus and Tangiers notes, with the first Power Up note converted in its entirety, and two-thirds of the second Power Up note converted. We have a verbal extension of the BlueHawk note, and there have been no conversions to date.
We are continuously weighing any options we may have for taking out convertible notes against our near-term needs for operating cash, as we have begun to see significant cash flow from deliveries to Huy Fong.
As previously stated, we are working with the companies that have provided us financing in order to avoid or minimize note conversions until we have secured the bridge loan, at which time, as the first priority, we plan to pay off the balance of any notes with partial conversions, if possible, as well as all other notes that are due. While we can provide no assurances, we are in regular communication with these companies as we continue in this effort.
We’ve updated the share structure on the Investors page of the website. Approximately 50M shares have been issued per the note conversions discussed here, accounting for all shares issued since the May 29, 2018 update of the web page. There were 464.37M and 413.94M shares of common stock issued and outstanding as of September 5, 2018 and May 29,2018 respectively.
INVESTOR QUESTION:
Why did we buy the new 2,500 acres land recently, rather than at a later time?
Reply from ProGreen:
We have been on the sideline ready to buy this land for the past year, as it is ideal for expansion of the farming operation. There has been a recent development where a vote of the ejido owners finally succeeded, paving the way to obtain title to the land. The owner of this parcel needed some quick money, and we saw this as a very good opportunity to purchase the land at a very good price. The alternative was to lose the land to others that are now offering 5 times what we paid, for nearby land parcels that are, in fact, not very good at all for farming.
Just a short walk from the existing Arenoso farm, this land provides an incredible opportunity to expand for large-scale production, with over 1,000 acres expected to be farmable. But we also see this land supporting sustainable living within Cielo Mar and the local region, through farm and ranch operations for cattle, dairy, poultry, pork, and a variety of fresh produce for local consumption.
INVESTOR QUESTION:
How is the farm doing this year? Are we on target for meeting expectations?
Reply from ProGreen:
There are approximately 100 acres being farmed this year, some of which have been planted more dense than before. The plants are healthy and producing very good peppers. All is going as expected, if not better, and we have now delivered 22 truckloads to Huy Fong, which is approximately 420 tons of red jalapeno peppers.
INVESTOR QUESTION:
A July press release stated that the Phase I Execution Plan for Cielo Mar was going to be presented to authorities. Did that ever happen? What is the current status?
Reply from ProGreen:
Yes, the Cielo Mar Phase I Execution Plan was presented to the authorities, and we are still on track for being able to break ground this year.
The presentation of the plan to the authorities was a major milestone for the Cielo Mar development. When approved, the land will be changed from “rustic” to “development” land, and work on the infrastructure can begin within weeks.
New Tweet
A business update has been posted on the Company Blog at https://www.progreenus.com/business-update-9/
Seems they did reply to him it was just late Friday so here we are
Look like they have the other lender on the line ready to help
Very easy to read the whole sentence...
On August 28, 2018 we notified the Lender that we have terminated the financing commitment, effective August 31, 2018, due to the Lender’s acknowledged inability to fulfill its obligations to provide the Loan consistent with the terms of the commitment.
From the 8k
CNA 9 plus billion in sales 12 Billion market cap Glad to be a part of this huge movement to stop distracted driving.
ONCI
Great post Moving up
ONCI