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Agreed. I think he looks to unload the shell. He’s had it too long.
I believe that is incorrect. As I stated yesterday.
Looks like he’s gone…. For an hour. Til the other half of his brain tells the selling side he needs to buy..
Must be a mess in there…
Shib for the win.
Well I don’t like that one bit. That means after all this time there was never a set plan. I don’t buy his answer either. The market has always been what it is. What he doesn’t like is the terms being offered to him. Any move up back to reality I need to move on.
Disappointing.
Form 3 - Initial statement of beneficial ownership of securities
Probably. Let’s see what Glenn gets from the ceo.
Cool. Don’t be so easy on him. These rules are being enforced and we need to know if this shell is gonna survive.
He may not give you an exact answer about a merger but he can answer about shell status and the 18 month rule.
Have at it big guy.
Etrade still shows market makers on L2. but according to otcmarkets the company is no longer eligible for solicited quotes. Meaning the 15c2-11 must have kicked in when I wasn't paying attention because we have so much action here. Not sure how Etrade could still have L2 trading.
Amendments to Rule 15c2-11 Regarding Shells: Effective March 28th
The Rule also provides an 18-month transition period for any company that was identified as a shell on the effective date. The 18-month transition period for shell companies to maintain a public market after the implementation of the Amended Rule 15c2-11 is expiring on March 28, 2023. Any company that was a shell on September 28, 2021 will become ineligible for broker-dealer proprietary quotes after March 28, 2023 if it is still a shell on that date.
A list of the shell companies that may no longer be eligible for proprietary public quotes after March 28th is available here. Note that this list is subject to change - if a company ceases to be a shell prior to March 28th, it will remain eligible for public quotations.
Broker-dealers will no longer be able to publish proprietary quotes. The security may, however, be the subject of unsolicited customer quotations. A notification will appear on otcmarkets.com advising investors that only unsolicited quotes are permitted in this stock. Any company that continues to make information available pursuant to Rule 15c2-11 will remain on the Pink Market. Companies that cease to make information available pursuant to the Rule will be moved to the Expert Market. Any company that was a shell on September 28, 2021 and is still a shell will become ineligible for broker-dealer proprietary quotes after March 28, 2023.
Thats true. but forget the loss. if they don't do the debt conversion they throw out 600k net. They seem to be lining everything up. Q3 should be good and Q4 even better.
IMO.
I have no idea? Thats why I asked. He could be adding another company to the fold or keeping it as a holding company with many subsidiaries. When we see them spin off the satellite division we may get more understanding.
Do we know for sure they aren't keeping them as a sub? Is it in an 8k? They just went from affiliate to sub.
Without that charge it would have been a 600k profit on the Q.
Jmck I don’t have pm. Yes agreed on the Q. Gross profit had a major jump. That’s impressive. The net loss should only be a one time charge. So next Q should be even better. Finally heading in the right direction. Expecting price action to recognize this.
IMO.
O/S increased by 20 percent to 6.1mm.
Nice to see a gross profit over 30 percent!
Net Loss
We had a net loss of approximately $4.6 million and $0.9 million for the three months ended June 30, 2023 and 2022, respectively. The increase in net loss is attributable to the debt conversion expense of approximately $5.2 million recorded in the current period.
Progressive Care Inc. Announces Record Second Quarter 2023 Results with Revenues of $11.6 Million and Gross Margins of 31%
Source: GlobeNewswire Inc.
via NewMediaWire -- Progressive Care Inc. (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology provider, today announced financial results for the second quarter ended June 30, 2023. The Company experienced record quarterly revenues of $11.6 million, a 16% growth from the second quarter ended June 30, 2022.
“Over the past few months, our team was focused on ensuring that Progressive Care had a strong financial foundation, one that could support its continued growth while enabling it to capitalize on the largely untapped potential we see in the pharmacy and healthcare markets. I am pleased to report that through our efforts, at the end of the second quarter, not only has the Company continued to grow, but we successfully eliminated the Company’s outstanding convertible debt and increased the cash available to operate the business,” said Charles M. Fernandez, Chairman and CEO of Progressive Care Inc. “Looking ahead, we remain committed to further building upon our improved balance sheet, driving growth, and better positioning the Company to create shareholder value.”
Second Quarter 2023 Financial Highlights:
Total revenues increased by $1.6 million, or 16%, to $11.6 million during the three months ended June 30, 2023, compared to $10.0 million in the prior year period. Total revenues increased by $0.2 million, or 2%, over revenue reported for the first quarter of 2023.
Prescription revenue increased by $0.6 million, or 6%, to $9.9 million during the second quarter of 2023, compared to $9.3 million in the prior year period.
340B contract revenue was $2.1 million during the second quarter of 2023, an increase of $1.4 million, compared to $0.7 million in the prior year period. The increase was attributable to an increase in our existing 340B contracts.
The Company recorded the highest level of income from operations in recent history of $0.6 million during the second quarter of 2023, an increase of $0.8 million when compared to the prior year period.
Gross profit margin increased to 31% from 20% reported in the second quarter of 2022 primarily due to the increase in 340B contract revenue which has higher margins than revenue generated from pharmacy operations.
Cash balance as of June 30, 2023 was $7.4 million as compared to $6.7 million at December 31, 2022. Organizational Highlights and Recent Business Developments:
On May 1, 2023, the Company appointed Dr. Pamela Roberts as Chief Operating Officer. Dr. Roberts formerly served as the Company’s Director of Pharmacy and Pharmacist-in-Charge.
On May 9, 2023, the Company successfully received an investment of $1.0 million from NextPlat Corp. (NASDAQ: NXPL).
On July 1, 2023, NextPlat Corp., along with two other shareholders, exercised common stock purchase warrants and were issued common stock shares by the Company. As a result, NextPlat Corp. and the two shareholders collectively own approximately 53% of the Company’s voting common stock.
On July 17, 2023, Progressive Care appointed Elizabeth Alcaine and Anthony Armas, both accomplished healthcare executives, as Independent Directors to serve on the Company’s Board.
Thats just absurd. From a meme coin too much more. Everything takes time. Since your here to just make a few bucks for a pizza, must have to rationalize in your own mind. Or you are just here because you work in the Boiler room too?
This thing is progressing and for those who can see past the pimples on their nose money will be made.
BOL
Long time for a page to be down just for that info.
Not sure. Says shares were issued per directors agreement. The price may be the given daily price divided by the dollar amount of the award equaling the share award total?
Jervis Hough
Three form fours just filed.
Thanks. Same ole crap…
Q due on Tuesday. Any news will be in there.
You raised it .99? I thought you wanted 6 the other day?
Just goes to show how he’s a dumb flipper. He hasn’t missed the boat. Only he
‘s to stupid to stay afloat even with a life preserver. At this price it’s extremely attractive knowing where it’s headed. No brainer from here on out…
One of the greatest scenes….
Wait what??
In a word….irrational.
When exactly?
We all want this to succeed. But that’s just total nonsense.
You can’t touch that money.
Total lost cause. Can’t even believe when he says he’s back in. I think he just has some kind of defect and is a habitual liar.
Two looks intriguing. I’ll have to dig deeper. Thanks.
Check out ASG and USA.
Been in that one for ages. Wish it was a little lower cause I’m greedy. Even though others would say it already is. Hopefully they increase the divi. At one point it was higher.
Becoming??
Looks like someone took a flyer with a thousand dollars. Must have been winnings from another play. No reason to buy until they update otc with real news.
Even if chasing it won’t matter if the float is correct. Til then I’m gonna just keep watching.
IMO
Make sure you grab the one with the anti shit shield.
Sounds par for the course…. Most of the lazar shells were good for the news up to the merger from DD. After the mergers shit hits the fan. So far we have been stuck and in the same mode til proven otherwise..
share structure makes the shell appetizing for a takeover. Pretty soon thats all I'll be hanging around for.
I have no faith they will keep us whole if they retain the shell and merge. none. Any run on news and I'll be selling. Too secretive and no shareholder contact makes me think they don't give two shits about legacy. and why should they? we are nothing to them.
BOL.
They think because they make the filings they are safe. Not if they are fraudulent.
Eventually they will need to shit or get off the pot.
IMO.