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Haha, bold and clear! The 5th line of text, anyway. EPGL $$$$
Well, Mod - are you going to stickie this? Post #93336 or #93323
Alright, who's going to stickie this news before they start tonight's festivities?!?
Yes, great news for all! Way to hang in there, Viking!!
Happy New Year!
You're right, stockforce. Here's a link:
Pharmacy Team Image
May not be long, though, before other pharmacies in the south and up the east coast can be showing PharmCo photos like the branded vans on their websites!!
I agree, that is evident... and there's so much more, right?
One thing the chart doesn't tell you directly is that the price ratcheted to where it is now only because of normal gains profit-taking but combined with low holiday volume and end-of-year. Just another step on the way up.
Another thing the chart doesn't tell you is that those catalysts of which you speak... several are here, now, and continuously increasing as we'll see again next week.
Hmmm... Something's up with RXMD stock (SomethinGood)!
Clearly, something has been brewing. It has nothing to do with this chart, but the chart does seem to give some clues. And it looks like the price is going to be moving one way or the other. Hmmm... I wonder which way it will go?
Where's Waldo? If you can find Waldo, maybe you'll see another clue about how to get the answer.
Good luck! And Happy New Year!
I thought about it, but I can see from your other posts that you are changing sentiment here again. Looks like you may have pushed this one down a little too far, so I think I'll wait a while 'til it really bottoms out - if it looks like it'll recover any time soon.
Looks like this is starting on the way back down ClayTrader's stairs. But it was good while it lasted.
Lot of pumping going on here for the selloff, it looks like. Time to get back in when the pumping stops.
It looks like the pump is over and it's heading to no bid. But I sure hope you're right, would be nice to salvage some investment here.
Not so, IMO. Actually looking strong!
After past few days, buyers slowly lining up higher and building bid pressure, but waiting to slap to be sure no more weak holders are going to dump to bid for their year-end cash.
Holding strong, especially for the first hour when many newbies impatiently buy or sell.
How much more clearly must it be heard (or seen in type-written posts) that one or two momo players are hoping they can create a P&D frenzy with RXMD stock... and apparently they are extremely frustrated that they cannot convince RXMD shareholders and/or management to PUMP the stock.
I am quite comfortable with the company and stock performance, as apparently most other RXMD shareholders are.
Fair to say with confidence that there has been NO pumping going on in the past, not currently, and I don't see it happening in the future. Anyone looking for a P&D play? This isn't it.
Great to see the Attorney Letter filed! Don't forget to take a screenshot of the yield sign so you don't forget what it looks like
It's been a bit of a drag to see it there, especially when management has been so consistent with the filings, communication and follow-through on goals and performance in general. Well... soon to be a thing of the past!
No debt, no dilution, solid revenue and sustained growth over several years now... further growth and expansion plans defined, developing further, and updates from management coming next week. Here's to looking toward a great new year for all!!
Wow, interesting to note that this is unlike most of the recent news from management.
Much of the recent news over the past few months has been expected, and simply a solid confirmation of what we already knew.
Other than the confirmation of no debt, no dilution, all other information is NEW news!!
- PR to add iHub distribution
- Looking for acquisitions - actively
- Attorney Letter sent for removing yield sign
- Private financing ready/waiting for acquisitions
And it's really good to have this confirmation that we'll be seeing a Shareholder's Letter next week!
Great work, INSTA - Thank you!!
I'm glad to see that many/most (all?) of the RXMD long shareholders on this board seem to be observing the same thing that I am - and I guess maybe we should be happy to take the bad with the good.
With the all of the positive developments going on here with Progressive Care, we see the RXMD pps beginning to correct upward toward it's true value. Along with this comes the momo traders who want to pump the company/ticker as they climb aboard (when they're "in") each time we start a new leg up and then talk dirty about the company/ticker (when they're "out") when it reaches the higher highs and higher lows.
But I take heart in knowing that for every bunch of temporary momo players added, there's a (presumably smaller) bunch of real investors who aren't allergic to DD and therefore not afraid to hold a stock for more than a day or week. As more higher-quality investors take up the stock, we'll see less and less re-tracing from short-term small-gains profit-taking, and the pps will continue upwards more smoothly toward the true value for RXMD.
The next leg up is starting right here. Pent-up demand from good news and latest developments has been dampened by short-term profit-taking and and year-end selling. After 2 weeks of trading sideways in this .018-.023 channel on low volume over holidays, RXMD will resume it's upward correction very soon from here.
Absolutely - simple as that.
We all know that it's a bad idea to use money that you need or want fluid for "playing" stocks. But you probably know from reading various messages on these OTC boards that many folks use their "investment" (trading) accounts like checking/ATM accounts.
Easily explains today - someone had it in their mind that they were going to "cash in" some or all of their RXMD shares for the holidays, to pay tuition, or for tax reasons. News didn't come out yesterday, and when new didn't come this morning... cash out time, whack the bid, get on with the day. Some folks don't value the 10 or 20% difference it could make to put on the ask - or maybe they absolutely had to have the money today for the 3-day hold and to get in the bank by Friday.... and just wanted it done!
Whoop - there goes another one as I was typing this. Whatever - doesn't mean anything at all.
Nothing to watch here, I'm done for the day. Just took a quick look on the board between some other work while waiting for car oil/service to be done. Good day, all. RXMD
This is a lesson for any short-termers who want to flip after a day or a week for small gains. It's a free world, do as you like... but it's much easier and consistent for making money if you don't whack the bid. Set a sell limit just above the ask before action starts, and sell into the action. Don't keep changing you mind or wait until the last minute - you whack the bid, you're guaranteed a lower price than the market; you drop the ask with a block so that you can sell before the next guy, and you change the momentum and frequently will end up chasing the price downhill.
It's funny that this trader did what he did, he was about the only impatient one that wanted to sell - so that he could move on to chase a fast mover on the day. That trade will be just the latest in a long list of trades that he will complain about... "it's not his trading strategy or tactics, it's the ticker." It's easy to see from the trading action yesterday that there was a strong possibility that, had he not dumped on the bid, the price would have inched up a little through the morning, and that very likely would have precipitated a small afternoon rally upward that he could have sold into for 20% higher gain. This is my opinion based on the past week's volume and price action, and many other things considered.
Funny that so often the impatient ones who can't wait even a few hours to put sell limits just above the ask to sell into gains do exactly as this trader did (after he chastised others for doing it)... and lose money fast, so they can rush to another ticker to spin the wheel for a day once again.
Haha, you are so right. I rarely reply to this garbage or engage with these types, but occasionally I get the urge to set the record straight. Usually when I haven't posted in a while and I've found a little bit of time to catch up and do my maintenance DD. I'm very busy now with little time, so I'll be defaulting back to the normal ignore mode for the BS, and just keep alert for news and significant developments.
Great post, stockforce! Thank you for putting all of this together. It's so interesting to see the evolution of a success story - especially from the ground level going up. Progressive Care is exiting the start-up mode and moving into the growth mode. Am I the first one to say this? I guess maybe it is arguable, since revenue has been growing at a very good pace already. So maybe we've been in growth mode for a while, but eliminating the financial drag from the debt liability will unleash the real growth potential, IMO.
After this year Progressive Care is well-postured for a multitude of possibilities for growth, and I am really looking forward to seeing the future developments now going forward. I like that the balance sheet is clean, the company performance with regard to marketing and sales generation has been solid, and to be real simple - the company name (Progessive Care), the brand name (PharmCo) and the ticker name (RXMD) just feel right. Right for the market! Progressive Care has a good slice of a very unique, high demand, niche market with many great opportunities for market expansion and business growth.
Simple summary for those new to RXMD
Progressive Care revenue is growing quarter over quarter, year over year, and current annual revenue is ~$15M.
With O/S of ~350M and pps of $0.0215 as of 12/28, current market capitalization is approximately $7.5M.
ANNUAL REVENUE = $15M
MARKET CAP = $7.5M
A/S = 500M
O/S = 350M
DEBT = $0
TOXIC DEBT = $0
DILUTION = 0 shares
SIMPLE SHARE STRUCTURE
CLEAN/SIMPLE BALANCE SHEET
HIGH DEMAND, HIGH GROWTH MARKET SEGMENT
REGULAR COMMUNICATION FROM MANAGEMENT
RESPONSIVE COMPANY INVESTOR RELATIONS
Yes, it is pretty clear to most that RXMD is undervalued. Nothing hidden here, it's all in disclosures directly from the company, signed, sealed and delivered by CEO/CFO and COO:
Quarterly Report - CONSOLIDATED FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 2015
Dec 10, 2015 Progressive Care Inc. Completes 3(a)(10) Transaction
Dec 14, 2015 Progressive Care Reaches Record $1.3 Million in Pharmacy Revenues in November
Synopsis of shareholder/board sentiment:
1. Occasionally for the past several months and since the RXMD was trading in the 0.005's - usually on a red day while the stock is trading sideways after several days of green - 2 posters with apparently "negative sentiment" randomly make special appearances to remind board readers that the stock is still not at 0.10.
2. Daily - a few of the regular posters on the board with apparently "positive sentiment" post messages to remind board readers that the stock is still not at 0.10.
3. One recent new poster with apparently "positive sentiment" is unhappy with the stock performance and price trend, and thinks the pps should correct upward toward true value more rapidly.
4. At least one long shareholder with apparently "positive sentiment" openly agrees with the new poster that the RXMD pps should correct upward more rapidly.
5. AT least ALL current shareholders would be very happy if the price shot up to 0.01+ overnight, if it would stabilize there for further gains over the long haul. With the current pps of 0.0215, that is only a 465%+ gain, but still better than an index fund.
6. Most posters on the board - whether they prefer to look only at the chart or whether they look much deeper into the company fundamentals - seem very happy with the company and general trends shown in the chart below, and are looking forward to a Happy New Year... happy that they bought in before the excursion upward to 0.10+.
7. Long-term... most on this board do not see the stock hitting $1 within 2016, though some believe it is easily possible. Obviously, this is highly speculative of the company and management's aggressiveness and would likely require some M&A activity. Many see 0.50 possible, while most seem to believe that 0.2-0.3+ is clearly doable, organically, with what is known of current and past goals and strategy made by Progressive Care management.
And you know all of this, have confidence in all of this that you say, because... you have been so wildly successful in your investment "strategy" and chart-reading prowess this year?
Didn't you describe in gory detail how poorly your other OTC investments did for you this year that you were about to give it up for good?
My gosh, if I had such bad year of it as you described in such horrid detail all over this board in previous posts, I'd be rethinking my assumptions and perhaps EVEN considering suggestions from anonymous posters on a message board who DO seem to be making money.
No debt. Here is what you're seeing. You mean the Q3 report, right? The interest expense is the general accounting and amortization for the debt that was being paid off - which is now paid off.
If you're looking at the Consolidated Statement of Income, look at the bottom line "Total other income (expense) - net" numbers. You can see them decreasing through the quarterlies.
I strongly disagree. Cash should be reinvested. Someone posting on this board is all over the map. One minute they are talking about how longs need to do this or that to prove that they're long. The next minute they're talking about how urgent it is to hit a chart spec by driving the price to some level TODAY. And then some other minute they're talking about how the company MUST buy back stock... so that, what, the price is driven up in a day?
A lot of mixed signals from this poster. I'm not sure they know if they are holding long or investing or playing a ticker chart... or what?
Progressive Care is clearly in growth mode and they've worked hard all year to show their mettle. Over the past several years, the company has shown that they can build a viable business and that there is significant growth potential. Now is the time to reinvest funds in growth - not some shareholder's desire to see a short-term pop in the pps by decreasing the O/S. How ridiculous that is to true investors or business-builders. Yes, I agree, if you want to play a chart and see the pps go up... the quickest way to do that is to take shares off the market, decrease the supply. It's also the fastest way to deplete funds that should be used to grow the business and increase value for shareholders. That is shareHOLDERS, not shareSELLERS.
RXMD - the company, Progressive Care - is performing very well. RXMD - the stock - is performing very well. There is very little selling going on, over a holiday slow period, in fact. The very low trade volume, including any "sells," shows - IN FACT - that long shareholders are holding long.
There has been no change at all in the investment strategy or sentiment from long shareholders who've been contributing to this board over the past entire year - and the trade volume supports this 100%. The only thing that has changed is that there is one poster who is "contributing" to the daily traffic and believes that he needs to convince all RXMD shareholders of how to make money on this stock by paying attention to his directives.
My personal opinion is that this poster would be much better off and actually make money on his "investments" if he simply listened a bit more to other contributors to this board.
I think you mean stock buyback... there is no debt to buy back. I mean NO debt (other than that $25K note that the company is keeping on the books in case the possibly-deceased note holder that they cannot locate comes to the surface some day).
Investment Quality Stock - Positive Stockholders' Equity
Many traders on the OTC like to look at ticker charts for the day-to-day excitement of fast moves. Unfortunately, it is all too common for these traders to chase one ticker after another in hopes of hitting the jackpot on a short swing trade or daily/weekly flips, and most are unsuccessful over the long haul.
I like to look at charts of the fundementals behind business performance for serious investment opportunities. This is how you find "diamonds in the rough," as they say, and actually profit from investment value - rather than play the over-speculative lottery game with fast movers that go down just as fast as they go up. What other way can anyone feel confident enough in a stock to ACTUALLY STAY LONG enough to capitalize on the full strength of a 50x gain over several months, and then double again over the next year?!? As everyone knows, Buffet didn't get where he is by cashing in on his investments after 10% or 100% or even 1000% gains on his investments.
Many long shareholders in RXMD stock took risk early on because they knew from their DD that Progressive Care had high success potential, and was greatly undervalued if indeed they were serious about the strategic plan outlined in the letter to shareholders in December, 2014. Clearing the balance sheet was an important part of this plan. No one could know how many other investors would see this value and whether the stock price would hold at any given time. These same long shareholders have gained more and more confidence and accumulated more and more ownership over the past year as Progressive Care diligiently plowed away at the goals and strategic plan established a year ago.
I am very fortunate to have found this great investment opportunity recently (September), while the stock is still greatly undervalued. Simple observation of the following chart makes it plain to see why I feel this is the perfect time to own and accumulate more ownership of Progressive Care stock. My earlier "Composite Balance Sheet" post (post #25149) shows a spreadsheet with a "flat" Q4 cash position - no growth over Q3 - simply to show the effect of 0 debt on the balance sheet.
I've updated the Composite Balance Sheet spreadsheet to show a projection of the Stockholders' Equity with a somewhat conservative estimate of cash on hand at the end of Q4. It makes little difference if the ACTUAL cash position is very close, the idea is to underline the form of the chart. The significance is that 1) the Retained Earnings (Cumulative Deficit) is flat and turning upward, and 2) Stockholders' Deficit is crossing to positive.
The Cumulative Deficit of a startup company shows how much money it is requiring to invest before it becomes viable. When a company is generating revenue, increasing revenue, has no resistance to growth in the form of debt liability, and is showing a bottom for the Cumulative Deficit... it is showing that it is not only viable, but solidly poised for profit and growth.
This is what investing is all about - finding a company with a balance sheet like this with excellent prospects for growth. And the immediate bonus is that it is greatly undervalued. New investors can be thankful that RXMD is currently trading on the OTC platform, that there is a yield sign, and that it has only recently cleared the debt from the balance sheet... and that a small number of shareholders are still selling a low volume for profit on their recent gains. Trading volume in the .02 to .03 range is very low. As it dries up completely RXMD will resume its upward price correction. I expect the price to be moving more rapidly toward 0.10+ before financial reports give the actual numbers that will show the form of the chart (below).
True investors will surely (IMHO) take note of the signal from this chart on the fundementals of Progressive Care as a developing growth business! Those who want to own a piece of a growth business that can deliver 40-50x gain over a relatively short time period will invest appropriately to achieve that end. It is obvious that management is keenly aware of this and, in fact, expecting it: 1) 2015 goals - focus on YOY and QOQ revenue growth and enterprise profitability while clearing debt from the balance sheet, 2) road show to showcase Progressive Care for new investors, 3) efficiency improvements and expansion plan to optimize growth opportunities. I have no doubt that true investors are really beginning to take notice.
Good post, several good points!
That "signal" missed the run-up/see my recent post.
I included the snapshots from that "signal" source (AmBulls) before and after it missed the a big chunk of the recent run, including the apology/explanation for missing the big price jump. That auto-analysis algorithm interprets "signals" from a few recent candles and attempts to predict the next day's price action.
That website/app is like a casino... except probably worse, for many reasons. But to each his own.
If you ask my opinion, I will give it. I posted that chart - just the facts - so others new to RXMD can make their own assessment without too much DD effort - and then they can choose to do more DD to whatever extent they normally do.
I think most would agree with what you said - should be trading comfortably and steadily at .046 at a minimum without knowing any more about the company than 0 debt, stable sales, etc.
However, I personally agree with most longs who've posted on this board that there is much more value due to Q over Q and Y over Y growth, expansion plans, the market Progressive Care is in (high demand, high growth market), and more.
I don't think so. I've got 4 accounts on TD Ameritrade. When I buy or sell, it's a crapshoot as to which MM takes it - CDEL, ATDF, NITE, ETRF, CSTI... I've seen no consistent pattern.
My guess is that we're seeing the same buying game with the ask block from CDEL attempting to push sells to the bid sitter at 1.2M through NITE. No reason to believe it's not the same trader blocking through CDEL to get his bid filled through NITE. Remember that it just happened that the bid-ask combo was NITE on both sides last week when this was going on.
RXMD greatly undervalued - MarketCap Plot
With 0 debt and clean balance sheet, 20% revenue growth year over year, profits and growing cash position, growth plan for 2x to 3x prescription throughput and market expansion...
RXMD is very attractive, and it's easy to see why some are doing everything they can to establish or build their position now.
Fortunate longs have known this for quite some time and most are not going to give up any shares to settle for initial gains when there is such a long way to go until the pps reflects true value. Some swing traders will - but it appears that they are thinning out.
__________________________________________
2013 Revenue (net sales): $9.33M
2014 Revenue (net sales): $11.27M
2015 Revenue (net sales): $13.5M (estimated, based on Sept 30 YTD net sales $9.97M and monthly status updates)
Current annualized revenue based on $1.3M Nov2015 net sales = $15.6M
Chart shows recent start of RXMD value correction (Market Cap = O/S shares x pps) toward true value as debt payoff was being completed. Currently consolidating as some are jockeying to establish positions while some recent/transient shareholders are taking their profits. Setting up for next leg up.
Best way to stop this manipulation is to see some bids up against the ask. Buyers should break up their buys, half on the bid up against the ask, and slap with the other half.
Do this, and there's not much MMs or shorts can do.
Starting to look like it's time to get out of this one before it drops any more. Promises, promises. Not looking very good.
I couldn't agree more that this week looks to be interesting with some "bumpy" trading going on.
There seems to be ever-increasing interest. RXMD on iHub shows several ticks up on board followers over the past several days, and it's spent the last entire week and this weekend near the top of most-read boards list.
And for good reason. Sometimes I look at the most-read board for new opportunities, and RXMD is the clear standout as the best and most solid opportunity of all the stocks/boards on that list. The DD data is solid, all indicators and sentiment from various sources point to "buy" for short-term and long-term (therefore, "buy and hold"), the chart looks fantastic... and various DD material is easily accessible on the board with all stickied posts recent and full of pertinent information, with the oldest of those posted within the past month.
This week, I expect that RXMD will see plenty of jockeying in the first hour of daily trading by share grabbers to make a starting position. Some ask-blocking in combination with bid-sitting, maybe even combined with some sell scares to grab those shares. Some mid-morning and mid-afternoon ask slapping to grab before next basing. And of course some flipping whenever there's a large bid-ask spread, since a percentage of this will surely come with the new attention.
This should all combine well with expected news to send the price to new levels with expected news!
Know what you own - hang onto your shares, because it's not likely that one or two or three moves on news over the next few weeks will bring the pps to true value of 0.10+ as seen by most longs including myself who've done solid and continuing DD.
Why clear debt from the balance sheet?
Why did Progressive Care (RXMD) management make it a goal for 2015 to clear the debt off the balance sheet while maximizing revenue growth and attaining full enterprise profitability?
Maybe for the same reason any for-profit business wants to first become viable, and second to grow - to maximize profit for shareholders (... enterprise value -> return on investment -> market cap -> pps).
Whatever the reason, management made clear goals to accomplish these milestones and communicated these goals openly to shareholders in December, 2014. And they delivered.
What does Progressive Care management have in store for 2016?
Management has recently discussed growth plans, including expansion of market presence and addition of a robotic dispensing system that will allow for 2x to 3x prescription throughput (that would result in similar multiples of revenue) while reducing labor cost (and therefore increasing margins and thus profit).
The one goal for this year that management was not able to deliver on is the goal to "Merge, acquire or otherwise align ourselves with a synergistic independent pharmacy to create economies of scale". Management structured a bona fide joint venture with Caremed Pharmacy as outline in the the January 9, 2015 press release, but the deal never came to fruition. (BTW the status of that deal is included in each financial report this year; in short, it seems that Caremed "fell down.")
Whatever Progress Care (RXMD) has in store for shareholders for 2016, it is clear that with the past year of growth combined with the clear balance sheet, the company is well-postured for any of the following:
• Merger
• Joint Venture
• Reverse Merger
• Acquisition
• Buy Out
I won't speculate on the probability or the potential magnitude of value for these options. I think that's up to the individual investor. But I do expect that management has some ideas in mind. What does seem clear and requires no real speculation is that, not only has Progressive Care grown over the past year, and not only does Progressive Care have a plan for substantial growth/expansion for increasing value organically, but there are clear and very good possibilities for discontinuous (non-linear) growth through M&A or similar developments going forward.
I think management may communicate a re-invigorated goal to "merge, acquire or otherwise align" in a future letter to shareholders, but I do not expect that any specifics will be given if a deal is in progress, or if the plan involves something like posturing for a buyout. Such deals involve legalities such as a quiet period or similar, or are strategic and confidential in nature.
___________________________________________________________________
Related DD
Progressive Care management has established solid credibility and a very positive track record with shareholders.
From the most recent PR from the COO (Dec 10, 2015):
Composite Balance Sheet - DD
The recent PR from Progressive Care management confirms debt-free status. The following is from my recent post of a composite balance sheet, and may be helpful to new prospective investors in performing their initial DD. All balance sheet numbers come from filed RXMD quarterly and annual financial reports.
Progressive Care revenue is growing quarter over quarter, year over year, and current annual revenue is ~$15M.
With O/S of ~350M and pps of $0.0227, current market capitalization is approximately $7.9M.
ANNUAL REVENUE = $15M
MARKET CAP = $7.9M
A/S = 500M
O/S = 350M
DEBT = $0
TOXIC DEBT = $0
DILUTION = 0 shares
SIMPLE SHARE STRUCTURE
CLEAN/SIMPLE BALANCE SHEET
HIGH DEMAND, HIGH GROWTH MARKET SEGMENT
REGULAR COMMUNICATION FROM MANAGEMENT
RESPONSIVE COMPANY INVESTOR RELATIONS
UPCOMING NEWS: November Revenue/Performance, 8K for close of 3(a)(10) debt payoff transaction, probably other updates regarding growth/expansion plan status and status of new revenue streams, and more (see stickied posts)
___________________________________________________________________
From my December 6 post:
Other than the long list of positive operational developments that Progressive Care has been working on this year - (incl. revenue & prescription growth Qtr over Qtr, Yr over Yr) easy to see in the stickied posts, so I won't repeat here again - this year has been about cleaning up the balance sheet.
Toward the end of 2014, RXMD management started what I refer to as a debt-to-equity reverse capitalization of the business. Until that time, RXMD took on a fair amount of debt to establish a viable Specialty Pharmacy operation with substantial sales and strong baseline for growth. Management presented a plan to shareholders that included several aggressive goals for 2015, including payment of all debt that was consolidated in a 3(a)(10) transaction agreement. Tarpon Bay is facilitating this transaction by selling company shares to raise the funds for paying down the debt to clear the balance sheet. Upon completion of the 3(a)(10) transaction, RXMD will be essentially debt-free. A balance sheet does not get any cleaner than this.
You can see from old posts on this board and from the long-term accum/distr trend that there is a long list of investors who strongly support this move from management, and have been supporting it through all of 2015. Additionally, there have been several spikes in the pps where market capitalization began to correct toward true value. RXMD stock is substantially under-valued, and long shareholders posting on this board believe the current true value to be well above 0.05. But as long as there have been "cheap shares" available as part of 3(a)(10) debt payment transaction - the debt-to-equity reverse capitalization, as I call it - the pps would retrace. This is now at its end, and you can see this in the chart as the share price is racheting up. As soon as the debt paydown is complete, there will be no more selling into the bid by the Tarpon MM (BKRT has been known to be the one most recently, but also some signs of VNDM), and stock price will correct rapidly. Add management's growth plans and new developments already in progress, and you will see why RXMD longs believe the coming price correction is only the beginning of a continuous and long growth cycle for RXMD.
As I noted, the balance sheet is clean! The share structure is also very clean and simple. No preferred shares to be converted and sold, no insiders selling a single share. Management communicates with shareholders and updates with press releases frequently, and company IR is very responsive to investor inquiries.
I added a column in the spreadsheet below for Q4 ending 12/31/2015. This is an approximation of the balance sheet if profit/loss is $0 for the quarter, and just shows what would be a new starting point of ~$400K (positive) Stockholders' Equity. So this is with the company simply maintaining a cash balance of ~$300K. I am not looking for profit at this stage of the business, and I think management is not, either. (Dec 12 clarification: I am not looking to take my profits at this stage... and I don't think management is looking at maximizing net profit to disburse dividends - rather, reinvesting profits for growth) At this time, it is all about growth. There is much demand and much opportunity in this market, so I am looking for cash to be employed, and I also expect improved financing through investment or other shareholder-favorable vehicles for business and market expansion. Annualized revenue is currently $15M and I look for that to double by this time next year as Progressive Care management executes the growth plan.
All my opinion and analysis from my own due diligence efforts. Do your own DD, make your own investment decisions, and trade at your own risk.
Know what you own...
As I mentioned in a previous post, RXMD is basing and (IMHO) will move north significantly over several sessions, same as it did several times over previous weeks. This is based on fundemental value unleashed with ~$2M in debt payment and now a clear balance sheet - not exactly what thrills momentum traders who look for the pps to shoot 100's of % in 1 day.
That the momentum was snuffed yesterday - after 100%+ gain over the prior 4 days, and after 475%+ gain over 7 weeks - is not a bad thing in my mind. Longs looking for .10+ pps within a short time from now are not looking for the price to shoot up to .08 in a day just for flippers and momentum and day traders to have a hey day... and retrace 50%.
Now that 1-day momo potential from the debt-free announcement is behind us, those who look at fundementals and high growth potential due to greatly undervalued stock prices will start making moves. To do this takes time for DD. As RXMD bases and begins moving up through the 2's today, all may be surprised with how fast the price correction resumes. With various additional positive news PR's coming and also the very attractive chart and impending TA golden cross, many will be wanting to get a solid position in RXMD stock as soon as they can get comfortable with their DD.
All good for RXMD longs, IMHO!!
Good post, Insta! So true and the price correction toward proper valuation will resume quicker than most would think. All good, unmatchable fundamental value that is yet to be realized even close in the current pps range.
CORRECTIONS ON MIDAM VENTURES AGREEMENT
I don't see it exactly the way you see it. I think yesterday's trading action is explained very simply with OTC stocks dynamics, as I suggested in my previous 2 posts:
my post 24948
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=119081559
my post 24944
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=119081336
Very simple, let's not make a mountain out of a molehill.
MIDAM was hired to increase visibility for RXMD in the OTC investment community (and beyond, as much as may be possible) from June and through the remainder of the year, until Progressive Care mgmt could move onto other methods such as the road shows, which they started recently now that so much has been accomplished with the business performance to goals, including debt payoff, revenue growth and Q over Q operational profit, etc. They recently did the road show in New York, for example.
Part of the payment to MIDAM was $60k cash, the rest was incentive installments of company stock. The first 10M share block were eligible to have the restricted legend removed for free trading this month. The second 10M share block are eligible in April 2016.
There's no reason to think MIDAM would want to "dump" shares as you put it. They are just like us, with incentive to see the stock price rise substantially before ever selling. 20M shares at .01+ pps is $2,000,000, which completely blows away their $60k cash payment. If MIDAM sees that price or higher in 2016... THAT is the time to start selling the stock and making their money, and they are not idiots - they will do what investors do... sell onto the ask with a rising pps with news!
The agreement and link that you provided were from June 17. On the following day (June 18), the company filed a replacement disclosure with a correction clearly stating that 1) the shares are restricted, and 2) the shares are given in two separate installments - the first upon execution of the agreement, and the second "in October 2015."
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Here is further information and details if anyone is interesting to understand more:
So given that MIDAM has two blocks of restricted shares and that the first block may have become eligible for removal of the "restricted" legend, MIDAM would have to be in a real hurry to try to coordinate with the Progressive Care mgmt and the Transfer Agent to get consent from the company and the legend removed by the Transfer Agent and then... what, dump the shares?
The agreement and link that you provided were from June 17.
On June 18, the company issued a replacement disclosure for the agreement titled:
"CORRECTION: Entry into a Material Definitive Agreement: MIDAM Ventures, LLC"
The .pdf file link for the agreement document was:
"Material Agreement MIDAM 06.15.15 FINAL.pdf"
Here is the link to that disclosure:
June 18, 2015 | CORRECTION: Entry into a Material Definitive Agreement: MIDAM Ventures, LLC
The introduction page reads:
Read my posts. All my opinion, but I'm sure it's not longs at all. Very easy to explain what happened today... and no worries from me - plenty of upward price movement coming!
Any volume traded today was at times of day and price action selling consistent with: flips (early today), weak/nervous hands (mid-day with stop loss trigger scare), and profit-exit (end of day).
When longs are involved:
1) it will be at much higher prices
2) it will be selling into the buying action on the ask
3) volume will be more in the range of 70-125M shares traded on the day
4) you'll see the longs buying back in on dips along the way, turning the price back around and upward again
Glad to find out that my support orders picked up another nice chunk of shares this afternoon, but had a meeting and missed the last couple hours of the action.
Yes, I agree completely - OTC stocks don't follow fundementals on the hour-by-hour trading. It takes days. It was set up perfectly for the afternoon, until what appeared to be a stop loss trigger, and then those that wanted to lock in gains were much more willing to settle for the gains from the previous few weeks.
IMO, no worries. RXMD is solid and, as those who've done DD know, it's way undervalued and now with no dilutive selling to pay off debt. We'll see those gains for the pps correction over the next several sessions as this volatility clears. Chart looks great, even better with RSI simmered down and, for TA chartists... golden cross is imminent.
Those who sold to grab their gains impatiently today will hope to see a drop to next support so they can get back in for the ride up, but that may not happen again like it did at the end of today's session. This is where some make the mistake of selling their winners, just to feel good about realizing their gains. They're probably still holding some losers, hoping to see them turn around before selling, while this winner will go up significantly before it settles.