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My guess is a stop-loss raid.
$RXMD
JMO, but I think they will continue to drift down, as they have been doing. That may mean a problem for $NXPL. If they are under a dollar for 30 days they will get a non-compliance letter from NASDAQ. They'll have a lot of time to fix the issue, but for most companies it leads, eventually, to an RS. Here? Who knows.
$RXMD
From the Progressive Care announcement:
"On April 12, 2024, NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat") announced a proposed business combination with Progressive Care in an all-stock transaction which is expected to provide revenue synergies and significant initial annual operating cost reductions. The transaction has been unanimously approved by the Board of Directors of both NextPlat and Progressive Care and is expected to close in the third quarter of 2024, subject to regulatory and stockholder approvals, and other customary closing conditions."
This is the second time they have stated third quarter.
$RXMD
"We intend to achieve our near-term goals by capitalizing on our ability to significantly improve the efficiency of our business through our proposed merger with Progressive Care and the opportunity to add multiple new high value healthcare and e-commerce revenue streams to our platform."
Looks like they are working on several M & A projects.
$RXMD
You should rent the movie. You would enjoy it.
$RXMD
I've contacted a company who has funds to invest about $BIOF, suggesting they buy in with enough funds to build the plant. This is outside their normal wheelhouse so we will see.
Your CEO has a significant problem. If he reveals enough about how it works it will get stolen. If he doesn't he will have trouble raising funds. And no, an NDA doesn't work because they can't afford to defend that either.
$BIOF
Watch your ratio between the two and gage what you think will happen to each in the coming weeks. My bet is that $NXPL continues to sink alot while $RXMD stays relatively flat. That makes $NXPL a better buy. JMO
$NXPL
Pooh.
$RXMD
Yup. The MMs control this because of the low volume. Put in a 500 order at 1.93 and see what happens. Same thing. Set the price wherever you want it by playing their game.
$RXMD
If they want institutional investors the last thing they want to do is an RS.
$RXMD
They could, but they don't have to. With the extensions they have almost a year to get the price up.
$RXMD
On $RXMD being under a dollar does not matter since we are OTC. For $NXPL, however, Charles will have to do something to stay on NASDAQ. With 30 days and two 180 day extensions he will have time to fix it. Cut our throats? BS. They already did that. Where have you been?
$RXMD
If any of you talk to Glickman, suggest they pay him to write fluff PRs for them. They need to generate interest. A PR every one to two weeks hinting at a bright future would help a lot.
$RXMD
Cabin, JMO but I don't think an RS is in the cards for $RXMD, there's no point. $NXPL though may have one. They are getting close to the dollar limit to stay on NASDAQ. They have a lot of time, though, before they would be forced to have one. Well past November.
$RXMD
JMO but I think it bounces a little then sinks back into the mud.
$NXPL
Also makes sense regarding the recent late filing. I think we now know who dropped the ball.
$RXMD
True. Their merger will see shares north of $10.
You are mostly right. Anything under $2.20 for $RXMD gets you a discount on $NXPL shares.
For $NXPL I expect the SP to jump when the merger is completed, but from where? If they are below a dollar for more than 30 days they will need to scramble. Could get messy.
$RXMD
Looks like you've gelled it down nicely JS. I do think that between now and November we will see at least one more major addition, either to #3 or as #4 on your list.
$RXMD
They would come up with some BS way around it.
$RXMD
Fernandez and Barreto control both companies. I think an offer of $3 would be rejected but there is some price at which they would sell. My guess is $10. $60 mil for a $150 mil company is still a bargain.
They would, of course, drain off that $8 mil in the bank. Probably have $RXMD buy some newly issued $NXPL shares.
$RXMD
You have it right. That law firm can not do anything.
$RXMD
That surprizes you? This is the stock market. Every tenth company is NOT a scam.
$RXMD
I agree but what can this law group do with that? Nothing!
$RXMD
Cabinmoney, I do not disagree with anything you said. Now prove it in court.
$RXMD
Not from the standpoint of winning a lawsuit.
$RXMD
Yes they did, but in spite of that there is likely nothing this law firm can do about it. While a bit dishonest, there is nothing formally unethical or illegal about what they did.
$RXMD
Hopefully this signals something is about to happen. Guess we will see.
$BLUU
Certainly possible. I'm thinking another acquisition, something in healthcare.
$NXPL
Yes, we got shafted on the conversion rate. It should be 3 or 4 to one but is set at some figure around 1.3 to 1.5. I don't like it but there is nothing we can do about it.
$RXMD
Well folks, now we know how we go to NASDAQ. This has been in the cards from the beginning. The reason the S1 was withdrawn.
$RXMD
Operating revenue minus operating costs. Note that this may be impacted by payments from Accounts Payable in future reports.
$RXMD
Wrong meaning of Goodwill in this case. Read through JS post 193817 again. The accountants test Goodwill once per year. The two reporting units within Progressive Care are TPA and Core Pharma (filling prescriptions). They look at the current value of each unit compared to what they have on the books. At this year's test Pharma didn't measure up so was charged off as Goodwill to adjust. The total business is not worth as much as what they had on the books a year ago.
And before anyone tries to blame Management, this is more about the US economy and changing buying patterns. Many other small pharmacies have not fared as well.
$RXMD
Gedi, I agree that the accountants have reduced the value of the business recorded on the books. My take on it, that the value of the core Retail Pharma business, is smaller makes sense. The small pharmacies are getting hit hard. Many have gone out of business.
$RXMD
Certainly possible.
$RXMD
I understand your hypothesis but think it unlikely. They have not done anything to prop up the $NXPL sp which would get them to 1 for 1 more quickly. JMO they have something else in the works. M & A?
$RXMD
If that were their plan then they would be working to keep the $NXPL price up, but they haven't.
$RXMD
Sorry Turbo, not interested in getting mooned.
$RXMD
With due respect, CaptHowdy, the company management has no say in when the 10K is published. That is up to the independent auditors and the lawyers.
$RXMD
Several of the providers in my rural area use satellite feeds and then re-beam to customers to provide internet. I think that will go away in the next few years as better tech comes out. T-mobile has a 5G internet service that essentially feeds through a cell phone mechanism inside a router. Then there is StarLink using low-orbit satellites.
$RXMD