is just an alias.
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The beauty of it is, you don't need to read them if you don't like them.
Whether or not this is the beginning of the next big run, or just a modest step up, I'm digging this volume.
I figured something else HAD to be up, but I hadn't seen that.
7 tranches. Interesting.
Item 1.01 Entry into a Material Definitive Agreement
On January 7, 2019, the Progressive Care, Inc. (the “Company”) entered into that certain
Securities Purchase Agreement (the “Purchase Agreement”) with Chicago Venture Partners, L.P.
(the “Investor”), whereby the Investor purchased from the Company, and the Company issued to
the Investor for a purchase price in the amount of $2,510,000 that certain 9% Secured Convertible
Promissory Note (the “Note”) in the aggregate principal amount of $2,710,000, including an 8%
original issuance discount and $10,000 for attorneys’ fees. The purchase price is to be delivered
in seven (7) tranches: the first tranche is a cash payment of $1,000,000, delivered on January 7,
2019, and the other six (6) tranches are to be delivered in the form of $250,000 promissory notes,
in the form of six (6) investor notes (the “Investor Notes”), each in the principal amount of
$250,000.00, maturing thirty six (36) months from the date of the closing, bearing interest at the
rate of 10.9% per annum, which may become secured by the Company’s assets in the future upon
the occurrence of certain events. In addition, to secure the obligations of the Company pursuant
to the Note, the Company has agreed to grant to the Investor a first priority security interest in
the collateral by entering into that certain Security Agreement in favor of the Investor (the
“Security Agreement”).
PharmCo, LLC, a wholly-owned subsidiary of the Company (“PharmCo”), has agreed to guarantee
the Company’s obligations under the Purchase Agreement, the Note and the Security Agreement
by entering into that certain Guaranty Agreement in favor of the Investor. Pursuant to the
Guaranty Agreement, the Company has agreed to pay to PharmCo 10% of all proceeds it received
from the Investor, as consideration to secure the Company’s obligations, and an additional 50%
of all proceeds from the Investor for PharmCo’s ongoing business operations.
The Note supersedes the terms of that certain Securities Purchase Agreement entered into in July
2016 by and between the Company and the Investor, which is of no further force or effect. The
Note is convertible into restricted shares of the Company’s common stock at a price equal to 80%
of the average of the 5 lowest closing prices during the 20 trading days preceding such conversion
date. Pursuant to the Note, certain volume limitations and maximum monthly redemption
amounts apply, restricting the Investor’s ability to convert amounts owed under the Note within
certain time periods.
The Company intends to use the net proceeds for general working capital for PharmCo and the
Company to further both companies’ ongoing growth and development.
The above description of the Purchase Agreement does not purport to be complete and is qualified
in its entirety by reference to the Purchase Agreement, which is attached hereto.
Woops!
That's embarrassing.
Bump that chrt to 3 month or 6 month and you'll see SMA200 at 0.0699, was I think 0.0704 yesterday.
I think it was 2 million shares..
Even if the SP hangs around in the 5s a bit longer, and all upcoming news aside, the SMA200 and SMA100 look to be crossed within the next two weeks.
A lot of folks reeeeally seem to love it when that happens.
It's all about proportion, Bob.
You likely have spent more time on it, too.
Check that SMA200 action.
Someone seems so trapped by limited chart-reading knowledge that he just can't grasp what's actually going on with this ticker. Still, it's just more meat for the meat-eaters.
If your technique keeps failing, try switching it up a little. There's money to be had.
If I were a betting man, I'd say volume will pick up after the mid-month acquisition/real estate PR, and that a new base will be established in the sixes, maybe 7s.
But, I'm in "just sit back and enjoy the show" mode at this point.
Things are tracking astonishingly closely to this exact point in time a year ago, albeit about 400% higher, which makes sense considering this is at least 4x the company that it was a year ago.
A year ago we were in the early stages of enjoying the upgrade from pure pink and looking forward to closing on a 2nd location.
Not aware of a context where any of that would constitute a pump. Heck, even on this board there are only a handful of folks who consider any of it so much as marginally newsworthy.
That would be GREAT.
We got a PR describing a walk-through inspection of a worm farm facility that has been chosen as one for KBLB worms. The PR also said they discussed comparison between KBLB and conventional worms and outlined hatching requirements.
Hatching requirements.
That's it.
Yet, here some are, debating which generation of Vietnamese hatchlings we're on.
Entertaining.
It was a weak-sauce PR for sure, but if that's all you've got to report, so be it. Better than nothing.
In the end, though, all that was reported is what was reported.
0.0128 and similar to lower volume a year ago, I meant to say...
0.128 and similar to lower volume a year ago.
More volume, please.
"Gnostics"
Nice.
Precious little of the #2 thrown around here is solid.
Odd that his name and signature were outside the quotes. Probably nothing. Just odd.