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That Florida page was searchable for 5 minutes but was not meant for sharing. Those who bought NXPL that day when I shared it would have made at least 100% return.
I just found some confidential information after deep search. Not sure if I should share. But probably I shouldn’t. Whoever sells at this level is a fool.
Just 7330 shares traded, and this thing goes up 50%. ROTFLO LMAO. Judge for yourself. This is the ground level.
This is how stupidly RXMD is undervalued. It should be trading at $20 minimum.
Any one wanna buy 5 shares at 5.95? Lol
Ok, now it’s updated. Now the ASK is at $5.95
45 shares are not small number though.
I bought 45 shares at $5.25. They went through but not shown on Level 2.
RXMD is halted.
There are $14M reasons from those billionaires why RXMD will skyrocket very very soon.
This will go violent once right news drop. It will come, very soon.
Record quarterly revenue of $11.4M is just a starter. NextPlat and other individual healthcare entrepreneurs have invested over $14M in RXMD. Huge plans are brewing right now. Boom time is coming if some major news drop.
This one is huge. Phillip Frost is a highly recognized and successful entrepreneur in Healthcare industry for the past 60 years. His personal investment of $6M in NextPlat’s healthcare sector and RXMD is a clear signal where the company is going. The first thing you see on the front page of NextPlat website is “Digitalizing Healthcare”. Over $14M have been moved into RXMD by NextPlat, including the investment from Phillip Frost. What’s about to come will be a game changer plan for both companies.
Remember the $6M investment from the healthcare billionaire Phillip Frost. It’s for RXMD.
This is how quickly RXMD will rise once big news drop.
“We are happy to announce that we have dispensed over 1 million prescriptions across 11 states in the U.S. and Canada.
The MedCenter dispensing kiosk serves patients in urgent care, emergency departments, community health clinics, and college campuses.
The MedCenter allows greater access to patients through the ability to get first-fill compliance and live pharmacy counseling, all at the point of care or convenience. This technology is crucial to patient access as pharmacy deserts expand in rural and urban settings.
Currently, ADDS technology is approved for more than 70% of the U.S. Population. If you want to know if it's approved for your state, contact your pharmacy board or sales@medavail.com.
www.medavail.com”
"It is through our unique capabilities and reach that we are creating value for our customers, partners, and shareholders as we continue our efforts to expand our focus into healthcare through our strategic investment into Progressive Care and into additional consumer segments in large markets including China later this year."
https://ir.nextplat.com/news-events/press-releases/detail/104/nextplat-announces-first-quarter-2023-results
Exactly: “will support the expansion of its offerings into the rapidly growing healthcare sector through its previous strategic investment in Progressive Care Inc.”. That’s $6M! What are they gonna do with it?!
NextPlat is currently "providing management and administrative services to Progressive Care" according to their 10Q and "will terminate upon (i) the liquidation or dissolution of the Company, (ii) the sale of all or substantially all of the assets of the Company to a third party or (iii) the sale of control of the Company, whether by sale of membership interests, merger, reorganization, consolidation or otherwise, to a third party."
So, NextPlat already has taken over the management and administrative services based on their agreement.
https://www.sec.gov/Archives/edgar/data/1058307/000149315223017186/ex10-1.htm
NextPlat 10Q just came out. "We own approximately 38.4% of the total outstanding voting securities of Progressive Care, and we expect to exercise and/or convert such portion of the convertible and exercisable Progressive Care securities we own to increase its equity holdings in Progressive Care to more than 50% of Progressive Care’s issued and outstanding voting securities. "
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001058307/000149315223017186/form10-q.htm
It's 100% clear now RXMD will become a subsidiary of NextPlat after they reach 50% ownership and NextPlat will spin off the currently unprofitable satellite business and will focus on healthcare business.
From the quarterly sales, it’s great news they are spinning off the satellite business and stick with RXMD!
Phillip Frost’s $6M investment in NextPlat’s healthcare business is another reason RXMD will go up from here.
PBMs are being regulated in Florida as we speak. So their fees will only go down. The most important is NextPlat is exploring innovative new offerings into the healthcare business that will depend much less on PBMs. Being profitable is a very feasible goal.
Now is the bottom for RXMD. NextPlat partnership news and their “array of innovation plans for healthcare” should be forthcoming.
This week is the turning point for RXMD. More eyes will be on this one again. Record revenue, higher profit margin. NextPlat is on some big plan with over $8M investment in RX. People are getting very curious.
True. But what about Armen?
I get it how you feel, truth, but the sad days are coming to an end, try to look for some hope in them. I guess now is the new start.
Combined with organic record growth of Progressive Care by itself in prescription and 340B sales, NextPlat will bring E-commerce and an array of new offerings into the healthcare market. 2023 will be a game changing year for both companies. I would imagine more M/A is coming to their healthcare business.
“we intend to launch an array of innovative new offerings into the high-growth health care market”. Wait for news!
“Our goal for 2023 and beyond is to leverage our improved operational capabilities and enhanced leadership team as we expand our offerings in communications and connectivity into the high-growth health care market where we intend to launch an array of innovative new offerings,” Fernandez said in a March 2023 news release detailing the company’s record top-line performance.
The health care portion of the e-commerce market is generating particularly bullish forecasts, bolstered by the continued adoption of the 340B Drug Pricing Program
in the U.S., which requires most drug manufacturers to provide outpatient drugs to covered entities at significantly reduced prices. Industry reports suggest that the global health care e-commerce market will expand at a compound annual growth rate of 16.8% from 2022 to 2030, climbing to a value of more than $1.37 trillion by the end of the forecast period.”
NextPlat Corp. (NASDAQ: NXPL) Is ‘One to Watch’
https://web3mediawire.com/nextplat-corp-nasdaq-nxpl-is-one-to-watch/
Wait for Nextplat to announce some huge partnership news in May and June. They are spinning off their satellite business and focusing on developing a world leading digital platform designed for healthcare industry. This will be huge for RXMD. The future is really bright.
This is really great news! Record $11.4M quarterly revenue, 28% profit margin (4% higher) due to higher 340 contracts. $300K less interest expense and $953K elimination of derivative liabilities! The Nextplat digital platform will push this to an even higher record revenue and profit margin. Absolutely great news.
https://www.progressivecareus.com/post/progressive-care-inc-announces-first-quarter-2023-financial-results-ofrecord-quarterly-total-revenues-of-11-4-million
Progressive CareInc. (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology provider, today announced financial resultsfor the first quarter ended March 31, 2023. The Company experienced record quarterly total revenues of $11.4 million, a 13% growth from the prior year period.
First Quarter2023 Financial Highlights (at or for period ended March 31, 2023, as compared to March 31, 2022, and December 31, 2022):
? Total pharmacy revenue increased by $1.3 million, or 13%, to $11.4 million during the three months ended March 31, 2023, compared to $10.1 million in the prior year period.
? Prescription revenue increased by $1.8 million, or 21%, to $10.4 million during the first quarter of 2023, compared to $8.6 million in the prior year period, primarily reflecting an 8% year-over-year increase in the number of prescriptions filled period-over-period.
? 340B contract revenue was $1.6 million during the first quarter of 2023, an increase of $1.2 million, compared to $0.4 million in the prior year period. The increase was primarily attributable to an increase in our existing 340B contracts of approximately $0.9 million and an increase in new 340B contract revenue of approximately $0.3 million.
? Gross profit margin increased from 24% for the three months ended March 31, 2022, to 28% for the three months ended March 31, 2023 primarily due to the increase in 340B contract revenue, which has higher margins than revenue generated from pharmacy operations.
? Cash balance as of March 31, 2023 was approximately $7.5 million.
OrganizationalHighlights 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 completed a transaction of $1.0 million investment from NextPlat Corp.
Summary Financials for the Three Months Ended March 31, 2023 and 2022
FinancialResults for the Three Months Ended March 31, 2023
For the three months ended March 31, 2023 and 2022, we recognized overall revenue from operations of approximately $11.4 million and $10.1 million, respectively. Net pharmacy revenues increased by approximately $1.3 million during the three months ended March 31, 2023 when compared to the same period in 2022. The increase in revenue was primarily attributable to an increase in pharmacy revenue of approximately $1.8 million and an increase in 340B contract revenue of approximately $1.2 million, which was offset by an increase in PBM fees of approximately $0.4 million and a decrease in COVID-19 testing revenue of approximately $1.2 million, when compared to the prior year period.
Gross profit margins increased from 24% for the three months ended March 31, 2022, to28% for the three months ended March 31, 2023. The increase in gross profit margins during the first quarter of 2023 compared to the same period in 2022, was primarily attributable to the increase in 340B contract revenue, which has higher margins than revenue generated from pharmacy operations.
Income from operations increased by approximately $0.1 million for the three months ended March 31, 2023, when compared to the three months ended March 31, 2022, as a result of the increase in gross profit of approximately $0.7 million, partially offset by the increase in operating expenses of approximately $0.6million. The increase in operating expenses was mainly attributable to a settlement of a pharmacy claims audit in the ordinary course of business in the amount of approximately $0.3 million, as well as an increase in salaries and wages of approximately $0.1 million and an increase in non-recurring consulting fees of approximately $0.2 million.
How are they gonna convert it is a big question. I would imagine Armen was not stupid enough to accept some ridiculous terms when he handed over the company to Charles knowing his over 40 millions shares would eventually become NXPL.
We are basically all investing in NXPL at this point. This is a fact. RXMD shares will be converted to NXPL once it becomes a subsidiary.
"A creeping takeover occurs when one company slowly increases its share ownership in another. Once the share ownership gets to 50% or more, the acquiring company is required to account for the target’s business through consolidated financial statement reporting.
The 50% level can thus be a significant threshold, particularly since some companies may not want the responsibilities of controlling ownership. After the 50% threshold has been breached, the target company should be considered a subsidiary."
https://www.investopedia.com/terms/t/takeover.asp#:~:text=A%20creeping%20takeover%20occurs%20when,through%20consolidated%20financial%20statement%20reporting.
What this means to us is RXMD shares will be converted to NXPL, which trades on Nasdaq.
Douglas Ellenoff was on this whole transaction from the beginning since Charles took over the reigns of NextPlat. What they needed is the Nasdaq Company NXPL, not their satellite business, just another way to bring their other business units (healthcare, digital platform etc.)to Nasdaq through such control transitions between different entities. Progressive Care will become a subsidiary of NXPL once the control is over 50%.
The fact that they are spinning off all their current business in Satellite Communication and investing even more money in Progressive Care sends out a very clear message: Progressive Care is the future for them. As a Nasdaq company, Nextplat must have some huge plans already in place to make up for the revenue that they are gonna spin off.
Nextplat "expects to increase its equity holdings in Progressive Care to more than 50% of its issued and outstanding voting securities." This is the reason why they are not promoting RXMD because they need to absorb more shares to over 50% at such low price. Once that goal is achieved, it will be NEWS Time!
This can potentially save Progressive Care millions of dollars of PBM cost eavery year.