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Everything is in plain sight. Now is the loading time.
Of course. Who is not seeing this coming?
I still hope they can spin off first before taking Progressive in.
The current RXMD shareholders will benefit greatly from the new combined company under the name of NextPlat because of this:
"Launching the e-commerce development program in its home state of Florida, NextPlat intends to aggressively expand the program throughout the United States and beyond. It’s important to note that the merchant sourcing agreement defines NextPlat customers as companies primarily based in the United States that produce products made in North America, South America and/or Central America. Onboarding businesses in all of the Americas could quickly snowball as more and more companies join the NextPlat initiative of new e-commerce profitability and success stories about the program emerge."
https://techmediawire.com/nextplat-corp-nasdaq-nxpl-celebrates-great-day-in-miami-with-more-on-the-way/
On top of their aggressive agenda expanding such partnerships doing business with China, Healthcare E-commerce will be NextPlat's core business. Tens of millions of dollars of cash are currently in Progressive Care's reserve thanks to the investment from their current management team, investment banks such as Dawson James, and the healthcare entrepreneur Phillip Frost. What will NextPlat do with all these cash just dedicated to Progressive Care? The market is waiting anxiously to find out what the company will announce in the next 30-60 days.
It will be great if they can announce all those new partnership news, new revenue potentials from new agreements, new developments on Web3, new e-commerce platform FIRST. These series of great news could potentially push NXPL to an ALL-TIME HIGH before the spinoff. Even after issuing the "bonus shares" for the new company, the remaining NXPL could still be worth a lot. THEN, the merger with the $40M Progressive Care from OTC will really excite the market when the new combined company starts trading on Nasdaq. Maybe there will be more M/A deals going on considering the new company's extremely aggressive agenda in the healthcare sector.
It will be great if they can announce all those new partnership news, new revenue potentials from new agreements, new developments on Web3, new e-commerce platform FIRST. These series of great news could potentially push NXPL to an ALL-TIME HIGH before the spinoff. Even after issuing the "bonus shares" for the new company, the remaining NXPL could still be worth a lot. THEN, the merger with the $40M Progressive Care from OTC will really excite the market when the new combined company starts trading on Nasdaq. Maybe there will be more M/A deals going on considering the new company's extremely aggressive agenda in the healthcare sector.
So internally they have merged. What’s the next step in July? Spinoff first? Partnership news first? shares conversion and uplist?
Alright, guys. It’s official now (well, not really, but close enough). Progressive is now part of NextPlat. I have seen the evidence, just updated today.
I think they will simply leave the CFO position vacant and let the current VP of Finance fill in the role before Progressive formally merges into NextPlat.
"the Employee’s (Cecile Munnik) Partial Employment Period shall immediately and automatically expire and terminate Employee shall fully cease employment with Progressive, and, commencing on July 1, 2023, Employee shall be devoting all of her business time and efforts to the performance of her duties hereunder unless otherwise authorized by the CEO (Charles Ferndandez)."
Employment Agreement, dated as of November 14, 2022, by and between the Company (NextPlat) and Cecile Munnik
https://contracts.justia.com/companies/orbital-tracking-corp-1828/contract/260162/
Cecile Munnik is no longer the CFO of Progressive Care as of today. PR regarding this position should be announced very soon.
You missed the point. Charles' original intention of buying OSAT is really not for OSAT. It's for restructuring and getting it prepped for his eternal vision of building a healthcare e-commerce Nasdaq company that will lead in the industry. Don't you see it?
Absolutely not. The party will be huge.
This is another example that shows why Charles Fernandez was called a "restructuring whiz" by Fortune Magazine. Orbsat will be spun off as another Nasdaq company, while he has a perfect public shell NXPL that already has all the promotional work in place (Alibaba and many other partnerships, Web3, e-commerce platforms etc.). By doing this, he will maximize the stability of transitioning RXMD from OTC to Nasdaq by merging into NXPL as compared to traditional SPAC, or straight uplist from OTC. All those $20M+ investment Charles put into NextPlat will mostly remain in the company and is ready to expand business around RXMD.
The history of NextPlat:
In June, 2021, Charles and Rodney etc. invested $14.4M in Orbsat, an OTCQB company ($OSAT), and brought the company to Nasdaq after a 1:15 RS and changed the company's name to NextPlat ($NXPL). They invested another $10M after that before investing $8M in Progressive Care in August, 2022. In May, 2023, NextPlat announced they are planning to spin off Orbsat and will focus on healthcare ecommerce. The company also announced their intention to take over 50% control of RXMD in May.
Lots of confidential partnership deals, agreements already happened in May and June with NextPlat. They had to stop posting their monthly company presentation in June because all these new things could not be announced yet (still not updated as of today). Everything is all about timing. Charles timed each action precisely at every step as we have seen since he became the CEO. He knows what he’s trying to achieve, and he made Armen succumb to his grand plans even before all these happened. Armen’s 51 series A preferred shares were exchanged for 25,513,647 shares of common stock on 9/2/2022 and are equivalent to 127,563 shares as of today. He did not give up the control of the company he founded and fought for for more than 10 years that brought in $40M revenue in 2022 just for this.
These two form 4 filings show detailed transactions related to the news that was previously announced by NextPlat on 5/11/2023.
NextPlat Strengthens Ties to Progressive Care Inc. Investing an additional $1 Million; and Explores the Possible Spinoff of its Global Telesat and Orbital Satcom Business Units
https://ir.nextplat.com/news-events/press-releases/detail/103/nextplat-strengthens-ties-to-progressive-care-inc
1. NextPlat purchased $1M worth of RXMD stock.
2. Charles, Rodney and NextPlat converted their $2.9M worth of Progressive Care convertible debt (obtained from Illiad in September 2022) to RXMD stock.
3. The conversion rate is $2.2/share
They will reach 50% control very soon.
Load load load, load more RXMD. No brainer.
Fun fact for the night: Carlos Rangel labelled himself as working “on-site” as the Director of Marketing Operations at NextPlat. His office is in Progressive’s headquarters in Hallandale. It’s considered “on-site”.
This company probably is the winner of all OTC scammers of all time. A house full of liars and thieves. Be aware.
I don’t care too much about the future of that part of their business. It’s going away anyway.
On top of all these speculations (LOL), NXPL was just included in Ressell Microcap Index. They are not worried the stock price of NXPL will go down to zero!
I do think NXPL will have some major surprising news to be announced before the spinoff, as mentioned by Charles Fernandez on 5/31. Charles etc. timed everything precisely since day one. By doing so, NXPL will not shrink down to zero after spinoff, which will be a total disaster in every way you look at it. If the new partnership deals show enough magnitude, the expectations from investors could sustain the remaining value of NXPL at a relatively high level, even after spinoff. Then together with the infusion of RXMD, this whole new company will be a huge deal to the market.
I should have said the value of the stocks will pretty much all go to the new company being spun off, instead of “shares go to the new company”. But these are the same consequence.
It says the same thing, isn't it? Which part is not right? The stock price reflects the value of the company, if the parent company has no value left (theorectically a shell company), then what will be the SP for the parent company's original shares? Again, please consider the third situation that I have repeated many times, which adds significant value to NXPL due to new partnerships that are coming out.
This is called “Conservation of Energy”. No such “bonus shares” will be given to the current shareholders out of thin air just because they are spun off from the parent company. If the latter has nothing left after spin-off, then the old shareholders have nothing left other than the magic “bonus shares”. lol
The “bonus shares” are really not bonus. They are proportional to the the value of the parent company. If 100% of value goes out, then “bonus shares” are all you have, equivalent to whatever you were holding before, theoretically, not considering if the parent company adds some new value after or around the time of spinoff.
SPAC Consultants posted this NXPL/RXMD news when the $8.3M recapitalization deal was completed in August last year. However, the speculation of RXMD merging with a SPAC company was struck down by Charles Fernandez in November during the Q3 conference call due to his so called “unpreferred market condition”. But keep in mind, 100% of the articles on SPAC Consultants are all about SPAC.
https://spacconsultants.com/nextplat-invests-7-million-in-recapitalization-of-progressive-care-inc/
After almost a whole year since they completed this deal, where are we now? NextPlat is planning to spin off all their current telecommunications business and will literally become a public shell company. Once they reach the 50% control of Progressive, RXMD will most likely merge into the shell company NXPL. Isn’t this how a SPAC actually works? Since the beginning, Charles, Armen etc, have been planning on this. The NextPlat VP of Business, Ellenoff, has been called SPAC King by his peers.
SPAC Consultants posted this NXPL/RXMD news when the $8.3M recapitalization deal was completed in August last year. However, the speculation of RXMD merging with a SPAC company was struck down by Charles Fernandez in November during the Q3 conference call due to his so called “unpreferred market condition”. But keep in mind, 100% of the articles on SPAC Consultants are all about SPAC.
https://spacconsultants.com/nextplat-invests-7-million-in-recapitalization-of-progressive-care-inc/
After almost a whole year since they completed this deal, where are we now? NextPlat is planning to spin off all their current telecommunications business and will literally become a public shell company. Once they reach the 50% control of Progressive, RXMD will most likely merge into the shell company NXPL. Isn’t this how a SPAC actually works? Since the beginning, Charles, Armen etc, have been planning on this. The NextPlat VP of Business, Ellenoff, has been called SPAC King by his peers.
“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. “Although there remain supply chain headwinds and the challenge of global inflation, we are confident that we have the right combination of market-tested expertise, technology and partnerships that will enable us to bring the power of e-commerce to more customers, brands and industries in the United States and abroad.”
https://www.investorbrandnetwork.com/clients/nextplat-corp/
The future of RXMD is the healthcare e-commerce Nasdaq company NXPL. The future of NXPL starts from the acquired foundation of RXMD.
How to Make the Most of Your Health Savings Account
June 28, 2023
https://www.biomedwire.com/how-to-make-the-most-of-your-health-savings-account/
As the cost of healthcare continues to rise and inflation continues to increase, finding ways to save money will benefit many. Given that those with health savings accounts, commonly referred to as HSAs, can contribute more following recent increases to the limits to people’s contributions to HSAs, Health-E Commerce has shared some tips to maximize value from these limit increases.
Health-E Commerce is the parent company of HSA Store, WellDeservedHealth and FSA Store, a collection of digital marketplaces that serve millions of consumers registered in pretax medical as well as wellness accounts.
These tips include:
Using online tools to project one’s spending, saving needs
Users of health savings accounts of all ages can benefit from using online tools to manage their funds. Higher contribution limits afford consumers the ability to decrease their taxable income even further while also setting aside more funds for their current healthcare needs and for the future.
The HSA Store provides a calculator for tax savings that helps users plan for expenses in the future as well as a future value calculator, which forecasts the long-term savings potential. The firm also provides an expense dashboard that enables account holders to save receipts and easily track expenses.
Determine your type of plan and the amount you can contribute
New limits that will come into force in 2024 will allow people in high-deductible health plans (HDHPs) to contribute up to $4,150 to their health saving accounts. Individuals registered in a family-scope HDHP will be allowed to set aside up to $8,300.
To have a health savings account, a family or person has to enroll in HSA-qualified HDHPs. Individuals are advised to confirm their plan type with HR and come up with a contribution amount they’re comfortable with.
Save more by spending savings account monies on ordinary health needs
In the last few years, eligibility of health saving accounts has expanded to afford users the power to use their funds to pay for day-by-day health, prevention and wellness products. From OTC pain medications to allergy drugs to band-aids, there are numerous ways for consumers to leverage tax-free medical funds to purchase frequently needed products/items.
The HSA store has provided a searchable eligibility list online that makes it easier to save valuable money and time. HSA Store VP Itamar Romanini stated that when it came to healthcare and finances, consumers wanted support, convenience and flexibility, which a health savings account could deliver. Romanini further noted that understanding how expanded eligibility of HSA aligned with daily health needs could help consumers achieve the maximum value from these accounts.
As more companies such as NextPlat Corp. (NASDAQ: NXPL) (NASDAQ: NXPLW) enter the healthcare ecommerce space, more people with HSA plans could find it easier to turn to these platforms for any products or services that they need which are covered in those plans.
I'm loading RXMD instead of NXPL because of obvious reasons already explained earlier. NXPL is planning to spin off their 100%-revenue telecommunication business as they have announced. Why do you want to buy more NXPL at this point when majority of their shares will go to another company that's being spun off? Besides, we all know RXMD will be taken under their wings once they reach the 50% control. In the third situation that I laid out in my earlier post, NXPL might gain some additional significant revenue/anticipated interest due to their recent many new partnerships that's supposed to be disclosed in the next 30-60 days. Still, buying RXMD will be a safer option before any solid news hit the market.
Still remember this news about Pharmco's Remote Patient Monitoring program (RPM)?
https://www.pharmcorx.com/post/progressive-care-to-expand-into-rapidly-growing-remote-patient-monitoring-market
Well they have a website just for this program that's not directly linked to their main page. I found it so here it is:
https://www.pharmcorx.com/rpm
Do you also remember "Progressive Care Launches Native Remote Patient Monitoring Mobile App and Physician Portal to Remotely Manage Chronic and Transitional Care"
https://www.progressivecareus.com/post/progressive-care-launches-native-remote-patient-monitoring-mobile-app-and-physician-portal-to-remotely-manage-chronic-and-transitional-care
If you download the PharmcoRPM app, you will see the platform is actually being run by 1bios health:
https://www.1bioshealth.com/solutions/remote-patient-monitoring-0
Their website shows you how to calculate new revenue from RPM. Scroll down on this page and you will see it. Earn up to $200 per patient per month providing virtual care to everyone in need.
It is correct, although Schwab and the person himself are both POS.
However, a third situation can be that NextPlat is gaining some significant revenue from its recent e-commerce business with Alibaba etc., which will raise the post-spinoff value of NXPL to more than just a public shell. Charles mentioned the company will be on a news spree in the next 30-60 days to disclose their new partnerships and business plans. If so, the conversion ratio of RXMD to NXPL might change accordingly too because not 100% shares of NXPL will be issued to the new telecommunication companies that will get spun off. Some portions of the common shares will be retained by NextPlat before executing the stock-for-stock acquisition of Progressive Care.
"Acquirer in a Corporate Acquisition
A corporate acquisition is a situation when the acquirer purchases all or part of the shares of another company in order to gain control of the management of the target. The acquirer is able to take over the target company when it acquires more than 50% of the company’s voting stock.
The acquisition often involves buying a majority stake in the company’s stock in order to exert more influence over the decisions of the board of directors. The acquirer believes that, by gaining control of the target, the company will grow its infrastructure and expand its market dominance."
https://corporatefinanceinstitute.com/resources/valuation/acquirer/
NextPlat will exert more than 50% control of Progressive Care according their last 8K. Then the next most logical step is a stock-for-stock acquisition of RXMD.
"The Company expects to exercise and/or convert such portion of its convertible and exercisable Progressive Care securities to increase its equity holdings in Progressive Care to more than 50% of its issued and outstanding voting securities."
https://ir.nextplat.com/news-events/press-releases/detail/103/nextplat-strengthens-ties-to-progressive-care-inc
"Stock-for-Stock Mergers and Shareholders
When the merger is stock for stock, the acquiring company proposes payment of a certain number of its equity shares to the target firm in exchange for all of the target company's shares. Provided the target company accepts the offer (which includes a specified conversion ratio), the acquiring company issues certificates to the target firm's shareholders, entitling them to trade in their current shares for rights to acquire a pro-rata number of the acquiring firm's shares. The acquiring firm issues new shares (adding to its total number of shares outstanding) to provide shares for all the target firm's converted shares."
https://www.investopedia.com/ask/answers/06/stockforstockmergerdetails.asp#:~:text=Provided%20the%20target%20company%20accepts,of%20the%20acquiring%20firm's%20shares.
The interesting part is that NextPlat will spin off their telecommunications business, which accounts for 100% of their current reported revenue.
"the Company has engaged Dawson James Securities, Inc. to advise the Company in connection with its consideration of a possible spinoff of its Global Telesat Communications Ltd and Orbital Satcom Corp business units as the Company continues its evolution as a global e-commerce and technology company."
https://ir.nextplat.com/news-events/press-releases/detail/103/nextplat-strengthens-ties-to-progressive-care-inc
The most interesting part is how they are gonna execute these plans. Spinoff first, then acquisition? or acquisition first, then spinoff? In the first situation, NXPL will literally become a public shell company after spinoff, then RXMD will reverse merge into NXPL. The stock conversion can be very straightforward in my opinion. probably 1:1. In the second situation, it can be very complicated in terms of pre-spinoff share conversion, post-spinoff stock price etc.
"Acquirer in a Corporate Acquisition
A corporate acquisition is a situation when the acquirer purchases all or part of the shares of another company in order to gain control of the management of the target. The acquirer is able to take over the target company when it acquires more than 50% of the company’s voting stock.
The acquisition often involves buying a majority stake in the company’s stock in order to exert more influence over the decisions of the board of directors. The acquirer believes that, by gaining control of the target, the company will grow its infrastructure and expand its market dominance."
https://corporatefinanceinstitute.com/resources/valuation/acquirer/
NextPlat will exert more than 50% control of Progressive Care according their last 8K. Then the next most logical step is a stock-for-stock acquisition of RXMD.
"The Company expects to exercise and/or convert such portion of its convertible and exercisable Progressive Care securities to increase its equity holdings in Progressive Care to more than 50% of its issued and outstanding voting securities."
https://ir.nextplat.com/news-events/press-releases/detail/103/nextplat-strengthens-ties-to-progressive-care-inc
"Stock-for-Stock Mergers and Shareholders
When the merger is stock for stock, the acquiring company proposes payment of a certain number of its equity shares to the target firm in exchange for all of the target company's shares. Provided the target company accepts the offer (which includes a specified conversion ratio), the acquiring company issues certificates to the target firm's shareholders, entitling them to trade in their current shares for rights to acquire a pro-rata number of the acquiring firm's shares. The acquiring firm issues new shares (adding to its total number of shares outstanding) to provide shares for all the target firm's converted shares."
https://www.investopedia.com/ask/answers/06/stockforstockmergerdetails.asp#:~:text=Provided%20the%20target%20company%20accepts,of%20the%20acquiring%20firm's%20shares.
The interesting part is that NextPlat will spin off their telecommunications business, which accounts for 100% of their current reported revenue.
"the Company has engaged Dawson James Securities, Inc. to advise the Company in connection with its consideration of a possible spinoff of its Global Telesat Communications Ltd and Orbital Satcom Corp business units as the Company continues its evolution as a global e-commerce and technology company."
https://ir.nextplat.com/news-events/press-releases/detail/103/nextplat-strengthens-ties-to-progressive-care-inc
The most interesting part is how they are gonna execute these plans. Spinoff first, then acquisition? or acquisition first, then spinoff? In the first situation, NXPL will literally become a public shell company after spinoff, then RXMD will reverse merge into NXPL. The stock conversion can be very straightforward in my opinion. probably 1:1. In the second situation, it can be very complicated in terms of pre-spinoff share conversion, post-spinoff stock price etc.
“A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.”
https://www.investorwire.com/newsarticle/?qmstory=8257342069024416
https://ir.nextplat.com/news-events/press-releases/detail/105/nextplat-corp-announces-inclusion-in-the-russell
It's hard to imagine they added NXPL to the Russell index not knowing they are spinning off the telecommunications business, which accounts for 100% of their current revenue. LOL. Taking that away, what actual value does NextPlat still have? Obviously, Russell index committee was not bothered at all. Time to invest in RXMD, because Progressive revenue will replace their telesat revenue and will make up of the majority value of the new NXPL.
“A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.”
https://www.investorwire.com/newsarticle/?qmstory=8257342069024416
https://ir.nextplat.com/news-events/press-releases/detail/105/nextplat-corp-announces-inclusion-in-the-russell
It's hard to imagine they added NXPL to the Russell index not knowing they are spinning off the telecommunications business, which accounts for 100% of their current revenue. LOL. Taking that away, what actual value does NextPlat still have? Obviously, Russell index committee was not bothered at all. Time to invest in RXMD, because Progressive revenue will replace their telesat revenue and will make up of the majority value of the new NXPL.
Russell Micocap Index 2023 removed 315 companies and added 163 new companies. Considering NextPlat is spinning off their current telecommunications business, this new addition to the index is very interesting.