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It all depends on where those shares were converted at. But if we have had that much, then yes, I would agree that it would be much more than I mentioned. Maybe half of that $2.9 million is gone. Fingers crossed.
Again we will know in just a few days. Annual Report news out this week. Start getting your questions ready for the conference call. Now is the time to ask them the questions you all want to know.
3. Redemption.
3.1. Conversion Price. Subject to the adjustments set forth herein, the conversion price for each Conversion (as defined below) shall be calculated pursuant to the following formula: the Conversion Factor multiplied by the average of the two (2) lowest Closing Trade Prices during the twenty (20) Trading Days immediately preceding the applicable Conversion (the "Conversion Price”).
Please read my most recent post. Convertible debt left as of 11/3/2020, was $2.9 million from the purchase of the Orlando facility back in March 2019.
I think we have a little ways to go yet on the 2nd Iliad Agreement. We have for sure cleared the first $1.1 million from Chicago Ventures for purchase of new Hallendale facility. We relinquished the last shares for that convertible debt on 11/3/2020.
But we had roughly a $2.9 million note with Iliad for purchase of the FPRX location in Orlando to clear yet. I would like to hope we are down to about $2 million on that one.
Well we all know this is going to be a big news week for RXMD. Let's hope for some great things in the recent future.
That is correct.
Last year the company announced the Annual Report Earnings Call on March 25, 2020. With the Annual call taking place on March 31, 2020.
Expect something pretty soon from the company.
Progressive Care Announces 2019 Annual Report Earnings Call and Business Update on March 31, 2020
Press Release | 03/25/2020
MIAMI, FL, March 25, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, is pleased to announce that the Company has scheduled an investor conference call at 4:30 PM ET on Tuesday, March 31st, 2020.
“We are proud of our achievements in the last quarter of 2019. We are eager to update our shareholders on our current business initiatives during the pandemic and beyond,” says Shital Mars, CEO.
Interested parties have the opportunity to submit questions concerning the Company prior to the call to Stuart Smith at SmallCapVoice.Com, Inc. via email: ssmith@smallcapvoice.com by 5:00 PM EST on Monday, March 30, 2020. Mr. Smith will compile a list of questions and submit them to the Company prior to the conference call. The questions addressed will be based on the relevance to the shareholder base, and the question’s appropriateness in light of public disclosure rules.
NEWS: Upon completion of our 2020 audit, we intend to carry on with the process of uplisting to a national exchange, which will provide us with access to a much larger, more diverse pool of prospective investors, including a much wider institutional investor audience.
Yep, many of them are coming. Think about those with crap companies like SHMP as opposed to real companies like RXMD that held on to their shares up to $1 and made more money than they needed. Another few weeks, and those investors will be coming.
Speaking of that! I am betting we get news tomorrow.
Yes they will buddy.
News has been very frequent from RXMD.
Yep, you got that right.
Exactly
I could have done that if I wanted to. Many people could have. But most are smart and know what is ahead for the company in the coming months. LOL
It was forced action with a planned dump. What does that really mean?
Today was transfer of wealth short term to long term investors. One's that saw the news in the shareholder letter, dissected it and just didn't see it as any other day to manipulate the stock and shareholders.
Everyone here really liked the news. Investors accumulated more shares here today from desperate flippers. I enjoyed the day thouroughly.
Really good day for RXMD here. Churned through a couple million or more of flipper group shares, all at a great time too with more big news on the way, and only closed virtually even.
Agreed, looking forward to the greener pastures away from the OTC cesspool. We see what it attracts.
I like hype based on reality, as opposed to falsehoods. RXMD is a Concrete company with concrete buildings and concrete revenues, an investors dream in the OTC. And 4 years of Audited F/S's. Boom baby!
UPLIST TO NATIONAL EXCHANGE IN 2021
Straight from the Annual Shareholder Letter issued today!
https://www.progressivecareus.com/post/progressive-care-ceo-issues-annual-shareholder-letter
Management has the following 2021 Strategic Goals:
- Strive to achieve over $50 million in sales.
- Expansion of COVID-19 testing and vaccination programs.
- Completion of telehealth integration with the roll out of the Eagle Force Digital Passport program.
- Nationwide launch of ClearMetrX 340B TPA services.
- Secure additional not-for-profit healthcare contracts and long-term care facility relationships.
- Achieve full enterprise profitability and earnings growth.
- Become SEC-registered and fully reporting.
- Complete an uplist to a national exchange.
https://www.progressivecareus.com/news-releases
I picked up another 150K shares today too. They want to keep filling my coffers, they are more than welcome.
That we all know. We see what they are doing today. When you see the 400k pop up, that means they are desperate for bid dumps. Everyone can see what they are trying to do to your investment here. Hold and no bid dumps.
Why would anyone do that prior to S1 Finalization, Audited Annual Report, and then Uplist?
I got it to the right man. The one that responds to my emails.
Thanks for mentioning! $40 Million NET REVENUES in 2020, does you current penny investment company have that?
Hit $.27 in 2018 with just 20 million net revenues.
Comparison list of 2021 vs 2018:
1. $40 million NET revenues instead of $20 million
2. SEC Registration nearing completion (filed November 9, 2020)
3. Potential Merger to make us a $100 million NET revenue company.
4. Uplist to higher exchange soon after.
5. New telehealth partnership.
6. New huge square footage facilities in both Miami (11,000 sq ft) and Orlando (3,700 sq ft).
7. Covid Revenue streams, testing and vaccinations.
8. 300% Exponential Growth in 340B Dispensing and Fees.
Good work, keep it up. Rebuild the bids. Again small amounts are fine. Then when they think they have a window, just pounce.
Let's see, Annual Audited F/S's due before end of March. What month is it again. Yah, it is March!
What did the Annual Shareholders Letter state today???
BREAKING NEWS: UPLIST TO NATIONAL EXCHANGE IN 2021 RXMD OTCQB Stock.
Management has the following 2021 Strategic Goals:
- Strive to achieve over $50 million in sales.
- Expansion of COVID-19 testing and vaccination programs.
- Completion of telehealth integration with the roll out of the Eagle Force Digital Passport program.
- Nationwide launch of ClearMetrX 340B TPA services.
- Secure additional not-for-profit healthcare contracts and long-term care facility relationships.
- Achieve full enterprise profitability and earnings growth.
- Become SEC-registered and fully reporting.
- Complete an uplist to a national exchange.
Seems like an effort to talk RXMD Investors out of their shares before S1 Finalization and Uplist to NASDAQ in 2021.
Up 400% since January. Oh the struggles being an RXMD Investor.
Did you miss this part in Shareholder Letter? I sure didn't overlook it! I highlighted it on my calendar in GREEN.
Upon completion of our 2020 audit, we intend to carry on with the process of uplisting to a national exchange, which will provide us with access to a much larger, more diverse pool of prospective investors, including a much wider institutional investor audience.
Management has the following 2021 Strategic Goals:
Strive to achieve over $50 million in sales.
Expansion of COVID-19 testing and vaccination programs.
Completion of telehealth integration with the roll out of the Eagle Force Digital Passport program.
Nationwide launch of ClearMetrX 340B TPA services.
Secure additional not-for-profit healthcare contracts and long-term care facility relationships.
Achieve full enterprise profitability and earnings growth.
Become SEC-registered and fully reporting.
Complete an uplist to a national exchange.
UPLIST TO NASDAQ! Is that what you are referring to?
Because when anyone does their Due Diligence and get into the details of any potential reverse split for this company, we actually find that it will make investors buy this stock. Why and for what reason only has this company mentioned a potential reverse split?
I'll answer that: They have only mentioned performing a reverse split if it is needed to get the proper valuation for uplisting to NASDAQ when that time comes. That is different than the version of a reverse split that you are insuating.
The long-term shareholders and newer investors here actual already completed a shareholder vote approving a reverse split if it is needed to get us to $4-$5 per share when the time comes to uplist to NASDAQ and moving off of the OTC which is not institutional investor friendly and doesn't base company value off of fundamentals. For all we know, there may not be one needed or it may be an easy 10 for 1
It doesn't have to be alot of shares either. 1000, 5000, 10000, etc. Good Luck fellow investors.
I just emailed Armen, gave him some suggestions on contacting SmallCapVoice or Insider Financial type firms for an interview on the Recent News.
Thanked him for the Shareholder Letter as well, it isn't something that every OTC company does, actually only a few. So he needs to know we appreciate that commitment to ProgressiveCare's shareholders.
Think about it fellow RXMD investors, there is only one reason anyone would sell today or drop into bid after the Shareholder Letter. Attempts to drop price to get cheaper shares. You all are doing great. Hold tight to your shares, they are trying to manipulate you again and again to coax those precious shares out of your hands.
My recommendation, is to load the bid for now. If you need shares badly then hit the ask.
Thanks. I always said once they came through with their filing of the S1, I would be back posting. They needed to hold up to their word, and they did.
What type of investor downplays the items they laid out?
Did you know this? I didn't
Management has the following 2021 Strategic Goals:
Secure additional not-for-profit healthcare contracts and long-term care facility relationships.
Did you know this? I Didn't
Management has the following 2021 Strategic Goals:
Strive to achieve over $50 million in sales.
Did you know this in terms of timing? I didn't
OUTLOOK
Upon completion of our 2020 audit, we intend to carry on with the process of uplisting to a national exchange, which will provide us with access to a much larger, more diverse pool of prospective investors, including a much wider institutional investor audience.
Did you know this? I didn't
Outlook
Looking forward to 2021 and beyond, we look to continue progress on expansion of our ClearMetrX 340B TPA services, as well as our other data analytics platforms. At the end of the first quarter of 2021, we expect the ClearMetrX digital platform will be fully operational, which will allow us to expand our third-party administration services to 340B covered entities nationwide. The Company expects that growth in this revenue component will continue at a level at or above the record growth experienced in fiscal year 2020.
That is $9 million in revenues for 2021.