Praxsyn Corp (PXYN)

[countrmike]

The electronic billing to insurance carriers has nothing to do with Factoring.

Factoring is the result of:

During the three months ended March 31, 2014 and 2013, revenues generated from sales of compounding pharmaceutical products primarily to worker’s compensation patients represented 100% of total revenues. The Company revenues are generated from sales of compounding pharmaceutical products primarily to worker’s compensation patients, located primarily throughout Southern California. At times the collection on these receivables can take in excess of one year, during which the Company, at times, attends legal hearings, files liens to securitize claims, negotiates before worker’s compensation administrative judges, resolves liens with stipulations and orders for defendants to pay, and transmits demands to settle liens filed with the adjuster or defense attorneys.

Paws currently needs factoring to support day to day cash needs. The only real answer is conventional financing; as noted in the SEC filing.