Praxsyn Corp (PXYN)

[Lighthouse]

Take off the one time equity issuances and the net loss is pretty much wiped out. This is based on $20 million gross billings for Q1, and we know that number is over $54 million for Q2. I expect a positive net income for Q2. Hopefully they are done with the equity issuances that mostly had to do with the merger. This first Q seemed to me to be a lot of cleanup. Hoping Q2 is down to business.

"During the three months ended March 31, 2014 and 2013, the Company incurred a net loss of $12,012,400, and generated net income of $348,738, respectively. The decrease in net income of $12,361,138 for the period ending March 31, 2014 was primarily due to stock-based compensation of $3,903,299, losses due to modification of warrants of $7,111,444, and losses on extinguishment of debt of $100,000 related to a debt-equity conversion. Total expenses related to equity issuances and conversion were $11,214,703 compared to $0 for the three months ended March 31st, 2014 and March 31, 2013, respectively."