Praxsyn Corp (PXYN)

[OhManIDied]

The company is going net profitable on all prescriptions filled starting in September.

Net Loss

During the three months ended June 30, 2014 and 2013, the Company incurred a net loss of $780,924, and $197,164, respectively. The decrease in net income of $583,760 for the three months ending June 30, 2014 was primarily due to stock-based compensation of $4,997,268 compared to $0 for the comparable prior period.

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TPS logged $21M of revenue during the first month of the third quarter. By the last week of the third month for the second quarter, this number was ~$54M. The revenue growth is ongoing.

This accounts for half of the remaining 42K shares that they had yet to earn at the end of the second quarter. The revenues obtained during the final month of the third quarter (September), which is likely to contain the highest revenue, will be absent of the series D issuance costs.


Quote:
At June 30, 2014, 123,832 shares had been earned by, and issued to, TPS leaving 42,832 shares remaining to be issued. Additionally, in accordance with the APMA, certain of our convertible promissory notes were exchanged for new convertible promissory note, convertible into shares of Series D Preferred Stock at the rate of one (1) share of Series D Preferred Stock for each One Hundred Dollars ($100.00) of unpaid principal and interest. The APMA closed on March 31, 2014 (the “Acquisition Date”).

PAWS


Quote:
As of July 30, 2014, an additional 21,062 Series D shares have been issued to TPS since June 30, 2014 from the remaining number of shares reserved as discussed in Note 5.