PXYN - News out which is under the radar right now. News is huge for company.
PXYN is a compounding Pharmacy catering to workman's comp. Their primary product is a topical alternative to addictive pain killers.
PXYN is the result of a recent merger. They just did a name & Ticker Change.
Mesa Pharmacy has been in business for years. They went public through the merger.
The company, in its present form, is yet to be profitable. Q1 was terrible. Q2 showed improvement. And investors are hoping to see the company turn a profit in Q3. It may be small, but profit is profit.
Profits have been held back by two main reasons.
One is a deduction for stock based compensation given to it's most important business partner. TPS brings in almost all of the sales the company makes. That compensation was earned on a performance basis according to sales. Estimates say that the allotment of shares should have been awarded sometime during Q3. Estimates say that without the deduction the company would be profitable.
The second reason the company has had difficulty showing a profit is because of factoring. The company sells its receivables for cash. I guess one reason is the nature of doing business with workman's comp. Payments can take a while.
The news is that the company is going to be doing in house billing. I don't have any real details to offer yet.
I, perhaps impulsively, almost doubled my position on the news.
Check company website & or PXYN forum here on ihub for news. I think member dshade posted it.
Sorry I couldn't post links.
I'm on a mobile.
Day job...
And nights too...
OTR Truck Driver
Hitchens' razor
What can be asserted without evidence can be dismissed without evidence
