Praxsyn Corp (PXYN)

[Drugdoctor]

That's exactly what they said in the 10Q they are doing, lmao....re"get rid of the Factoring"

Once again..I quote directly from last weeks SEC filing... If you need some help understanding any of this, I will be glad to explain it.


The cost of factoring, which we record as interest expense, can be quite high – anywhere from 70% to 75% of the recorded accounts receivable.
These two influences have had a material impact on our operating results, but also offer a major opportunity for profit growth as we move forward. We have recently formed a subsidiary named NexGen Med Solutions, LLC, which will allow us to greatly expand our accounts receivables collection effort. We believe this will allow us to improve our collections, increase the net realizable value of our gross billing revenues, and reduce our dependency on factoring.