Praxsyn Corp (PXYN)

[cdhames]

Not unsurprising that the company remains silent. On the subject of the loss of TPS; IMO I suspect they're still in negotiations. The 8K filed on 27 Jan says exactly that. Current expectation should carry forward, until they rescind or alter it, or publish another 8K explaining it's collapse (remember this is Q1, not reflective of prior year 10K events).

Again, Garbino gave back shares in mid-Dec; they sent the letter of intent to not exercise the option on 22 Jan, and published this in an 8K on 27 Jan (with the "in negotations" statement). Exactly 30 days later they publish another 8K notifying us that Garbino has resigned from BoD, (making it a point to address the OCI and fiduciary duties as a board member) but no mention of negotiations, whether they are still ongoing or have stalled.

So... IMO if negotiations have ceased, they need to publish an 8K letting us know expectations have changed. IMO a collapse in negotiations with TPS as their historically sole source of revenue is a material event. Otherwise, we should continue assuming they're still working out a new deal.