Progressive Care Inc (RXMD): From $2M Convertible Note Financing Agre...

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Progressive Care Inc (RXMD)

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Re: JohnCM post# 46889

Monday, 08/01/2016 5:38:58 PM

Monday, August 01, 2016 5:38:58 PM

From $2M Convertible Note Financing Agreement..

.."The Note is convertible in 1 year at the lesser of Market Price or $0.05 on the date of conversion."

This direct statement from the note with Chicago Venture Partners, LP GUARANTEES that the purchase price in 1 year from July 22, 2016 WILL BE LESS THAN $0.05.

What makes this note TOXIC is reliance of the lesser price and not number of shares to convert. Therefore the stock WILL BE SHORTED BY THIS INVESTOR in order to gain more shares on conversion.

Investments = Daytrades gone bad

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