Progressive Care Inc (RXMD)

[Stcgg]

The post Mar-2016 shares have already been contracted for the cash and receivable on the convertible debt instrument, hence they are subject to GAAP conversion on a fully diluted basis at the last closing share price. On the books you have $250,000 cash received, $1,750,000 note receivable, $200,000 prepaid interest, $5,000 prepaid attorney fee and $2,205,000 convertible debt payable. The conversion is subject to reporting on a fully diluted basis according to GAAP.