This is a huge misstatement. Somebody does not know the company very well. Still looking?
Progressive Care, Inc. Forward-Looking Analysis 8/11/2017
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There is much competition for Progressive Care. Inc. to fight against in the over-the-counter market as well as the at home medical care market. The biggest of these competitors are Walgreens and Rite Aid as they are a permanent national healthcare establishment. Progressive Care to counter is getting the licensing to do business in all 48 states of America. The global market for over-the-counter (OTC) drugs are valued at $133.25 Billion and is expected to climb up to $220 Billion by 2021.
Looking at Progressive Cares’ income statement (1st Quarter of 2017), the net sales were at $4,847,663. The costs of sales were at $3,268,703 leaving us with a gross profit of $1,578,960. The gross profit is ~32.57% of the revenue gained by the cost of sales being ~67.43% of revenue. Progressive Care also accumulated $1,402,247 in expenses from selling, general, and administrative expenses. This mixed with other income (expenses) leaves up with the net income (profit) of $163,664. The profit is achieved with a thin margin of 3.376% being left from the net sales.
$4,847,663 ($3,268,703) ~67.43% in Cost of sales ($1,402,247) ~28.93% in Admin Expenses ($13,049) Other Expenses $163,664 Net Profit ~3.376% of left over revenue
Progressive Cares’ balance sheet statement (1st Quarter of 2017) shows that Progressive Care had $788,179 in on-hand cash. Total current assets for the company are at $2,581,113. RXMD has $1,995,156 in total current liabilities, $111,390 in long-term liabilities, and $2,106,546 in total liabilities. Total Liabilities for Shareholders is currently at $2,581,113.
