Progressive Care Inc (RXMD)

[Jimmy Quick]

I addressed this earlier today. The only reason we are seeing a mild stall now, is because we have a seller here (VNDM) today clearing the last of shares they received for a line of credit loan over a year ago of $280k. This was established way back when as a $2 million line of credit for potential M&A, and the initial distribution of cash of $250 with $30k interest was used for building expansion and robot dispenser.

The first payout to them was for $130K which was in cash payouts of $100k and $30k in shares, and we know 100% of these 3.3 million shares delivered have already been bought on the market.

The remaining debt was $150k. So this remaing $150k was recently paid by company, we assume partial in cash and partial in shares, but don't know yet. This elimated absolutely all debt. It was companys hope to pay these in all cash as noted in conference calls, but lender had option for conversion, because our cash flow is around $750k, it would have been no problem for them, and that's why the $100k in cash for the first payout. From our calculations the max shares that could have been issued is 17.4 million. We know without a doubt that a little over 7 million shares have already been sold on the market. So what's left, is 10 million or less. So this let's new and old investors alike accumulate here, until VNDM moves up and we eliminate those shares and continue our steady climb. That's why selling here is not the answer or a good idea because we continue to rise to actual valuation once VNDM is done and we aren't far off, not to mention they are patiently waiting on the ask for shares.