2018 and 2019 growth
Expenses contributing to losses:
R&D spent on development of a new Tele-Pharmacy Platform.
Development of a new medication adherence app.
Purchase of 2 pieces of PillPack-like dispensing equipment.
Purchase of a new location in Palm Beach County that is already paid off.
Bonus share distribution.
Growth comes with momentary losses, I don't expect them to be profitable in 2019 yet either as they continue to grow, acquiring 3 new locations, and doubling the amount of revenue from over $20 million net in FY 2018 to well over $40 million net in FY 2019. But I could be wrong when CBD is introduced. Key is that funds are being used to grow the business, so some temporary losses can be anticipated. That's not the prime objective right now, growing the business and cornering market share to obtain eventual significant profits is the company's objective.
ProgressiveCare could have sat idle with one location generating $20 million plus in revenues a year with profits, but that's not what they are focusing on. Aggressive expansion and growth through mergers and acquisitions. I as a shareholder am very thankful for that, otherwise what longterm growth would there be.
"To Give Anything Less Than Your Best, Is To Sacrifice the Gift." - Steve Prefontaine
Selling shares at $.019 prior to run to $.26 would have been my biggest failure. Glad it wasn't me!! ;-)
AI
