Home > Boards > US OTC > Medical - Healthcare > Progressive Care, Inc. (RXMD)

Connecting all the dots...

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (36) | Next 10 | Previous | Next
stockforce Member Profile
Member Level 
Followed By 92
Posts 3,333
Boards Moderated 1
Alias Born 11/05/14
160x600 placeholder
Progressive Care Commences COVID-19 Vaccinations InvestorsHub NewsWire - 4/22/2021 7:07:26 AM
Progressive Care Achieves Record COVID-19 Testing Revenues InvestorsHub NewsWire - 4/5/2021 7:10:21 AM
Progressive Care Announces 2020 Annual and Quarterly Financial and Operational Performance Highlights InvestorsHub NewsWire - 4/1/2021 8:07:21 AM
Progressive Care Announces Annual Audited 2020 Report Earnings Call and Business Update on April 1st, 2021 InvestorsHub NewsWire - 3/29/2021 7:43:23 AM
Progressive Care CEO Issues Annual Shareholder Letter InvestorsHub NewsWire - 3/3/2021 7:24:02 AM
Progressive Care Transitions to New Software Platform, Allowing Integration of Data Analytics Business InvestorsHub NewsWire - 2/24/2021 7:29:58 AM
PAOG - PAO Group, Inc. Positions To Accelerate Growth; Investor Interest Pushes Shares 328% Higher YTD InvestorsHub NewsWire - 2/23/2021 10:21:27 AM
Nightfood, Inc. (OTCQB: NGTF) Picked up by Walmart (NYSE: WMT) InvestorsHub NewsWire - 2/23/2021 6:27:15 AM
RXMD Announces Telehealth Partnership With EagleForce Health to Drive myVax Digital Passport for COVID-19 InvestorsHub NewsWire - 2/16/2021 8:23:09 AM
Progressive Care Announces Record December and Full Year 2020 Performance Data InvestorsHub NewsWire - 2/8/2021 7:16:58 AM
Progressive Care Announces November 2020 Results, Reports Strong Prescriptions and Covid-19 Rapid Testing Sales InvestorsHub NewsWire - 1/8/2021 7:10:41 AM
Progressive Care Completes Move to New Facility, Begins Expansion Into Long-Term Care Pharmacy Market InvestorsHub NewsWire - 12/23/2020 7:33:39 AM
Progressive Care, Inc. Announces Results of Special Meeting InvestorsHub NewsWire - 12/17/2020 7:21:19 AM
Progressive Care Announces October Growth in Net Revenues as COVID-19 Testing Ramps Up InvestorsHub NewsWire - 12/7/2020 7:15:37 AM
Progressive Care Leadership Announces Shareholder Conference Call and Business Update on December 7th, 2020 InvestorsHub NewsWire - 12/3/2020 8:10:16 AM
TNS Comprehensive Research on The Hottest OTC Stocks InvestorsHub NewsWire - 11/30/2020 8:35:00 AM
Progressive Care Reports Positive Q3 EBITDA and Increased Margins InvestorsHub NewsWire - 11/17/2020 7:14:12 AM
Progressive Care Announces Nine Month Sales of $30.2 Million, Increase of 31% and Updates September Performance InvestorsHub NewsWire - 11/5/2020 7:33:58 AM
Progressive Care Announces New Partnership With MyApps, Discontinues Plans to Acquire the Company InvestorsHub NewsWire - 10/29/2020 1:56:31 PM
Progressive Care Announces Permanent Chief Executive Officer and New Chief Financial Officer InvestorsHub NewsWire - 10/26/2020 6:29:25 AM
Progressive Care to Expand 340B Third Party Administrator Services Nationwide InvestorsHub NewsWire - 10/22/2020 7:24:57 AM
Progressive Care Expands COVID-19 Testing With 15 Minute Antigen Rapid Tests InvestorsHub NewsWire - 10/8/2020 7:27:05 AM
Progressive Care Reports August 2020 Performance Data InvestorsHub NewsWire - 10/2/2020 7:28:03 AM
Progressive Care Partners with DeliverSTAT to Support and Expand Rapidly Growing Prescription Delivery Service InvestorsHub NewsWire - 9/22/2020 8:34:19 AM
Progressive Care Issues Corporate Update InvestorsHub NewsWire - 9/16/2020 8:15:04 AM
stockforce Member Level  Thursday, 06/25/20 06:20:58 PM
Re: Koopa Troopa post# 140787
Post # of 166249 
Connecting all the dots...

First, let's agree there is a major activity going on with the S-1 filing right now. See my post on Mars' most recent interview regarding the S-1 status.



Quotes from Ms. Mars in the interview:

"They (Banking consultants) really advised us that given that our vision is much larger than just registration with the SEC (uplisting to the Nasdaq), and then we really want to begin the process of creating our own technology platform (tele-pharmacy? online transaction and payment systems?), synthesizing our expertise (combining our expertise) in the code."

"That means a whole lot of more work for me, whole lot of more work for my staff to begin to take what could have been an 80-page document and turn it into a 180-page document (Basically more than double the size of Progressive Care)."

"I just finished a trip to Orlando to really solidify all the plans and all the business perspective ideas for the S-1. Now we are putting all that into the document. (Signed the partnership /merger agreement)"

“If we tried to rush the process, then we missed out on an opportunity that has presented itself in the last couple of months (the target company has been seeking help on partnership from banking consultants in the last couple of months)”

“We really had this rare moment (merging with the target company) to take advantage of our bold ideas (uplisting to the Nasdaq) and that’s where we want to go (we will merge/reverse merge with the target company).”

Second, it was a group of banking consultants that proposed the “rare” opportunity to Progressive Care, not Progressive Care actively searching for such partnership in the first place before they started the S-1 draft. The other company obviously has been working with the consultants trying to get listed on an exchange. So, they must have very significant revenue and is also fully audited to meet the basic SEC requirements for listing. Otherwise, Ms. Mars will not be able to sign agreement and then file S-1 so quickly. I would also logically assume this company wants to be listed under their own ticker symbol.

Third, if Progressive has signed an agreement with them, why there’s still no news from them? This actually indicates this transaction was not just a simple acquisition by Progressive Care. It might have something to do with the other company’s current situation related to merge/reverse merge or ownership transition.

Fourth, Progressive recently announced they chose Daszkal Bolton LLP as their new auditing firm for SEC registration.


Do you know Daszkal Bolton LLP is also Progressive Care’s independent director, Oleg Firer’s Nasdaq company, Net Element’s auditing firm since 2015? See my post on this:


See Page F-2 in Net Element's (NETE) most recent 10K :
"Daszkal Bolton LLP
We have served as the Company’s auditor since 2015.
Fort Lauderdale, Florida
March 30, 2020"

Fifth, Net Element Announced Reverse Merger with Mullen Technologies, Maker of Electric Vehicles, on June 16, 2020

The survivor company will be named Mullen Technologies, the ticker will be changed, and the current Net Element’s payment processing business is to be sold. The management of the remaining company will be from Mullen but Oleg Firer, CEO of Net Element, would remain on the board.

Sixth, Net Element (NASDAQ: NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services.


The company owns and operates a global mobile payments and transactional processing provider, TOT Group, Inc. ("TOT Group"). TOT Group companies include Unified Payments, Ranked as One of The Fastest Growing Companies in North America on Deloitte’s 2018 Technology Fast 500™, Aptito, a next generation cloud-based point of sale payments platform and Payonline, fully-integrated, processor agnostic electronic commerce platform.

According to their PR, TOT Group is being sold due to Net Element’s reverse merger with Mullen Technologies. Currently, NETE is trading at $7.39, almost 100% higher than before announcing the reverse merger.

Net Element’s headquarters is in North Miami Beach, the same city as PharmCo. Their CEO, Oleg Firer, is Progressive Care’s independent director.


Seventh, Net Element had decided to sell their cloud-based point of sale payments platform business before announcing their reverse merger with Mullen Technologies, most likely since April of this year. According to Nasdaq financials data:


their 2019 revenue is $65M with a gross profit of $10M.

For a growing company like this size that has been listed on Nasdaq, do you think they want to be delisted forever? The easiest way for them to get back on the Nasdaq is to reverse merge with another publicly traded company. That’s why they went to the banking consultants seeking such potential partners.

Eighth, Progressive Care has been labeling itself as “a personalized healthcare services and technology company”. They have been working on tele-pharmacy platforms for years, and recently, started online pharmacy business. Net Element, through its TOT Group, has been very successful developing online transaction plat forms for various business, including restaurants, stores etc. They absolutely have the technologies and capabilities to help develop platforms for online pharmacy transactions. It’s a good match for each other’s business growth needs.

At the end of the day, Oleg Firer wanted to sell Net Element's business and relist it back on Nasdaq through reverse merger with a company than can help each other grow. He wanted to close the deal as soon as possible before the reverse merger with Mullen Technologies. Progressive Care is currently in the process of filing S-1 and is getting ready to join the Nasdaq. What do you think they will do? Net Element is already a Nasdaq company and is fully audited, by the SAME auditing company that Progressive Care just chose very recently for the S-1 filing. All that Progressive Care needs to do is to complete the paperwork (from 80 pages to 180 pages as Mars said). The newly combined company will have over $100M total revenue with at least $10M profit. Both companies are in the SAME town, Oleg Firer is the independent director at Progressive Care, and their business models compensate for each other’s growth needs.

Am I missing something?

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (36) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences