Progressive Care Inc (RXMD)

[MoneyForNuthin]

Thank you for pointing that out. Also note, Mars was very explicit in her statement last year about this - specifically, that supervoting preferreds shares DON'T COUNT if it ever comes to shareholders to vote on a reverse split.

So where you point out "Common Shareholders must approve," it does seem very clear that, indeed, Common Shareholders MUST approve... or it will not pass. So... the power is in our hands. And Armen & Co will convince us of this (either through recent actions and PRs re S1/uplist or) tomorrow in the conference call, if "we" as a collective majority of common shareholders are not already convinced to vote FOR the measure.

I don't know about you, but I'm feeling pretty damn good about my millions of votes/shares right now. Looking forward to the call tomorrow.

Here's a transcription from that conference call where Shital Mars clearly stated this:

13:30
Another thing that gets asked a lot, is our thoughts on a reverse ...Our feelings on a reverse have not changed.

It is not up to us in this room - our boardmembers and executive staff - to decide that a reverse is necessary and we're doing it.

It is UP to the shareholders to say that this is the appropriate time for it, and for them to vote for it.

In the case of a reverse, the supervoting preferred will NOT COUNT. It will be up to common shareholders ONLY, to approve that measure.

It will be up to common shareholders ONLY to approve that measure.

It is not up to me to be FOR it, or AGAINST it. If it is determined to be necessary, we hope that it will be up to the SHAREHOLDERS to decide that it is necessary.

We anticipate that if that were ever the case, it will be for an uplist, and it's a one-time only deal. And the shareholders will come to us and say" 'It's time; We're ready, we're ready to uplist; We've got the board in place, We've got the stock's compliance in place and this is the last piece.'

But WE are not here to promote it, WE are not here to say 'We're doing it.' WE need to leave the speculation of a reverse off the table; because it's not going to come from US, saying we're doing it, it's going to come from the company being ready, it's going to come from the shareholders, and that's it."

https://www.smallcapvoice.com/progressive-care-conference-call-for-q3-2019-rxmd/