Progressive Care Inc (fka RXMD)

[DCorleone]

On July 11, 2014, the board of directors approved the issuance of 51 shares of the Company’s Series A Preferred Stock
to a certain employee of the Company, which is equal to 50.99% of the total voting power of all issued and
outstanding voting capital of the Company in satisfaction of $20,000 in past due debt. These issued shares of
preferred stock are outstanding as of December 31, 2016 and 2015. As of December 31, 2016 and 2015, the individual
is employed by the Company.