Progressive Care Inc (RXMD)

[DCorleone]

Convertible Preferred
Holders of convertible preferred stock can exchange their shares for a specified number of newly minted common shares. Convertible preferred stock is dilutive since conversion increases the number of common shares, thereby reducing the ownership level and EPS of each. When financial analysts, investors or corporate managers evaluate a company’s performance, they take potential dilution of EPS into account. “Fully diluted EPS” assumes that all convertible securities -- convertible preferred, convertible bonds and warrants -- will be exercised, resulting in a flood of additional common shares. The potential for an increased supply of common shares drives down the stock price. Corporations can take various "anti-dilution" measures when issuing convertible securities to lessen the probability or impact of dilution.



Actually RXMD Armen...
Recent Developments
Exchange of Series A Preferred Stock
We have negotiated an exchange agreement with the Yelena Braslavskaya 2020 Gift Trust, the holder of all of our outstanding shares of Series A Preferred Stock to exchange all of the shares of Series A Preferred Stock into shares of our common stock. We expect to enter into an exchange agreement and complete the exchange simultaneously with the closing of this offering.