Progressive Care Inc (RXMD)

[MrMike241]

The following quotes from the S-1 are interesting. There is a major insider incentive to uplist. Insiders will collectively get:
1.  41,200,000 in stock options to purchase, and
2.  Up to 35,000,000 in restricted stock uplist units, split between Jay, Armen, and Mrs. Norkute. I am not clear if these are an option to purchase or a gift.

With that incentive, I will be very surprised if they aren't painfully aware of the current situation. They're acting cocky, like they have a plan. Hmmm.

I know this also raises eyebrows. It's extracted from pages 71 and 72.

otcmarkets.com/filing/html?id=15745051&guid=OwnwknhtpA90h3h

Mr. Karapetyan will receive options to purchase up to fourteen million one hundred thousand (14,100,000) shares upon a qualified offering pursuant to the provisions of an option agreement and up to fifteen million (15,000,000) restricted stock units pursuant to the provisions of a restricted stock unit agreement. Should the current offering be completed, it will be considered a qualified offering pursuant to the terms of the agreement.

Mr. Weisberg will receive options to purchase up to fourteen million one hundred thousand (14,100,000) shares upon a qualified offering pursuant to the provisions of an option agreement and up to fifteen million (15,000,000) restricted stock units pursuant to the provisions of a restricted stock unit agreement. Should the current offering be completed, it will be considered a qualified offering pursuant to the terms of the employment agreement

Ms. Munnik will receive options to purchase up to five million (5,000,000) shares upon a qualified offering pursuant to the provisions of an option agreement and is eligible for a cash incentive bonus in an amount to be approved by the board. Should the current offering be completed, it will be considered a qualified offering pursuant to the terms of the employment agreement.

Mrs. Norkute will receive options to purchase up to five million (5,000,000) shares upon a qualified offering pursuant to the provisions of an option agreement and up to five million (5,000,000) restricted stock units pursuant to the provisions of a restricted stock unit agreement. Should the current offering be completed, it will be considered a qualified offering pursuant to the terms of the agreement.

Mr. Rangel will receive options to purchase up to three million (3,000,000) shares upon a qualified offering pursuant to the provisions of an option agreement and is eligible for a cash incentive bonus in an amount to be approved by the board. Should the current offering be completed, it will be considered a qualified offering pursuant to the terms of the agreement. 


Go RXMD!