Progressive Care Inc (RXMD)

[Jagman5]

Wrong meaning of Goodwill in this case. Read through JS post 193817 again. The accountants test Goodwill once per year. The two reporting units within Progressive Care are TPA and Core Pharma (filling prescriptions). They look at the current value of each unit compared to what they have on the books. At this year's test Pharma didn't measure up so was charged off as Goodwill to adjust. The total business is not worth as much as what they had on the books a year ago.

And before anyone tries to blame Management, this is more about the US economy and changing buying patterns. Many other small pharmacies have not fared as well.

$RXMD