Replies to post #3549 on Progressive Care Inc (fka RXMD)

[CELTICAPPLE]

Great article. I really like the point that RXMD is in an elite group of BB's that are doing over 10 mm in annual sales. It might take time, but eventually this puppy will be over 20 cents in my incredibly humble opinion.

[OhManIDied]

That's a really well written article which provides a ton of encouraging facts for prospective and current investors. Thanks for posting it here.

Reading it actually revamped my confidence, reminding me why I bought this and the fact that the recent share-price appreciation is only the beginning for this gem. There are so many awesome aspects of RXMD, including their charitable food drives, which make this a no-brainer even at the current, extremely undervalued but relatively "high" recent price of only 0.05.

RXMD

Article below for future preservation:
http://www.microcapdaily.com/progressive-care-inc-otcmktsrxmd-making-moves/18524/

Progressive Care Inc (OTCMKTS:RXMD) continues to move up on accelerating volume recently hitting $0.05 a share after breaking out over a penny from sub penny land.

In recent news the Company announced a new medication monitoring and health safety program with Health Care of South Florida. The program is a vital step in managing the health and wellness of patients with chronic illnesses.

Health Care of South Florida is a home health care agency whose licensed nurses are trained to assess health care risks within the patient’s home. Through the collaboration and communication with the patient and his or her primary care physician, a licensed nurse from the program will conduct a comprehensive review of the patient’s health situation including medical records, medications and whether there are injury risks in the home based on the patient’s condition.

Progressive Care Inc (OTCMKTS:RXMD) operates through its subsidiary PharmCo, LLC as a brick and mortar South Florida provider of prescription pharmaceuticals. The Company specializes in health practice risk management, the sale of anti-retroviral medications and related medication therapy management, the sale and rental of durable medical equipment (“DME”) and the supply of prescription medications to long term care facilities.

RXMD has been doing some EPIC revenues reporting $8,318,422 in sales for the 9 months ended September 30, 2014 up from $6,634,317 for the same period last year. These kind of numbers put RXMD Into a small elite group of bb’s that are doing over $10 mm in annual sales.

The Company said on January 5 that December 2014 sales increased by approximately 35% over December 2013. Over 14,000 prescriptions were filled in the month, of which over 40% were new. This represents the 6th month in 2014 that PharmCo achieved record setting sales results.

The Elephant in the room on RXMD had been their inability to get their filings completed which resulted the stock going from fully reporting OTCBB to Pink Sheets with the yield designation from OTCMarkets. This along with debt holders converting their paper resulted in a seriously depressed stock price.

RXMD said in a letter to shareholders on December 29 ”In September, we took a great leap forward in this regard by filing our unaudited year-end financial statements for 2012 and 2013 through OTCMarkets. These financial statements were then quickly followed up by the filing of our unaudited financial statements for all three quarters of 2014 on November 22nd. The filings not only presented the company’s current financial position to the public, but also presented the great strides the company has made towards achieving profitability by reducing operating costs and liabilities and increasing sales.

The Company did not say if they are seeking full OTCBB listing and will remain fully reporting or if they will continue to report but continue to trade on the pinks. In any case I imagine they are working hard to get the yield designation removed.

RXMD also addressed the debt issue ”’In August, we reached our first major accomplishment of the year. After months of negotiation and hard work, the company finalized our debt exchange transaction with Tarpon Bay Partners, LLC. Through the execution of the deal with Tarpon Bay and approval by the Circuit Court for the 3(a)(10) transaction to proceed, the company will be able to eliminate approximately $1.8 million in debt off of its balance sheet in the coming year. This transaction allowed the company to settle its litigations with creditors and note holders and has significantly improved our cash flow.

RXMD covered a lot more in their letter to shareholders on December 29, key highlights were ”agreement and court approval to execute a 3(a)(10) transaction through Tarpon Bay Partners, LLC to eliminate $1.8 million in debt in the coming year.-Filed unaudited financial statements with OTCMarkets through the most recent completed quarter.-Restructured management, aggressively cut costs and began a hiring program to recruit talent and meet growing demand and renovated their PhamCo facility.-Increased filled prescription counts by approx. 50% from 8,500 scripts per month to almost 13,000 and Increased pharmacy sales by 35% to $8.1 million through September 30, 2014

RXMD finished off the letter by saying ”As we enter into 2015, we will look to take advantage of our marketing efforts with doctors’ offices, clinics, and hospitals, as well as seek licensures in additional states in order to begin positioning PharmCo as a national brand. We will develop our new non-sterile compounding department which carries much higher gross margins than standard pharmaceuticals. We will also seek to expand our charitable presence in the community which currently includes weekly deliveries of food and necessary services to the local food bank and the less fortunate.”

Currently trading at a market valuation of just $547,000 according to OTCMarkets RXMD has been severally undervalued in recent months due to the filing issue as well as large blocks of new stock coming into the market as a result of the debt conversions.

Now that management has addressed these issues and seems to be aggressively moving forward the stars may be aligned for RXMD; after all this is a Company on track to top $10 million in annual revenues and the street is starting to notice as evidenced as the fast growing shareholder base currently accumulating. RXMD is a stock to watch.

RXMD

[burdbasket]

EBW, can this article be stickied? It should be.