Replies to post #25139 on Praxsyn Corp (PXYN)

[DartmouthDan]

Voluntary filers-- Just in from the SEC
Corporation Finance is asking voluntary filers to state as follows on the cover page of all their filings-- and I quote:

Any periodic reports, such as the Form 8-K you filed on ________, 2015, are not filed pursuant to the reporting obligations under Section 12 or Section 15(d) of the Exchange Act. As such, the cover page of filings should include prominent disclosure informing investors that the filings are submitted on a voluntary basis and may not conform to the requirements of the form.

[Rhenarium]

It should be pointed out that WC receivables are not actually REQUIRED to be sold for $.20 on the dollar. PXYN sold its WC receivables for $0.20 on the dollar because of a lack of cash.

PXYN says that 46% of gross WC billings could eventually be collected. If they had cash and didn't have to factor, that would leave 28.5% of gross WC billings for PXYN after paying 17.5% to TPS.

Which would be a lot more left over than they'll have left over after NHS gets 64% of NET REVENUE.

It's "better" to buy a carton of 10 packs of cigarettes for $35 than to buy individual packs of cigarettes for $5.00. The fact that you don't have $35 doesn't make buying individual packs at $5.00 a better deal.