After reading the tea leaves of the previous quarterly report, I think 2 upcoming catalysts will push this stock skyward:
1. Force Caremed's Hand (Seek legal actions)
Note 10 Commitments and Contingencies Legal Matters The Company and various unaffiliated entities executed an agreement dated January 2, 2015, under which the Company would own 49% of the member interest in Caremed, LLC, a licensed pharmacy, and the unaffiliated entities would own 49% of the Company’s subsidiary, Pharmco, LLC. It was understood that Pharmco personnel would become the principal managers of both Pharmco and Caremed. The agreement also provided, among other things that the parties would work together towards the creation of a new operating agreements for the two LLCs, and, by the end of January 2015 the parties had arrived at a mutual understanding of the terms of the operating agreements, subject to preparation of amended operating agreements by Caremed’s counsel. On February 2, 2015, Caremed’s counsel informed the Company ?18 ? ?that it had been instructed by Caremed’s management to cease working on the amended operating agreements. Since that time, the parties to the agreement have been communicating through counsel to determine an appropriate course of action for both sides. Caremed has taken the position that the January 2, 2015 agreement was not a binding contract and that, in any event, the finances of Caremed have deteriorated to such an extent that it is appropriate to unwind the transaction. The Company vigorously disputes that the January 2, 2015 agreement was not a binding contract, but has expressed a willingness to unwind the transaction as long as Caremed provides to the Company certain documents related to Caremed’s operations and finances so that the Company can properly evaluate the claim that Caremed’s finances have severely deteriorated. Caremed has provided limited documentation to the Company, which, while incomplete, the Company believes tend not to support that claim. No resolution of this controversy has been reached and the Company has not determined what actions, if any, to take. The Company will continue to analyze the facts and consult with counsel, and, as soon as a decision is made, the Company will make appropriate disclosure by a press release and filing on Form 8- K.
#2. Use profits to fund opening of the underutilized store. They currently run a free testing program, funded by the Florida State Dept.
We also lease another 3,100 square feet of retail and pharmacy space in Opa-locka, FL for approximately $5,200 per month; this lease expires in November 2016. On June 5, 2014, PharmCo 780, Inc. withdrew its application for a DEA license. PharmCo 780 is considering filing a new application for licensure on 2015 for reconsideration. The Opa-locka, FL location is currently being used to provide free HIV/STD screenings to the general public.
(Incidentally, the address of this facility is 780 FISHERMAN ST # 103 .)
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