Replies to post #41984 on Praxsyn Corp (PXYN)

[Drugdoctor]

Of course, you forgot the rest of the story... so here it is...

As of June 30, 2015, our principal source of liquidity is from collections from our pre-approved accounts receivable which result from the sale of our prescription products. During the six months ended June 30, 2015, we received proceeds of approximately $3.1 million from factoring, collected slightly less than $2 million in non-preapproved receivables, and collected in excess of $18 million against pre-approved receivables. At June 30, 2015 we had cash in excess of $4.8 million and a working capital deficit of $6.5 million. This compares to the cash of $1.2 million and a working capital deficit of nearly $3.3 million as of December 31, 2014. The large change in working capital from December 31, 2014 is the result of a larger portion our non-preapproved receivables being classified as long-term due to the lack of factoring during the second quarter and also an addition of $3 million in current income taxes payable.

So actually, the WORKING CAPITAL DEFICIT is part of this!

Accounts-receivable,-net-of-current-portion- $11,510,012

MONEY IN THE BANK!!!

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