Because Midam is an AFFILIATE of the company, and because the 20MM shares are RESTRICTED shares subject to Rule 144, they have to hold those shares for 1 year from the date of issuance (Progressive Care, Inc. was non-reporting to the SEC at the time of issuance - see link to Rule 144 guide from the SEC below).
After the 1 year period, the shares are eligible to have the RESTRICTED legend removed. Even then, Midam is limited to selling no more than 1% of the O/S during any 3-month period. With the current O/S, that is about 3MM shares in a 3-month period.
So Midam will have 10MM shares becoming eligible for removing the restricted legend in July of this year, of which they can sell a limited portion over 3-month periods. And they will have another 10MM shares becoming eligible in November of this year.
IMO, when these shares become available for selling on the open market - if/when Midam sells any - it will be barely noticeable. However, to Midam - as with all shareholders - the value will be quite nice with a pps ranging from 0.10+ to possibly well over 0.30.
News 
Market Data 
Discover 
AI
