Replies to post #59436 on Progressive Care Inc (RXMD)

[Wangenstein]

So, let me see if I understand your post: Midam didn't illegally dump their shares, but if it was illegal, it was only 1 million shares? LOL! Well, fortunately for RXMD's shareholders, the law doesn't take such a blase attitude towards illegal behavior. Unfortunately for Midam, they did a lot more than that...

Warning: Here be facts!

Midam is contractually barred from selling more than 50,000 shares of Progressive common stock per day. On account of Midam's breaches of contract, Progressive has filed a civil action against Midam for breach of contract, seeking damages and a temporary injunction against further sales in excess of Midam's contractual limitations.

In connection with Midam's engagement as Progressive's IR consultant, Progressive issued Midam shares 20,000,000 shares in 2015 and 3,000,000 shares in October 2016. Under federal law, these shares were restricted from open-market sales for 1 year from issuance. As of February 8, 2017, Midam held 10,000,000 unsold shares from the 2015 issuance, which were no longer subject to the 1-year sales restriction. The 3,000,000 shares are still restricted.

The October 2016 written agreement between Midam and Progressive forbids Midam from selling more than 50,000 Progressive shares per day. That contractual prohibition applies to of all shares issued to Midam, including the shares issued to Midam in 2015.

Thus, Midam's sale of 1,000,000 shares on February 13, 2017, and any sales the prior week in excess of 50,000 per day were barred covered by this contractual limitation.

So, if Midam illegally dumped their tens of millions of shares (and they did), and in so doing set off a wave of selling from nervous stockholders, then not only does the current share price have nothing to do with RXMD's amazing fundamentals (such as the fact that they're on-track to meet or exceed their $22 million revenue goal for 2017), but they will hopefully also be made to repurchase those shares and carry out their contractual obligation to sell no more than 50,000 per day.

RXMD continues to be a bargain, and will likely remain so until their move to OTCQB brings in a new pool of long-term investors. (And that's without any M&A news, too.) OTCQB will bring new all-time share price highs, and we'll never see RXMD prices this low again.

RXMD! :)

[Spider Web]

FACTS ARE JUST LIKE REALITY

YOU JUST NEVER KNOW
WHAT YOU'RE GONNA GET


On June 15th, 2015: MIDAM was paid 20M Shrs, plus $60K in Cash. But MIDAM had to wait 1 Year before selling any of those particular Shrs.

So one year later, MIDAM could have started selling those Shrs on June 16th, 2016. And at that time there were no apparent Restrictions as to how many Shrs they could have sold, or when to even sell them. That was all up to MIDAM.

Then on October 26th, 2016: The Company entered into another Agreement with MIDAM, which paid them $90K in Cash and 3M more Shrs. Also in this New Agreement, was that any further selling of ANY Shrs Going Forward were to be no more than 50K per T-Day.


What is interesting to note in this October Agreement, is an ERROR. The period of time for this Agreement says it is for: 6 Months. But then it is stated as: Commencing On Oct 1st, 2016 And Ending On Sept 30th, 2017. Which is 12 Months.

Well, Which Is It? This Error may therefore make The Entire Agreement Non-Binding. Which may lead to a Non-Retroactive Renegotiation Of Terms. Or a Cancellation Thereof, going forward.


It begins to make one wonder if the real reason behind this "New Agreement" was to actually pay MIDAM, in return for slowing down their selling of Shrs. Which would be a pretty stupid idea of basically "Bribing" someone... Unless of course, The Company was really worried about the PPS dropping below 1 Cent again. Which it will obviously do pretty soon anyway.

By Feb 8th, 2017: The Company claimed that MIDAM still held 10M Shrs. Which means they previously and Legally had sold most of the 10M of the 20M Shrs, since June 16th, 2016 .

But the funny thing is, that if you add up all the T-Days from June 16, 2016 thru Feb 8th, 2017 and then multiply by 50K Shrs... You would still almost get those 10M Shrs that were sold. So what's the difference?... Besides about a 1M Shr discrepancy ?

So to Imply that MADAM was Illegally Dumping ALL of their Shrs is Totally False. They were only Too Smart, by previously Selling about 10M of their Shrs Legally when they did. Before the Company attempted to control (Bribe?) their selling, in that New October Agreement.

MIDAM may have obviously sold more Shrs than they should have, back in February. But that is only a little over 1M Shs. This is hardly enough to be blamed for A Big Sell-Off .

Companies like MIDAM always make deals that involve Shrs, that are then to be sold. This is not new, unexpected, or unprecedented. And it is erroneously being used as a ScapeGoat to pin some blame on. Which Is Absolutely RIDICULOUS.

But what else would you expect from a Little Company Like This, and a Small Band Of Buried Pumpers that create Fake And Non-Factual Dialog.

This Blame Game is just another diversion from the True Failures Of The Company. The Company is in CONTRACTION: That Is A FACT. The Company is NOT on track for $22M in Yearly Revenues: That Is A FACT. They will NOT be Up-Graded any time soon: That Is A FACT. There will soon be Dilutive Equity Financing: That Is A FACT. There will be a Reverse-Split: That Is A FACT. People are trapped in this Stock: That Is A FACT. The PPS is heading down to a $0.005 Triple Bottom: That Is A FACT.


FACTS ARE JUST LIKE REALITY
BECAUSE THEY ARE NOT FAKE

AND YOU JUST NEVER KNOW
WHAT YOU'RE GONNA GET


Plummet Below 1 Cent

IT IS GUARANTEED !!!


JMO