Replies to post #98454 on Progressive Care Inc (fka RXMD)

[TheSerb]

Oh no....I don't think this is true...

[Wangenstein]

Funny, it used to be "$0.0001 GUARANTEED". Now it's up to 3 cents, which is itself well above where RXMD's share price spent the last few years. That's an increase of almost 3 million percent!

Good times ahead for RXMD! :D

[Jimmy Quick]

BUSINESS IS GOOD
Industry average was 60,000 scripts per location. Lol. RXMD is expected to exceed 280,000 this year with just the 1 location. That's over 450% greater than the industry average. They are churning out some major business especially when you consider scripts this year will increase by 50,000 alone, which is nearly equal to the industry average.

http://www.ncpa.co/pdf/digest/2016/2016-ncpa-digest-spon-cardinal.pdf

RXMD Gross Profit Margins are still above the previous years industry average for 1st Qtr with 22.9%. RXMD Gross Profit Margins for 2017 exceeded the industry average by nearly 5%. Seems like they are performing just fine considering all pharmacies and healthcare in general are undergoing the reimbursement pullbacks.
NEWSFLASH: 2ND LOCATION ACQUIRED JULY 1, 2018.

[Jimmy Quick]

$RXMD = GREAT INVESTMENT, 20 MILLION REVS
RXMD IS ON A COURSE FOR SUCCESS, ON OTCQB and NASDAQ

OUTLOOK FOR 2018: Completion of TWO REVENUE PRODUCING ACQUISTIONS (TouchPointRX Complete)
OUTLOOK FOR 2019: SEC Reporting Compliance, NASDAQ Uplist, and more ACQUISITIONS
ALL POINTS TO CONTINUED DEVELOPMENT AND GROWTH THROUGH EXPANSION ****INVEST WISELY****

WITH EXTREMELY LOW SHARE STRUCTURE
RXMD Security Details
Share Structure
Authorized Shares
500,000,000 07/17/2018
Outstanding Shares
428,997,097 07/17/2018 likely CV share disbursement increase, only 1.5 million more to go to clear this debt conversion. This balance also includes 5,590,432 common shares that were beneficially owned by Progressive Care through PharmCo, LLC and Progressive Training, Inc. So actual amount is 423,406,665 Outstanding on F/S
Previously 427,218,286 on 6/30/18
Restricted
83,599,982 07/17/2018
Unrestricted
345,397,115 07/17/2018
Float
334,506,590 03/31/2018

SHORT TERM PRICE TARGET $.35
https://finance.yahoo.com/news/seethruequity-issues-progressive-care-inc-131500911.html
http://www.seethruequity.com/wp-content/uploads/2018/03/RXMD-UPDATE-MAR-9-2018-FINAL.pdf
[/color]

***THE REAL DEAL***
TWO REAL BRICK AND MORTAR LOCATIONS SERVICING:
MIAMI DADE COUNTY, FLORIDA
MARTIN COUNTY, FLORIDA
PALM BEACH COUNTY, FLORIDA
BROWARD COUNTY, FLORIDA
63 Employees
2 YEARS AUDITED FINANCIAL STATEMENTS
OTCQB with INDEPENDENT BOARD and AUDIT COMMITTEE MEMBERS

HERES SOME JUICY 2018 NUMBERS - W/O NEW LOCATION ACQUIRED 3/30/18, these revenues will start to be recognized June 30, 2018
Scripts: 132,100 a 22% increase compared to June 30, 2017
Net Revenue: $10.2 million, a $160,000+ increase compared to June 30, 2017
340B Sales: $2.8 million, a $1.73 million+ increase compared to June 30, 2017
Annualized, 2018 340B Sales are estimated at $6.1 Million, that's a 120% increase of 2017's $2.75 Million. PharmCoRX is obviously increasing the number of customers.

Then let’s observe increase in revenue last year. JUST KEEPS INCREASING YOY

Then check out increase in revenue from the last 2 years.

Overall
G - FY 2013 = $9.3 million
R - FY 2014 = $11.3 million
O - FY 2015 = $13.7 million
W - FY 2016 = $18.3 million (AUDITED)
T - FY 2017 = $20.1 million (AUDITED)
H - FY 2018 = $10.2 million (6 months) does not include 340B revenues of $2.8 million

LET'S TALK ABOUT INCOME FROM PREVIOUS YEARS
Shall We . . .
FY 2017 = AUDITED Net Income, and w/o Discontinued Operations Net Income is $139,251
FY 2016 = AUDITED Net Income, and w/o Discontinued Operations Net Income is $259,319
Yes it did go down by $120,000, but quite explainable with with information detailed below and still extraordinary when you consider the improvement from 2015 and 2014,
FY 2015 = $(1,219,000) Net Loss
FY 2014 = $(1,009,000) Net Loss

Expenses effecting additional net income has been applied to development, growth, and expansion initiatives. Growing, Growing, Growing. Everything says they are using money to GROW.


Available Cash Is Building Up !!!
End Of 2017 = $419,000 1st Qtr 2018 = $1,261,000 Million
FY 2017 A/R = $1,270,114 1st Qtr 2018 = $1,128,000
Cash and A/R Combined Cash Assets
December 31, 2017 = $1,689,000
March 31, 2018 = $2,389,000
In awesome position, although a portion will go to acquisition. An increase of over $700K in cash assets and $1.2 million overall in cash assets.

[color=blue]EVERYTHING IS MOVING FORWARDS AND LOOKING GREAT !!!
Another Acquisition Scheduled for 2018
Another Acquisition, SEC Reporting Compliance, and NASDAQ Uplifting for early 2019

[Jimmy Quick]

Progressive Care Establishing Growth, for shareholders as they are large shareholders too.

Progressive Care Enters Into Definitive Agreements to Purchase the Pharmacy in Palm Beach County
Miami, FL -- April 02, 2018 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD), a healthcare services and technology company, announced today that it has entered into definitive agreements with the pharmacy in Palm Beach County that was previously under LOI. The operation has experienced staff, all applicable licenses, commensurate PBM contracts as PharmCo, LLC, and a Parata PASS 500 unit dose packaging system.

The acquisition of this pharmacy in Palm Beach County will facilitate growth by increasing the delivery radius into Martin County which includes Jupiter and Stuart. It will also decrease costs of expansion and increase prescription dispensing efficiency. The location has the adequate facility space to provide the opportunity to develop new processes for long term care services, compounded medications, and tele-pharmacy services.
On March 30, 2018, the Company executed a definitive agreement to purchase the pharmacy in Palm Beach County. The Company completed necessary due diligence and released $40,000 that was held in escrow pursuant to the previously issued letter of intent. The agreement calls for a stratified payment structure for the total purchase price of $300,000 USD. To date $150,000 has been released to the sellers, $75,000 has been placed in escrow to be released along with an additional $75,000 (not in escrow) upon completion of the Change of Ownership process with relevant regulatory authorities and insurance carriers. This process is expected to take 60 to 120 days following the filing of all necessary paperwork and applications. Upon receipt of all required approvals from regulatory agencies and completion of all notification periods, the Company will close on the transaction.
On March 30, 2018, PharmCo, LLC entered into an interim management agreement with the subject pharmacy. Under this agreement, PharmCo will assume all day-to-day management of the pharmacy, which includes assumption of all revenue and expenses. The agreement will remain in effect until completion of the Change of Ownership process, at which time the subject pharmacy will become the wholly owned subsidiary of Progressive Care Inc.
"This is a momentous day for the Company," stated S. Parikh Mars, CEO. "We are excited to enter the next phase of this transaction. While there is still more work to do, we believe that adding this second location is going to facilitate many of our growth objectives including tele-pharmacy, long term care, and expanded delivery radius."

Progressive Care Signs Two New 340B Contracts to Bring Discounted Prescription Programs to Non-Profit Healthcare Institutions
Miami, FL -- July 19, 2018 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced that they have signed two new 340B contracts, furthering their commitment to providing non-profit or charitable healthcare institutions with significantly reduced prices on needed medications. The contracts with Hope and Help Center of Central Florida and Care 4 U Management will begin on Oct. 1, 2018.
Throughout June 2018, Progressive Care's wholly owned subsidiary PharmCo LLC filled approximately $430,000 worth of covered medications for 340B entities (not recognized in net revenues), generating over $22,500 in fees to the pharmacy, a 250% increase over the same month last year. The total value of 340B covered medications dispensed through the first 2 quarters of 2018 was approximately $2.75 million generating $125,000 in net fees to the pharmacy.
"Allowing the company to diversify and benefit from our proactive patient engagement and risk management models. We believe that success of our initiatives will lead to more opportunities like these to enhance our growth and execute our overall missionwhile, programs have had a positive impact on communities340B"," said S. Parikh Mars, CEO of Progressive Care Inc. the need for advanced pharmacy services for vulnerable high-risk populationsillustrate canProgressive Care new 340B contractual relationships, theseThrough"

Progressive Care Launches New DischargeRX Program to Improve Engagement Between Patients and Hospitals
MIAMI FL -- July 13, 2018 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced the launch of its new proprietary patient engagement program, DischargeRX, designed to ensure that hospital patients are receiving the best transitional care while preserving vital hospital resources.
According to a 2017 study published in the Journal of the American Pharmacists Association, up to 26% of hospital readmissions are medication-related, creating a much-needed opportunity for a program to be created that is proactive towards patient engagement. Through Progressive Care's wholly owned subsidiaries, DischargeRX will provide hospitals with much needed support in preventing unnecessary and costly hospital readmissions. At no cost to the hospital or patient, the program will provide access to a PharmCo representative who will offer medication-related services throughout the patient's transitional process.

Progressive Care Installs New TCGRx Pouch Packaging System in Miami
Leading Florida-Based Healthcare Services and Technology Company
Continues Expansion of Robot Pharmacy Machinery Fleet
Miami, FL -- June 05, 2018 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced that the company has completed the installation of a TCGRx Automated Pouch Packaging System at its Miami-Dade County PharmCo location. Customarily used in hospital and facility settings, the new TCGRx system makes Progressive Care one of only a few pharmacies in South Florida to offer this kind of packaging to traditional patients. This innovative packaging system also allows the company to offer tailored medication administration solutions to long-term care facilities that often have limited options.

[Jimmy Quick]

RXMD MUST READ! As next Quarter Conference Call Approaches Week of August 13th, I thought it would be good to share some tidbits from May 15th 1st Quarter March 31, 2018 Conference Call


Tidbits from May 15th 1st Quarter Conference Call
https://smallcapvoice.com/blog/progressive-care-inc-reports-largest-single-revenue-quarter-in-company-history/

FINANCIALS
As we decrease the profitability and decrease margins, we have closely been monitoring the SG&A expenses to make sure we are lean as possible spending as little as possible.

We have a net loss mostly attributable to share based compensation and derivative liability otherwise we are net breakeven. Once the Chicago Ventures loan is completely paid off, we will realize some gain back on that derivative liability as you know that adjusts with the pricing of the stock. We will get some of that loss back.

We don’t plan on any more stock based compensation before end of year or take any more draws from Chicago Ventures. The amount received from Chicago Ventures was enough to cover TouchPointRX acquisition and PharmCo. We will be reevaluating our financial needs as we go through the year and look at other acquisition targets.

Going into our cash flow. This is a really brightspot for us as a company, that we have increased cash flow from operations. Pharmco has been doing exceptionally well at growing its revenue, growing its prescription counts, decreasing costs, paying down liabilities, having favorable terms with vendors. What that means is that we are not in position of needing any financing or funding to pay our bills. So we know as we move forward in the rest of the year that the financial stability of the company by itself is financially sound and we are able to capitalize on our ability to gain that cashflow and grow the company organically, and increase our customer base and delivery radius and expand our West Palm Beach location and Miami Dade county with the cash we have on hand.

LOOKING INTO THE FUTURE!
I am going to address this just briefly because I want to talk about it again after the question and answer section.

We are going to Execute on the TouchPointRX acquisition.

We are looking at continuing the uplift process, which means becoming fully reporting with the SEC, and then ultimately uplifting to NASDAQ. That is in the short term horizon. I put time periods of 12 – 18 months on the longest scale, but most likely we will be done far sooner than that and that will provide us pathways to further expand the company. I know that everyone is waiting very patiently for that to occur and that is a constant question that we get every call, is what is the date we will be fully reporting for SEC, I do not have a date, but the application process and the registration process is going to begin shortly and we expect that to be done within the next 12 months.

CMW Media
We recently engaged CMW Media, to do a couple of things, one is the IR piece, we want to standardize our messaging, increase our distribution, increase the visibility of our company, and get our story out to as many eyes as we can. We think by using CMW their media connections, their ability of them to look at our digital presence and our messaging to link all that up, to synchronize it and make it more effective for our everybody, shareholders, investors, and management and we think they will do a great job with that. Also going to help us on the PR side, our imaging, facebook, twitter, blogging, etc. so that we can reach as many patients as possible. The goals for that is to see improvement in our visibility, to see our story being told more nationally, story being told in more trade journals, all healthcare platforms, and see the public image of our company be expanded to more households and brokerage dealers in the like. We should be able to see a change and know whether it is working or not in the next 90 – 100 days.

CV Status
As you know we took down those funds when we were on pink sheets. Chicago Ventures took a tremendous risk on us, we went to a number of investor conferences, spoke to a number of broker dealers, a number of banks about other avenues of financing, and each one had the same issue that we were not fully SEC reporting and the timeline was too long at that point, because we anticipated we needed three years of audited financials, and at that time we didn’t have any. So CV had to hold for 12 months and took a tremendous amount of risk on us. We don’t expect to be using this facility in this way in the future. We have about 4 million shares to issue and then that note is done. At this time we don’t anticipate using them. If would need to work with them again, we would work on negotiating better terms for our shareholders. Negotiating to be more reflective of where we are now. UPDATE: This is down to 1.5 million shares left to issue.

ACQUISTIONS
We have long held the position while growing organically is phenomenal and we have been doing a great job of getting more and more patients to our one location, we know we have to grow through acquisition, we know that to expand this company and its model out to into the rest of Florida and the rest of the US we need to acquire more pharmacies, we need to acquire more healthcare institutions. Because we are experts in the field, so we are anticipating more acquisitions, and we hope to acquire another one this year. And we want to have another location in I4 corridor, but we can go anywhere in the US, we are looking for population dense areas and pharmacies that add intrinsic or strategic value or add to our diverse talent, add to our abilities. So we have a number of acquisition targets that we have identified, and we do expect to have more acquisitions in 2018 and especially 2019.

In order to expand, we know we will need more capital. So if we want new locations, new practices under the Progressive Name. How that will happen we are uncertain, could be bonds, notes, convertibles, bank loans, or straight equity, we don’t know yet how that will shape out. Some of that depends on becoming SEC reporting. As we progress through the rest of the year, and as our acquisition picture becomes clear. We will definitely be reporting to our shareholders and investors what it will take to move forward and what financing options are on the table. We know all our shareholders want to have an ability to voice an opinion on how we execute on these financing options so we want to make it as transparent process as possible.

SEC Reporting
As of today, we expect in our most conservative of estimates, that if the SEC wishes to have us report 3 years of audited financials that we would be able to accomplish that no later than March 31, 2019. We already have audited 2015 balance sheet and financial statements for 2016 and 2017. We are in the process now of identifying an SEC PCAOB firm that to begin the process so that it is quick is process. We are already in the process of identifying what the SEC will require. We expect within all reasonable measures that we will be providing no less than 3 years audited financials, no more than 4 which would include 2015 and that we would be able to execute that no later than March 31, 2019.

ENDING STATEMENT KABOOOOOOOM
CEO Ms. Mars at about the 46 minute mark of call, who is great by the way!

"I want to talk about the future, what our mission is. Why are we growing Pharmco, why are we growing Progressive Care. Because we are a healthservices company, because we believe we are needed. We are attempting to fill all gaps in a patient's healthcare. That is why we are here, that is why we are growing. TouchPointRX is just the first step in our expansion, we want to go as far as our will will take us. Doing over 20 million in South Florida. We are leading the thought on how healthcare should be. We will grow through acquisitions, and will become a leader in the healthcare space. I understand pessimism, I understand skeptism. But for anybody that doesn't believe you need to get out of our way, because bigger things have tried to take down Progressive Care. Nothing will stop us from becoming what we are destined to be. Nothing will stop us from becoming SEC reporting, nothing will stop us from uplisting to a higher National Exchange. Today is the beginning, and we are on the cusp of more. It doesn't matter what share price is today, the only thing is it won't be there much longer. We will make any investor proud!"



$RXMD WHY THE SIGNIFICANT GROWTH WILL CONTINUE!

[Jimmy Quick]

$RXMD REAL COMPANY - WHY THE SIGNIFICANT GROWTH WILL CONTINUE! OTCQB, 2 YEARS AUDITED FINANCIALS, Over 20 MILLION REVS

What's upcoming for RXMD?

Three things specifically come to mind.


1. I would anticipate 2nd Quarter Conference Call August 14th.


2. CV news should be on the horizon as well.


3. Also we will have July revenues reported likely the same week of conference call. This will be the first month of reporting revenues from the new Palm Beach County location.



LOOK AT AMAZONS BUY OF PILLPACK for around $1 Billion, and PillPack revenues were $100 million. RXMD has a ton of revenues. Over $20 million net revenues for FY 2017 and just acquired 2nd location.


Then there is always the unexpected! Check out recent news headlines!

[Spider Web]

RXMD DID NOT PAY FOR ANYTHING

Because They Can't . . . LOL !!!

It Was The Shareholders Who Paid
For That Little Annex Expansion !!!
And It Was Shareholders Who Paid
For That Chicago Ventures Loan !!!

Without The Huge Dilution And The
Many Ruined Shareholders, None Of
That Would Have Ever Happened, LOL

But You Will Never Hear RXMD Directly
Thanking Any Of Those Shareholders
For Their Sacrifice Of Huge Losses

So Sad . . .


THREE CENTS IS STILL COMING

GET READY FOR A BIG NET LOSS

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