Jimmy right on as usual...
Remember to lock in your shares. Mine are a sell at .88
2017 Key Highlights
• Change of listing tier to OTCQB
• Addition of Independent Board Members: Jervis Hough and Oleg Firer
• Majority Independent Audit Committee
• Completion of 2016 Audited Financial Statements
• 225,000 prescriptions filled
• Over 21,000 prescriptions filled in a single month
• Over $20 million in net revenues
• Secured Community AIDS Network 340B contract.
• Doubled monthly 340B revenues since December 2016
• Raised over $2.75 million for 340B charitable organizations
• Reached over 50 employees
• Developed a tele-pharmacy platform in conjunction with software provider MDFlow
• Licensed in the following states: Colorado, Connecticut, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Pennsylvania, Texas, Utah, Arizona, Massachusetts
• 5 star rating
• Opened first PharmCo Pharmacy Resource Center
• Celebrated PharmCo's 10 year anniversary
2018 Key Highlights
• Completion of 2017 Audited Financial Statements
• Secured first acquisition: PharmCo 1002 (Palm Beach County)
• Paid off all CVP notes
• Introduced Bitcoin and cryptocurrency functionality
• Launched Newly Designed Websites
• Launched New Prescription Platform
• Launched DischargeRx Program
• Launched Tele-PharmCo
• Launched 340B Backoffice Support
• Launched Program to Opioid Abuse
• LegitScript Certification
• Pilot Program: Westchester Hospital
• Over 300,000 prescriptions filled an increase of 35%
• Over 30,000 prescriptions filled in a single month
• Approx. $21 million in net revenues
• 5-star rating
• Top 20% Pharmacy in the nation
• Highest Humana Scores in Company history
• 4 active 340B contracts
• Increased 340B revenue by over 150%
• Processed over $6 million in claims on behalf of 340B entities
• Reached over 70 employees
• Licensed in the following states: Colorado, Connecticut, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Pennsylvania,Texas, Utah, Arizona, Massachusetts, Minnesota
• New PR Partner: CMW Media
• New Investment Bank: The Benchmark Company
• FlyPharma Speaking Engagement
• Florida Tele-health Summit Speaking Engagement
• Contributed Articles published in prestigious industry trade magazines: Pharmacy Times, Pharmacy Business, World Pharma Today, Drug Topics, Authority
• Purchase PharmCo's first building: 400 Ansin Blvd
Outlook
The Company has never been more optimistic than it is beginning this year. 2019 will undoubtedly bring hardships, but this Company hasproven resilient and unfazed by headwinds no matter its cause. 2019 will be a year of tremendous transformation as we leap into our technological objectives. We intend to develop our own proprietary software for a number of applications that will greatly improve the way the healthcare industry interacts amongst itself and its patients. The platforms developed in 2018 will provide the base for further advancement, that will make the Company steps ahead of our competitors and create additional revenue opportunities.
We plan to begin development of our own line of CBD products to increase awareness of its therapeutic capabilities. We intend to provide patients with a brand of products that is easy to use, easy to understand, and meets the highest standards the industry has to offer. Putting our reputation behind the products we create will help patients feel comforted in the knowledge that a healthcare company stands behind the product they use for their well-being.
We expect to close on another acquisition. Growth through acquisition will improve our profitability, scale, geographical reach, and negotiating power with other organizations and insurance carriers. Upon execution of the acquisition currently underway, we hope to doublethe size we are today.
As always, we intend to continue to develop our core products and services, providing best in class solutions for medication therapy management, health consultations, compounding, long term care, post-discharge care, risk management, 340B, and adherence. Through further growth in these areas, we will increase same store prescriptions filled and revenues.
The following are our strategic goals for 2019:
• Achieve 40,000 prescriptions filled in a single month
• Increase annual same store sales to $24 million
• Close on second acquisition leading to consolidated revenue of over $35 million
• Secure additional 340B contracts and long-term care facility relationships
• Achieve accreditation for non-sterile compounding
• Achieve full enterprise profitability and earnings growth
• Install Tele-PharmCo enabled kiosks and equipment in senior living communities and large-scale clinics
• Develop exclusive line of CBD products
• Conduct PharmCo evidence-based case studies
• Release PharmCo's first televised advertisement
• Become SEC registered and fully reporting
Closing Remarks
We start 2019 gazing out into an ocean of opportunity. Standing on the deck of a ship built to withstand headwinds and uncertainty, we set a course forward with fortitude in our spine. We who work here every day, buzz and hum with electric invigoration as we anticipate the exciting days ahead for a company with so much promise and purpose.
In 2018, we dug in, fought hard, built a trust in each other to take leaps together. The healthcare landscape changed and we persevered, undeterred by circumstances beyond our control. We grew, we evolved, we stepped forward to lead the industry and today, while we appreciate the difficult road behind us, we look to future.
As shareholders, we place our well-being and futures in the hands of this organization. We continue to believe in its mission and know, through faith and foundation, that the future is bright, and our achievement will rest on the solidarity of our team. It is humbling, the trust bestowed upon us who spend long days and nights here and we are immensely grateful for that trust. 2018 was a year of pride, strength, execution but 2019 will make the company of 2018 unrecognizable in the distance.
Thank you all for coming with us on this journey.
Best regards,
S. Parikh Mars,
Chief Executive Officer
Progressive Care, Inc.
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