Replies to post #114196 on Progressive Care Inc (fka RXMD)

[Jimmy Quick]

$RXMD $18 Million Acquisition News OUT
REAL COMPANY - OTCQB – Penny Stock Exempt, 2 YEARS AUDITED FINANCIALS soon to be 3, Over 20 MILLION NET ANNUAL REVS for 2018 and now over 40 MILLION NET REVENUES with acquisition– HUGE LONGTERM INVESTMENT POTENTIAL. Doubled in Revenues, scripts, and assets with 1 deal.

What's happening for RXMD?

11 things specifically come to mind, and they keep generating more "Game Changers" by the week. WOW!!

1. $18 Million Annual Revenue Purchase of Florida Base Pharmacy (SEE PRESS RELEASE dated 3/12/19 BELOW

Progressive Care Inc. Executes Agreement to Purchase Florida Pharmacies

MIAMI March 12, 2019 Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, announced today the execution of a purchase agreement to acquire a Florida pharmacy with two locations.

On March 8, 2019, Progressive Care Inc. executed an agreement to purchase 100% of the stock in Family Physicians RX, Inc. aka Five Star RX, a Florida corporation (FPRX). FPRX has 2 locations in Florida: Davie and Orlando. FPRX has approximately $18 million in annual revenues and $500,000 in net income as of December 2018, the integration of which would yield $40 million in annual operating revenues for the Company.

The Company has completed phase one of acquiring FPRX through executing a definitive purchase agreement and funding escrow. It anticipates the closing and consolidation into Progressive Care's financial statements to be in the second quarter of 2019. Per state Medicaid rules, the Company has begun the 60 day advance notification regulatory process with the Agency for Health Care Administration (AHCA). Upon receipt of acceptance from AHCA, the Company will effectuate the closing. During this period the Company will prepare and submit paperwork for the change of ownership to the DEA, Insurance Carriers, PBM's, and other associated entities.

"This is the Company's biggest milestone to date," said S. Parikh Mars, CEO of Progressive Care. "In a few months' time, the Company will double in size, move corporate offices into the new building, and begin an exciting new chapter in our story. This acquisition will fundamentally change our reach, status, and longevity in this industry and we look forward to expanding on our momentum and progress."

2. December 2018 revenues were reported. Done – Press Release January 15th

Progressive Care Inc. Announces Best December in Company History

MIAMI, FL -- January 15, 2019 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced further growth year-over-year in revenue and number of prescriptions filled for December 2018.

In December, the company reported a total of $1.7 million in net revenue, a 6% increase from the same month last year, and a 45% increase in prescriptions filled during the same month last year, totaling nearly 28,332 prescriptions filled. This marks the strongest finish to the year in Company history.

"December was another big month for us. Progressive Care exceeded December 2017 prescription fillings and is moving forward on major initiatives," said S. Parikh Mars, CEO of Progressive Care. "In December, we finalized the closing of our first property and are eagerly pushing forward on an agenda that will capitalize on our many achievements in 2018. We are confident that 2019 will lead to continued growth, more record-breaking months, and even bigger milestones while we continue our high standards for patient service and value-added healthcare management offerings."

REVENUES ACHIEVED YTD



3. Annual Shareholder Letter for 2019 Forecast and Goals – Done: Press Release 1/17/2019
Ms. Shital Mars, CEO shared the outlook for 2019 and highlights from 2018.

Progressive Care OUTLOOK
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

4. January 2019 revenues will be reported. Done – Feb 20, 2019 PR

Progressive Care Inc. Announces Best January in Company History
Note: I added a few historical details.
Press Release | 02/20/2019

MIAMI, Feb. 20, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced further growth year-over-year in revenue and number of prescriptions filled for January 2019.
In January, the company reported a total of $1.9 million in net revenue, a 5.5% increase from the same month last year, and a 31% increase in prescriptions filled during the same month last year, totaling nearly 31,000 prescriptions filled . This marks the strongest January in Company history. (23,000 for 2018 vs 31,000 for 2019). Revenues matched 2nd Highest total, only trailing 1,930,000 reported in August 2018.

The Company is continuing to move forward on the acquisition process, working through the final agreements and documents necessary to facilitate the change of ownership transition. The Company has reached agreement on all principal terms with the sellers and is awaiting last reviews and approvals on paperwork to fund escrow.

“We started 2019 on a great note. Progressive Care exceeded December 2018 prescriptions filled (28,332) and is moving forward on major initiatives,” said S. Parikh Mars, CEO of Progressive Care. “We are excited to fund escrow on the acquisition soon and start the transitional regulatory process. We are confident that our growth strategy will yield results in 2019, allowing us to take the next big steps in our development.”

5. CBD Manufacturer Partnership Agreement

CBD news will be OUT SHORTLY! THEIR SUPPLIERS ARE UPDATING THEIR LABELS AS REQUESTED BY FDA RIGHT NOW!
Putting all the below together and you get….

Armen said they are currently working on the final agreements and some other related work. He is positive this project is moving forward as planned.

Update January 28, 2019
Ms. Mars is flying out to San Diego today. Part of her missions is to meet some CBD organizations for partnership! Armen said he wished the federal government could be more liberal on cannabis products, but no matter what, Progressive Care will be getting the best out of it. He is very much looking forward to this huge opportunity for the company’s growth. As to the potential Curaleaf partnership, he only said they are referring their customers to Curaleaf products as an agreement with Curaleaf. He wants to see where this relationship will lead them to.

Night of January 28, 2019
ProgressiveCare Tweet: Hello San Diego. From CEO MS. SHITAL MARS https://t.co/5QBgs9yJAL

So we're going to put our name behind these products, which is a big deal. Again not all CBD is made alike. This is going to be our reputation on the line with the CBD brand and we have two manufacturers that we're working on NDA's with to explore those partnerships. So very exciting times. Look out for more updates in January after the Farm bill but we're not waiting for January. We're trying to get things in place so that once the Farmville passes, we can start moving forward on production.

6. 3rd Year of Audited Financial Statements and Conference Call to Discuss Results.



7. Announcement of SEC Registration Completion

Progressive Care will audit the new Orlando pharmacy’s financials once the acquisition is completed. They will file SEC together. He’s still expecting sometime late March, early April.

8. PharmcoRx Commerical

PharmCoRx Commercial in English and many other languages

https://youtu.be/z642uN9Ppho

9. CBS Miami Interview on “Opioid Weening” going Nationwide

Interviewing CEO Shital Mars, and compounding pharmacist Momina and PharmCo’s patient.

https://www.msn.com/en-us/news/us/custom-made-lotions-provide-patients-with-alternative-to-opioids/vp-BBTSnqn



10. Tele-Pharmacy Licensing Deals

We're are going to be a technology company too. If you look five years from now, CVS, Walgreens, Walmart will be using the solutions we developed and we pioneered and they're going to have to look at us for what we just like the Xerox years ago, had developed all of this tech that were then used by other people.

I don't want to be the Xerox, we're going to own that tech. We're going to be the one you have to come to if you want to advance in the technology sphere of patient management, of healthcare management, of telemedicine, of tele-pharmacy, of whatever. If you're helping a patient and healthcare happens at home, somewhere PharmCo and Progressive Care is going to be involved. So that's the future. That's what we're working toward and that's what all of our shareholders have to look forward to.

11. Progressive Care Inc. Subsidiary PharmCo, LLC Earns Top Performance Scores From Humana Inc. Press Release 02/27/2019

MIAMI, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced that its wholly owned subsidiary PharmCo, LLC has met all three of the performance measures and is in the top 10% in the nation evaluated by Humana Inc., a leading health and well-being company, as part of its Rx Quality Network program. As a result of PharmCo’s performance scores for 2018, the company will receive the maximum payout offered by Humana as part of the program’s rewards.

ALL OF THIS COULD LEAD TO A SIMILAR SITUATION AS BELOW IN THE FUTURE IN TERMS OF VALUATION – AGAIN HUGE LONGTERM INVESTEMENT POTENTIAL

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 2018 and has acquired 2nd location.

[Jimmy Quick]

RXMD Performing Outstanding Compared to Peers



In 2017, independent community pharmacies continued to lead the way in innovations that define the future of pharmacy practice. As Medicare Part D and other payers focus on quality of medication use, independent community pharmacists are providing the patient care services to ensure optimal medication therapy. Community pharmacists are accessible and have the expertise to manage drug therapies. Community pharmacists are finding ways to be part of health care teams managing chronic patient care scratch, but the number of startups was smaller than closings and the number of independent pharmacies has declined from 22,041 to 21,909 (Table 5, page 9). The more than 200,000 full-time equivalent workers employed in these stores stimulate local economies, pay state and local taxes, and provide high quality services that make a difference in the daily lives of patients.

http://www.ncpa.co/images/digest/2018-Digest-Web.pdf

An overview of the average independent community pharmacy is provided in Table 1, on page 5. In general, the average independent community pharmacy location dispensed 59,137 prescriptions (190 per day) in 2017, a slight decrease from the 59,746 prescriptions dispensed in 2016. Rural pharmacy closings, preferred or narrow networks, and mandatory mail order may have contributed to the flat growth in prescription volume in these independent pharmacies. Many independents continue to operate multiple pharmacies. Thirty-two percent of independent community pharmacy owners have ownership in two or more pharmacies and the average number of pharmacies in which each independent owner has ownership is two. Data for the Digest have been collected for more than 80 years, providing the opportunity to look at long-term trends for independent community pharmacies. Gross margins as a percentage of sales decreased from 23.2 percent in 2008 to 21.8 percent in 2017. While it’s interesting to note that major provisions of the Affordable Care Act went into effect at the midpoint, most of the decrease came over the past three years, caused by below cost reimbursement and unpredictable DIR fees in Medicare Part D.

Tables 2 and 3 show the recent financial trends:
- Average sales in 2017 per location were $3,540,013, a slight decrease from 2016.
- Gross margin decreased for a fourth straight year to 21.8 percent.
- Payroll expenses, as a percentage of sales, decreased from 13.1 percent in 2016 to 13 percent in 2017.