So a serious question here... the BS about Armen aside. Other than the fact that they don’t hve net profit right now (which I would Expect with a quickly growing company), Do you have any real issues with the company or their business model? Most companies, especially those in business sectors with historically lower profit margins, will lose money while expanding. If they could net $2 million a year on $20m in rev, there wouldn’t be any need to go public, take out loans or raise capital to expand. As locations expand and overhead becomes shared, expenses will go down and they will start to turn a profit. The newer locations that they acquire will not come with the price tag that they had to pay the original key pharmacist that brought them a ton of business to their original location. That alone at the new location will drive profitability, along with the continued growth that they clearly show that they are gaining month after month. Reimbursements cannot continue to go down forever, or no pharmacy would be able to make a profit, and in turn none would exist. Something will be done eventually, whether it be through legislation in healthcare or through lobbying. The bigger RXMD gets, the more power they gain in the industry. The fact that the have the scores and clout that they do with Humana, is just the start. They also have great technology that they are continuing to expand and improve on, that ultimately will become the norm for the Iindustry at some point. That’s my opinion at least.
Armen had something crappy happen in the past, great, who cares. He has moved on and everyone else should as well. Shital is a badass, whether some want to admit it or not. She is well spoken, clearly very intelligent, and seems to be highly regarded in their sector.
As for the loans, I’m sure if they could get a conventional loan they would. But just like the short term profitability issues, a bank is going to have a hard time giving a company a large loan in an industry that is currently under the microscope of the government and many others, with no idea what is going to happen with healthcare. If RXMD had already been turning a huge profit before the expansion, it prob wouldn’t have been an issue....but they weren’t. So they took the best route they could to expansion. This ultimately will pay off for shareholders. I said It in a post before and I’ll say it again, the additional locations will give short term bounces to the PPS, but what will really give them a bounce that stays will be SEC registration and compliance and then the slow climb back to profitability. Once those two things happen, the sky is the limit here.
All IMO obviously, trade as you see fit.
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