Drumming up More Business Building a headquarters facility that will accommodate 3 times the volumes they produce today. Planning 5 years ahead. That's right! Over 150,000 in prescriptions and over $120 million in annual revenues.
BOOM, BOOM, BOOM through the end of the year and it will be very involved and very fast over the next 12 to 18 months.
About the FSRX Acquistion Effectively doubled in size, went from 2 locations to 4, Humongous expansion opportunity, increased our radius especially in the Orlando area. Doing about 50,000 prescriptions a month 30,000 prescriptions through PharmcoRX and 18,000 through FSRX Going to take those 2 new locations to the next level with the marketing and brand awareness. Provides a wonderful opportunity to expand with a pharmacy that is similar to us. Should be close to $2.8 to $3.0 million per month, every month from here on out. Within next 10 days or so should be releasing sales for all 4 companies. In less than 12 months, have completed two acquisitions, adding 3 locations and we are not stopping there.
Areas of RXMD focus - Big Items
Shareholder Meeting – working on getting venue and announcements
Working of getting Audited Financials and refile with the SEC.
Working on our CBD line, which navigating the legal hurdles is fairly immense, as a pharmacy a lot more regulation than everyone else in this space.
Have 2 CBD lines that we are offering right now.
Looking at additional expansion. Getting us further North in Florida and possibly Georgia. Going through due diligence package we are working through to see if it is the right deal that is beneficial for us, beneficial to shareholders, and acquired company as well.
It’s going to be BOOM BOOM BOOM through the end of the year.
Updating HQs and making it the flagship.
Working directly with some of the best technological companies in the country, both pharmacy and software wise, to make an innovative step above, this is going to be a pharmacy that can handle business that is 3 times the volume we do today..we are prepping for the next 5 years. Going to move all of the Miami facility here in 2020 and likely some if not all of the Davie operation here as well.
So there is a lot going on, and it will be very involved and very fast over the next 12 to 18 months.
A lot of people don’t see what coming, we are always looking 12 months ahead. We know PBMs are going to get worse before they get better w/o legislation. But we will continue to achieve utmost standards to obtain high performance standards and obtain bonuses instead of having to payback money.
Diversifying to cash based sales, business to business sales, and technology sales. That’s why we went into Tele-Pharmacy. Which by the way we took to idea share and Tele-pharmacy is now a thing, and we spearheaded it. We are the ones that brought it to the table, and we are seeing the market react to us. When we go to present ourselves now Tele-pharmacy is a legitimate thing. We are developing that technology to have the opportunity to leverage for financial results.
We are also working business with MSO’s, physician practices outside of insurance environment, 340Bs, so we are insulting ourselves. And because we care we are constantly getting new prescriptions, patients. So even though the reimbursement is down the increases in prescriptions and lives that we manage continues to increase.
Stuart Smith, Shital, being a public company has its own inherit challenges as you know being the CEO, please take the opportunity right now to address some of the misconceptions regarding the handling of shares by insiders and RXMD staff.
Shital Mars, CEO I think what is happening is a number of shareholders are looking at volume in stock and getting nervous assuming insiders are trying to take advantage or manipulating and trying to sell shares into the market. And that cannot be anything further from the truth. I have not sold a single share, Armen has not sold a single share, most of our staff still have the stock in certificate form in safes somewhere. So none of the insiders are selling, we also know the shareholders are worried about the derivative, and whether our investment partners are converted or clearing shares for sale into market, which is not happening either. Our investors, and creditors and those that have invested in the company have not converted any of the notes or cleared any stock and haven’t executed any market activity in the stock. So what you are seeing is shareholders themselves who have shares either brief or long time making decisions for themselves, none of the insiders are participating in this activity.
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