Once Again... NO Number was given and there is NO Reverse Split on the Table.... And RXMD CEO does not need Shareholder Approval. RXMD Armen's "PREFERRED" Share is ONLY vote that matters.
Addressing Reverse Split Rumor
FEBRUARY 13, 2020
PROGRESSIVECAREINC
As all of our shareholders should be well aware, there will be no reverse split without full authorization and consent of the owners of our common stock. Super-voting preferred will have no role in authorizing a reverse-split. As of today, the company has not conducted any analysis on a potential reverse split as such analysis would premature at this time. We remain focused on the reregistration process with the SEC and will address the requirements of an uplist to a national exchange subsequent to that.
We pride ourselves on our transparency, and all material information that will have an impact on our shareholders and the investing public will be released directly from the company. We continue to advise our shareholders and the public to not use unofficial information when making investment decisions regarding our company.
Best regards,
Shital Mars
Chief Executive Officer
On July 11, 2014, the board of directors approved the issuance of 51 shares of the Company’s Series A Preferred Stock
to a certain employee of the Company, which is equal to 50.99% of the total voting power of all issued and
outstanding voting capital of the Company in satisfaction of $20,000 in past due debt. These issued shares of
preferred stock are outstanding as of March 31, 2020 and 2019. As of March 31, 2020, the individual is employed by
the Company.
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