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Major Runner RXMD (Progressive Care) Surging on Record Revenues, Up Listing & Aggressive Expansion of its COVID-19 Testing Service

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RXMD (Progressive Care) has been making a major move up the charts in recent months from lows well under $0.03 to recent highs of $0.195. RXMD has been under heavy accumulation recently and volume has picked up substantially since a slow December with RXMD regularly trading several million USD per day in dollar volume as a new era of penny stock speculators fueled by robinhood and its 100 million new trading accounts take on the bulletin boards. These are different times than just a few short years ago; now penny stocks such as TSNP can achieve a $6 billion plus market valuation and trade $375 million in dollar volume in a day on the bulletin boards. And TSNP has no stronger fundamentals than RXMD does. Microcapdaily has reported on RXMD incredible rise over the years from Pink Sheets with the yield designation to fully reporting OTCQB with plans to up list to a major exchange. The stock has runner in its blood and a history of big moves, skyrocketing from well under a penny to highs of $0.27 in early 2018. When a penny stock such as RXMD heats up, penny stock speculators pay attention.” 

RXMD just reported a record year in 2020 with more than 530,000 prescriptions filed, the highest in Company history. RXMD did over $40.6 million in sales, the highest in Company history. 340B revenue was $2.8 million, representing year-over-year growth of 323% compared to the year ended December 31, 2019. Recently RXMD has launched an aggressive expansion of its COVID-19 testing service registered through the FDA under its Emergency Use Authorization (“EUA”) guidelines, featuring Polymerase Chain Reaction (“PCR”) and Antigen testing systems that produces rapid detection of the SARS-CoV-2 virus with market-leading accuracy in 15 to 45 minutes. To date, the Company has successfully tested over 5,000 patients and built a reputation as a preferred provider for in-patient and out-patient COVID-19 Rapid Testing solution at its Pharmacy locations in North Miami Beach, Palm Springs and Orlando pharmacies.  

Progressive Care Inc. (OTCQB: RXMD), through its subsidiaries, is a Florida health services organization and provider of prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long-term care facilities, and health practice risk management. The Company boasts 4 physical pharmacy locations (in North Miami Beach, Davie, Palm Springs, and Orlando) with 5-star performance ratings and nearly 125 employees from which to launch further expansion and sales growth. Progressive Care has been featured by mainstream press including in prestigious online magazines such as Forbes, Microcapdaily, and HuffPost. PharmCo Rx is licensed in Colorado, Connecticut, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Pennsylvania, Texas, Utah, Arizona, Massachusetts and Minnesota. 

For years Microcapdaily has reported on RXMD starting on January 8, 2015 stating: RXMD is a fascinating story taking the bb’s by storm. The stock which has been locked in a battle between $0.001 lows and $0.01 highs has exploded out of its trading range well into penny land. While RXMD still remains quite unknown the stock is quickly gaining the attention of a growing shareholder base who swears this one goes much higher. Everyone knows just how explosive these OTC pharmacy plays can be.” More recently on July 29, 2020 Microcapdaily reported on RXMD: “RXMD is moving steadily higher in recent trading on growing volume as the Company reports record operating results and expands its covid-19 antibody testing operations. Microcapdaily has reported on RXMD incredible rise over the years from Pink Sheets with the yield designation to fully reporting OTCQB with plans to up list to a major exchange. The stock has runner in its blood and a history of big moves, skyrocketing from well under a penny to highs of $0.27 in early 2018. When a penny stock such as RXMD heats up, penny stock speculators pay attention.” 

Has Progressive Care Inc. (OTCMKTS:RXMD) Turned an Important ...

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RXMD

RXMD has emerged as a revenue powerhouse in recent years recently reporting record 2020 revenues topped $40 million up over 75% from last year. In a recent update management stated: RXMD had a record year in 2020: “We filled more than 530,000 prescriptions in 2020, the highest in Company history. We had over $40.6 million in sales, the highest in Company history. The Company recorded over $600 thousand in revenues related to rapid results COVID-19 testing in the last six months of 2020, providing testing to over 5,000 patients. 340B revenue was $2.8 million, representing year-over-year growth of 323% compared to the year ended December 31, 2019.” 

During the third quarter 2020, the Company launched an aggressive expansion of its COVID-19 testing service registered through the FDA under its Emergency Use Authorization (“EUA”) guidelines, featuring Polymerase Chain Reaction (“PCR”) and Antigen testing systems that produces rapid detection of the SARS-CoV-2 virus with market-leading accuracy in 15 to 45 minutes. The systems we use for Rapid Detection of the SARS-CoV-2 virus is a molecular test using a lab technique called PCR, an antigen-based testing system designed to detect proteins from the virus that causes COVID-19. The Company provides these new testing systems to patients at its North Miami Beach location and provides Antigen testing at Palm Springs and Orlando pharmacies. To date, the Company has successfully tested over 5,000 patients and built a reputation as a preferred provider for in-patient and out-patient COVID-19 Rapid Testing solution. 

A significant aspect of RXMD business plan is the development and launching of new and innovative technology solutions to deliver personalized patient-centered care. Recently the Company completed a significant component of that plan through the launch of its ClearMetrX subsidiary, the Company’s first wholly-owned data management company with services designed to support health care organizations across the country. The Company believes in the power of Artificial Intelligence (AI) to improve preventive healthcare by helping physicians make informed decisions in the medication therapy management process. Through ClearMetrX, RXMD has increased its third-party administrative and data management fees to over $700,000 in 2020.  

RXMD CEO is Shital Parikh Mars. According to her linkedin page: Shital Parikh Mars became Chief Executive Officer of Progressive Care in January 2016. Prior to becoming CEO, Ms. Mars was the Chief Operating Officer for 4 years and a vital consultant to Progressive Care from 2010 through 2012. As President and CEO of Spark Financial Consulting, Ms. Mars provided business development consulting services in which she advised the Company on human resources, financial reporting and transactions, operations, compliance, SEC filings, and investor relations, among other things. Prior to her consulting position, Ms. Mars was also the Chief Operating Officer of Basis Financial, a boutique investment banking firm engaged by the Company. Her experience in the financial services industry centers on operational management, preparation and submission of financial statements, mergers & acquisitions, securities offerings, SEC reporting, due diligence, compliance, and regulatory audits. Ms. Mars has a B.S. in Business Administration and Accounting and is a member of the international business honor society, Delta Mu Delta. Ms. Parikh Mars maintains 6 securities license registrations including the Series 7, Series 66, and Series 24. 

On February 21 RXMD announced a transition of its software platform to Newleaf, a best-in-class pharmacy software solution produced by leading pharmacy software and technology provider, Keycentrix (Keycentrix.com). Newleaf is highly adaptable and will provide a viable foundation for the Company’s technology development and deployment objectives, including an expansion in its ClearMetRx business, Progressive Care’s wholly-owned data analytics company, which features services designed to support health care organizations across the country. 

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RXMD (Progressive Care) has been making a major move up the charts in recent months from lows well under $0.03 to recent highs of $0.195. RXMD has been under heavy accumulation recently and volume has picked up substantially since a slow December with RXMD regularly trading several million USD per day in dollar volume as a new era of penny stock speculators fueled by robinhood and its 100 million new trading accounts take on the bulletin boards. These are different times than just a few short years ago; now penny stocks such as TSNP can achieve a $6 billion plus market valuation and trade $375 million in dollar volume in a day on the bulletin boards. And TSNP has no stronger fundamentals than RXMD does. Microcapdaily has reported on RXMD incredible rise over the years from Pink Sheets with the yield designation to fully reporting OTCQB with plans to up list to a major exchange. The stock has runner in its blood and a history of big moves, skyrocketing from well under a penny to highs of $0.27 in early 2018. When a penny stock such as RXMD heats up, penny stock speculators pay attention. RXMD just reported a record year in 2020 with more than 530,000 prescriptions filed, the highest in Company history. RXMD did over $40.6 million in sales, the highest in Company history. 340B revenue was $2.8 million, representing year-over-year growth of 323% compared to the year ended December 31, 2019. Recently RXMD has launched an aggressive expansion of its COVID-19 testing service registered through the FDA under its Emergency Use Authorization (“EUA”) guidelines, featuring Polymerase Chain Reaction (“PCR”) and Antigen testing systems that produces rapid detection of the SARS-CoV-2 virus with market-leading accuracy in 15 to 45 minutes. To date, the Company has successfully tested over 5,000 patients and built a reputation as a preferred provider for in-patient and out-patient COVID-19 Rapid Testing solution at its Pharmacy locations in North Miami Beach, Palm Springs and Orlando pharmacies. Since a brief dip Investors are looking for a powerhouse move back to recent highs; a break over $0.195 and its an all-out blue-sky breakout. We will be updating RXMD as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with RXMD.

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Disclosure: we hold no position in RXMD either long or short and we have not been compensated for this article.

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MSP Recovery (NASDAQ: LIFW) in the Spotlight: Legal Battles, Luxe Living, and Stock Surge

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MSP Recovery (NASDAQ: LIFW) has been on quite the rollercoaster ride, defying gravity with over 400% gain since September 14th, 2023 with over 240% of that gain happening this week alone. However, the exact reasons behind this meteoric rise remain elusive. Typically, when a company drops major news, you’d expect an instant stock reaction. But in this case, the last significant update from the company was about a week ago, and it’s questionable whether that news was much on the positive side, yet the stock is still zooming upwards.

Background:

Let’s delve into the nitty-gritty of what MSP Recovery, more prominently known as LifeWallet, is all about. Imagine them as the healthcare financial detectives, diligently sifting through the complexities of medical billing and reimbursements. They specialize in recovering money owed to healthcare providers. If an insurance company owes a hospital for a patient’s treatment, these folks ensure that the hospital gets the rightful compensation. But their innovation doesn’t stop there.

Enter “LifeWallet,” their brainchild—a powerful tool designed to revolutionize healthcare transactions. Picture it as a savvy assistant for healthcare professionals, standing by their side in the hustle and bustle of medical care. LifeWallet’s magic lies in its ability to decipher the complexities of healthcare billing and insurance. It guides doctors and hospitals, helping them navigate the tangled web of who should foot the bill, especially in post-accident treatments. It’s a digital ally ensuring fair compensation and smooth financial transactions in the intricate healthcare landscape.

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MSP is making waves in the healthcare domain with this innovative approach, leveraging data analytics to streamline processes and champion fair compensation for healthcare providers. Much like a rollercoaster ride, their journey promises excitement, surprises, and an undeniable thrill in the world of healthcare finances.

Legal Battles and CEO Extravagnce:

Step back and look at their stock chart—MSP has taken a major hit in value this year, and it’s not without reason. Surprisingly, digging into the company’s operations revealed some unpleasant surprises we hadn’t anticipated. It’s been a rough ride for them.

The company was just recently involved in a class action law suit led by recognized leader in shareholder rights litigation, Robbins LLP. The case revolved around MSP not providing essential information to investors transparently.

There were a number of claims mentioned, here’s a quick list.

  1. MSP didn’t reveal there was an ongoing investigation by the SEC and federal prosecutors.
  2. They gave out financial information to investors that was significantly wrong and deceptive.
  3. When admitting they needed to fix their financial results, they didn’t reveal the full extent of the issues.
  4. MSP couldn’t financially handle the claims they were assigned to manage by a major health and engaged in deceitful actions with said provider
  5. The Registration Statement had lots of wrong or misleading statements and was poorly prepared.
  6. Their Proxy also had false or misleading statements.

It all started on July 31, 2023, where The Miami Herald unveiled significant revelations. Stating the CEO John H. Ruiz has been living quite the lifestyle buying several waterfront mansions in Miami, even an entire Boeing passenger jet.

It’s not surprising the Ruiz’s lifestyle was so extravagant considering LifeWallet was once valued at more than $32 billion, but as you can see the company is now worth a small fraction of that. That said, Ruiz’s expensive lifestyle would be tough to continue.

Then again, on August 1, 2023, the Company made disclosures to the SEC (Form 8-K), confirming The Miami Herald’s findings. The stock took another substantial hit, dropping over 12%. Adding to the unfolding drama. After that, a substantial $67 million lawsuit was filed against the Company on the same day, resulting in an 18% plummet in the stock price.

The narrative continues on! On August 17, 2023, MSP acknowledged a notification letter from Nasdaq’s Listing Qualifications Department. They confirmed the Company’s non-compliance with Nasdaq’s Rule 5250(c)(1) due to a delayed Form 10-Q filing for the period ending June 30, 2023. This revelation caused a 19% stock price drop over two days.

With that said, we’ll bet you’re seriously wondering how could this company could possibly see recovery (pun intended) after all these allegations were laid out.

What happened:

Surprisingly enough, it seems Robbins LLP just recently lost the case against MSP and there was an announcement made on September 13th, 2023 about it. All those allegations have vanished into thin air. It’s baffling how a company with so many strikes against it can seemingly wrap things up so quickly. The whole situation leaves us questioning what’s really going on.

Since the announcement the other week, the company’s valuation has skyrocketed, at some points even peaking at an increase of over 400%. Naturally with that kind of trading action, it’s no surprise day traders are getting in on the action. MSP is trending all over Twitter amongst notable users like @timothysykes, @stockplaymaker1, and @AngryRed316 talking about it.

At this point, it looks like investors are basing their trades more on chart patterns and less on the company’s solid financial footing. MSP didn’t deliver great news in its latest earnings report, showing quite a large net loss of over $400 million. It’s quite likely the allegations had a role to play in this financial blow. The real question is if MSP can get its act together, start making real profits, and avoid a chapter 11. Either way, we’ll continue to follow along to see how things pan out!

We will update you on LIFW when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Picture geralt by from Pixabay.com

 

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VCI Global (NASDAQ: VCIG) Joins Forces with Microsoft Azure OpenAI: A Tech Revolution Unleashed

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VCI Global (NASDAQ: VCIG) is back on the radar with another significant gain of 84%. We wrote about this company just recently in June, where it popped 156% on the announcement of their “Socializer Messenger”. The company is now teaming up with Microsoft Azure OpenAI through its subsidiary, V Galactech Sdn Bhd. This partnership brings together their AI know-how to reshape the world of business solutions, making waves in the tech scene by using Microsoft Azure OpenAI services.

This collaboration is all about meeting the growing demand for tech advancements that are fast, smooth, and globally connected, helping businesses connect better with their customers. It’s also a boost to VCI Global’s AI consulting skills.

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By tapping into what Microsoft Azure OpenAI offers, VCI Global is jumping into the tech world’s fast lane. They plan to come up with some cool innovations, like Generative Pre-trained Transformer 4 (GPT-4) and Microsoft’s new AI-powered chat tool, Bing Chat Enterprise. Plus, they’ll use Microsoft Azure OpenAI’s cutting-edge AI for their projects, including the super-smart AI-assisted sales platform, robosale software.

https://twitter.com/ShortDaPos/status/1694403174566858783?s=20

Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global, is very excited about this partnership. He mentions, “We’re thrilled to dive deep into AI innovations, especially with Microsoft Azure OpenAI. We can’t wait to see how this partnership transforms how businesses connect with customers in the ever-changing tech world. The sky’s the limit, and we’re ready to help our clients ride this AI wave.”

About VCI Global Limited:

VCI Global is a versatile consulting group that’s all about helping businesses with their tech and strategy. They give advice on business strategies, help with investor relations, and provide tech know-how. They mainly work in Malaysia, but they also serve clients in Malaysia, China, Singapore, and the United States, covering a bunch of different industries.

If you want to know more about them, just head to https://v-capital.co/.

About Microsoft Azure Open AI:

Microsoft Azure OpenAI is like a treasure chest of artificial intelligence tools and solutions made to help businesses. They offer everything from AI Services to Machine Learning and AI infrastructure, all aimed at helping businesses make the most of AI for their growth and innovation.

We will update you on VCIG when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Picture by Mohamed_hassan from Pixabay

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Mobilicom (NASDAQ: MOB) Secures Landmark Deal with Top Global Manufacturer

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Mobilicom (NASDAQ: MOB), a company providing cybersecurity and reliable solutions for drones and robotics secures its largest order to date from Teledyne Technologies Incorporated (NYSE: TDY) – shares rocket 123%. $TDY is one of the world’s largest manufacturers of small-sized drones and robotics.

Overview:
This $19B Tier-1 customer has now incorporated Mobilicom’s SkyHopper PRO into its latest small-sized drone platform. This is yet another testament to Mobilicom’s systems as they have already successfully integrated into 44 design wins by various drone and UAV manufacturers.

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More importantly, Teledyne has made significant progress in transitioning from the design phase to production and commercial sales with the U.S. Department of Defense. The company’s latest purchase order appears to reflect only the beginning of potentially multiple recurring orders as they prepare for their first-ever production order for the U.S. DOD.

“As Teledyne-FLIR continues to win additional orders for its small-sized drone platforms with end users such as the U.S. DOD, other federal agencies, and commercial customers, Mobilicom is well positioned for more sales of its Skyhopper Pro,” stated Mobilicom CEO Oren Elkayam. “We see the sales of these systems to the U.S. DOD, one of the largest and most selective procurers of technology, as a strong testament to the excellence of Mobilicom’s market-leading end-to-end solutions.”

 

About SkyHopper PRO:
The SkyHopper PRO is a communication system for drones that ensures secure data transfer. It offers a number of advantages and customization compared to competitors, here’s a quick overview:

Cybersecurity: Prioritizes cybersecurity, ensuring the secure transfer of data between the drone and the ground control station. This feature helps protect sensitive information and prevents unauthorized access or interference.

Reliability: The system is designed to provide robust and reliable communication even in challenging environments. It supports long-range and non-line-of-sight communication, enabling seamless connectivity between the drone and the ground station, even when obstacles are present.

Versatility: Supports multiple transmission modes, including point-to-point and point-to-multipoint communication. This versatility enables various communication setups, such as multi-drone operations and communication to multiple receivers, enhancing flexibility in drone missions.

Industry Integration: Systems have been integrated into numerous design wins by drone and UAV manufacturers indicating their compatibility and suitability for a wide range of platforms. The proven track record of integration demonstrates the system’s adaptability and reliability.

End-to-End Solution: End-to-end solutions for cybersecurity and robust communication. This comprehensive approach ensures seamless integration, streamlined operations, and enhanced overall performance for drone missions.

About Mobilicom:
Mobilicom is a leading provider of end-to-end cybersecurity and robust solutions for drones and robotics. They focus on serving global manufacturers in these industries, offering patented Mobile Mesh networking technology and a proven portfolio of commercialized products. With a growing high-profile global customer base, including corporations, governments, and the military, Mobilicom stands out for its outstanding security capabilities and performance in harsh environments. They derive revenue from hardware and software sales, licensing fees, and professional support services.

About Teledyne Technologies (NYSE: TDY):
Teledyne Technologies is a global leader known for its innovative solutions in aerospace and defense, environmental sensing, and digital imaging. The company’s success stems from a strong emphasis on research and development, enabling them to introduce cutting-edge technologies and meet customer needs effectively. With a focus on quality and customer satisfaction, Teledyne Technologies has earned a solid reputation in the industry. Strategic acquisitions have further strengthened their capabilities, expanding their product offerings and market reach. Through adaptability and a commitment to delivering value, Teledyne Technologies has established itself as a prominent player in various verticals in multiple industries, ultimately paving the way for the company’s current $19B stature in the market.

We will update you on MOB when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Picture by Pexels from Pixabay

 

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