Connect with us

Media & Technology

Progressive Care Inc (OTCMKTS:RXMD) Reverse is Good

Published

4 years ago

on

Progressive Care Inc (OTCMKTS:RXMD) started 2018 with a bang skyrocketing from its $0.03 base to highs over $0.25 per share. Since than RXMD has come back down and is currently treading water just below the $0.05 mark. With enormous revenue and an ambitious plan to up list to a major exchange shareholders are wondering how RXMD will play out for them.

Microcapdaily has been reporting on RXMD for years, back on January 8, 2015 we stated: “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.

Progressive Care Inc (OTCMKTS:RXMD) through its subsidiaries, is a Florida health services organization and provider of prescription pharmaceuticals. The Company now 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 contributed articles published in prestigious online magazines such as Forbes, Authority, HuffPost, and Fast Company. PharmCo Rx is licensed in Colorado, Connecticut, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Pennsylvania, Texas, Utah, Arizona, Massachusetts and Minnesota.

Progressive Care wholly owned subsidiary PharmCo Rx Pharmacy:

PharmCo Rx Pharmacy is a full-service pharmacy that is unlike any other pharmacy in South Florida. We provide each individual patient with a dedicated, highly qualified team to ensure that the respective needs of all our patients are met quickly and affordably. We are completely dedicated to serving our communities at all times. We proudly support Empower “U¨, PRIDE, Care Resources and many other charitable organizations throughout South Florida. The PharmCo team supports organizations of all religions and faiths, working to bring supplies, food, education and information to all people in need. PharmCo is pleased to sponsor health fairs and local outreach programs in all communities throughout South Florida.

The big story on RXMD is the enormous sales:

On January 16 RXMD updated shareholders on the Company’s operational performance update for the month of December 2019: Consolidated monthly gross sales across all locations totaled $3.1 million, representing year-over-year growth of 82% compared to December 2018, prescriptions filled during the month came in at roughly 45,000, representing year-over-year growth of 59% compared to December 2018,

December performance brings 2019 sales to a close at $32.25 million (up 54% year-over-year) on more than 450,000 prescriptions filled (up 50% year-over-year), with Family Physicians Rx (FPRX) contributing from June 1 through December 31, 2019.

RXMD reported consolidated monthly gross sales across all locations for January 2020 totaled $3.05 million, representing year-over-year growth of 60.5% compared to January 2019.

“We closed out 2019 with another month of tremendous growth and execution,” commented S. Parikh Mars, CEO of Progressive Care. “December featured organic same-store growth in our core footprint in both sales and cash flows as well as additional strength from our seamless integration of recently acquired FPRX, which has begun to move the needle on all fronts. If we back the FPRX impact on an annualized basis into 2019, that gives us a baseline of $38 million in annual sales as a point of reference from which to grow in 2020.”

To Find out the inside Scoop on RXMD Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

RXMD

RXMD has made great progress over the years, we reported in January 2016 on RXMD – The Elephant in the room on RXMD had been their inability to get their filings completed which resulted in the stock landing on the Pink Sheets with the yield designation from OTCMarkets. This along with debt holders converting their paper resulted in a seriously depressed stock price.

RXMD is now OTCQB and is planning to up list to a national exchange recently reporting: In addition, the Company has already begun the audit of 2019 financial data for all consolidated operations. The process associated with up listing Progressive Care shares onto a major US-listed exchange in 2020 continues to move forward. Audited financials will be submitted on or before March 31. The Company will then move to formally file Form S-1 with the US Securities and Exchange Commission during April before submitting an application for up listing shares to either the Nasdaq or NYSE.

CEO Shital Parikh Mars recently stated on up listing: “Yes. So the ultimate goal has always been to become fully SEC reporting and list on NASDAQ. We think that is the right place and right path for us to go. And we think healthcare is ripe for that change and we think there’s a lot of competition and opportunity in the marketplace for a company like ours to create something special and unique and worthy of being on NASDAQ. We also know that we want to have the right vehicle for it. So it’s not something we want to do just as we are today. We want to evolve into that NASDAQ worthy company, and we are putting all the staff in place, all the factors, all the personnel and resources in place right now to get us to there as our end goal.”

The CEO of Progressive Care 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.

We have a Monster Pick Coming. Subscribe Right Now!

Microcapdaily reported on RXMD back on October 3, 2016 – Currently trading at a $10 million market valuation RXMD continues to have difficulty getting their filings out in a timely manner.  But RXMD is an exciting story developing in small caps; the Company has continued to report stellar revenue growth now doing over $10 million in annual sales which is rare on the bb’s. As I said this one has a history of parabolic short term gains and its easy to see why, the stock has everything, a large and loyal investor base, huge built in liquidity and continued spectacular sales growth.

RXMD has achieved all the listing requirements neccessary to uplist to either the NYSE or NASDAQ except for 1 and that is the $4 per share minimum bid requirement (NASDAQ can be $2 under certain conditions)

There is a lot of discussion going around on RS and while RXMD has not addressed this issue I wanted to add my own opinoin: everyone seems to think that RS is bad and usually results in lower PPS as the result of panic selling etc., but if we really examine the issue we come to an entirely different conclusion. Yes in almost all cases when a non-revenue, sub penny co with a history of dilution does another RS it almost always ends in more downside. And this is the only logical outcome; if management is doing a RS so they can continue to further dilute shareholders why would any shareholder not sell.

At the other end of the spectrum when an established Company such as RXMD that already does significant revenues does a RS it almost always results in significant moves to the upside; let’s look at some recent established Company RS examples; CTSO did a 25 for 1 RS on December 1, 2014 the stock opened after the RS at just over $4 a share and quickly ran to over $12 in 3 weeks. Another established Company RS was SIAF which did a 9.9 for 1 RS on December 16, 2014 the stock opened after the RS at just over $6 a share and was trading over $9 by the next day. Even if we look back farther and take MSLP (which had many similarities to RXMD when it traded for pennies) which did a 850 for 1 RS on November 26, 2012 opened after the RS at just over $4 and was trading over $12 a share within 6 months. So I reject the general consensus that is going around that RS will result in a dropping PPS; on the contrary RS could be the catalyst that takes this one to the next level. 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.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

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

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Featured

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

Published

1 week ago

on

September 22, 2023

By

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.

Subscribe to Microcapdaily.com Right Now by entering your Email in the box below. 

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

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!

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

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

 

Continue Reading

Featured

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

Published

1 month ago

on

August 23, 2023

By

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.

Subscribe to Microcapdaily.com Right Now by entering your Email in the box below. 

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

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!

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

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

Continue Reading

Featured

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

Published

3 months ago

on

July 10, 2023

By

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.

Subscribe to Microcapdaily.com Right Now by entering your Email in the box below. 

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

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!

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

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

 

Continue Reading

Trending

© All rights reserved.

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.