Progressive Care Inc (OTCMKTS:RXMD) is on the run making an explosive move up on recent days on accelerating volume. RXMD has an important resistance level at $0.054 which could act as a massive catalyst once it is broken.
RXMD continues to move up steadily over the long term since trading as low as $0.0048 last year and it´s easy to see why, RXMD has everything, a large and loyal investor base, huge built in liquidity and continued spectacular growth in Revenues.
Progressive Care Inc (OTCMKTS:RXMD) operates through its subsidiary PharmCo, LLC as a brick and mortar South Florida provider of prescription pharmaceuticals. The Company specializes in health practice risk management, the sale of anti-retroviral medications and related medication therapy management, the sale and rental of durable medical equipment (“DME”) and the supply of prescription medications to long term care facilities.
In October RXMD announced they filled over 17,000 prescriptions during the month, which is a 28% increase over the same month last year and 3.4% higher than last month. Through the third quarter of this year, PharmCo filled over 50,000 prescriptions marking the best sales quarter for the company to date.
Revenues for the quarter also were the highest since the company’s inception. In the third quarter of 2015, the company posted a 14% increase over the same quarter last year at approximately $3.3 million. Through the first nine months of this year the company reached nearly $10 million in revenues, achieved positive cash flow and operating profitability.
COO Shital Parikh Mars said “This year we have been able to truly capitalize on PharmCo’s status as an industry leader in providing unmatched products and services. Our marketing efforts to healthcare institutions has proved fruitful in advancing the company’s financial position as well cementing PharmCo as a preferred pharmacy for insurance carriers. As we enter our busiest quarter, we are excited to grow our operation and expand on our success.”
To Find out the inside Scoop on RXMD Subscribe to Microcapdaily.com Right Now by entering your Email in the box below
The Elephant in the room on RXMD had been their inability to get their filings completed which resulted the stock going from fully reporting OTCBB to Pink Sheets with the yield designation from OTCMarkets. This along with debt holders converting their paper resulted in a seriously depressed stock price.
Earlier this month RXMD announced four consecutive quarters of profitability for PharmCo, LLC. Through the first nine months of 2015, PharmCo, LLC has recorded nearly $350,000 in net income. This is a significant turnaround when compared to net losses of $114,000 for PharmCo during the same time period in 2014. PharmCo has recorded profits in every quarter for the past 12 months.
Profitability and positive cash flow in PharmCo has been achieved through concentrated marketing efforts, expansion of the compounded medication department and month over month of net increases in prescription sales. Progressive Care’s consolidated income was nearly break even in the third quarter when adjusted for stock based compensation of $147,000.
On September 13 RXMD announced record setting month of August 2016. PharmCo beats previous company sales and revenue records by over 10% during the month of August 2016. The Company filled well over 20,000 prescriptions during the month, an increase of 22% over the same month last year. Revenues on prescriptions filled also reached an all-time high for a single month at $1.75 million. This achievement is a 47% increase over August 2015. The Company is capitalizing on increased demand for its services from independent clinics, physician offices and long term care facilities.
Construction has also begun on the warehouse space. The company expects completion of the space by the end of October 2016 and the ScriptPro automation system to be installed the first week of November.
We have a Monster Pick Coming. Subscribe Right Now!
Currently trading at a $10 million market valuation RXMD continues to have difficulty getting their filings our 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. 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.