Progressive Care Inc. RXMD
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Progressive Care, Inc. (RXMD)
updated January 6, 2016
Company Website: http://www.progressivecareus.com/
COMPANY OVERVIEW
Progressive Care Inc., through its subsidiary PharmCo, LLC, is a South Florida provider of prescription pharmaceuticals, which specializes in anti-retroviral patient management, long term care, and durable medical equipment (DME). The Company, is focused on developing the PharmCo brand and adding business elements that cater to specific under-served markets and demographics. This effort includes community and network based marketing strategies, introduction of new locations, acquisitions, and strategic collaborations with community, government, and charitable organizations.
MISSION STATEMENT
As a company that specializes in the service of patients with special needs, our mission is to treat these patients with the utmost of care, privacy and respect. Progressive Care is devoted to improving the quality of life of all patients through increasing access to vital medications and equipment, raising awareness, and providing education and other services to local communities and long term care institutions.
Progressive Care Inc., through its subsidiary PharmCo, LLC, is a South Florida provider of prescription pharmaceuticals, which specializes in anti-retroviral patient management, long term care, and durable medical equipment (DME). The Company, is focused on developing the PharmCo brand and adding business elements that cater to specific under-served markets and demographics. This effort includes community and network based marketing strategies, introduction of new locations, acquisitions, and strategic collaborations with community, government, and charitable organizations.
MISSION STATEMENT
As a company that specializes in the service of patients with special needs, our mission is to treat these patients with the utmost of care, privacy and respect. Progressive Care is devoted to improving the quality of life of all patients through increasing access to vital medications and equipment, raising awareness, and providing education and other services to local communities and long term care institutions.
PharmCo website: http://www.pharmcopharmacy.com/
PharmCo, LLC is a wholly-owned subsidiary of Progressive Care, Inc.
About PharmCo
PharmCo, LLC was established in 2006 as Florida Limited Liability Corporation with the goal of becoming a premier pharmacy in the South Florida community. The past 6 years has brought about dramatic changes for the pharmacy from becoming part of a publicly traded company (Progressive Care, Inc.) in 2010 to specializing in the care and management of patients with special needs. PharmCo prides itself on the level of service it provides to individuals and institutions in need of anti-viral medications, durable medical equipment, and long term care. The company is dedicated to treating its customers with compassion, professionalism, privacy and respect with a commitment to education, support and community outreach.
Contact Info
901 N Miami Beach Blvd
Suite 1-2
North Miami Beach, FL 33162
Phone: 305-919-7399
Email: Investors@progressivecareus.com
901 N Miami Beach Blvd
Suite 1-2
North Miami Beach, FL 33162
Phone: 305-919-7399
Email: Investors@progressivecareus.com
Quote:
(December 9, 2015)
SHARE STRUCTURE & CAPITALIZATION
Share Price: $0.020 (12/31/2015)
Market Cap: $7.0M with PPS = 0.020 (12/31/2015)
Shares Outstanding: 352,043,045
Authorized Shares: 500,000,000
Insider Shares: 45,209,107
Float Shares: 306,833,938
(December 9, 2015)
REVENUE & DEBT
Revenue (annualized): $15.6M based on Nov2015 revenue of $1.3M
YoY and QoQ revenue consistently increasing by 20-30% over past 3 years
Total Debt: $25k only debt is note kept on record for holder that cannot be reached - may be deceased
Convertible Debt: $0
Investor Relations Contact
901 N Miami Beach Blvd
Ste 1-2
North Miami Beach, FL 33162
786-657-2060
investors@progressivecareus.com
Transfer Agent
Computershare
8742 Lucent Blvd
Suite 225
Highlands Ranch, CO 80129
303-262-0678
Developing News & Coming Events
- Investor Relations indicated that Open Letter to Shareholders is expected to be released during the week of Jan 4, 2016 ; also, that the letter will be in a similar format to the Letter released to the OTC Markets website on December 29, 2014 , including company expectations for 2016.
- Removal of the yield sign on OTC Markets and the change in the designation for Progressive Care, Inc. (RXMD) from "OTC Pink Limited Information" to "OTC Pink Current Information" is pending; the action may become effective at any time.
Current News Summary & Status
- Progressive Care Names Shital Mars Chief Executive Officer . Ms. Mars, who currently serves as the Chief Operating Officer, will succeed Alan Jay Weisberg as of January 4, 2016 . Mr. Weisberg will remain the Chief Financial Officer of the Company as well as Chairman of the Board of Directors.
- Updated Attorney Letter submitted to OTC Markets Jan 6, 2016 - this is for OTC Markets yield sign removal, and designation for Progressive Care, Inc. [RXMD] to be changed from "OTC Pink Limited Information" to "OTC Pink Current Information".
- Progressive Care, Inc. (RXMD) issued 282,275,000 shares of common stock from Q4-2014 through Q4-2015 in a 3(a)(10) transaction to clear all debt from the balance sheet . The company announced the closing of the 3(a)(10) transaction and the clean balance sheet on Dec 10, 2015 . Effects of the debt payoff on financials can be seen in charts below.
Recent News
Jan 5, 2016... Progressive Care Names Shital Mars Chief Executive Officer
Dec 14, 2015... Progressive Care Reaches Record $1.3 Million in Pharmacy Revenues in November
Dec 10, 2015... Progressive Care Inc. Completes 3(a)(10) Transaction
Dec 02, 2015... Progressive Care Inc.: PharmCo Joins Fight Against Turing Pharmaceuticals With Low-Cost Daraprim Alternative
Nov 24, 2015... Progressive Care Inc. Reports Positive Response From New York Road Show
Nov 17, 2015... Progressive Care Closes October With Strong Year-Over-Year Performance
Nov 10, 2015... Progressive Care: PharmCo, LLC Delivers Fourth Consecutive Quarter of Profitability
Oct 13, 2015... Progressive Care's Strong Third Quarter Brings Revenues to $10 Million
Sep 10, 2015... Progressive Care Continues Record Breaking Run in August
Aug 29, 2015... Progressive Care Announces Record Prescription Sales for July 2015
Latest Filing(s)
Jan 6, 2016... Attorney Letter with Respect to Current Information
Jan 5, 2016... Material Agreement Mars CEO 01.05.2015.docx.pdf
Jan 4, 2016... Officer/Director/Affiliate Stock Transactions
Nov 10, 2015... Quarterly Report - CONSOLIDATED FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 2015
Click here to access all filings on the OTC Markets website
The following financial data was compiled by a shareholder, MoneyForNuthin, from quarterly and annual reports filed by Progressive Care, Inc. to OTC Markets. MoneyForNuthin is not affiliated with the company. Projections made in green text (spreadsheets) and green chart line extensions for Q4 2015 data points are made by MoneyForNuthin - these projections did NOT originate from Progressive Care, Inc. This information is provided as an aid to investors for their due diligence, and is not intended to be used directly as a guide for investing. Do your own DD, trade at your own risk.
Composite Balance Sheet (with nominal projection for December 31, 2015 cash position)
contributed by shareholder, derived from company financial filings
Zero Debt (debt payoff close-up - showing paydown over 2015 quarterlies )
contributed by shareholder, derived from company financial filings
The following photo is a street view screen shot from Google on December 15, 2015
The following images are recent photos after makeover of storefront, processing and office areas in Autumn 2015
The following pics contributed by RXMD shareholder on November 13, 2015
Compounding Room:
Drug Room:
Prescription Filling Area:
Back Office - roughly 8-10 workstations throughout the whole room that looked to be "lived in" by employees that have been there for a while:
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