Posted On: 01/11/2016 2:02:17 AM
Post# of 1525
Progressive Care has broken strongly out of the startup stage as a unique health services business and is strategically positioning its wholly owned subsidiary PharmCo as an upcoming national brand - expanding the market and customer base in south Florida, and this year looking to expand upward into the eastern coastal states through acquisition.
The company is now profitable and has cleared all debt from the balance sheet in 2015. Debt was accumulated from initial founding in 2007 through 2014, while building a strong core business and consistently increasing year over year revenue, to the current level of ~$15M (annualized).
The company is currently at $15M net sales with a market cap of only $6.65M. Part of this is due to a previously depressed pps while the stock was being diluted to pay down the debt, in combination with the prior "OTC Pink Limited Info" status (yield sign on OTC Markets). A price correction is ongoing since the "zero debt" milestone in December, and the yield sign was removed just last week on Jan 8 as RXMD was upgraded to "Current Information."
The COO was just promoted to CEO after a solid performance as COO, and will be agressively pursuing the vision of PharmCo as a national brand through 2016 and beyond.
As a profitable business in a high-demand, high-growth, high-margin market with zero debt and a flawless record of QoQ and YoY revenue growth over the past 3 years, Progressive Care is well-positioned to replicate the PharmCo "franchise" model to achieve this national PharmCo brand vision.
The company is now profitable and has cleared all debt from the balance sheet in 2015. Debt was accumulated from initial founding in 2007 through 2014, while building a strong core business and consistently increasing year over year revenue, to the current level of ~$15M (annualized).
The company is currently at $15M net sales with a market cap of only $6.65M. Part of this is due to a previously depressed pps while the stock was being diluted to pay down the debt, in combination with the prior "OTC Pink Limited Info" status (yield sign on OTC Markets). A price correction is ongoing since the "zero debt" milestone in December, and the yield sign was removed just last week on Jan 8 as RXMD was upgraded to "Current Information."
The COO was just promoted to CEO after a solid performance as COO, and will be agressively pursuing the vision of PharmCo as a national brand through 2016 and beyond.
As a profitable business in a high-demand, high-growth, high-margin market with zero debt and a flawless record of QoQ and YoY revenue growth over the past 3 years, Progressive Care is well-positioned to replicate the PharmCo "franchise" model to achieve this national PharmCo brand vision.
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