SOURCE: Progressive Care Inc

Progressive Care Inc

November 22, 2016 12:32 ET

Progressive Care: Conference Call Recap

MIAMI, FL--(Marketwired - November 22, 2016) - Progressive Care Inc. (OTC PINK: RXMD), through its subsidiary Pharmco LLC, a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities, recaps the Third Quarter Results Conference Call.

On Monday, November 21, 2016, the Company reported the results from the third quarter of 2016. To recap some of the highlights from the call:

  • The Company reported better than expected results with positive cash flows, positive earnings through the first nine months of 2016 and accelerated revenue growth.
  • The Company reported increasing demand for its specialized services due to the Company's expertise in the complicated healthcare industry.
  • The Company announced receiving a non-resident state pharmacy license from Colorado effective November 11, 2016.
  • The Company announced the ScriptPro Automation System has been installed in the recently built-out warehouse space and is fully operational.
  • The Company spoke about a new operating business, Smart Medical Alliance, which is currently delivering management services to healthcare organizations in South Florida. Smart Medical is expected to become profitable in the next three-six months.
  • The Company discussed short and long terms plans for uplisting from the OTC PINK:
    • Perform an Audit of the 2016 Annual Report
    • Uplist within OTC Markets AND/OR Uplist through an M&A Transaction to NASDAQ by 2018.

If you missed any of the information presented, a link to the Conference Call Archive will be available at www.progressivecareus.com/investor.

The Company will issue October 2016 results on Monday, November 28, 2016.

Common Shares Issued and Outstanding:

As of November 22, 2016 the number of shares of common stock issued and outstanding stood at 341,107,607 shares. This amount is net of the number of shares owned by PharmCo, LLC of 1,718,000.

About Progressive Care

Progressive Care, Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities.

Cautionary Statement Regarding Forward Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.