SOURCE: Progressive Care Inc.

Progressive Care Inc.

March 24, 2016 11:36 ET

Progressive Care Decreases Common Shares Outstanding by Over 3%

MIAMI, FL--(Marketwired - March 24, 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, issues an update on the number of shares outstanding.

Common Shares Issued and Outstanding:

We are pleased to announce that as of March 24, 2016 the number of shares of common stock issued and outstanding has decreased by 3.55% and now stands at 339,545,107. This amount is net of 1,718,000 shares of common stock, which is the number of shares beneficially owned by Progressive Care through PharmCo, LLC. The reduction in shares outstanding is due to the return and retirement of 12,497,938 shares of common stock previously issued to Tarpon Bay Partners.

The Company's current share structure does not include any derivative instruments such as convertible notes, convertible preferred, or other mechanism that would be dilutive to the shareholders.

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.