SOURCE: Progressive Care Inc

Progressive Care Inc

July 25, 2016 08:25 ET

Progressive Care: PharmCo Receives State Licenses From New Jersey and Pennsylvania

MIAMI, FL--(Marketwired - July 25, 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, announces the receipt of two new state licenses.

On July 21, 2016, the states of New Jersey and Pennsylvania granted non-resident pharmacy licenses to PharmCo, LLC. These licenses allow PharmCo to dispense traditional and compounded medications to the residents of these states from the Company's current facility. The Company is already conducting business in three other states: New York, Texas, and Florida.

"We are excited to have the opportunity to service patients in New Jersey and Pennsylvania and continue to build the PharmCo brand," stated S. Parikh Mars, CEO. "The Company has pending applications in numerous other states including Georgia and Illinios. We are looking forward to expanding our reach and delivering exceptional products and service to patients across the United States"

Common Shares Issued and Outstanding:

As of July 14, 2016 the number 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.