SOURCE: Trxade Group, Inc.

Trxade Group, Inc.

July 31, 2015 09:00 ET

Trxade Group, Inc. Reports Q2 Results

With S2P Revenues Up 46%, Gross Profit 69% From Q1 2015

TAMPA, FL--(Marketwired - Jul 31, 2015) - Trxade Group, Inc. (OTCQB: TRXD), a web-based pharmaceutical company engaged in promoting and enabling trade among independent pharmacies and large pharmaceutical suppliers nationally, announced today its financial and operational results for second quarter of 2015.

Second quarter results reflect a solid 46% growth over first quarter transactional revenue for our supplier-to-pharmacy trading (S2P). Our Network continues to expand rapidly, adding 619 new pharmacies in second quarter. "We are pleased with the significant progress we made in the second quarter 2015. Launching new products, such as Bulk Upload, and crossing 4,100 registered pharmacies on our platform was a major milestone. We are encouraged by the early feedback received from these independent pharmacies on the Bulk Upload product. These services provide significant savings to our network pharmacies and this will continue to be the driving force for adoption of our services as our network continues to grow," said Suren Ajjarapu, Chief Executive Officer.

Mr. Ajjarapu continues, "We enter in to the third quarter of 2015 well positioned across our products from a marketing and improved online experience standpoint and are very excited about our private label distribution plans. We expect the impressive growth rate of our Network to continue, and that is the key to our success moving forward. Shareholders should remain focused on our execution of our business goals as we continue to drive shareholder value."

HIGHLIGHTS FOR THE THREE MONTHS ENDED JUNE 30TH, 2015.

  • Revenue for the three-month period ended June 30, 2015 and 2014 was $1,167,195 and $287,717, respectively.
  • Gross profit from the three-month period ended June 30, 2015 and 2014 was $785,191 compared to $236,531, respectively. 
  • The net operating loss for the three-month period ended June 30, 2015 and 2014 was $(54,356) and $(301,021), respectively. 
  • Basic Loss per Common Share for the three-month period ended June 30, 2015 and 2014 was $0.00 and $(0.01), respectively.

OTHER Q2 2015 OPERATIONAL HIGHLIGHTS:

  • New Look and feel of our platform and new apps launched -- Bulk Upload and RxGuru
  • At June 30th, 2015, over 4,100 Independent Pharmacies have been validated on our S2P (Supplier to Pharmacy) platform
  • At June 30th, 2015, over 2,000 Pharmacies are trading on our P2P (Pharmacy to Pharmacy) platform
  • Vice President of operations Mr. Derek Bodart joined the company to supervise our warehouse operations

About Trxade Group, Inc.

Headquartered in Tampa, Florida, Trxade Group, Inc. is a web based market platform that enables trade among healthcare buyers and sellers of pharmaceuticals, accessories and services. Founded in 2010, Trxade Group currently operates the trading platform with 4,100 registered members. Trxade Group also distributes directly generic pharmaceuticals through their wholly-owned subsidiary Westminster Pharmaceuticals to these registered members. For additional information please visit us at http://www.trxadegroup.com/

Disclaimer & Forward-Looking Statements

All statements in this press release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Company's control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under Item 1A "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014. The Company operates in a highly competitive and rapidly changing environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statements. Readers are also urged to carefully review and consider the other various disclosures in the Company's public filings with the SEC.

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