Progressive Care Inc. (OTCMKTS:RXMD) Is On The Move Again
It’s always the same with Progressive Care Inc. (OTCMKTS:RXMD) – yesterday it made one of its signature PR jumps, adding 27.06% to its market value and managing to finally climb above a penny once more. But is it any good for investors now?
Well, it certainly seems so according to the company’s press releases. Each and every one of them lately seems to be a revenue record announcement. However, those should probably be taken with a grain of salt, as they tend to present just one side of the story.
For instance, just ten days ago the company published a PR praising the fourth profitable quarter in a row for PharmaCo LLC. Well, PharmaCo may technically be profitable, but RXMD is still operating at a loss, according to its latest financial report that hit the web on the same day:
- Total Current Assets – $1.3 million
- Total Current Liabilities – $2 million
- Quarterly Sales – $3.3 million
- Quarterly Net Loss – $160 thousand
Unfortunately, the report showed investors more than that. It added another number to the company’s unenviable track record of share issuance, and as a result its share structure statistic over the last two years looks like this:
- As of December 31, 2013 RXMD had 28 million shares of common stock
- As of December 31, 2014 RXMD had 41 million shares of common stock
- As of March 31, 2015 RXMD had 65 million shares of common stock
- As of June 30, 2015 RXMD had 105 million shares of common stock
- As of September 30, 2015 RXMD had 225.6 MILLION shares of common stock
Investors are advised to punch those numbers into a calculator and see if they like what comes out before committing to RXMD stock.
Long story short – RXMD is boastful about its steps forward, and its publicity affords volatility, but investors should also note the huge red flag that its rampant dilution represents.
