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Earning a current market cap value of $23.6M, RXMD


Progressive Care Inc (OTCMKTS:RXMD) has been breaking out in a big way. Shares of the stock just broke above their 2016 highs around the nickel level. Volume has been strong, and the technicals line up as a clear and powerful breakout move that should have plenty of technicians involved or on high alert. That said, the fundamental catalyst for the recent run is not overly convincing.

Progressive Care Inc (OTCMKTS:RXMD), through its subsidiary Pharmco LLC, trumpets itself as a company that provides prescription pharmaceuticals to individuals and institutions in South Florida.

It also provides long-term care solutions to skilled nursing facilities, assisted living facilities, retirement centers and communities, doctors’ offices, and clinics. In addition, the company purchases, repackages, and dispenses prescription and non-prescription pharmaceutical products for its long-term care customers.

According to company materials, “Progressive Care Inc. (OTCQB:RXMD), through its subsidiaries Smart Medical Alliance, Inc. and PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long-term care facilities, administration and practice management, utilization management, quality assurance, EHR Implementation, billing and coding, and health practice risk management.”

“We are committed to evolving the pharmacy both operationally and technologically,” stated S. Parikh Mars, CEO.  “PharmCo will be one of the few pharmacies in the country enabling systems for cryptocurrency acceptance. The main purpose of accepting Bitcoin payments is to provide value to the end customer by aligning ourselves with the current lifestyles of a large and rapidly growing demographic using this cryptocurrency within the community.”

Earning a current market cap value of $23.6M, RXMD has a stash ($600K) of cash on the books, which is balanced by about $342K in total current liabilities. One should also note that debt has been growing over recent quarters. RXMD is pulling in trailing 12-month revenues of $20.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 5.4%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $RXMD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

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