{"id":6500,"date":"2015-08-08T13:11:55","date_gmt":"2015-08-08T13:11:55","guid":{"rendered":"\/?p=6500"},"modified":"2015-08-08T13:39:24","modified_gmt":"2015-08-08T13:39:24","slug":"progressive-care-inc-otcmktsrxmd-jumps-on-profits-announcement","status":"publish","type":"post","link":"\/articles\/progressive-care-inc-otcmktsrxmd-jumps-on-profits-announcement\/","title":{"rendered":"Progressive Care Inc (OTCMKTS:RXMD) Jumps On Profits Announcement"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/90\/90974\/fsdafasfas.png\" border=\"0\" width=\"451\" height=\"201\" \/>Progressive Care Inc (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=RXMD\">RXMD<\/a>) was pushed 23.46% up the charts yesterday, after announcing the filing of the financial report for its first operationally profitable quarter in the last 5 years. The ticker is now seating comfortably on the penny threshold &ndash; but will this state of developments endure? <\/p>\n<p>Only time will tell, but at the end of the day, there are more than enough reasons to doubt that it will.<\/p>\n<p>True enough, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=RXMD\">RXMD<\/a>&#8216;s <\/strong>balance sheets currently look a lot better than they did a couple of months ago:<\/p>\n<ul>\n<li style=\"text-align: justify;\">Cash &#8211; $366 thousand<\/li>\n<li style=\"text-align: justify;\">Current Assets &ndash; $1.2 million<\/li>\n<li style=\"text-align: justify;\">Total Current Liabilities &#8211; $3 million<\/li>\n<li style=\"text-align: justify;\">Quarterly Net Sales &ndash; $3.3 million<\/li>\n<li style=\"text-align: justify;\">Quarterly Net Loss &#8211; $365 thousand<\/li>\n<\/ul>\n<p>Although said report shows obvious improvements, there are some obvious red flags as well. Investors should duly note that <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=RXMD\">RXMD<\/a> <\/strong>is still having trouble making ends meet. In spite of all the boasts, it is still in the red &ndash; and that is by far not its only shortcoming.<\/p>\n<p>As the report clearly states, it still has $1.4 MILLION worth of Notes payable, most of which can be converted into shares and dumped on the market, drowning investor value in the process.<\/p>\n<p>And, suffice it to say that, as a result of the ceaseless downpour of conversions, the company&#8217;s share structure looks even worse for wear now than it did four months ago:<\/p>\n<ul>\n<li>As of December 31, 2014 <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=RXMD\">RXMD<\/a> had 41 million shares of common stock<\/li>\n<li>As of June 30, 2015, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=RXMD\">RXMD<\/a> had 106 million shares of common stock<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: left;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/90\/90974\/fsdfsafas.jpg\" border=\"0\" width=\"179\" height=\"52\" \/>To summarize &ndash; <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=RXMD\">RXMD<\/a> <\/strong>investors really do seem to have something to be happy about this time around &ndash; but they also have a lot of pitfalls to be wary of. Rampant dilution is one of them, and a serious one at that &#8211; which is why caution is advised when dealing with <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=RXMD\">RXMD<\/a> <\/strong>stock.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Progressive Care Inc (OTCMKTS:RXMD) was pushed 23.46% up the charts yesterday, after announcing the filing of the financial report for its first operationally profitable quarter in the last 5 years. The ticker is now&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1717],"class_list":["post-6500","post","type-post","status-publish","format-standard","hentry","category-news","tag-rxmd"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6500"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6500\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}