PROGRESSIVE CARE INC - RXMD STOCK NEWS

Progressive Care Inc. (OTCQB: RXMD) announced the donation of 1,000 Thanksgiving turkeys to local residents in need. CEO Alan Jay Weisberg highlighted the logistical efforts involved in the initiative, aiming to support families reconnecting after the COVID-19 pandemic. The Company's commitment to community assistance is underscored by this donation, which addresses challenges stemming from supply chain disruptions in the poultry industry. Progressive Care emphasizes its role in enhancing community well-being through its charitable efforts.

Progressive Care Inc. (OTCQB: RXMD) reported significant financial growth for Q3 2021, with net income increasing by 137% year-over-year. EBITDA rose 136% during the same period, reaching nearly $695k. Consolidated net revenues reached $9.8 million for the quarter, while gross margins improved to 30%, up from 27% in Q3 2020. The company attributed success to its 340B pharmacy services, third-party administration, and COVID-19 testing. Progressive Care is also pursuing a NASDAQ uplist through a filed registration statement on Form S-1.

Progressive Care Inc. (OTCQB: RXMD) announced an investor conference call scheduled for November 15, 2021, at 4:30 PM ET. CEO Alan Jay Weisberg described the third quarter as challenging yet productive, with the successful deployment of a new pharmacy system and record revenues from COVID-19 testing. The company has partnered with The Benchmark Company for investment banking services, aiming for a Nasdaq listing. Attendees can submit questions for the call, and a replay will be available post-event.

Progressive Care Inc. (OTCQB:RXMD) reported a solid financial performance for Q2 and first half of 2021, with consolidated revenue of approximately $9.6 million for the quarter and $19.2 million for six months, marking year-over-year increases of 4% and 5%, respectively. Gross profits surged to over $2.6 million for Q2, a 43% rise from 2020. The 340B revenue climbed by 65% year-over-year to about $725k, while COVID testing revenue soared by over 120%. Positive EBITDA of nearly $78k was achieved in Q2, compared to a loss of $311k in 2020. Challenges included temporary prescription volume setbacks due to tech transition and workforce shortages.

Progressive Care Inc. (OTCQB: RXMD) announced an investor conference call scheduled for August 16, 2021, at 4:30 PM ET. The call aims to share operating results and discuss the company's role in combating COVID-19 through a technology-driven healthcare ecosystem that provides vaccinations and testing resources. CEO Alan Jay Weisberg highlighted the importance of these services for compliance and risk mitigation in data-driven healthcare settings. Questions for the call can be submitted until August 13, 2021.

Progressive Care Inc. (OTCQB:RXMD) has launched the myVax Passport app, developed with EagleForce Health, to enhance COVID-19 testing and vaccination data management. The app allows PharmCoRx to securely upload and store users' data, automatically reporting it to the Florida Department of Health. Patients benefit from contactless testing and swift result delivery, with nearly 10,000 tests administered in the first half of 2021. The service aims to simplify health record storage and includes future telehealth capabilities, positioning Progressive Care as a leader in digital health services.

Progressive Care Inc. (OTCQB: RXMD) has announced that it is now accepting Bitcoin for COVID-19 Rapid Testing services at its PharmcoRx locations. CEO Alan Jay Weisberg stated this initiative aims to cater to post-pandemic tourists and those choosing alternative payment methods. The decision coincides with a major Bitcoin conference attracting over 50,000 visitors in Miami. PharmcoRx has conducted over 10,000 COVID-19 tests, generating over $1 million in testing revenues. This move enhances accessibility for Bitcoin users seeking essential testing services.

Progressive Care Inc. (OTCQB: RXMD) has announced that its Board decided against proceeding with a reverse stock split, which was approved by shareholders in December 2020. The split was intended to facilitate a national exchange listing and attract institutional investors. However, due to unfavorable market conditions and the nearing expiration of the Board's authority, the timing was deemed inappropriate. The company remains focused on becoming an SEC-reporting issuer and aims to complete its uplist to a national exchange.

Progressive Care, Inc. (RXMD) will present at the Emerging Growth Conference on May 26, 2021, at 11:30 AM Eastern time. CEO Alan Jay Weisberg will lead a 30-minute presentation and engage with shareholders and the investment community through a Q&A session. This event allows for real-time interaction and will be accessible online, with an archived webinar available post-event. The Emerging Growth Conference focuses on public companies in various growth sectors, offering a platform to showcase products and services.