Progressive Care Initiates Process to Upgrade to OTCQB
MIAMI, FL -- May 12, 2017 -- InvestorsHub NewsWire --
Progressive Care Inc. (OTC
PINK: 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, the sale of anti-retroviral medications,
medication therapy management (MTM), and the supply of prescription
medications to long term care facilities, administration and
practice management, utilization management, quality assurance, EHR
Implementation, billing and coding, health practice risk
management, begins preparation for OTCQB upgrade.
Effective May 18, 2017, OTCMarkets will begin accepting
applications from alternative filing companies to upgrade listing
status to OTCQB. The qualifications for the OTCQB Venture Market
are current filing status, 1 year of PCAOB audited financial
statements, minimum bid price of $0.01, not subject to bankruptcy
or reorganization proceedings, 2 independent board members, and a
majority independent audit committee. Progressive has already begun
identifying qualified independent board members as well as begun
the application preparation.
The new requirements for OTCQB is welcomed news for the Company,
stated S. Parikh Mars, CEO. Over the years, we have strived for
transparency, accuracy, and truthfulness in all of our public
representations, which has separated us from the pack of OTCPink
listed companies. We are aware that our current listing status has
limited the ability of the investment community and our
shareholders to participate in our tremendous growth story. We
believe that a listing on OTCQB will provide us with the renewed
attention and access to institutional capital that will facilitate
our expansion agenda.
About Progressive Care
Progressive Care, Inc. (OTC
PINK: RXMD), through its subsidiary PharmCo, LLC, is a South
Florida health services organization and provider of prescription
pharmaceuticals specializing in health practice risk management,
compounded medications, the sale of anti-retroviral medications and
related medication therapy management, and the supply of
prescription medications to long term care facilities.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Companys
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words anticipate, believe, estimate, upcoming, plan,
target, intend and expect and similar expressions, as they relate
to Progressive Care Inc., its subsidiaries, or its management, are
intended to identify such forward-looking statements. These
forward-looking statements are based on information currently
available to the Company and are subject to a number of risks,
uncertainties, and other factors that could cause the Company's
actual results, performance, prospects, and opportunities to differ
materially from those expressed in, or implied by, these
forward-looking statements.
Contact
Armen Karapetyan
Senior Advisor Business Development
armen@progressivecareus.com