MIAMI, FL -- December 17, 2020 -- InvestorsHub NewsWire
-- On December 14, 2020, Progressive Care, Inc. (the
“Company”) held a special meeting of its stockholders (the “Special
Meeting”). The record date for stockholders entitled to notice of,
and to vote at, the Special Meeting was October 23, 2020. At the
close of business on that date, the Company had 470,272,862 shares
of common stock, par value $0.0001 (“Common Stock”) outstanding and
51 shares of Series A Super-Voting preferred stock (“Preferred
Stock”) outstanding, and entitled to be voted at the Special
Meeting. At the Special Meeting, the following four proposals were
submitted to the Company’s stockholders:
1. To approve an amendment to the Company’s Certificate of
Incorporation to effect, on or before June 30, 2021 a reverse split
of Progressive Care’s issued and outstanding common stock at a
ratio of between 1-for-20 to 1-for-300 if and when and at such
ratio as may be determined by the Company’s Board of Directors
(“Proposal 1”);
2. To approve an amendment to the Company’s Certificate of
Incorporation to opt-out of Section 203 of the Delaware Corporate
Law (“Proposal 2”);
3. To approve the Progressive Care, Inc. Stock Incentive Plan
(“Proposal 3”); and
4. To approve the adjournment of the Special Meeting, if
necessary, to solicit additional proxies if there are not
sufficient votes in favor of the foregoing proposals (“Proposal
4”).
The final voting results were as follows:
Proposal 1
The Company’s stockholders approved Proposal 1. 276,367,898
shares of Common Stock and 51 shares of Preferred Stock voted in
favor of approval of the resolution, 132,571,442 shares of Common
Stock and 0 shares of Preferred Stock voted against approval of the
resolution and 2,844,785 shares of Common Stock and 0 shares of
Preferred Stock abstained from voting for the approval of the
resolution.
Proposal 2
The Company’s stockholders did not approve Proposal 2.
216,021,235 shares of Common Stock and 51 shares of Preferred Stock
voted in favor of approval of the resolution of Proposal 2,
62,258,534 shares of Common Stock and 0 shares of Preferred Stock
have voted against approval of the resolution and 12,506,150 shares
of Common Stock and 0 shares of Preferred Stock have abstained from
voting for the approval of the resolution.
Proposal 3
The Company’s stockholders approved Proposal 3. 203,375,622
shares of Common Stock voted in favor of approval of Proposal 3,
84,194,643 shares of Common Stock have voted against approval of
the resolution and 3,215,654 shares of Common Stock have abstained
from voting for the approval of the resolution.
Proposal 4
The Company’s stockholders approved Proposal 4. 297,112,539
shares of Common Stock and 51 shares of Preferred Stock have been
voted in favor of approval of the Proposal 4, 115,250,009 shares of
Common Stock and 0 shares of Preferred Stock have voted against
approval of the resolution and 5,059,899 shares of Common Stock and
0 shares of Preferred Stock have abstained from voting for the
approval of the resolution.
For more information about Progressive Care, please visit the
company’s website. Connect and stay in touch with us on social
media:
Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo Rx
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
ClearMetrX
https://www.clearmetrx.com/
https://www.facebook.com/clearmetrx/
About Progressive Care: Progressive Care Inc. (OTCQB:
RXMD), through its subsidiaries, is a 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, and health practice risk management.
Cautionary Statement Regarding Forward-Looking 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 Company’s expectations
about its future operating results, performance, and opportunities
that involve substantial risks and uncertainties. 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.
Public Relations Contact:
Carlos Rangel
carlosr@pharmcorx.com
Progressive Care (QB) (USOTC:RXMD)
Historical Stock Chart
From Feb 2024 to Mar 2024
Progressive Care (QB) (USOTC:RXMD)
Historical Stock Chart
From Mar 2023 to Mar 2024