MIAMI, FL -- Dec. 09, 2021 -- InvestorsHub NewsWire -- On
December 3, 2021, Progressive Care Inc. (the “Company” or
“Progressive Care”) 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 November 3,
2021. At the close of business on that date, the Company had
535,430,294 shares of common stock, par value $0.0001 (“Common
Stock”) outstanding and 51 shares of Series A Preferred Stock
(“Preferred Stock”) outstanding, and entitled to be voted at the
Special Meeting. At the Special Meeting, the following three
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 February 16, 2023, a reverse
split of the Company’s issued and outstanding common stock at a
ratio of between 1-for-10 to 1-for-250 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, if and only if Proposal No. 1 is both approved and
implemented, to change the number of authorized shares of the
Company’s common stock from 1 billion (1,000,000,000) to 100
million (100,000,000) (“Proposal 2”); and
3. 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
3”).
The final voting results were as follows:
Proposal 1
The Company’s stockholders approved Proposal 1. 259,216,375
shares of Common Stock and 51 shares of Preferred Stock voted in
favor of approval of the resolution, 88,388,079 shares of Common
Stock and 0 shares of Preferred Stock voted against approval of the
resolution, and 5,318,354 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 approved Proposal 2. 183,520,010
shares of Common Stock and 51 shares of Preferred Stock voted in
favor of approval of the resolution, 53,039,600 shares of Common
Stock and 0 shares of Preferred Stock have voted against approval
of the resolution, and 10,111,762 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. 284,433,452
shares of Common Stock and 51 shares of Preferred Stock have been
voted in favor of approval of the resolution, 57,690,777 shares of
Common Stock and 0 shares of Preferred Stock have voted against
approval of the resolution, and 10,789,181 shares of Common Stock
and 0 shares of Preferred Stock have abstained from voting for the
approval of the resolution.
Mr. Alan Jay Weisberg, CEO, and Chairman of the Board, said, “I
would like to express my appreciation to our shareholders for
trusting the Company’s Board and voting to approve the Company’s
recommendations. This vote will allow the Company to continue
moving towards accomplishing its goals of becoming a fully
reporting company under the SEC’s Exchange Act rules and becoming
listed on Nasdaq. I want to assure every one of our shareholders
that we plan to carry on with our mission of redefining healthcare,
improving our financial position, and driving shareholder
value.”
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
PharmCoRx
https://www.pharmcorx.com/
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 Third-Party Administration (TPA), data
management, COVID-19 related diagnostics and vaccinations, 340B
contracted pharmacy services, 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 Disclosure Regarding Forward-Looking Statements
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
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