Progressive Care Updates Shareholders on
the Status of Naked Shorts
Miami, FL
-- May
1, 2018 --
InvestorsHub NewsWire -- Progressive Care Inc. (OTCQB:
RXMD),
a healthcare services and technology company,
updates
shareholders that it is no longer on the Regulation SHO watch list
with OTCMarkets.
The Company
recently began taking action to alleviate pressure caused by naked
short positions in the Company's stock. The Company contacted a
number of broker/dealers, clearing firms, and reached out to
FINRA's
Division of Market Regulation about the problem naked
shorting is causing in the market for the Company's securities.
Management believes this effort of raising awareness within
compliance offices has led to a significant decrease in naked short
positions in the market, which has resulted in the removal of
Progressive Care (OTCQB:RXMD) from the OTCMarkets
Regulation SHO
watch list for significant fails to deliver. The Company intends to
continue contacting broker/dealers and clearing firms to ensure
that they are complying with all regulations.
"We are pleased that our
efforts have had a positive impact on
the stability of the market for our stock," stated S. Parikh Mars,
CEO. "Our
shareholders especially have done a tremendous job of contacting
their firms to prevent their shares from being borrowed for short
positions. We cannot prevent all
instances of naked shorts, but we can apply pressure and raise
awareness with broker/dealers and clearing firms to
be
vigilant in their
compliance protocols in this regard. We will continue to monitor
the situation and take action when necessary now and into the
future."
Get
connected and stay in touch with us on social media:
Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
About
Progressive Care
Progressive
Care Inc. (OTCQB:RXMD),
through its PharmCo, LLC, is a South
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
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. 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
www.progressivecareus.com
www.pharmcopharmacy.com