Topics

Progressive Care Inc. Files an Amended June 30, 2019 Quarterly Report

20:00 EDT 14 Aug 2019 | Globe Newswire

MIAMI, Aug. 15, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today filed an Amended Quarterly Report for the Quarter ended June 30, 2019.

Progressive Care filed an amended Quarterly Report for the period ended June 30, 2019 to correct an error in a table in Item 4, Management’s Discussion and Analysis or Plan of Operation.  The corrected table provides information about certain non-GAAP financial measures of the Company.  The error was the result of a clerical worksheet formula error from which the Non-GAAP presentation table was derived. Management discovered the error, made necessary corrections and immediately filed an amended quarterly report. Management also reviewed and revised its quarterly financial reporting controls and procedures to better detect such errors in the future which includes adding an additional layer of 3rd party review. In a prior release the Company misstated the consolidated adjusted EBITDA as result of the table error contained in the reported financial statements [revised to approximately ($672,000)].

“There is no excuse for such errors,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. “While we pride ourselves on being meticulous and careful stewards of the financial information we report, we know we can always do better and improve. We do not believe that such an error was a systemic malfunction of control procedures, but have revised procedures nonetheless to ensure the credibility of the information we present to the public.”

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, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx

About Progressive Care Inc.
Progressive Care Inc. (OTCQB: RXMD), through its PharmCo and Five Star pharmacies, 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.

Investor Relations Contact:
Armen Karapetyan, Progressive Care
Senior Advisor Business Development
Armen@progressivecareus.com 
www.progressivecareus.com 
www.pharmcopharmacy.com 

Public Relations Contact:
Kathleen Gonzales, CMW Media
Kathleen@cmwmedia.com 
www.cmwmedia.com 

Web and Application Development Contact:
Marcello Jaspan, Mass Ventures Corp
Marcello@massventurescorp.com 
www.massventurescorp.com 

Progressive Care Website Logo.JPG

NEXT ARTICLE

More From BioPortfolio on "Progressive Care Inc. Files an Amended June 30, 2019 Quarterly Report"

Quick Search

Relevant Topics

BioPortfolio - life science, medical devices and pharmaceutical conference
BioPortfolio is a leading news, information and knowledge resource covering the global life science industries impacted on by biotechnology. The site aims to provide the lay person, the researcher and the management executive with a single location to so...

Drug Discovery
Clinical Approvals Clinical Trials Drug Approvals Drug Delivery Drug Discovery Generics Drugs Prescription Drugs In the fields of medicine, biotechnology and pharmacology, drug discovery is the process by which drugs are dis...

Pharmacy
Pharmacy is the science and technique of preparing as well as dispensing drugs and medicines. It is a health profession that links health sciences with chemical sciences and aims to ensure the safe and effective use of pharmaceutical drugs. The scope of...