Smallcapvoice.com, Inc.

MIAMI, May 16, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today issued 1st Quarter 2019 Quarterly Report Conference Call highlights. The Company announced nearly $5.2 million in net revenues, a 3% increase over 2018. Revenues net nearly $275,000 in PBM fees charged during the quarter, which is an 89% increase over 2018. Prescriptions filled increased 28% to 84,500 during 1st quarter 2019. The company also filled over $1.9 million worth of prescriptions (Not Included in Net Revenues) for 340B entities during the quarter, generating fees to the pharmacy of approximately $115,000 which is a 91% increase over the same period last year. The Company reported a net loss of approximately $750,000, which included nearly $300,000 of non-cash interest on notes payable and depreciation, $125,000 in increased PBM fees, inclusion of $120,000 of net losses from PharmCo 1002, and decreased gross margins on prescription services to 20%. The Company