Progressive Care Initiates Process to Upgrade to OTCQB

North Miami Beach, Florida, UNITED STATES

MIAMI, May 12, 2017 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTC PINK:RXMD), through its subsidiaries Smart Medical Alliance, Inc. and PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals, compounded medications, the sale of anti-retroviral medications, medication therapy management (MTM), and the supply of prescription medications to long term care facilities, administration and practice management, utilization management, quality assurance, EHR Implementation, billing and coding, health practice risk management, begins preparation for OTCQB upgrade.

Effective May 18, 2017, OTCMarkets will begin accepting applications from alternative filing companies to upgrade listing status to OTCQB. The qualifications for the OTCQB Venture Market are current filing status, 1 year of PCAOB audited financial statements, minimum bid price of $0.01, not subject to bankruptcy or reorganization proceedings, 2 independent board members, and a majority independent audit committee. Progressive has already begun identifying qualified independent board members as well as begun the application preparation.

“The new requirements for OTCQB is welcomed news for the Company,” stated S. Parikh Mars, CEO. “Over the years, we have strived for transparency, accuracy, and truthfulness in all of our public representations, which has separated us from the pack of OTCPink listed companies. We are aware that our current listing status has limited the ability of the investment community and our shareholders to participate in our tremendous growth story. We believe that a listing on OTCQB will provide us with the renewed attention and access to institutional capital that will facilitate our expansion agenda.”

About Progressive Care

Progressive Care, Inc. (OTC PINK:RXMD), through its subsidiary PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities.

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. 


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