Wilmington, Delaware, United States
Rx Processing Corporation (OTC:RXPC) Releases our Financial Plan; this document can be downloaded from the corporate website at www.rxprocessingcorp.com.
Rx Processing Corp. shareholders meeting in Lawrence, Kansas held November 7th, 2006 was successful, for we accomplished two key votes: the reduction in our authorized common stock and the acceptance of our financial and business plan to be published to the SEC for clearance of the 15C-211 filing. Today, our public release of the business and financial plan in this increasingly complex health care environment focuses directly on supporting the approximately 20,000 struggling U.S. independent pharmacies that today are under extreme financial pressure from major retailers, insurance companies and governmental reimbursement plans including Medicare part D.
Our Business / Financial Plan: shares with all investors past and present what we are positioned to achieve financially over the next five years. It is based upon actuarial analysis of past sales numbers. Through our corporate advocacy program we seek to reduce the cost of access to affordable prescription drugs and laboratory diagnostics for corporations and individuals in the United States. In a parallel fashion we will accelerate distribution direct to consumers through regimented mail-order fulfillment combined with directing clients to independent pharmacies for delivery of acute care medications.
Shareholder meeting actions resulted in the following two approved shareholder votes.
1. The reduction of the authorized 500 million shares of Rx Processing Corp to 100 million shares.
2. Acceptance of the business plan and financial plan to be filed with the SEC.
"Our faith is strong, the financial plan accurate, and our business plan provides Rx Processing Corp. positioning with independent pharmacies as a platform to compete with major retailers," stated Peter Fiorillo. "Our business and financial plan share with current and potential shareholders an analytical tool to judge our future progress while achieving increased corporate income and shareholder capital."
O/S: 61,633,577
Float: 21,744,502
Note to the O/S: A significant portion of the increase in the O/S is due to the re-issuance of restricted stock to Peter Fiorillo after he canceled personal common stock to complete the Canada Drugs of Spring Hill acquisition for Rx Processing Corp.
About: Rx Processing Corp.
Rx Processing Corp., an innovator in the distribution of pharmaceutical medications and laboratory diagnostics managed at storefront locations with a direct to consumer delivery business model for under and uninsured U.S. citizen's health care needs. Our technology platform services the needs of U.S. Citizens with our secure RxPC advocacy program, independent pharmacy consultant program, and corporate friendly ordering system for laboratory testing and prescription medications through licensed pharmacies in the United States and CLIA-certified patient service centers. The company provides access to FDA approved brand-name and generic medications and thousands of laboratory diagnostics with access to 4,000+ CLIA-certified patient service centers for specimen collection. Rx Processing Corp. estimates that more than 48 million United States citizens would benefit from these company programs.
Safe Harbor Statement
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including those about the company's future expectations, revenues and earnings, and all other forward-looking statements (i.e., operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.
CONTACT: Rx Processing Corporation, Wilmington Tim Gillesse 800-576-7055 http://www.rxprocessingcorp.com
Source: Business Wire (Business Wire India)