Rx Processing Corp. Publishing NOBO List on a 21 Day Cycle in 2007
Dec 11, 2006 9:10:00 AM
Copyright Business Wire 2006
WILMINGTON, Del.--(BUSINESS WIRE)--
Rx Processing Corporation (PINK SHEETS: RXPC), re-publishes the Rx Processing Corp. NOBO list, "non-objecting shareholders list," to deter back filling actions by market makers in furtherance of affecting our goal of an additional 200 new shareholders by end of first quarter 2007.
Rx Processing Corp is reaching out in an effort to attract shareholders over the course of the next quarter to meet our target goal in 2007 of 1000 shareholders. In 2006, we realized a strong increase in the number of investors acquiring and holding shares as the company grew beyond the challenging and formative years. Through the investor awareness generated by the posting of the NOBO lists, we realize that shareholders depend on this publication to recognize actions employed by market makers.
One market maker action known as back filling is seen by the securities market as acceptable and enables them to profit while contributing to the erosion of shareholder value and confidence when investing in emerging market corporations.
Example of back filling: On December 9th 2006, Peter Fiorillo, executed the purchase of 8,550 shares of RXPC common stock over the course of 30 minutes. The bidding actions were as follows: he bid incrementally up starting at $.037 until a market maker executed his order of RXPC at the asking price of $.04. The transaction record, that proceeded within 6 seconds of execution, shows another purchase of 8500 shares at $.037 per share. This back filling action equaled a loss to the PPS of -0.003 (-7.50%) and loss of market cap of $184,900. This transaction record shows the market maker had the ability to execute the order for $.037 per share, but waited for the bid to go 7.5% higher.
"We highlight our action of posting the NOBO list and focusing on tactics used by market makers as a guide for emerging market corporations to appropriately value and restrict the dilution of their capital securities," stated, CEO of Rx Processing Corp., Peter Fiorillo.
Total O/S: 61,633,577
Float: 21,744,502
Shareholders: 449
Rx Processing Corp. is 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 clients' 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, 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.
Source: Rx Processing Corporation
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Rx Processing Corporation
Wilmington
Tim Gillesse
800-576-7055
rxprocessingcorp.com
GB-ND
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