Corporate Developments and Future Plans
SCOTTSDALE, Arizona — July 25, 2022 (Issuewire.com) — Praxsyn Corporation’s (OTC: PXYN, the “Company”) subsidiary, Mesa Pharmacy, Inc., through its attorneys, had filed a Petition for Reconsideration of the Findings of Fact and Opinion on Decision regarding its pending litigation in California before the Workers’ Compensation Appeals Board. The Workers’ Compensation Appeals Board of the State of California had issued an Opinion and Order Granting Petition For Reconsideration for the purpose of further deciding the substantive issues in the case. It had been among others with the Workers’ Compensation Appeals Board suffering the problem of long delayed legal decisions. Action had been taken in this regard and the Company had authorized its counsel to prepare and submit an amicus curiae brief to support the effort to have these decisions expedited, or at least delivered on a timely basis.
Since the last release, there have been numerous developments in the case before the Workers’ Compensation Appeals Board. The Company, due to circumstances beyond its control, has had to substitute Counsel representing it in the aforementioned matter, but that has no material effect on the Company’s interests in the case.
The Workers’ Compensation Appeals Board has issued its Opinion and Decision after Reconsideration to rescind the Findings and return the matter to the trial level for further proceedings.
The Company continues to work on the missing filings to become current. The disruptions to the expected timeline to complete the missing filings have been beyond the control of the Company.
The Company continues to work on pursuing the unclaimed property in the name of Mesa Pharmacy, Inc., being held by the State of California.
In conjunction with completing the missing filings, the Company intends to explore financing, business development, and restructuring opportunities as it awaits further updates on the Mesa Pharmacy receivables. The Company will continue to update shareholders periodically.
Official Press Release:
About Praxsyn Corporation
Headquartered in Scottsdale, Arizona, Praxsyn Corporation works to realize the vision of medical professionals to improve the lives of their patients. Additional company information can be found at www.praxsyn.com.
Forward-Looking Statement This Press Release contains forward-looking statements that involve risks and uncertainties, which may include statements about business strategy and development plans, plans for entering a new business, anticipated sources of funds, including proceeds from future operations and plans, objectives, expectations, and intentions contained in the Press Release that are not historical facts such as “estimated gross”…prospective resources, total potential revenue, substantially exceeds, etc. “Because these forward-looking statements involve risk and uncertainties, actual results could differ materially from those discussed in this Press Release.