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| | Business Summary: OptimizeRx Corporation, a development stage company, operates as Website publisher and marketing company. | | | Address
407 Sixth Street
Rochester
, MI 48307
Phone: 248-651-6558
Fax: 248-453-5529
Website: http://www.optimizerx.com
| | Auditor |
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Maddox Ungar Silberstein, PLLC
| | Transfer Agent |
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Integrity Stock Transfer
| Employees: 4
ShareHolders: 332 | Founded: 1985
Domicile: Nevada | | | |
| | OptimizeRx Corporation, a development stage company, operates as Website publisher and marketing company. The company, through its subsidiary, OptimizeRx Michigan, creates, promotes, and fulfills custom marketing and advertising programs that enable medical patients to manage their healthcare costs. It operates OPTIMIZERx.com, a portal that enables patients to centrally review and participate in prescription and healthcare savings/support programs; and OFFERx, an online platform, which allows manufacturers to create, promote, and fulfill new medication offering programs directly in approximately 61,000 pharmacies. It also offers AHERxE, an online platform that allows manufacturers to engage and monitor patients each month in exchange for activation of their monthly co-pay coupons; and SampleMD, a downloadable virtual patient support center that allows doctors and staff to access sample vouchers and co-pay coupons, as well as access the fulfillment and adjudication of claims directly from their desktops. In addition, the company provides advertising programs to the pharmaceutical and healthcare industries. OptimizeRx Corporation was founded in 2006 and is based in Rochester, Michigan. | | History: INCORPORATED in Nevada Sept. 4, 2008, to merge, on a share-for-share basis, OptimizeRx Corp., a Colorado corporation originally organized Nov. 8, 1985, as Lexington Capital Corp.; name changed to Club America, Inc. Sept. 12, 1989, to PlanCapital, U.S.A., Inc. Apr. 13, 1992, to Continental Capital Corp. Nov. 3, 1994, to RFID LTD June 6, 2005, and to OptimizeRx Corp. Apr. 15, 2008.
July 8, 2005, acquired Packaged RFID, Inc. (incorporated in Colorado May 23, 2005).
April 14, 2008, completed a reverse merger by entering into a share exchange agreement with the stockholders of OptimizeRx Corp., a Michigan corporation (OptimizeRx Michigan), pursuant to which the stockholders of OptimizeRx Michigan exchanged all of the issued and outstanding capital stock of OptimizeRx Michigan for 1,256,958 Common shares of the company. As a result of this transaction, OptimizeRx Michigan became a wholly owned subsidiary of the company.
OptimizeRx Michigan was originally formed in Michigan Jan. 31, 2006, as Optimizer Systems, LLC; and on Oct. 22, 2007, became a Michigan corporation and changed its name to OptimizeRx Corp. | | | | Subsidiaries: |
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OptimizeRx Corporation (Michigan)
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Management
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| Officers | Position |
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| David Harrell | Chief Financial Officer & Chief Executive Officer |
| | Directors |
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| Terence J. Hamilton | | David Harrell | | David Lester | | Thomas E. Majerowicz | | | |
| | | | Capitalization as of 03/31/2010: | | | | | Authorized Shares | Outstanding Shares |
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| Preferred $0.001 par | 10,000,000 | 35so1 | | Common $0.001 par | 450,000,000 | 12,881,156 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
12/31/2009,
332.
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Transfer Agent: Integrity Stock Transfer
Las Vegas
, NV | | | | OTC Bulletin Board( Primary): OPRX | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2010 | 0.0000 | 0.0000 | | OTC Bulletin Board | 2009 | 4.3500 | 0.2000 | | Over The Counter | 2008 | 15.0000 | 1.0100 | | Over The Counter | 2007 | 650.0000 | 2.0000 | | Over The Counter | 2006 | 2.0000 | 0.3500 | | Over The Counter | 2005 | 4.0500 | 0.5000 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common reverse split 1-for-100, June 21, 2005.
Common split 6-for-1, Dec. 18, 2006.
Common reverse split 1-for-1,000, Apr. 2, 2008. | | | | | |
so1Closely held. Consists of Ser. A Conv. Preferred. Series A shares are convertible into a total of 3,500,000 Common shares. Series A shares are required to be redeemed on Sept. 5, 2010. | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 |
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| REVENUES |
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| | Gross Revenues | 26,723 | 83,686 | | EXPENSES |
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| | Operating Expenses | (2,673,782) | (1,591,738) | | Other Income/expense | (1,908,630) | (2,740,801) | | Earnings before Taxes | (4,555,689) | (4,248,853) | | TAXES AND OTHER EXPENSES |
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| | Net Income (Loss) | (4,555,689) | (4,248,853) | | SUPPLEMENTARY INFO |
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| | Operating Income (Loss) | (2,647,059.00) | (1,508,052.00) | | Basic EPS - Continuing Operations | (0.36) | (0.35) |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| CURRENT ASSETS |
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| | Cash and Cash Equivalents | 656,394 | 2,502,656 | | Accounts Receivable Trade | 14,465 | - | | Accounts Receivable-employee | - | 1,346 | | Prepaid Expenses | 8,092 | 3,292 | | Total Current Assets | 678,951 | 2,507,294 | | NON CURRENT ASSETS |
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| | Property and Equipment, net | 13,581 | 15,270 | | Web Development Costs, Net | 197,610 | 120,737 | | Total Assets | 890,142 | 2,643,301 | | CURRENT LIABILITIES |
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| | Accounts Payable-trade | 33,224 | 171,864 | | Accrued Expenses | 4,606 | 41,933 | | Note Payable-related Parties | - | 4,000 | | Total Current Liabilities | 37,830 | 217,797 | | SHAREHOLDERS' EQUITY |
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| | Common Stock - Par Value | 12,826 | 12,263 | | Additional Paid in Capital | 1,747,962 | - | | Deficit Accumulated during the Development Stage | (19,047,730) | (14,492,040) | | Stock Warrants | 18,139,250 | 16,905,280 | | Total Shareholders Equity | 852,312 | 2,425,504 | | Total Liabilities & Shareholders Equity | 890,142 | 2,643,301 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | Nil | | 2009 |
3 | 10,000 | | 2009 |
4 | 20,000 | | 2009 |
Full Year
| 30,000 | | 2008 |
1 | 50,000 | | 2008 |
2 | 30,000 | | 2008 |
3 | Nil | | 2008 |
4 | 20,000 | | 2008 |
Full Year
| 80,000 | | 2007 |
4 | 90,000 | | 2007 |
Full Year
| 100,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (260,000) | | 2009 |
1 | (1,360,000) | | 2009 |
2 | (340,000) | | 2009 |
3 | (520,000) | | 2009 |
4 | (2,330,000) | | 2009 |
Full Year
| (4,560,000) | | 2008 |
1 | (550,000) | | 2008 |
2 | (210,000) | | 2008 |
3 | (150,000) | | 2008 |
4 | (3,350,000) | | 2008 |
Full Year
| (4,250,000) | | 2007 |
Full Year
| (360,000) | | 2006 |
Full Year
| (200,000) | | 2005 |
Full Year
| (60,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (.02) | | 2009 |
1 | (.11) | | 2009 |
2 | (.03) | | 2009 |
3 | (.04) | | 2009 |
4 | (.18) | | 2009 |
Full Year
| (.36) | | 2008 |
1 | (.05) | | 2008 |
2 | (.04) | | 2008 |
3 | Nil | | 2008 |
4 | (.44) | | 2008 |
Full Year
| (.35) | | 2007 |
4 | (.02) | | 2007 |
Full Year
| (.17) |
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