NextPlat Corp.
NXPL.US | Retail sale via mail order houses or via Internet
NextPlat Corp is a global e-commerce company that operates a portfolio of online businesses. It focuses on acquiring and scaling e-commerce brands and technologies. The company's activities include operating e-commerce platforms, providing digital marketing services, and managing supply chains for i...Show More
Better Health for All
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NextPlat's largest segment is its healthcare division, which focuses on expanding contracted 340B and long-term care services, adding compounding and over-the-counter products, pursuing specialty drug accreditations, and exploring nationwide e-commerce mail-order pharmacy.
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The company also sells nutritional supplements and animal health products in China and is exploring a vitamin brand in the UK/EU.
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These activities, particularly within its largest division, indicate that a significant portion of its product portfolio provides modest health benefits, and the company is investing in growth opportunities within these health-positive offerings.
Fair Money & Economic Opportunity
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No evidence available to assess NextPlat Corp on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
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No specific, quantitative data for NextPlat Corp (NXPL.US) relevant to any of the Fair Pay & Worker Respect KPIs was found across the provided articles. While some articles discussed executive compensation for NXPL.US, they did not provide median employee compensation, preventing the calculation of the CEO-to-median-employee pay ratio.
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Several articles discussed general industry trends or other companies, and some mistakenly attributed data for 'NU Skin Enterprises, Inc.' to 'NXPL.US', which is not the company under assessment.
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Fair Trade & Ethical Sourcing
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No evidence available to assess NextPlat Corp on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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The company was required to pay $750,000 to its former CFO as part of a settlement in late October 2024.
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Additionally, a lawsuit with Thomas Seifert was settled on October 15, 2024, for $150,000 plus $600,000 in legal costs.
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A putative class action suit was filed on October 28, 2024, alleging the acquisition of Progressive Care Inc. was unfair to minority shareholders.
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The board has six independent directors, but three directors (Phipps, Ellenoff, and Fernandez) were not independent per Nasdaq rules.
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The company's business activities are subject to the FCPA, UK Bribery Act, and similar anti-bribery laws, and it plans to implement internal controls and policies regarding interactions with business partners and government officials.
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The company engages external cybersecurity experts, including assessors, consultants, and auditors, to enhance cybersecurity measures and ensure compliance with industry best practices.
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Kind to Animals
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No specific, concrete data points were found in the provided articles for any of the KPIs related to the 'Kind to Animals' ethical value for NXPL.US (NextPlat Corp). Information regarding animal welfare policies for 'NEXT PLC' was disregarded as it pertains to a different entity.
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The articles for NXPL.US primarily discuss corporate governance,
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market entry,
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or stock listing compliance,
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without providing any relevant animal welfare metrics.
No War, No Weapons
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NextPlat Corp's subsidiary, Global Telesat Communications (GTC), has a one-year contract extension with an African military customer for wireless connectivity services, including Iridium Push-To-Talk (PTT) device hardware and airtime services.
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The original contract, awarded in Q1 2024, was the largest of its type for the company.
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These Iridium Extreme PTT devices are described as suitable for military, government, and enterprise use.
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GTC also secured a contract from an international humanitarian aid organization for satellite-based asset tracking services.
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However, the provided articles do not specify the percentage of company revenue derived from any defense contract, nor do they offer quantitative data for any other 'No War, No Weapons' related metrics such as dual-use technology R&D, sales to embargoed regimes, peacebuilding investments, or ethical safeguards.
Planet-Friendly Business
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The provided articles contain no specific, concrete data points or actions related to environmental stewardship, carbon emissions, renewable energy use in operations, water usage, green building certifications, waste diversion, lifecycle assessments, recycled content, carbon offsets, climate-positive initiatives, climate justice, or climate adaptation.
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While a subsidiary launched a solar-powered GPS tracking solution, this is a product offering and not evidence of the company's operational energy consumption or other internal environmental practices.
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The articles primarily focus on financial performance, regulatory compliance in the healthcare sector, and general business operations, with explicit statements in multiple articles indicating a lack of environmental or sustainability data.
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Respect for Cultures & Communities
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No evidence available to assess NextPlat Corp on Respect for Cultures & Communities.
Safe & Smart Tech
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NextPlat Corp has no documented data breaches or incidents of unauthorized data use.
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The company states it retains data as long as a user has a registered account and deletes personal data within one month after the user stops using the service.
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It collects personal data including email, name, phone, address, network information, IP address, browser type, pages visited, time and date of use, time spent on pages, unique device identifiers, and diagnostic data.
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The company's privacy policies are posted on its platforms.
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NextPlat is subject to various complex and evolving domestic and international privacy and data protection laws, including HIPAA and HITECH, particularly due to its healthcare operations.
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It acknowledges challenges related to data protection, addressing privacy concerns, and complying with regulations.
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The company's Audit Committee liaises with management to monitor cybersecurity risks, and the Chief Compliance Officer and Chief Financial Officer lead oversight of the company-wide cybersecurity strategy, policy, standards, and processes.
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NextPlat uses the NIST Cybersecurity Framework and engages external cybersecurity experts, including assessors, consultants, and auditors.
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It also has processes to oversee and manage cybersecurity risks associated with third-party service providers, ensuring contracts contain data privacy and security provisions.
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The company's ClearMetrX 4.0 platform uses AI for features like predictive inventory and fraud prevention.
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Zero Waste & Sustainable Products
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The provided articles, including NextPlat Corp's 2024 Form 10-K filings, do not contain any specific quantitative data or concrete information related to the company's waste diversion rates, product recyclability, packaging sustainability, recycled content usage, single-use plastic reduction efforts, take-back programs, circular design principles, waste reduction initiatives, hazardous waste management, product durability, repairability scores, waste audit frequency, zero-waste certifications, waste disposal violations, material efficiency, packaging-to-product ratios, waste reduction targets, supplier waste requirements, or customer waste education programs.
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Therefore, no KPIs under the 'Zero Waste & Sustainable Products' value can be scored.