ScripsAmerica's Pharmaceutical Equity Venture Generates Record Revenue for Second Consecutive Month
February 12 2014 - 8:30AM
ScripsAmerica Inc. (OTCBB:SCRC), today announced
that during the month of January, the Company's equity venture,
Wholesale Rx "WRx," received and processed $268,696 in orders,
setting a second consecutive monthly revenue record.
ScripsAmerica's equity venture increased its revenue by 62% over
the last month and 326% over the last five months since its
formation in August 2013, increasing its run rate from $2 million
to $3.2 million. Due to the rapid growth and success of the equity
venture and its access to WRx's network of independent pharmacies,
the Company decided to take an equity position in WRx last November
with plans of expanding this area of its business.
"ScripsAmerica is very pleased to not only report another record
month for our pharmaceutical distribution equity venture, but also
to note the significant percentage revenue increase over December.
This demonstrates the high level of growth that we have projected
and expect to see throughout 2014 in this area of business,
particularly as WRx expands by obtaining licenses to distribute
pharmaceuticals in additional states. Even without this expanded
territory, we have seen this equity venture already cause a
sizeable increase in Scrips' overall revenue and shareholder
value," commented Bob Schneiderman, CEO of ScripsAmerica.
About ScripsAmerica, Inc.
ScripsAmerica, Inc. is a supplier of prescription, OTC and
nutraceutical drugs, delivering pharmaceutical products to a wide
range of end users across the health care industry. End users
include retail pharmacies, hospitals, long-term care facilities and
government and home care agencies. For more information, visit
www.ScripsAmerica.com.
Safe Harbor Statement This release includes
forward-looking statements, which are based on certain assumptions
and reflects management's current expectations. These
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ
materially from current expectations. Some of these factors
include: general global economic conditions; general industry and
market conditions, sector changes and growth rates; uncertainty as
to whether our strategies and business plans will yield the
expected benefits; increasing competition; availability and cost of
capital; the ability to identify and develop and achieve commercial
success; the level of expenditures necessary to maintain and
improve the quality of services; changes in the economy; changes in
laws and regulations, including codes and standards, intellectual
property rights, and tax matters; or other matters not anticipated;
our ability to secure and maintain strategic relationships and
distribution agreements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
CONTACT: 888-959-7095
ir@sealpointconsulting.com
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