ScripsAmerica Announces Prepayment of Convertible Promissory Note
March 12 2014 - 8:30AM
ScripsAmerica Inc. (OTCBB:SCRC), a leading
supplier of prescription, OTC and nutraceutical drugs, today
announced that the Company has prepaid the balance of an
outstanding convertible promissory note with a principal amount of
$40,000.
The convertible note was issued by Hyde Park LLC on September
18, 2013 and has a one-year term with a 12% interest rate per
annum. On March 18, 2014, $42,400 due under the note becomes
convertible into shares of ScripsAmerica's common stock at a
specified discount. The Company's cash payment has rendered the
note paid in full prior to its conversion eligibility date. CEO of
ScripsAmerica, Bob Schneiderman, commented, "ScripsAmerica remains
strongly committed to maximizing shareholder value in every
possible way. Now that we are entering a period of significant
revenue growth, it is critical to remove any potential for stock
dilution that could undermine the corresponding increase in our
share price necessary to move to a higher exchange in the future."
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
ScripsAmerica (CE) (USOTC:SCRCQ)
Historical Stock Chart
From Mar 2024 to Apr 2024
ScripsAmerica (CE) (USOTC:SCRCQ)
Historical Stock Chart
From Apr 2023 to Apr 2024