ScripsAmerica Commences Prepayment of Convertible Notes
February 19 2014 - 8:30AM
ScripsAmerica Inc. (OTCBB:SCRC), today announced
that the Company has commenced the prepayment of its outstanding
convertible debt by issuing the first payment on its convertible
note with the largest principal and closest conversion date.
ScripsAmerica has announced the prepayment of several convertible
notes prior to their conversion date in 2013 and the Company's
management continues to hold such actions as a top priority in
order to maximize shareholder value by preventing the potential
dilution of its common stock. ScripsAmerica's CEO, Bob
Schneiderman, commented, "Last year, ScripsAmerica entered into
several convertible note agreements with funding sources as was
necessary to fund the company's operations and enable Scrips to add
additional revenue streams. I can assure our shareholders that the
company has not taken on any additional convertible debt since
October 22nd of last year. Moving forward we will not add any more
of this type of debt to our balance sheet as we are experiencing
growth in our existing areas of business and expect increased
revenue based on new ventures and products. ScripsAmerica will
continue to prepay our existing notes prior to their conversion
date as funds permit."
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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