TYSONS CORNER, Va., April 2, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), today announced that the Company has issued the second payment due on its convertible note with the largest principal and closest conversion date.
This most recent payment on this note as well as the Company's first payment announced on February 19th eliminate any possibility of its conversion into common stock. ScripsAmerica has prepaid several convertible notes prior to their conversion date in 2013 and 2014.
ScripsAmerica's CEO, Bob Schneiderman, commented, "The revenue streams that Scrips has established have enabled us to prepay these notes as an alternative to their conversion into shares. This policy has prevented any additional dilution of our stock as we continue to safeguard our shareholder value."
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.