Posted On: 03/12/2014 8:36:41 AM
Post# of 7769
SCRC ....NEW PR OUT ONCE AGAIN QUELLING THE ONGOING NON-SENSE TO PAYING OFF NOTES!!!.....PPS SOARS VERY SOON AND KNOW ONE WILL STOP ITS ASCENT!!!...
March 12, 2014 - 8:30 AM EDT
ScripsAmerica Announces Prepayment of Convertible Promissory Note
TYSONS CORNER, Va., March 12, 2014 (GLOBE NEWSWIRE) -- 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.
March 12, 2014 - 8:30 AM EDT
ScripsAmerica Announces Prepayment of Convertible Promissory Note
TYSONS CORNER, Va., March 12, 2014 (GLOBE NEWSWIRE) -- 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.
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