TYSONS CORNER, Va., March 31, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced the prepayment of an outstanding convertible note in the principal amount of $50,000.
On April 22, 2014, $51,732 due under the one-year note issued to the Company by LG Capital which includes principal and interest, becomes convertible into shares of ScripsAmerica's common stock at a specified discount. The Company's cash payment has rendered its outstanding promissory note to LG Capital paid in full prior to its eligibility date for conversion into common stock.
The debt prepayment was funded by ScripsAmerica's cash on hand resulting from revenue generated by its business operations including a pharmaceutical equity venture with WholesaleRx and the specialty pharmacy that Scrips manages.
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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