D-Chef: In a nutshell, Ironridge tried to take ad
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Posted On: 05/13/2014 10:52:15 AM
D-Chef: In a nutshell, Ironridge tried to take advantage of yet another OTC company. Most would lay down and give the big bad wolf everything they ask. This time, however, SCRC called them on it and are seeking justice for the unconscionable wrongs committed against them by Ironridge. In my opinion, Ironridge underestimated Bob Schneiderman and tried to sneak into the cookie jar just one too many times.
SCRC gave Ironridge over 10.5 million freely-trading shares valued at approximately $1.2 million -- about 48% more than the amount to which Ironridge was entitled under the stipulated Claim Amount (˜ $766K). SCRC has appealed the California court's order that SCRC issue an additional 1,646,550; the appeal resulted in an automatic stay of the order. So, SCRC has not issued those additional shares, nor do I expect them to be required to do so.
I anticipate that during the discovery period SCRC's counsel will discover a plethora unconscionable and fraudulent activities that will not only enable them to keep the 1,646,550 shares that Ironridge requested on April 4th, but will also provide clear and convincing evidence that SCRC and its shareholders are entitled to much, much more from Ironridge.
This demonstrates strong leadership from Bob Schneiderman on account of his courage to stand up for the SCRC shareholders and the company's legal rights. It further demonstrates the company was standing on much better financial footing on April 4th than they were on February 10th, the date when they succumbed Ironridge's greedy demands and issued an additional 1,615,550 shares. Of course, with April pharmacy revenues totaling $958K, just imagine how much better off the company is now compared to the date when Bob said, "Go pound sand!".
To that end, yesterday's 8K corroborates that ScripsAmerica is the real deal with vastly improved fundamentals and that is now also able to defend its legal rights. The market value is clearly trailing the fundamentals. This will not always be the case.
Once again, kudos to Bob!
Sent from my iPad
SCRC gave Ironridge over 10.5 million freely-trading shares valued at approximately $1.2 million -- about 48% more than the amount to which Ironridge was entitled under the stipulated Claim Amount (˜ $766K). SCRC has appealed the California court's order that SCRC issue an additional 1,646,550; the appeal resulted in an automatic stay of the order. So, SCRC has not issued those additional shares, nor do I expect them to be required to do so.
I anticipate that during the discovery period SCRC's counsel will discover a plethora unconscionable and fraudulent activities that will not only enable them to keep the 1,646,550 shares that Ironridge requested on April 4th, but will also provide clear and convincing evidence that SCRC and its shareholders are entitled to much, much more from Ironridge.
This demonstrates strong leadership from Bob Schneiderman on account of his courage to stand up for the SCRC shareholders and the company's legal rights. It further demonstrates the company was standing on much better financial footing on April 4th than they were on February 10th, the date when they succumbed Ironridge's greedy demands and issued an additional 1,615,550 shares. Of course, with April pharmacy revenues totaling $958K, just imagine how much better off the company is now compared to the date when Bob said, "Go pound sand!".
To that end, yesterday's 8K corroborates that ScripsAmerica is the real deal with vastly improved fundamentals and that is now also able to defend its legal rights. The market value is clearly trailing the fundamentals. This will not always be the case.
Once again, kudos to Bob!
Sent from my iPad
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