ScripsAmerica Pays Off $325,000 in High Interest Debt
ScripsAmerica Pays Off $325,000 in High Interest Debt
TYSONS CORNER, VA--(Marketwired - Dec 30, 2014) - ScripsAmerica, Inc. (OTCBB: SCRC) today announced that the Company has paid off $325,000 in high interest, short-term debt using proceeds from its recent funding by Triumph Healthcare. The Company paid the full balance of two one-year term loans in the amounts of $250,000 and $75,000, each with an interest rate of 24% per annum.
"Reducing ScripsAmerica's interest expense and optimizing our capital structure has been and will remain a high priority for management. The terms and interest rate on our revolving line of credit from Triumph Healthcare are significantly more favorable than those for these short-term notes, hence we decided to pay them off in the best interest of the Company and its shareholders," commented the Company's CEO, Bob Schneiderman.
"Additionally, as we close the year, I would like to personally thank ScripsAmerica's loyal shareholder base for their continued support. We expect 2015 to be Scrips' most successful year to date and are pleased to see that the Company's stock price and activity is beginning to reflect its true value and should continue to do so moving forward," added Schneiderman.
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:
Seal Point Consulting, LLC
888-959-7095
Email Contact
(MORE TO FOLLOW) Dow Jones Newswires
December 30, 2014 08:00 ET (13:00 GMT)
ScripsAmerica Pays Off $325,000 in High Interest Debt
TYSONS CORNER, VA--(Marketwired - Dec 30, 2014) - ScripsAmerica, Inc. (OTCBB: SCRC) today announced that the Company has paid off $325,000 in high interest, short-term debt using proceeds from its recent funding by Triumph Healthcare. The Company paid the full balance of two one-year term loans in the amounts of $250,000 and $75,000, each with an interest rate of 24% per annum.
"Reducing ScripsAmerica's interest expense and optimizing our capital structure has been and will remain a high priority for management. The terms and interest rate on our revolving line of credit from Triumph Healthcare are significantly more favorable than those for these short-term notes, hence we decided to pay them off in the best interest of the Company and its shareholders," commented the Company's CEO, Bob Schneiderman.
"Additionally, as we close the year, I would like to personally thank ScripsAmerica's loyal shareholder base for their continued support. We expect 2015 to be Scrips' most successful year to date and are pleased to see that the Company's stock price and activity is beginning to reflect its true value and should continue to do so moving forward," added Schneiderman.
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:
Seal Point Consulting, LLC
888-959-7095
Email Contact
(MORE TO FOLLOW) Dow Jones Newswires
December 30, 2014 08:00 ET (13:00 GMT)
