TYSONS CORNER, Va., Feb. 19, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), today announced that the Company has commenced the prepayment of its outstanding convertible debt by issuing the first payment on its convertible note with the largest principal and closest conversion date.
ScripsAmerica has announced the prepayment of several convertible notes prior to their conversion date in 2013 and the Company's management continues to hold such actions as a top priority in order to maximize shareholder value by preventing the potential dilution of its common stock.
ScripsAmerica's CEO, Bob Schneiderman, commented, "Last year, ScripsAmerica entered into several convertible note agreements with funding sources as was necessary to fund the company's operations and enable Scrips to add additional revenue streams. I can assure our shareholders that the company has not taken on any additional convertible debt since October 22nd of last year. Moving forward we will not add any more of this type of debt to our balance sheet as we are experiencing growth in our existing areas of business and expect increased revenue based on new ventures and products. ScripsAmerica will continue to prepay our existing notes prior to their conversion date as funds permit."
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.
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