ScripsAmerica Prepays $50,000 Convertible Promissory Note
31 March 2014 - 11:30PM
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.
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: 888-959-7095
ir@sealpointconsulting.com
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