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Hey Tryz, it's been awhile
Where's the Kaboom? I'm ready for it
I AGREE......This forum is and was made to combat the vermon that exist on the SCRC site.......tryz
As I see it, Tryz, ScripsAmerica, SCRC, might just about be through its long consolidation phase and ready to move up. The company's business plan seems to have entered a winning phase, and the CEO seems to be on the right track, in giving top priority to he compounding pharmacy business.
My radar is on.It's a pity that there are so few post here for the moment.
SCRC.....Radar Alert Investors!!!......ScripsAmerica Inc. and a Startling off the charts to revenue growth to 'ONE' BUSINESS OPERATION - New Press Release this morning!!!.....Kaboom !!!.... nothing else compares to any other OTCBB stock!!!......> May 5, 2014 - 8:30 AM EDT
Monthly Revenue From ScripsAmerica's Managed Specialty Pharmacy Nearly Doubles in April, Topping $958,000
TYSONS CORNER, Va., May 5, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC) today announced that its managed specialty pharmacy reported $958,234 in prescription sales during the month of April, representing a 94% increase in monthly revenue over March.
The specialty pharmacy, which focuses on compounding topical creams, has generated a total of $1,600,501 in sales since ScripsAmerica entered an agreement to manage its operations in exchange for a very significant percentage of its revenues in February. April's figures give the pharmacy an annual run rate of $11.5 million.
Bob Schneiderman, the Company's CEO, stated, "We are very pleased to report that ScripsAmerica's managed specialty pharmacy set a revenue record in April, nearly doubling its sales from March. This demonstrates significant rapid revenue growth and further, we believe that the Company has not nearly tapped the potential of this endeavor. There are several factors that we believe will drive steady revenue growth for this pharmacy."
"First, topical creams are experiencing growing demand as an effective alternative to pills that can be more easily ingested in higher doses than originally prescribed. Secondly, our pharmacy utilizes a new system to process prescriptions that have greatly increased its efficiency, sales, profitability, etc. Finally, under our management, the specialty pharmacy has applied for licensing in additional states, which will enable continued growth in both our revenues and profits from this operation," continued 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.
SCRC......On radar alert and investor upside breakout for loyal shareholders and its full blown explosive high-lighted investor PR armegadon in the past few weeks as ScripsAmerica and its business revenue operations resources makes this a beast in the making on its run to greatness > : TYSONS CORNER, Va., April 2, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (SCRC), today announced that the Company has issued the second payment due on its convertible note with the largest principal and closest conversion date.
TYSONS CORNER, Va., April 1, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (SCRC) today announced that the specialty pharmacy it recently entered into a management agreement with recorded $494,643 in prescription sales for the month of March.
TYSONS CORNER, Va., March 31, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (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.
TYSONS CORNER, Va., March 24, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company's equity venture, Wholesale Rx "WRx," received and processed $313,904 in orders during the month of February.
TYSONS CORNER, Va., March 17, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company has prepaid the entire balance of an outstanding convertible promissory note with a principal amount of $50,000
TYSONS CORNER, Va., March 12, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company has prepaid the balance of an outstanding convertible promissory note with a principal amount of $40,000.
TYSONS CORNER, Va., March 10, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (SCRC) today announced that the Company has secured a $200,000 purchase order for RapiMed(R) from Global Pharma Hub for the Hong Kong market.
TYSONS CORNER, Va., March 5, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (SCRC) today announced that the Company has entered into a sublicensing agreement for the marketing and distribution of RapiMed(R) in Canada. ScripsAmerica will now have access to the growing Canadian OTC drug market, which was valued at over $3.1 Billion in 2012.
TYSONS CORNER, Va., Feb. 20, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (SCRC) today announced that the Company has entered into a business management agreement with a New Jersey compounding pharmacy.
TYSONS CORNER, Va., Feb. 12, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (SCRC), today announced that during the month of January, the Company's equity venture, Wholesale Rx "WRx," received and processed $268,696 in orders, setting a second consecutive monthly revenue record
Cats....no fear, as i posted earlier imho that Febuary will be one for the books to SCRC and its shareholders...those that are taking advantage of todays prices will be handsomely rewarded in there investment moving forward and all of the due diligence brought forward says so !!!........straight up, tryz
Ready to take off during the month of February. We just need some substantial news.
Cats.....mark my word its gonna get good crazy very soon imho to SCRC.........tryz
Pretty quiet around here. Patiently waiting for this train to start rolling! Go SCRC!
A better close today on SCRC, with Time&Sales looking much better during the last 20 minutes of the session. Could this be signaling a new uptrend in the making? With the sales based on the JV advancing strongly, and the resulting revenues showing a run rate of $2 million, SCRC is delivering on its business plan.
Everyone here have a great and safe new years and a merry 2014!!!
Go SCRC!!!
SCRC....this is from a very proud shareholder and authentic core member's due diligence >.......... To any new investor in SCRC, the following PRs are just a few that you can read on the ScripsAmerica website. Bob Schneiderman, SCRC CEO, has done an outstanding job building five separate revenue streams to launch SCRC into a huge success in 2014. Funding, read the October 14th PR regarding GEM EMG, an unheard accomplishment for a start up penny stock company. The big news is the expansion of SCRC business into the China market. The SCRC Team travelled to China and we are anticipating hearing news of SCRC tapping into this $32B OTC market. Pediatric Rapimeds is just the beginning. The RapiMed technology is currently being looked at for use in sleep medication, vitamins, and other OTC applications. Projections vary depending on who you talk to, but I can see SCRC hitting the $2 or higher in the next 12 - 16 months. The potential with the China market is huge. Whether you are interested in short term gains or long term profits like a lot of us, SCRC is a stock you do not want to pass up. But, as with any investment , I recommend you do your own DD and make your decision. I originally bought in last March and intend to wait it out for the $2 PPS pay day.
TYSONS CORNER, Va., Oct. 14, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (SCRC) today announced that it has entered into a financing agreement with GEM Global Yield Fund ("GEM Global"), a member of the Global Emerging Markets Group ("GEM"), to provide funding to the Company of up to $2 million.
TYSONS CORNER, Va., Oct. 23, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (SCRC) today announced that the Company's acquisition target, PIMD International, launched a new product website www.pimdsupplies.com exclusively to market and sell medical supplies online.
TYSONS CORNER, Va., Oct. 28, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (SCRC) announced today that the Company's due diligence team will travel to China in November to begin formal RapiMed(R) distribution negotiations in preparation for a product launch into the Chinese OTC market, valued at over $32 billion.
TYSONS CORNER, Va., Nov. 4, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (SCRC), today announced that the Company has received and processed $129,794 in orders during October from its recent pharmaceutical distribution joint venture
TYSONS CORNER, Va., Nov. 11, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (SCRC), today announced that it has agreed to invest in Wholesale Rx "WRx" in exchange for an equity position in the company.
TYSONS CORNER, Va., Nov. 20, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (SCRC), today announced that the Company has satisfied $686,962 in trade payables and outstanding convertible notes in exchange for the issuance of shares of its common stock to Ironridge Consumer Co., a division of institutional investor Ironridge Global IV, Ltd. ("Ironridge") which specializes in direct equity investments in consumer product companies. With $686,962 removed from its balance sheet as a result of this transaction, the financing has paid for ScripsAmerica's cost of goods to supply its RapiMed(R) Children's Pain and Fever Reducer product to retail outlets in China as well as to pay outstanding promissory notes.
Kaboom Core Brotherhood >...... I will have a stock play that i will share with you after the New Year for those who are interested based on solid hard work due diligence i put in for the past month,with a low pps and low trading float which i feel will add extra pocket change to mine /our longterm investing holdings of SCRC......will keep you posted,tryz
Surprise News!!
Revenue from ScripsAmerica's Pharmaceutical Joint Venture on Record Pace for December
ScripsAmerica Inc. (OTCBB:SCRC), today announced that the Company has received and processed a record high $51,920 in orders during the week ending December 13, 2013 and $84,821 in orders for the first two weeks of the month from its recent pharmaceutical distribution joint venture ("JV").
Revenue from the first two weeks of December from ScripsAmerica's JV whereby the Company supplies wholesale prescription drugs to a large network of independent pharmacies, puts it on pace to top all previous months since the beginning of the JV in August of this year. The JV remains on a run rate between $1.4 and $1.5 million for ScripsAmerica, which expects its monthly revenue to continue its growth into 2014.
"We are very excited to see the wholesale pharmaceutical distribution piece of ScripsAmerica's business model continuing to demonstrate consistent and sizeable growth heading into 2014. While sales will likely slow down over the last two weeks of the year due to the holidays, as of now, our joint venture is on a record pace for revenue so far in December and would generate over $169,000 for the month at its current pace," stated CEO of ScripsAmerica, Bob Schneiderman.
"This figure would mark a 31% increase over our highest grossing month so far, confirming our our projections of continued growth and strength in this area of our business. 2014 is set to be a very exciting time for ScripsAmerica and its shareholders as we continue growth not only in pharmaceutical distribution through this JV and our recent equity position in WholesaleRx but we expect to launch our RapiMed product in China as well as ramp up our revenues from PIMD International," Schneiderman continued.
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
SCRC...News Out! >.....December 18, 2013 - 8:30 AM EST
SCRC 0.111 -0.019
ScripsAmerica's Pharmaceutical Joint Venture Generates Over $116,000 in Revenue for November
Company's Joint Venture Records Excellent Gross Sales Despite Thanksgiving Holiday
TYSONS CORNER, Va., Dec. 18, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), today announced that the Company has received and processed $116,987 in orders during November from its recent pharmaceutical distribution joint venture ("JV").
The JV has generated $246,781 in revenue for October and November as a result of ScripsAmerica providing independent pharmacies with wholesale prescription drugs. October and November's combined sales of over $245,000 keep ScripsAmerica on a run rate of over $1.4 million solely for this joint venture.
"November proved to be a very strong month in sales for our joint venture even with the Thanksgiving holiday, therefore keeping pace with previous months. Our run rate continues to be in the $1.5 million range and we expect to increase this rate as our partner continues its growth in the industry. We fully expect that wholesale pharmaceutical distribution to independent pharmacies will remain an area of steady growth for ScripsAmerica and our shareholder value throughout 2014," stated CEO of ScripsAmerica, Bob 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.
Excellent post this Sunday morning Tryz!
SCRC > Dear Santa Bob ,......we all have been good well behaved shareholders thru out the year and made hardwork of making the "Core" family stronger and unitied in making all of our dreams come true.....the "Core' has made its list and asks that you please bring us an additional new revenue stream and fastrack approval of China RapiMeds under the ScripsAmerica X-mas tree! ......also Santa Bob, the bashers are asking that you bring them brains and an ounce of self respect in making the right choices in there lowly investor lifes!.............we believe,we believe........tryz
Are you still recommending WNTR as a buy at these levels?
Yeah I missed out when it was .0042
Cats...i like it a lot and that should speak volumes as we wait on ScripsAmerica....those who have a few bucks on the side could make out real well with WNTR....let the core gang know and share with others........thanks,tryz
Thanks for the heads up Tryz. Might be worth checking out. Go SCRC!
WNTR....while we wait on SCRC to ascend , this WNTR might be something to look at , I researched the stock and its due diligence with a great story line unfolding....low float 86 million with 610 million outstanding[3 insiders own over half].....pps at .0042....massive momo and trading volume over the past week!!!..........imho,tryz
Yep definitely looking forward to a catalyst.
Cats...i'm sure he will but for now we wait until the next catalyst unfolds imho........tryz
Great radio interview with our CEO. Hopefully he has some news for us this month
SCRC....Great Radio Interview with ScripsAmerica CEO - Mr.Robert Schneiderman for all investors!!! > http://thestockradio.com/scrc-scripsamerica-ceo-robert-schneiderman/
SCRC......NEWS OUT!!!....ITS ALL KABOOM TIME GANG & ALL OF ASIA RAPIMEDS !!!!.... ScripsAmerica Moves to Finalize Negotiations With Major Chinese Distributors to Sell RapiMed(R) Throughout Asia
Company Forecasts Chinese Demand for RapiMed(R) Will Generate Multimillion Dollar Revenues During the First Year Following Its Launch
Press Release : ScripsAmerica, Inc. – 8 minutes ago
Symbol Price Change
SCRC 0.16
TYSONS CORNER, Va., Nov. 25, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. ( SCRC ) today announced that the Company's recent business development trip to China has generated strong interest from multiple large entities for the distribution of its RapiMed(R) children's pain reliever throughout Asia.
ScripsAmerica's sales team held negotiations with a large affiliate hospital network as well as representatives of a major health product retailer with over 2,000 stores and over 500 pharmacies across Greater Asia. Management reports that negotiations went very well with both entities expressing great interest in entering distribution agreements for RapiMed(R) upon the product's registration approval from the Chinese government. The Company forecasts that RapiMed(R) could generate multimillion dollar revenues during the first twelve to eighteen months following its launch in Asia alone.
ScripsAmerica's CEO Bob Schneiderman said, "Our sales team reported strong indications of interest from two major potential distribution partners in China. Both the hospital network and major retailer we met with reported increasing demand from their patients and customers for safe, reliable and effective Over-the-Counter (OTC) children's pain and fever relievers due to epidemic levels of dangerous counterfeit medications being sold in China's $32 billion OTC market. Furthermore China's recent loosening of its one child restrictions for families will also contribute to a boom in the market for safe, effective U.S. manufactured child medication products like RapiMed(R) as it will likely add several million babies to the Chinese population over the next five years."
"Based upon this one child policy news, we can already see rapid share price increases of publicly traded companies on Chinese Exchanges that specialize in infant and baby products. Because RapiMed(R)'s quick-dissolving, waterless technology is the ideal medicinal delivery method for children, the lifting of its one-child policy represents incredible market opportunities for ScripsAmerica in China," Schneiderman added.
"In our efforts to maximize RapiMed(R)'s market penetration in Asia, we will continue to aggressively establish and cultivate relationships with Chinese distributors. ScripsAmerica's goal is to sell RapiMed(R) in major retail distribution outlets throughout China such as WalMart China, Carrefour, and RT Mart International. We firmly believe that 2014 will be a breakout year for ScripsAmerica and our shareholders," concluded 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 .
....
SCRC...FOOD FOR THOUGHT INVESTORS & MASSIVE REVENUE POTENTIAL TO CHINA RAPIMEDS !!! > ... In its latest report, the IMS Institute highlights the following.....IMS Health Study Forecasts Global Spending on Medicines to Reach $1 Trillion Threshold in 2014, Driven by Greater Access
Growth Expected to Accelerate from Low Point in 2013 To 5-7 Percent in 2017;
Rising Number of Innovative New Drugs Expected to be Approved Over Next Five Years
Press Release: IMS Health – Tue, Nov 19, 2013 12:06 PM EST.. findings:
•Structural changes within healthcare systems globally are creating divergent trends. In the U.S., uncertainties with the implementation of the Affordable Care Act could result in a number of potential outcomes, ranging from: disparate enrollment levels of uninsured and under-insured populations; the extent to which there is a shift in focus on preventive medicines versus acute care; changes from fee-for-service to performance/outcomes-based payment models; and the degree of cost shifting to patients via higher deductibles and/or co-pays. With the aging population in Japan driving a rapid increase in demand for medicines, the government there has recently mandated that 60 percent of all prescribed off-patent drugs are to be dispensed as generics by 2018 – an action that would double current levels and is unprecedented in any country. In Europe, patients’ ability to utilize innovative medicines will be influenced by the impact of potential new austerity measures and the extent to which countries generate savings through greater use of generics. China, in the midst of a massive expansion of its healthcare system, will transform the medicines market with its goal of universal coverage by 2020; the country will represent 34 percent of total growth in global medicine spending over the next five years. .... http://finance.yahoo.com/news/ims-health-study-forecasts-global-170600581.html
Thanks for the reply Tryz, long and strong!
Cats....the foundation has been laid out for China RapiMeds in SCRC Press Releases in a strategic way where the next bit of news released should be the Kaboom thats anticipated by all shareholders....Mr.Bob Schneiderman comes thru very shortly in lining his ducks in order......all imho and waiting patiently as well,tryz
How're you feeling about receiving any word about China deals this month, this year?
We are getting alot of good things linning up Great PR today, Go SCRC!!! Tut
Great news this morning Tryz! Always moving forward
ScripsAmerica Closes Equity Transaction With Institutional Investor Ironridge Consumer Co.
Date : 11/20/2013 @ 8:30AM
Source : GlobeNewswire Inc.
Stock : Scripsamerica (QB) (SCRC)
Quote : 0.152 0.0 (0.00%) @ 5:32AM
ScripsAmerica Closes Equity Transaction With Institutional Investor Ironridge Consumer Co.
PrintAlert
Scripsamerica (QB) (OTCBB:SCRC)
Intraday Stock Chart
Today : Wednesday 20 November 2013
ScripsAmerica Inc. (OTCBB:SCRC), today announced that the Company has satisfied $686,962 in trade payables and outstanding convertible notes in exchange for the issuance of shares of its common stock to Ironridge Consumer Co., a division of institutional investor Ironridge Global IV, Ltd. ("Ironridge") which specializes in direct equity investments in consumer product companies.
With $686,962 removed from its balance sheet as a result of this transaction, the financing has paid for ScripsAmerica's cost of goods to supply its RapiMed® Children's Pain and Fever Reducer product to retail outlets in China as well as to pay outstanding promissory notes.
"China is the world's second largest economy and has been among the world's fastest growing economies for three decades," commented John C. Kirkland, Managing Director of Ironridge Global Partners, LLC. "I have personally seen the increasing demand for U.S. manufactured pharmaceuticals in Beijing, Shanghai and throughout China. According to researchers in the September 2013 Journal of the American Medical Association, poor nutrition in utero and in early life may be a contributing factor. ScripsAmerica's management team has done an excellent job of increasing sales and driving growth in different areas of their business and we are very pleased to provide funding that will enable the rollout of new products in a large new market."
"Ironridge is one of the best investment partners we've ever dealt with. Their support comes at an optimal time as our business development team is currently securing RapiMed's distribution channels and ensuring our presence in the Chinese consumer market," explained Bob Schneiderman, ScripsAmerica's Founder and CEO.
"This strategic partnership with Ironridge allows us to pay down debt and aggressively rollout RapiMed accounts in China while also implementing effective in-store marketing campaigns that will help ensure a successful product launch," added Jeff Andrews, CFO of ScripsAmerica.
About Ironridge
Ironridge Consumer Co. is a division of Ironridge Global IV, Ltd., an institutional investor, making direct equity investments in micro-cap public companies. Its Liability for Equity program allows public companies to satisfy trade payables, debts and other liabilities in exchange for unregistered common stock utilizing a Section 3(a)(10) fairness hearing.
Ironridge Global is the industry leader in this innovative financing structure, which substantially reduces the transactional costs and time necessary to complete a deal. The fund has entered into more than 50 equity financing transactions since 2011, ranging from under a quarter million to over $15 million each. Ironridge Global seeks to be a long-term financial partner, assisting public companies in financing growth and expansion by supplying innovative funding solutions and flexible capital. For more information on Ironridge Global Partners, please visit www.ironridgeglobal.com.
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.
I feel the China syndrome as well!! Go SCRC!! Tut
Would love to have some positive news soon. Don't want to test the 52w lows. Ready for some movement going forward. I know Bob will take care of us loyal shareholders with news soon...IMO
$DDCC Effective on February 9, 2011 the company entered into an agreement between the Company and Richard and Gloria Kwiatkowski (“the Seller”). The Option provides for the development of 136 claim units covering a series of nickel-colbalt-gold-platinum group element prospects, which prospects are located 35 kilometers northwest of Thunder Bay, Ontario (the “Prospects”).
The Company in February 2013 paid the $30,000 liability via stock by issuing 2,727,300 shares of stock.
Cats...you can count on it i'm sure...here's hoping its of real magnitude catching everyone off guard and knowing now that the recent 10Q was complete garbage that has been cleaned up after new financing was given to proceed with RapiMeds launch as promised....we are in the basement heading north from here and no looking back this time around....all the hard work by the CEO of ScripsAmerica > Mr. Bob Schneiderman and in depth due diligence will pay itself off imho...Next week could get very exciting and waiting patiently like everyone else for New News to be released.......all imho,tryz
Great opportunity at these levels for someone to take a starter position or to add to their core.
Hope we have some good, positive news soon.
SCRC....Excellant 8k just filed and someone please post this on SCRC [i-hub] forum for all to see : > ....
Item 1.01 Entry into a Material Definitive Agreement.
On November 8, 2013, the Registrant entered into a written agreement with Wholesale Rx, Inc. (“WholesaleRx”) (effective retroactively to November 1, 2013) pursuant to which, among other things, the Registrant agreed to make an equity investment in WholesaleRx in the amount of $400,000 for 12,000 shares, which represents a 20% interest in WholesaleRx. The Registrant will pay the subscription amount in three installments ($150,000 upon execution of the agreement, $125,000 on December 31, 2013 and $125,000 on February 15, 2014). A proportionate number of the shares of WholesaleRx will be released to the Registrant from an escrow agent upon each payment. However, the Registrant will have the full rights of a shareholder as to all 12,000 shares. The agreement also provides the Registrant with a right of first refusal for (i) any proposed transfer of shares by the current owners of WholesaleRx and (ii) any financing (debt or equity) by WholesaleRx.
In the agreement, the Registrant also agreed to provide purchase order financing to WholesaleRx through a related third party financing source with which the Registrant has a pre-existing relationship. Under this arrangement, when WholesaleRx needs to fund the purchase of product to fill an order, the Registrant would secure advances financing from the third party financing source and then turn around and lend the money directly to WholesaleRx, which must repay the advance from the Registrant within 24 calendar days (which is six days before the Registrant must repay the third party financing source). The loans from the Registrant to WholesaleRx are secured by certain assets of WholesaleRx (including any proceeds from such assets), and WholesaleRx has agreed to indemnify and hold the Registrant harmless for any claims, charges and demands resulting from or arising out of any purchase order financing with the third party financing source.
In consideration for providing financing for WholesaleRx’s purchase orders, and to cover the Registrant’s costs in administering the purchase order financing, WholesaleRx has agreed to pay the Registrant on or before the 15th calendar day of each month 20% of the gross profit for the prior calendar month (which gross profit would consist of (i) sales to all customers minus (ii) cost of goods sold, freight in (to WholesaleRx), credits and allowances). If WholesaleRx is late in paying such 20% fee, then the amount owed will accrue interest at the rate of 18% per annum until paid.
PART III
MISCELLANEOUS
10. (a) Upon execution of this Master Agreement, WholesaleRx shall deliver to ScripsAmerica true and correct copies of all state and federal licenses, authorizations and qualifications to engage in the drug sales and distribution business which is the basis for this Master Agreement and copies of Certificates of Insurance and coverage pages of all insurance policies then in force.
(b) Prior to the execution of this Master Agreement, WholesaleRx has provided ScripsAmerica with a schedule of all liabilities as of the date indicated, a copy of which is attached hereto and made a part hereof, as Exhibit A. WholesaleRx, Justin Rotenberry and Richie Gross represent and warrant that such schedule is true and correct and complete, and that there are no other liabilities except as listed thereon.
11. WholesaleRx, Justin Rotenberry and Richie Gross acknowledge awareness that ScripsAmerica is a publicly-trading company which files periodic reports with the US Securities and Exchange Commission, and that such reports include audited and/or reviewed financial statements. WholesaleRx, Justin Rotenberry and Richie Gross also acknowledge awareness that the requirements of GAAP may require that WholesaleRx’s financial statements be consolidated with those of ScripsAmerica due to the financial arrangements. Being aware of the time deadlines for the filing of ScripsAmerica’s periodic reports, WholesaleRx, Justin Rotenberry and Richie Gross agree that they will fully and promptly cooperate, in good faith, with requests from ScripsAmerica and/or its attorneys, accountants and auditors for access to all financial records and related files and documents and, if required, an audit and/or review of the annual and quarterly financial statements of WholesaleRx. All costs associated with such audit and/or review shall be paid by ScripsAmerica.
Alleyba: thanks for your excellent compilation of strong points that will be working from now on in SCRC's favor, especially now that little of the convertible note problem is left. Bob Schneiderman's leadership qualities are more in evidence than ever.
I can't wait to hear what will be reported now about how the prospects for China look, and if any deals have already been achieved,
Great points, Tryz. Now that the team that visited China is on its way back, an update, probably a PR, could come at any time. Bub S is not in the habit of underperforming or of letting down investors' expectations.
SCRC....NEWS OUT and will there be any doubting that ScripsAmerica will rise to great heights with China delegation team and ScripsAmerica sales group to RapiMeds purchase orders looming news back anyday now....keep it coming CEO - Mr. Bob Schneiderman blockbuster news and the news heat keeps coming..we now have the potential to two [PIMD & WHOLSESALE RX] pharma wholesalers to distribute controlled substances sales with licensing obtained > November 11, 2013 - 8:30 AM EST
ScripsAmerica Takes Equity Position in Tennessee Distributor Wholesale Rx
Investment Expected to Significantly Increase Revenues by Expanding Pharmaceutical Distribution into New States
TYSONS CORNER, Va., Nov. 11, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), today announced that it has agreed to invest in Wholesale Rx "WRx" in exchange for an equity position in the company.
ScripsAmerica and WRx, a Tennessee-based pharmaceutical distributor, entered into a sales and financing agreement in August of this year to provide independent pharmacies with prescription drugs. The endeavor has generated $318,026 during its initial three months, demonstrating faster revenue growth than expected. The funds from ScripsAmerica's investment will be used to expand WRx's business by obtaining licenses that will permit the company to distribute pharmaceuticals in additional states.
"We are very pleased to announce this positive development to our shareholders. The rapid revenue growth and tremendous potential of WRx's pharmaceutical distribution business have caused Scrips' decision to increase our investment in their operation. By obtaining licenses to distribute prescription drugs in additional states, we believe we can quickly replicate our current success and significantly accelerate revenue growth in this area of our business," stated CEO of ScripsAmerica, Bob 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. .......enjoy your day longterm investors,tryz
THANKS Alley.....keep it coming my friend and your posts are well rewarding to read along with your passion of insight to SCRC.....this forum site was created to be used and shared as a longterm home for people such as yourself and others without the bullsh*t attatched to it,count on it.........tryz
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Visit RapiMed’s Homepage!
RapiMed® is an innovative pharmaceutical and OTC oral delivery method utilizing “Quick Melt Technology”. RapiMed® oral tablets dissolve in 30 seconds or less, providing rapid delivery of medicine without water. RapiMed® technology can be applied to a wide variety of drugs, providing pharmaceutical and OTC companies the highly valuable opportunity for product line extension and diversification.
ScripsAmerica holds the exclusive rights to Rapimed and anticipates the launching of its first line of products in Q4 2013. The first RapiMed product to enter the market will be 80mg and 160mg Acetaminophen, which is the base formulation in Tylenol. This product will target children 2-11 years old and provide ease of administration as well as safe and effective dosage applications.
Upon the launch of RapiMed® and the establishment of national distribution outlets, ScripsAmerica intends to launch additional RapiMed® medicine and vitamin categories that will be marketed and distributed into the already established distribution down-line. These additional medicine and vitamin categories include:
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