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ALLEYBA SAYS..........................
...........that this news release helped to somewhat clarify the 10-K, in his opinion. With the many streams of revenue which are now starting to flow like a smooth scenic river, I think 2014 will be a good year for the shareholders. As SCRC expands their compounding business per the post last night that showed that compounding on a large scale is similar to a niche product, I think shareholders can feel pretty good, again in my opinion, if we just stay the course. I have always said this is a long term play
ScripsAmerica Files 2013 Annual Report and Management Comments on Revenue Recognition
GlobeNewswire ScripsAmerica, Inc.
7 hours ago
TYSONS CORNER, Va., April 16, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (SCRC) today announced that the Company has filed its 10-K Annual Report for 2013 with the Securities & Exchange Commission (SEC).
ScripsAmerica's Gross Revenue generated in the year ended December 31, 2013 increased from $5,583,000 in 2012 to $7,335,000 in 2013 as displayed on page 29 of ScripsAmerica's 10-K under the "Products Sold" column in the section titled "Revenues Net." This increase of $1,752,000 represents an increase of 31% for 2013 over 2012.
Due to financial reporting requirements, ScripsAmerica can report only the net profits from its Joint Government contract and pharmaceutical partner and not the top line revenue, which will continue at an accelerated pace for the remainder of 2014.
"In conjunction with the reporting of its financials for last year, management feels it is very important to remind our shareholders that the Company's required accounting method has a significant impact on reportable revenues from our government joint venture and pharmaceutical equity venture, both of which will continue to generate revenue and profits for ScripsAmerica, increasing shareholder value," commented Bob Schneiderman, CEO of ScripsAmerica.
