ScripsAmerica Inc. (SCRCQ)

[coolerheadsprevail]

Come to think of it, I haven't seen anything from them lately. No PIMD numbers for April. No Diabetic Supply updates...nothing. Did they just give up? Go on vacation? What the heck is going on over there?

SCRC actually stopped PR'ing the PIMD numbers last month and I don't think they have PR'd the Diabetic Supply numbers at all over the past many months either. Although SCRC may surprise us, history tells us that BS Schneiderman's MO is to stop PR'ing numbers if they start declining, which we know w/PIMD that their numbers dropped off a cliff in MAR and fell over 60% from FEB. SCRC followed the same MO back in late-2013 when they and their paid whores, JOEY Z and his fellow CORE criminals, loudly trumpeted WRx for a few months, then stopped altogether when it became clear that the numbers they were PR'ing didn't even belong to them and that when folks did the math they realized that WRx was only generating about $15k-$35k per month for SCRC.

That being said, given the issue with the 10K, as I had alluded to in a prior post, the longer the delay, the more likely it is that the reason is because the auditors are requiring SCRC to restate all the 2014 quarterly financials. And when a restatement is required, it generally means that GAAP was not properly applied -- and so if it had anything to do with how SCRC was recognizing revenues, then this "MAY" be a potential reason why numbers aren't being announced since SCRC may want to get its ducks in a row and make sure it is calculating and recognizing revenues properly before announcing them... ...of course, if this was the case, then SCRC would NOT have PR'd APR's numbers for Main Ave either -- but it did, so...

Of course, the most meaningful PR that we are wondering if it will ever come (besides the one telling us that CVS/Caremark is back, of course) would be the one announcing that the acquisition of the additional pharmacies has closed. All we have heard many many months ago was a PR touting a forward-looking statement that SCRC had entered into a Letter of Intent to acquire an equity interest in 1-2 additional pharmacies. Not only did SCRC never state how much of an interest (i.e. closer to 10% or closer to 90%?), SCRC never followed-up with any additional news/updates on this. Small business purchases such as this typically do not take more than 45-90 days to close escrow, so the fact that we have gone this long significantly diminishes the likelihood of any acquisition occurring... ...but again, anything can theoretically happen at any time, so folks are free to continuing "buying/holding/adding" if they so desire...