ScripsAmerica Inc. (SCRCQ)

[coolerheadsprevail]

I want to file additional complaints as suggested by ed longstock but I have no idea what 16B and 17B are.
I would appreciate any advice or suggestions.

With regards to 17(b), this is the section of the Securities Act of 1933 which governs the required behavior of individuals and entities who have been compensated in any form to promote or otherwise bring publicity to a company. The compensation does not need to be made by the company for Section 17(b) to apply.

Whether it is a MB post, a tweet, a phone call, a voicemail, a mailer, a newsletter, an article in a publication or on a website, a private email or text, Section 17(b) essentially states that if someone has been compensated, then that person is required to disclose not only the fact that he/she has been paid, but also the nature and amount of the compensation, each and every time he/she promotes or brings publicity to the company.

In addition, the compensation does not have to be simply cash or free shares of stock. It can also take the form of discounted stock... ...such as .05 PIPE stock when the market value was hundreds of percents higher at the time the deals were being negotiated.

For your reference, here are a couple of SEC Enforcement Actions involving non-disclosing promoters in violation of Section 17(b) of the Securities Act of 1933 that are relevant to what we have and continue to witness here w/SCRC:

http://www.sec.gov/litigation/admin/33-7885.htm

The enforcement action in the first link above is relevant because it was the first time that the SEC applied Section 17(b) to internet-based promotions, so this case set the precedent.

All it took was this one tout on an internet MB for 5,000 lousy shares worth of compensation for the SEC to crucify the schmuck. Too bad the SEC has set such a high materiality threshhold now, but it was clear by this case that the SEC was looking to set a precedent and used a measly 5k share violation to do so.


http://www.sec.gov/litigation/litreleases/2014/lr22928.htm

The enforcement action in the second link above is not only fairly recent but interesting because it includes many elements that existed and continues to exist here w/SCRC, such as... ...promoting the false existence of a "float lockdown" w/SCRC stock... ...advising sheeple to buy/hold/add but don't sell/trade... ...undisclosed compensation by the company... ...secretly selling while encouraging others to buy/hold/add...


Hope this helps... ...but as you stated that you were one of the financiers who participated in the toxic .05 PIPE financing, then you will be hard-pressed to find any sympathy amongst legitimate shareholders whom the PIPE-holders cut in line in front of, as those who know the criminal CORE members such as JOSEPH ZAMPETTI, SEAN FITZGIBBONS, et al know full well that only the CORE were invited to participate in this deal -- everyone else and their friends and family were simply "invited" to buy the stock on the open market so that they wouldn't "lose out" on a "once in a lifetime" opportunity to buy SCRC at "absurdly low prices"...