By the way, what ever happened to that China deal?
The RapiMeds launch into mainland China never materialized. What was touted by SCRC as the imminent signing of large-scale distribution deals with "thousands" of local pharmacies never happened as we found out in FEB that SCRC never even applied for regulatory approval in China. It only applied for Hong Kong, and from this SCRC only secured 1 order for $200k, which -- 4 months later -- we finally find out that SCRC just now sourced a manufacturer. So, at this point we are waiting for word that this first (and only) RapiMeds order has shipped to the client.
We are also waiting to hear if SCRC is able to report any additional RapiMeds sales in Hong Kong. We are also continuing to wait to hear from SCRC on its status in obtaining regulatory approval in mainland China. When Hong Kong was announced instead of the mainland China that shareholders had been expecting, it had been conveyed that the China application was still in the sorks and that it would be faster than the normal 30-60 process because it had already been approved in Hong Kong. Well, almost 120 days later, we still hear nothing but crickets re: mainland China.
THAT BEING SAID, the good news is that SCRC has stumbled onto a revenue source that, IMO, is far more lucrative than RapiMeds... ...Main Avenue compounding pharmacy. (caveat: The only exception where RapiMeds may become a goldmine that could exceed even Main Ave would be if SCRC did indeed sign an agreement that enabled RapiMeds to immediately hit the shelves of the "thousands" of retail outlets in mainland China that are part of the chain/system that SCRC alluded to in its NOV-2013 PR)
It started in FEB-2014, and since then, here is the monthly revenues it has reported:
Everyone is eager to see what the JUN revenues will be.
But, as you know, this is just the revenue piece of the puzzle. The expenses are another beast altogether. And you are already well aware of the balance sheet issues and "challenges" related to the capital structure here (specifically 21M+ shares of .05 stock via PIPE sales since the beginning of the year which are scheduled to begin unlocking potentially as early as 6/28/14)...
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