ScripsAmerica, Inc. (OTCMKTS:SCRC) is making a reversal off its recent all-time lows of $0.0215 on accelerating volume. The stock was trading as high as $0.2199 back in February of this year.
On July 23 SCRC announced the Company’s specialty pharmacy operations recorded $2.23 million in approved orders during the combined months of May and June 2015.
“Recent changes in insurance coverage and nationwide policies have attributed to a decrease in volume for the specialty pharmacy industry as a whole which has impacted our sales. As a result, management has been working diligently to expand our product and service offerings, distribution network and revenue stream in this market. ScripsAmerica has simultaneously continued to add clients and revenue in our diabetic, dispensing and wholesale divisions, which we believe will steadily contribute to an increase in shareholder value,” commented Brian Ettinger, Interim CEO of ScripsAmerica.
ScripsAmerica, Inc. (OTCMKTS:SCRC) highly efficient marketing and distribution platform provides their clients with competitive pricing and seamless access to a broad customer base. SCRC has built strong relationships across the entire drug distribution chain, from the wholesalers and manufacturers to the end distribution outlets, allowing it to achieve minimum turn-around time and maximum shelf-life for its products.
SCRC has been putting out a number of significant press releases in recent weeks including the one on June 3 that started it all; they announced that the Company has begun discussions with Forbes Investment Ltd. to market, supply, distribute and adapt its RapiMed(R) products throughout China. According to Kline and Company, the Chinese OTC market is valued at over $32 Billion Dollars.
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Jun Liang, Manager of Forbes Ltd. in Shenzhen, China, is arranging for ScripsAmerica to meet with its pharmacy and hospital buying networks as part of an upcoming sales agreement that would introduce RapiMed(R) into the Chinese OTC drug market. Liang said, “ScripsAmerica’s RapiMed Products are uniquely formulated to meet China’s market needs. It allows the country’s pharmaceutical companies, hospitals, nursing facilities, research institutes and the military to adapt RapiMed to fit their situations.”
On April 6 SCRC announced Approved Orders and Preliminary Revenues and Net Income for the first quarter of fiscal 2015. For the first quarter of fiscal 2015, based on strong growth at Main Avenue Pharmacy and PIMD International as well as in the Company’s Diabetic Supply Program, ScripsAmerica is expected to generate net income of $400,000 on nearly $10 million of revenue, significant increases from revenue of $617,000 and a loss of $1.2 million for the same period in 2014. Growth at Main Avenue Pharmacy was driven by over $8.7 million of first quarter Approved Orders.
CEO Bob Schneiderman said, “Fiscal 2015 is off to a great start with outstanding growth in all of our businesses leading to over $400,000 of first quarter net income. The addition of the pharmacies currently under Letter of Intent should help accelerate growth in our specialty pharmacy business.
Our Diabetic Supply Program is rapidly approaching 1,000 enrollees, a point where we believe it will start to make a meaningful contribution to our overall operations. And, as the business grows, our scale is beginning to benefit our cost of operations, which are decreasing as a proportion of total revenues. With a number of additional, exciting developments in progress, such as rolling out new products in our specialty pharmacy business and the introduction of a Physician Dispensing Program, we believe 2015 will be a tranformational year in which we build tremendous value for shareholders in ScripsAmerica.”
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Currently trading at a $15.7 million market valuation SCRC has been reporting spectacular revenues growth however they are late on the 10k and we don’t know all the numbers yet. The stock is seeing red on what looks like pipe conversions. We will be updating on SCRC on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with SCRC.
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Disclosure: we hold no position in SCRC either long or short and we have not been compensated for this article.