TYSONS CORNER, Va., June 10, 2015 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC) today announced today that the final phase of the auditing process for its 10K for 2014 and 10Q for Q1 2015 is scheduled to commence on June 22, 2015.
According to management, a scheduling conflict by the Company's auditors is the primary reason for the most recent delay of its filings and cites that ScripsAmerica has furnished all of the data requested by its auditors to complete its annual and quarterly reports.
ScripsAmerica is currently unable to project an exact date when it anticipates these financial reports will be filed, however has commented that it expects to file the 10K and 10Q approximately one day apart once they are complete, according to Jeffrey Andrews, the Company's Chief Financial Officer.
Bob Schneiderman, CEO of ScripsAmerica, commented, "Management wanted to update our shareholders and the rest of the investment community with the most recent information concerning Scrips' filings. Further, we would like to inform our shareholders that we recognize and appreciate their patience regarding this matter and assure them that this current delay is the result of a scheduling conflict by our auditors and not because of the Company's ability to provide the necessary and accurate financial information requested."
"I would also like to once again remind our shareholders that our auditor's work on the 10K and 10Q filings has not interfered with our operations or ability to execute our growth strategy," concluded Schneiderman.
About ScripsAmerica, Inc.
ScripsAmerica, Inc. is a supplier of prescription, OTC and nutraceutical drugs, delivering pharmaceutical products to a wide range of end users across the health care industry. End users include retail pharmacies, hospitals, long-term care facilities and government and home care agencies. For more information, visit www.ScripsAmerica.com.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether a result of new information, future events or otherwise.