ScripsAmerica Inc. (OTCBB:SCRC) With A Strong Momentum, Closing In On $1
ScripsAmerica Inc. (OTCBB:SCRC) are tearing up the stockchart. In the yet another close in the green the company picked up speed, added 15% and closed at $0.68. The traded volume of 700 thousand shares doubled the average amount and shows that investors are becoming more and more interested in the stock.
For the past three weeks SCRC has been on a steep climb and are showing no signs of slowing down. Starting from as low as $0.15 they have increased in value by more than half a dollar. Even more impressive is that in the current trend they’ve had only one negative market day andeven then
the stock closed at the opening price and refused to slide downwards.
SCRC are a pharmaceutical company that in a stark contrast to most of the other pennystocks operating in the same industry have a real product and are generating revenues. For the quarter ending March 31 they disclosed the following results:
- $3309 cash
- $2 million total current assets
- $1.9 million total current liabilities
- $287 thousand revenues
- $720 thousand net loss
They are still heavily reliant on the issuance of stocks in order to secure additional funding. The outstanding amount of common shares of 61 million is relatively small though when compared to the numbers we usually see. SCRC have also began paying their convertible notes instead of converting them into common shares and suffering even further dilution.
The recent unprecedented optimism that is supporting the climb of the ticker can be largely attributed to the launch of their RapiMed(R) that is expected to start in September. The drug is going to relieve pain and reduce fever in small children. The 
company has already signed an agreement with Capricorn Pharma, Inc. for the manufacturing of the new product and have secured a supplier in the face of DPG Distribution who are going to have exclusive rights throughout North America.
During yesterdays session the stock of Xumanii, Inc. (OTCMKTS:XUII) continued to increase in value by adding 17% and closing at $0.35. But the major event that happened is the $3 million pump that was initiated for Sanborn Resources Ltd. (OTCBB:SANB).
