POS AM 1 rxscriptedposam.htm rxscriptedposam.htm


As filed with the Securities and Exchange Commission on October 1, 2009

Registration No. 333-152444

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

POST-EFFECTIVE AMENDMENT NO. 1 TO FORM S-1

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

RX SCRIPTED, INC.
(Name of registrant in its charter)

Nevada
7380
26-1580812
(State or jurisdiction of incorporation or organization)
(Primary Standard Industrial
Classification Code Number
(IRS Employer
Identification No.)

201 Creekvista Drive
Holly Springs, North Carolina 27540
(919) 552-3133
 (Address and telephone number of principal executive offices and principal place
of business or intended principal place of business)

Incorp Services, Inc.
375 N. Stephanie Street, Suite 1411
Henderson, Nevada, 89014-8909
(702) 866-2500
 (Name, address and telephone number of agent for service)

Copies to:

David M. Loev
 
 John S. Gillies
The Loev Law Firm, PC
 
The Loev Law Firm, PC
6300 West Loop South, Suite 280
&
6300 West Loop South, Suite 280
Bellaire, Texas 77401
 
Bellaire, Texas 77401
Phone: (713) 524-4110
 
Phone: (713) 524-4110
Fax: (713) 524-4122
 
Fax: (713) 456-7908

Approximate date of proposed sale to the public:
as soon as practicable after the effective date of this Registration Statement.





If any of the Securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ý

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of earlier effective registration statement for the same offering. ¨

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer  ¨
Accelerated filer   ¨
Non-accelerated filer  ¨
Smaller reporting company  ý
 
The Registrant hereby amends its Registration Statement, on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.
 

EXPLANATORY NOTE

The registrant hereby amends this registration statement after the effective date of the registration statement, September 9, 2008, so as to be in compliance with Section 10(a)(3) of the Securities Act of 1933, as amended.  
 
 
 
 
 
 
 
 
 
 

PROSPECTUS

RX SCRIPTED, INC.

RESALE OF
232,500 SHARES OF COMMON STOCK

The selling stockholders listed on page 33 may offer and sell up to 232,500 shares of our common stock under this Prospectus for their own account.

In November 2008, we obtained quotation for our common stock on the Over-The-Counter Bulletin Board (“OTCBB”) under the symbol RXSS.OB; however, no shares of our common stock have traded to date and there is currently no public market for our common stock.  

We have generated limited revenues to date, had negative working capital of $85,036 and a total accumulated deficit of $116,286 as of July 31, 2009, and have budgeted the need for approximately $50,000 of additional funding during the next 12 months to continue our business operations and an additional $50,000 to expand our operations as planned.  If we are unable to raise adequate working capital for fiscal 2010, we will be restricted in the implementation of our business plan.  If this were to happen, the value of our securities would diminish and we may be forced to change our business plan for fiscal 2010, which would result in the value of our securities declining in value and/or becoming worthless.  If we raise an adequate amount of working capital to implement our business plan, we anticipate incurring net losses until a sufficient client base can be established, of which there can be no assurance.

A current Prospectus must be in effect at the time of the sale of the shares of common stock discussed above. The selling stockholders will be responsible for any commissions or discounts due to brokers or dealers. We will pay all of the other offering expenses.

Each selling stockholder or dealer selling the common stock is required to deliver a current Prospectus upon the sale. In addition, for the purposes of the Securities Act of 1933, as amended, selling stockholders may be deemed underwriters.

The information in this Prospectus is not complete and may be changed. We may not sell these securities until the Registration Statement filed with the Securities and Exchange Commission is effective. This Prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

THIS INVESTMENT INVOLVES A HIGH DEGREE OF RISK. YOU SHOULD PURCHASE SHARES ONLY IF YOU CAN AFFORD A COMPLETE LOSS. WE URGE YOU TO READ THE "RISK FACTORS" SECTION BEGINNING ON PAGE 10, ALONG WITH THE REST OF THIS PROSPECTUS BEFORE YOU MAKE YOUR INVESTMENT DECISION.

NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES, OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.


THE DATE OF THIS PROSPECTUS IS                        , 2009

TABLE OF CONTENTS


Prospectus Summary
6
Summary Financial Data
8
Risk Factors
10
Use of Proceeds
17
Dividend Policy
17
Legal Proceedings
17
Directors, Executive Officers, Promoters and Control Persons
17
Security Ownership of Certain Beneficial Owners and Management
19
Interest of Named Experts and Counsel
19
Indemnification of Directors and Officers
20
Description of Business
21
Description of Property
24
Management's Discussion and Analysis of Financial Condition and Results of Operations
25
Certain Relationships and Related Transactions
28
Executive Compensation
29
Corporate Governance
30
Controls and Procedures
30
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
31
Market for Registrant’s Common Stock
31
Descriptions of Capital Stock
31
Shares Available for Future Sale
32
Plan of Distribution and Selling Stockholders
33
Additional Information
35
Legal Matters
35
Financial Statements 
  F-1
   




PART I - INFORMATION REQUIRED IN PROSPECTUS

PROSPECTUS SUMMARY

The following summary highlights material information found in more detail elsewhere in the Prospectus. It does not contain all of the information you should consider. As such, before you decide to buy our common stock, in addition to the following summary, we urge you to carefully read the entire Prospectus, especially the risks of investing in our common stock as discussed under "Risk Factors." In this Prospectus, the terms "we," "us," "our," "Company," and "RX Scripted" refer to RX Scripted, Inc., a Nevada corporation, "Common Stock" refers to the Common Stock, par value $0.001 per share, of RX Scripted, Inc.

The Company was incorporated in North Carolina in 2004 as a limited liability company, and converted into a Nevada corporation in December 2007.  Since the Company’s inception in 2004, the Company has planned and executed over 50 medical meetings around the country.  The President and Chief Executive Officer, MaryAnne McAdams, has served as the Company’s only employee since inception.  Our mailing address is 201 Creekvista Drive, Holly Springs, North Carolina 27540, our telephone number is (919) 552-3133, and our fax number is (919) 552-3133.

The Company is an event planning consulting company engaged in the planning and execution of medical meetings and educational programs for nurses, physicians, pharmacists and other healthcare professionals.  We plan to work with pharmaceutical companies and other healthcare education consulting groups to provide complete event planning services.  We plan to provide these services at a discounted rate, while maintaining the highest level of service available in the industry to our customers.  Our goal is to provide each customer with personalized service throughout the planning and event process by assigning each event an Executive Producer (“EP”).  The EP will assume all responsibilities for the event, including regular communication with the client.  RX Scripted offers a variety of event planning services, based on individual customer’s needs.   In May 2006, we lost our largest client and as a result, our revenues dropped sharply.  We did not generate any revenues for the year ended January 31, 2008, and generated insignificant revenues for the year ended January 31, 2009, and the six months ended July 31, 2009.

Over the past few years, the medical meeting planning industry has seen many changes.  We believe that the biggest change in the industry is that pharmaceutical and other healthcare agencies are trying to remove themselves from the planning and execution process, in order to comply with new guidelines of the Pharmaceutical Research and Manufacturers of America (“PhRMA”), which were enacted in 2005.  We believe that this provides RX Scripted with a unique opportunity to “fill the gap” between the pharmaceutical/educational companies and their need to continue to provide educational and promotional events.

In order to provide its clients with a single source solution to their event planning needs, RX Scripted offers a wide range of services that encompass the event planning process including general management, concept creation, and execution. RX Scripted believes that its creative talent, personal service, leadership and its willingness to commit capital (funding permitting) to provide an increase in personnel, and to develop or acquire new clients will provide it with a competitive edge in the event planning and consulting industry, of which there can be no assurance.

The following summary is qualified in its entirety by the detailed information appearing elsewhere in this Prospectus. The securities offered hereby are speculative and involve a high degree of risk. See "Risk Factors."

-6-



SUMMARY OF THE OFFERING:

Common Stock Offered:
232,500 shares by selling stockholders
   
Common Stock Outstanding Before The Offering:
3,282,500 shares

Common Stock Outstanding After The Offering:
3,282,500 shares
   
Use Of Proceeds:
We will not receive any proceeds from the shares offered by the selling stockholders in this offering.
   
No Market:
While our common stock has been approved for trading  on the OTC Bulletin Board under the symbol “RXSS;” no securities have traded as of the date of this Prospectus. No assurance is provided that a market will be created for our securities in the future
   
Need for Additional Financing:
We have generated limited revenues to date and anticipate the need for approximately $50,000 of additional funding to continue our business operations for the next 12 months and an additional $50,000 to expand our operations, of which there can be no assurance will be raised.  If we are unable to raise the additional funding, the value of our securities, if any, would likely become worthless and we may be forced to abandon our business plan.  Even assuming we raise the additional capital we require to continue our business operations, we will require substantial fees and expenses associated with this offering, and we anticipate incurring net losses for the foreseeable future.
 
Address:
201 Creekvista Drive
 
Holly Springs, North Carolina 27540
   
Telephone Number:
(919) 552-3133

-7-

SUMMARY FINANCIAL DATA

You should read the summary financial information presented below for the years ending January 31, 2009 and 2008 and the three and six months ended July 31, 2009 and 2008. We derived the summary financial information from our audited financial statements for the years ending January 31, 2009 and 2008 and the unaudited interim financial statements for the three and six months ended July 31, 2009 and 2008, appearing elsewhere in this Prospectus. You should read this summary financial information in conjunction with our plan of operation, financial statements and related notes to the financial statements, each appearing elsewhere in this Prospectus.

SUMMARY BALANCE SHEET INFORMATION

   
July 31, 2009
   
January 31, 2009
   
January 31, 2008
 
                   
ASSETS
                 
                   
CURRENT ASSETS
                 
Cash and cash equivalents
  $ 843     $ 224     $ 1,959  
       Prepaid and other assets
    -       -       33,611  
          TOTAL ASSETS
  $ 843     $ 224     $ 35,570  
                         
                         
LIABILITIES AND STOCKHOLDERS' DEFICIT
                       
                         
CURRENT LIABILITIES
                       
Accounts payable and accrued expenses
  $ 6,220     $ 396     $ -  
Accounts payable and accrued liabilities - related party
    15,509       7,591       897  
Advances from related parties
    2,950       2,950       2,950  
Notes payable - related parties
    61,200       53,000       44,500  
                         
        TOTAL  LIABILITIES
    85,879       63,937       48,347  

 
-8-



SUMMARY STATEMENT OF OPERATIONS INFORMATION
 
   
Three Months Ended
July 31,
   
Six Months Ended
July 31,
 
   
2009
   
2008
   
2009
   
2008
 
REVENUES
                       
  Services
 
$
-
   
$
100
   
$
250
   
$
100
 
                                 
EXPENSES
                               
  Selling, general and administrative
   
12,363
     
8,967
     
19,844
     
18,536
 
     
12,363
     
8,967
     
19,844
     
18,536
 
                                 
LOSS FROM OPERATIONS
   
(12,363
)
   
(8,867
)
   
(19,594
)
   
(18,436
)
                                 
                                 
OTHER EXPENSES
                               
  Interest expense
   
964
     
684
     
1,729
     
1,352
 
                                 
NET LOSS
 
$
(13,327
)
 
$
(9,551
)
 
$
(21,323
)
 
$
(19,788
)

 
             
   
Years Ended January 31,
 
   
2009
   
2008
 
REVENUES
           
  Services
 
$
100
   
$
-
 
                 
EXPENSES
               
      Selling, general and administrative
   
76,563
     
12,854
 
                 
LOSS FROM OPERATIONS
   
(76,463
)
   
(12,854
)
                 
                 
OTHER EXPENSES
               
  Interest expense
   
2,723
     
897
 
                 
NET LOSS
 
$
(79,186
)
 
$
(13,751
)

-9-

RISK FACTORS

The securities offered herein are highly speculative and should only be purchased by persons who can afford to lose their entire investment in us. You should carefully consider the following risk factors and other information in this Prospectus before deciding to become a holder of our common stock. If any of the following risks actually occur, our business and financial results could be negatively affected to a significant extent.

The Company's business is subject to the following Risk Factors (references to "our," "we," "RX Scripted" and words of similar meaning in these Risk Factors refer to the Company):

General

WE REQUIRE ADDITIONAL CAPITAL IN ORDER TO TAKE THE NECESSARY STEPS TO GROW OUR BUSINESS.

Currently, RX Scripted does not have available funds to develop the marketing and advertising materials or fund other operating and general and administrative expenses necessary to grow its business.  Further, the Company does not have the funds available to hire independent contractors.  The Company does have an outstanding Revolving Credit Promissory Note with Kevin McAdams, the husband of our Chief Executive Officer MaryAnne McAdams (the “Note”) in the amount of $37,500; however, a total of $33,700 available under the Note had been borrowed as of July 31, 2009.  If we cannot secure additional financing, our growth and operations could be impaired by limitations on our access to capital. There can be no assurance that capital from outside sources will be available, or if such financing is available, that it will be on terms that management deems sufficiently favorable. If we are unable to obtain additional financing upon terms that management deems sufficiently favorable, or at all, it would have a material adverse impact upon our ability to conduct our business operations and pursue our expansion strategy.  As of the date of this report, we have only limited operations, and did not generate any significant revenues during the year ended January 31, 2008 or 2009, or the six months ended July 31, 2009.  In the event we do not raise additional capital from conventional sources, it is likely that we may need to scale back or curtail implementing our business plan, which could cause any securities in the Company to be worthless.

WE HAVE HISTORICALLY GENERATED LIMITED REVENUES AND HAVE GENERATED ONLY NOMINAL REVENUES FOR A PERIOD OF OVER TWO YEARS

We did not generate any revenues for the year ended January 31, 2008.  For the year ended January 31, 2009, we generated nominal revenues of $100 and for the six months ended July 31, 2009, we generated only nominal revenues of $250.  This lack of revenues is largely due to the fact that we lost our largest client in mid-2006 and the president and Chief Executive Officer, MaryAnne McAdams, went on personal leave shortly thereafter.  Even during the fiscal year ended January 31, 2007, the last time that we had revenues prior to the three months ended July 31, 2008; the revenues totaling $5,705 were insufficient to support our expenses.  Furthermore, we anticipate our expenses increasing in the future.  Although, Mrs. McAdams is now involved in the day to day operations of the business, as well as the strategy for future growth, we do not currently generate significant revenues and have only limited operations.  We can make no assurances that we will be able to generate any revenues in the future, that we will have sufficient funding to support our operations and pay our expenses and/or that we will be able to gain clients in the future to build our business operations.  In the event we are unable to generate revenues and/or support our operations, we will be forced to curtail and/or abandon our current business plan and any investment in the Company could become worthless.  

SHAREHOLDERS WHO HOLD UNREGISTERED SHARES OF OUR COMMON STOCK ARE SUBJECT TO RESALE RESTRICTIONS PURSUANT TO RULE 144, DUE TO OUR STATUS AS A “SHELL COMPANY.”

Pursuant to Rule 144 of the Securities Act of 1933, as amended (“Rule 144”), a “shell company” is defined as a company that has no or nominal operations; and, either no or nominal assets; assets consisting solely of cash and cash equivalents; or assets consisting of any amount of cash and cash equivalents and nominal other assets.  As such, we are a “shell company” pursuant to Rule 144, and as such, sales of our securities pursuant to Rule 144 are not able to be made until 1) we have ceased to be a “shell company; 2) we are subject to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, and have filed all of our required periodic reports for the prior one year period; and a period of at least twelve months has elapsed from the date “Form 10 information” has been filed with the Commission reflecting the Company’s status as a non-“shell company.”  Because none of our securities can be sold pursuant to Rule 144, until at least a year after we cease to be a “shell company”, any securities you purchase in an offering or that we issue to consultants, employees, in consideration for services rendered or for any other purpose will have no liquidity until and unless such securities are registered with the Commission, an exemption for sales can be relied upon other than Rule 144 and/or until a year after we cease to be a “shell company” and have complied with the other requirements of Rule 144, as described above.  As a result, you may never be able to sell shares you purchase in the Company, and it may be harder for us to fund our operations and pay our consultants with our securities instead of cash.  Furthermore, it will be harder for us to raise funding through the sale of debt or equity securities unless we agree to register such securities with the Commission, which could cause us to expend additional resources in the future.  Our status as a “shell company” could prevent us from raising additional funds, engaging consultants, using our securities to pay for any acquisitions (although none are currently planned), which could cause the value of our securities, if any, to decline in value or become worthless.   Furthermore, as we may not ever cease to be a “shell company,” investors who purchase shares of our securities may be forced to hold such securities indefinitely.
-10-

THE SUCCESS OF THE COMPANY DEPENDS HEAVILY ON MARYANNE MCADAMS AND HER INDUSTRY CONTACTS.

The success of the Company will depend on the abilities of MaryAnne McAdams, the President and Chief Executive Officer of the Company, to generate business from her existing contacts and relationships within the pharmaceutical and healthcare industry.  The loss of Mrs. McAdams will have a material adverse effect on the business, results of operations (if any) and financial condition of the Company.  In addition, the loss of Mrs. McAdams may force the Company to seek a replacement who may have less experience, fewer contacts, or less understanding of the business.  Further, we can make no assurances that we will be able to find a suitable replacement for Mrs. McAdams, which could force the Company to curtail its operations and/or cause any investment in the Company to become worthless.  The Company does not have an employment agreement with Mrs. McAdams nor any key man insurance on Mrs. McAdams.

OUR “AFFILIATES” EXERCISE MAJORITY VOTING CONTROL OVER THE COMPANY AND CONTROL OVER CORPORATE DECISIONS INCLUDING THE APPOINTMENT OF NEW DIRECTORS.

MaryAnne McAdams, our sole Director and officer can vote an aggregate of 1,500,000 shares of our common stock, currently equal to 45.70% of our outstanding common stock, and David M. Loev, our attorney, can vote an aggregate of 1,500,000 shares of our common stock, currently equal to 45.70% of our outstanding common stock.  Therefore, Ms. McAdams and Mr. Loev, our “affiliates” can currently vote 91.39% of our outstanding shares of common stock and will therefore exercise control in determining the outcome of all corporate transactions or other matters, including the election and removal of Directors, mergers, consolidations, the sale of all or substantially all of our assets, and also the power to prevent or cause a change in control. Any investors who purchase shares will be minority shareholders and as such will have little to no say in the direction of the Company and the election of Directors. Additionally, it will be difficult if not impossible for investors to remove Mrs. McAdams as a Director of the Company, which will mean she will remain in control of who serves as officers of the Company as well as whether any changes are made in the Board of Directors. As a potential investor in the Company, you should keep in mind that even if you own shares of the Company's Common Stock and wish to vote them at annual or special shareholder meetings, your shares will likely have little effect on the outcome of corporate decisions.

OUR SOLE OFFICER AND DIRECTOR HAS OTHER EMPLOYMENT OUTSIDE OF THE COMPANY, AND AS SUCH, MAY NOT BE ABLE TO DEVOTE SUFFICIENT TIME TO OUR OPERATIONS.

MaryAnne McAdams, our sole officer and Director, currently has employment outside of the Company.  As such, Mrs. McAdams only spends approximately 6 hours per week on Company matters and 10 hours per week working as an independent sales consultant to the Pharmaceutical Industry, and as such she may not be able to devote a sufficient amount of time to our operations.  This may be exacerbated by the fact that MaryAnne McAdams is currently our only officer and Director.  If Mrs. McAdams is not able to spend a sufficient amount of her available time on our operations, we may never gain any clients, may not ever generate any revenue and/or any investment in the Company could become worthless.
-11-

OUR LIMITED OPERATING HISTORY MAKES IT DIFFICULT TO FORECAST OUR FUTURE RESULTS, MAKING ANY INVESTMENT IN US HIGHLY SPECULATIVE.

We have a limited operating history, and our historical financial and operating information is of limited value in predicting our future operating results.  We may not accurately forecast customer behavior and recognize or respond to emerging trends, changing preferences or competitive factors facing us, and, therefore, we may fail to make accurate financial forecasts.  Our current and future expense levels are based largely on our investment plans and estimates of future revenue.  As a result, we may be unable to adjust our spending in a timely manner to compensate for any unexpected revenue shortfall, which could then force us to curtail or cease our business operations.

OUR LOSSES RAISE DOUBT AS TO WHETHER WE CAN CONTINUE AS A GOING CONCERN.

We had cumulative operating losses through July 31, 2009 of $116,286 and had a working capital deficit at July 31, 2009 of $85,036.  These factors among others indicate that we may be unable to continue as a going concern, particularly in the event that we cannot generate revenues, obtain additional financing and/or attain profitable operations. As such, there is substantial doubt as to our ability to continue as a going concern.  The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty and if we cannot continue as a going concern, your investment in us could become devalued or worthless.
 
WE HAVE BEEN CONTACTED IN CONNECTION WITH VARIOUS MERGER AND ACQUISITION OPPORTUNITIES AND MAY CHOOSE TO ENTER INTO A MERGER AND/OR ACQUISITION TRANSACTION IN THE FUTURE.
 
We have been contacted by parties seeking to merge and/or acquire us. While we have not entered into any definitive agreements or understandings to merge with or acquire any entity, in the event that we do enter into a merger and/or acquisition with a separate company in the future, or our controlling shareholders sell control of our Company, our majority shareholders will likely change and new shares of common stock could be issued resulting in substantial dilution to our then current shareholders. As a result, our new majority shareholders will likely change the composition of our Board of Directors and replace our current management. The new management will likely change our business focus and we can make no assurances that our new management will be able to properly manage our direction or that this change in our business focus will be successful. If we do enter into a merger or acquisition, and our new management fails to properly manage and direct our operations, we may be forced to scale back or abandon our operations, which will cause the value of our common stock to decline or become worthless. We have not entered into any definitive merger or acquisition agreements or finalized the terms of any transactions as of the date of this Prospectus.

OUR INDUSTRY IS HIGHLY COMPETITIVE.

The medical meeting and event planning industry is highly competitive and fragmented. The Company expects competition to intensify in the future. The Company competes in its market with numerous national, regional and local event production companies, many of which have substantially greater financial, managerial and other resources than those presently available to the Company. Numerous well-established companies are focusing significant resources on providing event marketing, design and production services that currently compete and will compete with the Company's services in the future.  Although we believe that there is a need for a “niche” business, such as ours and that can provide logistical expertise at a reduced cost, the Company can make no assurance that it will be able to effectively compete with these other companies or that competitive pressures, including possible downward pressure on the prices we charge for our services, will not arise. In the event that the Company cannot effectively compete on a continuing basis or competitive pressures arise, such inability to compete or competitive pressures will have a material adverse effect on the Company’s business, results of operations and financial condition.   
-12-

OUR GROWTH WILL PLACE SIGNIFICANT STRAINS ON OUR RESOURCES.

Since mid-2006, when Mrs. McAdams temporarily ceased performing services for the Company (although she remained as a manager of the Company’s predecessor entity, RX Scripted, LLC) to go on personal leave, the Company has had little to no operations.  In November 2007, Mrs. McAdams resumed performing services for the Company, as the Company’s President and Chief Executive Officer.  The Company is currently in the planning stage, with only limited operations, and is currently seeking out potential planning events and sources of revenue, although it has not generated any significant revenues since the year ended January 31, 2007, and such revenues were insufficient to support its ongoing expenses. The Company's growth, if any, is expected to place a significant strain on the Company's managerial, operational and financial resources as MaryAnne McAdams is our only officer and employee and the Company will likely continue to have limited employees in the future.  Furthermore, assuming the Company receives contracts, it will be required to manage multiple relationships with various customers and other third parties. These requirements will be exacerbated in the event of further growth of the Company or in the number of its contracts. There can be no assurance that the Company's systems, procedures or controls will be adequate to support the Company's operations or that the Company will be able to achieve the rapid execution necessary to successfully offer its services and implement its business plan. The Company's future operating results, if any, will also depend on its ability to add additional personnel commensurate with the growth of its business, if any. If the Company is unable to manage growth effectively, the Company's business, results of operations and financial condition will be adversely affected.

OUR ARTICLES OF INCORPORATION, AS AMENDED, AND BYLAWS LIMIT THE LIABILITY OF, AND PROVIDE INDEMNIFICATION FOR, OUR OFFICERS AND DIRECTORS.

Our Articles of Incorporation, generally limit our officers' and Directors' personal liability to the Company and its stockholders for breach of fiduciary duty as an officer or Director except for breach of the duty of loyalty or acts or omissions not made in good faith or which involve intentional misconduct or a knowing violation of law. Our Articles of Incorporation, as amended, and Bylaws provide indemnification for our officers and Directors to the fullest extent authorized by the Nevada Revised Statutes against all expense, liability, and loss, including attorney's fees, judgments, fines excise taxes or penalties and amounts to be paid in settlement reasonably incurred or suffered by an officer or Director in connection with any action, suit or proceeding, whether civil or criminal, administrative or investigative (hereinafter a "Proceeding") to which the officer or Director is made a party or is threatened to be made a party, or in which the officer or Director is involved by reason of the fact that he or she is or was an officer or Director of the Company, or is or was serving at the request of the Company as an officer or Director of another corporation or of a partnership, joint venture, trust or other enterprise whether the basis of the Proceeding is alleged action in an official capacity as an officer or Director, or in any other capacity while serving as an officer or Director. Thus, the Company may be prevented from recovering damages for certain alleged errors or omissions by the officers and Directors for liabilities incurred in connection with their good faith acts for the Company.  Such an indemnification payment might deplete the Company's assets. Stockholders who have questions respecting the fiduciary obligations of the officers and Directors of the Company should consult with independent legal counsel. It is the position of the Securities and Exchange Commission that exculpation from and indemnification for liabilities arising under the Securities Act of 1933, as amended and the rules and regulations thereunder is against public policy and therefore unenforceable.

IN THE FUTURE, WE WILL INCUR SIGNIFICANT INCREASED COSTS AS A RESULT OF OPERATING AS A FULLY REPORTING COMPANY IN CONNECTION WITH SECTION 404 OF THE SARBANES OXLEY ACT, AND OUR MANAGEMENT WILL BE REQUIRED TO DEVOTE SUBSTANTIAL TIME TO NEW COMPLIANCE INITIATIVES.

 Moving forward, we anticipate incurring significant legal, accounting and other expenses in connection with our status as a fully reporting public company. The Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act") and new rules subsequently implemented by the SEC have imposed various new requirements on public companies, including requiring changes in corporate governance practices. As such, our management and other personnel will need to devote a substantial amount of time to these new compliance initiatives. Moreover, these rules and regulations will increase our legal and financial compliance costs and will make some activities more time-consuming and costly. In addition, the Sarbanes-Oxley Act requires, among other things, that we maintain effective internal controls for financial reporting and disclosure of controls and procedures. Our compliance with Section 404 will require that we incur substantial accounting expense and expend significant management efforts. We currently do not have an internal audit group, and we will need to hire additional accounting and financial staff with appropriate public company experience and technical accounting knowledge. Moreover, if we are not able to comply with the requirements of Section 404 in a timely manner, or if we or our independent registered public accounting firm identifies deficiencies in our internal controls over financial reporting that are deemed to be material weaknesses, the market price of our stock could decline, and we could be subject to sanctions or investigations by the SEC or other regulatory authorities, which would require additional financial and management resources.
-13-

 

WE DO NOT CURRENTLY HAVE A PUBLIC MARKET FOR OUR SECURITIES. IF THERE IS A MARKET FOR OUR SECURITIES IN THE FUTURE, SUCH MARKET MAY BE VOLATILE AND ILLIQUID.

In November 2008, we obtained quotation for our common stock on the Over-The-Counter Bulletin Board (“OTCBB”) under the symbol RXSS.OB.  However, there is currently no public market for our common stock, and we can make no assurances that there will be a public market for our common stock in the future. If there is a market for our common stock in the future, we anticipate that such market would be illiquid and would be subject to wide fluctuations in response to several factors, including, but not limited to:

(1) actual or anticipated variations in our results of operations;

(2) our ability or inability to generate new revenues;

(3) increased competition; and

(4) conditions and trends in the medical event planning industry.

Furthermore, our stock price may be impacted by factors that are unrelated or disproportionate to our operating performance. These market fluctuations, as well as general economic, political and market conditions, such as recessions, interest rates or international currency fluctuations may adversely affect the market price and liquidity of our common stock.

INVESTORS MAY FACE SIGNIFICANT RESTRICTIONS ON THE RESALE OF OUR COMMON STOCK DUE TO FEDERAL REGULATIONS OF PENNY STOCKS.

Once our common stock will be subject to the requirements of Rule 15(g)9, promulgated under the Securities Exchange Act as long as the price of our common stock is below $5.00 per share. Under such rule, broker-dealers who recommend low-priced securities to persons other than established customers and accredited investors must satisfy special sales practice requirements, including a requirement that they make an individualized written suitability determination for the purchaser and receive the purchaser's consent prior to the transaction. The Securities Enforcement Remedies and Penny Stock Reform Act of 1990, also requires additional disclosure in connection with any trades involving a stock defined as a penny stock. Generally, the Commission defines a penny stock as any equity security not traded on an exchange or quoted on NASDAQ that has a market price of less than $5.00 per share. The required penny stock disclosures include the delivery, prior to any transaction, of a disclosure schedule explaining the penny stock market and the risks associated with it. Such requirements could severely limit the market liquidity of the securities and the ability of purchasers to sell their securities in the secondary market.
 
IF WE ARE LATE IN FILING OUR QUARTERLY OR ANNUAL REPORTS WITH THE SEC, WE MAY BE DE-LISTED FROM THE OVER-THE-COUNTER BULLETIN BOARD.

Pursuant to Over-The-Counter Bulletin Board ("OTCBB") rules relating to the timely filing of periodic reports with the SEC, any OTCBB issuer which fails to file a periodic report (Form 10-Q's or 10-K's) by the due date of such report (not withstanding any extension granted to the issuer by the filing of a Form 12b-25), three (3) times during any twenty-four (24) month period is automatically de-listed from the OTCBB. Such removed issuer would not be re-eligible to be listed on the OTCBB for a period of one-year, during which time any subsequent late filing would reset the one-year period of de-listing. If we are late in our filings three times in any twenty-four (24) month period and are de-listed from the OTCBB, our securities may become worthless and we may be forced to curtail or abandon our business plan.
-14-


STATE SECURITIES LAWS MAY LIMIT SECONDARY TRADING, WHICH MAY RESTRICT THE STATES IN WHICH AND CONDITIONS UNDER WHICH YOU CAN SELL SHARES.

Secondary trading in our common stock will not be possible in any state until the common stock is qualified for sale under the applicable securities laws of the state or there is confirmation that an exemption, such as listing in certain recognized securities manuals, is available for secondary trading in the state. If we fail to register or qualify, or to obtain or verify an exemption for the secondary trading of the common stock in any particular state, the common stock could not be offered or sold to, or purchased by, a resident of that state. In the event that a significant number of states refuse to permit secondary trading in our common stock, the liquidity for the common stock could be significantly impacted.

BECAUSE WE ARE NOT SUBJECT TO COMPLIANCE WITH RULES REQUIRING THE ADOPTION OF CERTAIN CORPORATE GOVERNANCE MEASURES, OUR STOCKHOLDERS HAVE LIMITED PROTECTIONS AGAINST INTERESTED DIRECTOR TRANSACTIONS, CONFLICTS OF INTEREST AND SIMILAR MATTERS.

The Sarbanes-Oxley Act of 2002, as well as rule changes proposed and enacted by the SEC, the New York and American Stock Exchanges and the Nasdaq Stock Market, as a result of Sarbanes-Oxley, require the implementation of various measures relating to corporate governance. These measures are designed to enhance the integrity of corporate management and the securities markets and apply to securities that are listed on those exchanges or the Nasdaq Stock Market. Because we are not presently required to comply with many of the corporate governance provisions and because we chose to avoid incurring the substantial additional costs associated with such compliance any sooner than legally required, we have not yet adopted these measures.
  
Because our Directors are not independent directors, we do not currently have independent audit or compensation committees. As a result, our Directors have the ability to, among other things, determine their own level of compensation. Until we comply with such corporate governance measures, regardless of whether such compliance is required, the absence of such standards of corporate governance may leave our stockholders without protections against interested director transactions, conflicts of interest, if any, and similar matters and any potential investors may be reluctant to provide us with funds necessary to expand our operations.

We intend to comply with all corporate governance measures relating to director independence as and when required. However, we may find it very difficult or be unable to attract and retain additional qualified officers, Directors and members of board committees required to provide for our effective management as a result of the Sarbanes-Oxley Act of 2002. The enactment of the Sarbanes-Oxley Act of 2002 has resulted in a series of rules and regulations by the SEC that increase responsibilities and liabilities of Directors and executive officers. The perceived increased personal risk associated with these recent changes may make it more costly or deter qualified individuals from accepting these roles.

NEVADA LAW AND OUR ARTICLES OF INCORPORATION AUTHORIZE US TO ISSUE SHARES OF PREFERRED STOCK, WHICH SHARES MAY HAVE RIGHTS AND PREFERENCES GREATER THAN OUR CURRENTLY OUTSTANDING COMMON STOCK.

Pursuant to our Articles of Incorporation, we have 100,000,000 shares of common stock and 10,000,000 shares of preferred stock authorized. As of September 30, 2009, we had 3,282,500 shares of common stock issued and outstanding and - 0 - shares of preferred stock issued and outstanding. As a result, our Board of Directors has the ability to issue a large number of additional shares of common stock without shareholder approval, which if issued would cause substantial dilution to our then shareholders. Additionally, shares of preferred stock may be issued by our Board of Directors without shareholder approval with voting powers, and such preferences and relative, participating, optional or other special rights and powers as determined by our Board of Directors. As a result, shares of preferred stock may be issued by our Board of Directors which cause the holders to have super majority voting power over our shares, provide the holders of the preferred stock the right to convert the shares of preferred stock they hold into shares of our common stock, which may cause substantial dilution to our then common stock shareholders and/or have other rights and preferences greater than those of our common stock shareholders. Investors should keep in mind that the Board of Directors has the authority to issue additional shares of common stock and preferred stock, which could cause substantial dilution to our existing shareholders. Additionally, the dilutive effect of any preferred stock, which we may issue may be exacerbated given the fact that such preferred stock may have super majority voting rights and/or other rights or preferences which could provide the preferred shareholders with voting control over us subsequent to this offering and/or provide those holders the power to prevent or cause a change in control. As a result, the issuance of shares of common stock and/or preferred stock may cause the value of our securities to decrease and/or become worthless.
-15-

WE HAVE NEVER ISSUED CASH DIVIDENDS IN CONNECTION WITH OUR COMMON STOCK AND HAVE NO PLANS TO ISSUE DIVIDENDS IN THE FUTURE.

We have paid no cash dividends on our common stock to date and it is not anticipated that any cash dividends will be paid to holders of our common stock in the foreseeable future.  While our dividend policy will be based on the operating results and capital needs of our business, it is anticipated that any earnings will be retained to finance our future expansion.









[Remainder of page left intentionally blank.]



-16-


USE OF PROCEEDS

We will not receive any proceeds from the sale of the selling shareholders shares of commons stock registered herein.

DIVIDEND POLICY

To date, we have not declared or paid any dividends on our outstanding shares. We currently do not anticipate paying any cash dividends in the foreseeable future on our common stock. Although we intend to retain our earnings to finance our operations and future growth, our Board of Directors will have discretion to declare and pay dividends in the future. Payment of dividends in the future will depend upon our earnings, capital requirements and other factors, which our Board of Directors may deem relevant.

LEGAL PROCEEDINGS

From time to time, we may become party to litigation or other legal proceedings that we consider to be a part of the ordinary course of our business. We are not currently involved in legal proceedings that could reasonably be expected to have a material adverse effect on our business, prospects, financial condition or results of operations. We may become involved in material legal proceedings in the future.

DIRECTORS, EXECUTIVE OFFICERS,
PROMOTERS AND CONTROL PERSONS

The following table sets forth the name, age and position of our Director and executive officer. There are no other persons who can be classified as a promoter or controlling person of us. Our sole officer and Director is as follows:

Name 
Age
Position
     
MaryAnne McAdams
37
Chief Executive Officer, President, Secretary, Treasurer and Director

MaryAnne McAdams

MaryAnne McAdams served as the manager of our prior operations as a limited liability company, under the name RX Scripted, LLC, from December 2004 to December 2007, when we converted to a Nevada corporation, and has since December 2007, served as our President, Chief Executive Officer, Secretary, Treasurer and Director.  Since April 2008, Mrs. McAdams has served as an independent sales consultant in the pharmaceutical industry, pursuant to which Mrs. McAdams spends approximately 15 hours per week of time.  From August 2003 to November 2004, Mrs. McAdams worked as a sole proprietor in the event planning business.  From July 2002 to July 2003, Mrs. McAdams served as an Oncology Specialty Sales Consultant with Berlex Laboratories.  From September 1999 to July 2002, Mrs. McAdams served as an Oncology Specialty Sales Representative with Immunex Corporation in Seattle, Washington.  From May 1997 to September 1999, Mrs. McAdams served as an Infectious Disease Senior Sales Specialist with Pharmacia & Upjohn in Kalamazoo, Michigan.  From August 1995 to April 1997, Mrs. McAdams served as a Specialty Sales Representative for Dura Pharmaceuticals in San Diego, California.  Mrs. McAdams obtained a Bachelor of Science degree in Education from the University of Georgia in 1994.

Mrs. McAdams is our only employee.  We do not have an employment agreement with Mrs. McAdams. Mrs. McAdams has employment outside of the Company and spends only approximately 10 hours per week on Company matters.

Our Director and any additional Directors we may appoint in the future are elected annually and will hold office until our next annual meeting of the shareholders and until their successors are elected and qualified. Officers will hold their positions at the pleasure of the Board of Directors, absent any employment agreement. Our officers and Directors may receive compensation as determined by us from time to time by vote of the Board of Directors. Such compensation might be in the form of stock options. Directors may be reimbursed by the Company for expenses incurred in attending meetings of the Board of Directors. Vacancies in the Board are filled by majority vote of the remaining Directors.
-17-

Control Persons:

David M. Loev is considered a control person of the Company due to the fact that he beneficially owns 45.70% of our common stock.  As such, Mr. Loev’s biographical information is provided below:

David M. Loev currently manages The Loev Law Firm, PC, which he founded as David M. Loev, Attorney at Law in January 2003, and which changed its name to The Loev Law Firm, PC in January 2007. Prior thereto, Mr. Loev served as a partner at Vanderkam & Sanders, a law firm specializing in corporate/securities matters. Prior thereto, Mr. Loev served as Chief Financial Officer, Treasurer, Secretary and General Counsel of PinkMonkey.com, Inc., an Internet publisher of educational study aids.  Mr. Loev received his law degree from Southern Methodist University in 1997 and received a B.B.A. in accounting from the University of Texas at Austin, Texas in 1992.  Mr. Loev was admitted to the State Bar of Texas in 1997.  Mr. Loev is also a Certified Public Accountant.

In 2005, Mr. Loev was a party to a civil lawsuit filed by the Securities and Exchange Commission (“Commission”) against a former client which he served as outside securities counsel to.   In connection with the lawsuit, the Commission alleged that Mr. Loev violated Sections 5(a) and 5(c) of the Securities Act of 1933, as amended (the “Securities Act”).  While Mr. Loev denied the Commission’s allegations, he chose to settle with the Commission in November 2005 (the “Settlement”), without admitting or denying the Commission’s claims against him, by consenting to the entry into an order enjoining him from violating the securities registration provisions of the Securities Act; ordering him to pay certain amounts in disgorgement and as a civil penalty; and prohibiting him from a) issuing Rule 504 opinions, which opinions provide for the issuance of shares of common stock free of restrictive legend; and b) accepting securities of any issuer whose securities are quoted on the Pink Sheets in consideration for legal or consulting services rendered.

As a result of the lawsuit filed by the Commission referenced above, the Texas State Board of Public Accountancy (the “Board”) filed a complaint against Mr. Loev alleging discreditable acts, violations of Professional Conduct, and conduct indicating a lack of fitness to serve the public as a professional accountant which resulted in an Agreed Consent Order.  In connection with the Agreed Consent Order, Mr. Loev was reprimanded and paid the Board an administrative penalty of $2,500 and $1,496 in administrative costs and agreed to complete four (4) hours of a Board approved ethics course, which has been completed to date.

We do not believe that Mr. Loev’s Settlement or the Agreed Consent Order will have any affect on the Company or on Mr. Loev’s ability to represent us as our securities counsel.

Involvement In Certain Legal Proceedings

There have been no events under any bankruptcy act, no criminal proceedings and no judgments, injunctions, orders or decrees material to the evaluation of the ability and integrity of any Director or executive officer, of the Company during the past five years, other than as provided above.

Independence of Directors
 
We are not required to have independent members of our Board of Directors, and do not anticipate having independent Directors until such time as we are required to do so.

Audit Committee

Due to the Company's size, the Board of Directors does not have an Audit Committee.
-18-

Code of Ethics
 
We have not adopted a formal Code of Ethics. The Board of Directors has evaluated the business of the Company and the number of employees and determined that since the Company is operated by a relatively small number of persons, general rules of fiduciary duty and federal and state criminal, business conduct and securities laws are adequate ethical guidelines.   In the event our operations, employees and/or Directors expand in the future, we may take actions to adopt a formal Code of Ethics.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT

The following table presents certain information regarding the beneficial ownership of all shares of common stock as of September 30, 2009 by (i) each person who owns beneficially more than five percent (5%) of the outstanding shares of common stock based on 3,282,500 shares outstanding as of September 30, 2009, (ii) each of our Directors, (iii) each named executive officer and (iv) all Directors and officers as a group.

Name and Address of Beneficial Owner
Shares Beneficially Owned
Percentage Beneficially Owned (1)
MaryAnne McAdams,
CEO, President, Secretary, Treasurer and Director
201 Creekvista Dr.
Holly Springs, NC  27540
1,500,000
45.7%
David M. Loev
6300 West Loop South
Suite 280
Bellaire, TX 77401
1,500,000(2)
45.7%
All Officers and Directors as a Group (1 person)
1,500,000
45.7%

(1) The number of shares of common stock owned are those "beneficially owned" as determined in accordance with Rule 13d-3 of the Exchange Act of 1934, as amended, including any shares of common stock as to which a person has sole or shared voting or investment power and any shares of common stock which the person has the right to acquire within sixty (60) days through the exercise of any option, warrant or right.

(2) Does not include the 275,000 shares of common stock which are issuable to Mr. Loev in connection with the conversion of his $27,500 Convertible Note (as described below), as such Convertible Note is only convertible if in default, and the Convertible Note is not currently in default and is not due and payable until October 31, 2009.

INTEREST OF NAMED EXPERTS AND COUNSEL

This Form S-1 Registration Statement was prepared by our counsel, The Loev Law Firm, PC.  David M. Loev, the manager of The Loev Law Firm, PC, and a control person of the Company (as described above) beneficially owns 1,500,000 shares of our common stock (the “Loev Securities”) and a Convertible Promissory Note, as described in greater detail under “Certain Relationships and Related Transactions,” below.  Neither Mr. Loev nor The Loev Law Firm, PC holds any other interest in the Company other than the Loev Securities and the Convertible Promissory Note.
 
EXPERTS

The financial statements of the Company as of January 31, 2009 and 2008 and for the years ended January 31, 2009 and 2008 and the period from December 30, 2004 (inception) to January 31, 2009, included in this Prospectus have been audited by GBH CPAs, PC, our independent auditors, as stated in their report appearing herein and have been so included in reliance upon the reports of such firm, given upon their authority as experts in accounting and auditing.

-19-

INDEMNIFICATION OF DIRECTORS AND OFFICERS

The Nevada Revised Statutes and our Articles of Incorporation allow us to indemnify our officers and Directors from certain liabilities and our Bylaws state that we shall indemnify every (i) present or former Director, advisory Director or officer of us, (ii) any person who while serving in any of the capacities referred to in clause (i) served at our request as a Director, officer, partner, venturer, proprietor, trustee, employee, agent or similar functionary of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, and (iii) any person nominated or designated by (or pursuant to authority granted by) the Board of Directors or any committee thereof to serve in any of the capacities referred to in clauses (i) or (ii) (each an “Indemnitee”).

Our Bylaws provide that we shall indemnify an Indemnitee against all judgments, penalties (including excise and similar taxes), fines, amounts paid in settlement and reasonable expenses actually incurred by the Indemnitee in connection with any proceeding in which he was, is or is threatened to be named as defendant or respondent, or in which he was or is a witness without being named a defendant or respondent, by reason, in whole or in part, of his serving or having served, or having been nominated or designated to serve, if it is determined that the Indemnitee (a) conducted himself in good faith, (b) reasonably believed, in the case of conduct in his Official Capacity, that his conduct was in our best interests and, in all other cases, that his conduct was at least not opposed to our best interests, and (c) in the case of any criminal proceeding, had no reasonable cause to believe that his conduct was unlawful; provided, however, that in the event that an Indemnitee is found liable to us or is found liable on the basis that personal benefit was improperly received by the Indemnitee, the indemnification (i) is limited to reasonable expenses actually incurred by the Indemnitee in connection with the Proceeding and (ii) shall not be made in respect of any Proceeding in which the Indemnitee shall have been found liable for willful or intentional misconduct in the performance of his duty to us.

Except as provided above, the Bylaws provide that no indemnification shall be made in respect to any proceeding in which such Indemnitee has been (a) found liable on the basis that personal benefit was improperly received by him, whether or not the benefit resulted from an action taken in the Indemnitee's official capacity, or (b) found liable to us.  The termination of any proceeding by judgment, order, settlement or conviction, or on a plea of nolo contendere or its equivalent, is not of itself determinative that the Indemnitee did not meet the requirements set forth in clauses (a) or (b) above.  An Indemnitee shall be deemed to have been found liable in respect of any claim, issue or matter only after the Indemnitee shall have been so adjudged by a court of competent jurisdiction after exhaustion of all appeals therefrom.  Reasonable expenses shall, include, without limitation, all court costs and all fees and disbursements of attorneys for the Indemnitee.  The indemnification provided shall be applicable whether or not negligence or gross negligence of the Indemnitee is alleged or proven.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling the Company pursuant to provisions of the State of Nevada, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in that Act and is, therefore, unenforceable.


-20-


DESCRIPTION OF BUSINESS

Overview

The Company was originally incorporated as a North Carolina limited liability corporation on December 30, 2004.  In December 2007, its managers decided it was in the best interests of the limited liability company to convert to a Nevada corporation, and as such, we filed Articles of Conversion on December 5, 2007 to reincorporate in Nevada.  Through the conversion, the sole interest holder of the limited liability company, MaryAnne McAdams, our sole officer and Director, exchanged 100% of the membership interests in the limited liability company for 1,500,000 shares of the Company’s common stock.  Other than the change from a North Carolina limited liability company to a Nevada corporation, the operations of the Company, debts, liabilities, employees and contracts all remained the same.  RX Scripted, Inc. was incorporated in Nevada on December 5, 2007 as a result of the filing of the Articles of Conversion.  Our mailing address is 201 Creekvista Drive, Holly Springs, North Carolina 27540, our telephone number is (919) 552-3133, and our fax number is 919-552-3133.

Business Operations

The Company is an event planning consulting company engaged in the planning and execution of medical meetings and educational programs for nurses, physicians, pharmacists and other healthcare professionals.  We plan to work with pharmaceutical companies and other healthcare education consulting groups to provide complete event planning services.  We plan to provide these services at a discounted rate, while maintaining the highest level of service available in the industry to our customers.  Our goal is to provide each customer with personalized service throughout the planning and event process by assigning each event an Executive Producer (“EP”).  The EP will assume all responsibilities for the event, including regular communication with the client.  While we currently have only one employee, our sole officer and Director, MaryAnne McAdams, in the event we obtain contracts and clients, and funding permitting, we plan to hire additional employees to serve as EP’s on a going forward basis. RX Scripted plans to offer a variety of event planning services, based on our customer’s individual program needs.   We did not generate any significant revenues during the past fiscal year and have generated nominal revenues to date.

Since the Company’s inception in 2004 until May 2006, the Company planned and executed over 50 medical meetings around the country.  In May 2006, the Company lost its largest client and as a result, revenues dropped sharply.  Subsequently in fiscal 2006, MaryAnne McAdams ceased performing services for the Company to go on personal leave, and in the interim, the Company ceased business operations.  In November 2007, Mrs. McAdams once again began performing services for the Company, and the Company is currently in the planning stage of its business development, with limited operations.  

Over the past few years, the medical meeting planning industry has seen many changes.  The biggest change in the industry is that pharmaceutical and other healthcare agencies are trying to remove themselves from the planning and execution process, in order to comply with new Pharmaceutical Research and Manufacturers of America (“PhRMA”) Guidelines, which were enacted in 2005.  We believe that this provides the Company with a unique opportunity to “fill the gap” between the pharmaceutical/educational companies and their need to continue to provide educational and promotional events.

In order to provide its future clients with a single source solution to their event planning needs, the Company plans to offer a wide range of services that encompass the event planning process including general management, concept creation, and execution. The Company believes that its creative talent, personal service, leadership and its willingness to commit capital to provide an increase in personnel, and to develop or acquire new clients will provide it with a competitive edge.

In July 2008, the Company entered into a verbal agreement with EM Corporation (“EM”), pursuant to which the Company will handle all aspects of EM’s travel planning.  The Company also anticipates handling meeting logistics for EM in the near future.  There are no assurances however that this business relationship will ever become a major revenue source for the Company.  Eddie Morgan, a principal of EM, is the father of MaryAnne McAdams, our sole officer and Director.  During the three months ended July 31, 2008, we generated $100 from EM, but have not generated any other revenues through the agreement with EM to date.
-21-

Industry and Market Overview

The Company believes that the events industry in the United States is highly fragmented with several local and regional vendors that provide a limited range of services in two main segments: 1) business communications and event management; and 2) meeting, conferences and trade shows. The industry also consists of specialized vendors such as production companies, meeting planning companies, and destination logistics companies that may offer their services outside of the events industry.
 
The market for pharmaceutical meeting planning services is robust.  According to a report published in April of 2007 by the Healthcare Exhibitors Association, attendance at healthcare meetings is up 13.8 percent since 2001.  We believe that given the recent changes in the regulatory climate in the healthcare industry, the majority of pharmaceutical companies are looking to outside vendors to manage the meetings function and keep them in compliance with regulations.
 
Principal Products and Services

Our current planned services (which are subject to change) may include:
 
 
·
venue prospecting and management,
 
·
contract negotiation,
 
·
menu planning,
 
·
audio/visual equipment rental arrangements,
 
·
car/limo arrangements for program speaker(s) or attendees (as appropriate),
 
·
travel/hotel accommodations (as appropriate),
 
·
attendee registration confirmation with name badges,
 
·
preparation of an event resume to outline all program details,
 
·
generation of an electronic flyer (e-flyer) to promote the event,
 
·
invoice reconciliation,
 
·
managing RSVP process (as requested):
 
·
coordination and delivery of relevant materials for program (as requested):
   
* communication with fulfillment house regarding specific materials to be delivered for program,
   
* coordination and delivery of educational “props” for each program, and
 
·
regular communication to assess and evaluate planning process and program execution.

Revenue Generation / Management Service Fees

For all events or programs the Meeting Planning and Management Fee will be based on completing all of the above listed activities (as requested) and the number of meeting participants as follows (which fees are subject to change):

 
<30 participants:
$35/person
 
31-74 participants:
$33/person
 
>75 participants:
$30/person

The Meeting Planning and Management Fee for client staff attendees at each program will be as follows (subject to change):

 
<5 Client attendees:
No Charge
 
>5 Client attendees:
$150 flat rate
 
For those meetings where the Company is not processing attendee registrations, there will be a meeting planning fee of 5% of the total meeting costs.
  
For meetings which are developed and accredited through the Company there is a fee of 15% of the total meeting costs.
-22-

We project that the Company will need an additional $100,000 of funding in order to complete its business plan, which amount includes approximately $50,000 which the Company will require for its ongoing operations for the next twelve months.  The Company also anticipates seeking to raise additional debt and/or equity financing to support its ongoing activities.

Intellectual Property

RX Scripted, Inc. owns the rights to the internet domain name, www.rxscripted.com; however, such website is not currently operational and the Company does not anticipate that such website will be operational until the Company can raise additional funds, if ever.  The Company does not own any patents or licenses related to its products or services nor any copyrights or trademarks.

Marketing and Growth Strategy

The major focus of our growth strategy over the next several years will be the development of new customers (pharmaceutical and medical educational companies) and partnerships (continuing education accreditation companies); design and enhancement of our website to enhance the ease of communication to our clients and their customers (meeting attendees), as well as the deployment of independent contractors to increase new business, funding permitting.

We have not entered into any preliminary negotiations or discussions with any new business acquisition targets, nor do we have any material definitive agreements in place with any such businesses.  However, if we have adequate funding at some time in the future, of which there can be no assurance, we may take steps to acquire new business targets to expand and increase our operations.  Any such acquisition would require raising substantial additional capital, of which there can be no assurance.

We also plan to fuel our growth through a broader, carefully designed growth strategy that includes utilizing the various contacts that we have within the pharmaceutical industry, as well as building new client relationships, expanding our target list (by utilizing independent contractors) and developing new marketing, advertising and public relations materials, of which there can be no assurance.

EMPLOYEES

As of the date of this Registration Statement, we have only one employee, MaryAnne McAdams, who is not paid any salary or accruing any salary.  Currently, Mrs. McAdams is the Company’s sole officer and Director. Mrs. McAdams has employment separate from the Company’s operations and therefore she is only able to spend a limited amount of time on the Company’s operations.  The Company does not have an employment agreement with Mrs. McAdams.

COMPETITION

Companies in the event planning industry compete based on service breadth and quality, creativity, responsiveness, geographic proximity to clients, and price. Most vendors of outsourced event services in the healthcare industry are large, international corporations which are unable to provide customized, personal service to their smaller clients. We will compete primarily with a large number of national and regional firms as well as specialized vendors such as production companies, meeting planning companies (such as Medpoint Communications and Cardinal Health Communications) and destination logistics companies. Most of these competitors and specialized vendors provide a much larger range of services relative to what we hope to be able to offer to clients in the future, funding permitting.  However, we view this as a competitive advantage.  We plan to specialize in working with smaller pharmaceutical and educational companies.  We believe that we will be able to provide them with a high level of customer service that the larger firms would be unwilling to provide, based on the client’s limited marketing and/or promotional budget.  The Company plans to offer a comprehensive solution to client organizations with the assurance of a high quality of service and the opportunity to form a long-term relationship.
-23-

DESCRIPTION OF PROPERTY

The Company’s sole officer and Director, MaryAnne McAdams currently supplies the Company the use of office space in her home free of charge.  The office space encompasses approximately 234 square feet.  Neither the Company nor Mrs. McAdams currently has any plans of seeking alternative arrangements for the Company’s office space and/or changing the terms of the Company’s use of such office space.

BLANK CHECK COMPANY ISSUES

Rule 419 of the Securities Act of 1933, as amended (the “Act”) governs offerings by “blank check companies.”  Rule 419 defines a “blank check company” as a development stage company that has no specific business plan or purpose or has indicated that its business plan is to engage in a merger or acquisition with an unidentified company or companies, or other entity or person; and issuing “penny stock,” as defined in Rule 3a51-1 under the Securities Exchange Act of 1934.

Our management believes that the Company does not meet the definition of a “blank check company,” because, while we are in the development stage, we do have a specific business plan and purpose as described above, and our current purpose is not to engage in a merger or acquisition, and as such, we should not therefore be characterized as a “blank check company.”
 
 
 
 
-24-

MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with our financial statements.

PLAN OF OPERATION FOR THE NEXT TWELVE MONTHS

We anticipate the need for approximately $50,000 in the next twelve (12) months to continue our business operations and begin our growth strategy, including building new client relationships, expanding our target list through independent contractors and developing new marketing, advertising and public relations materials.  Further, we anticipate the need for approximately another $50,000 to expand our operations and complete our business plan.  We have limited operations and revenues to date, and can make no assurances that material sales of our services will develop in the future, if at all.  Moving forward, we hope to build awareness of our website, www.rxscripted.com and in turn create demand for our products and services, of which there can be no assurance.

Critical Accounting Policies:

Our discussion and analysis of our financial condition and results of operations is based upon our audited financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of any contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including those related to uncollectible receivable, investment values, income taxes, the recapitalization and contingencies. We base our estimates on various assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
 
Revenue RecognitionRevenue from contracts for consulting services with fees based on time and materials or cost-plus are recognized as the services are performed and amounts are earned in accordance with the Securities Exchange Commission (the “SEC”) Staff Accounting Bulletin (“SAB”) No. 101, “Revenue Recognition in Financial Statements”, as amended by SAB No. 104 “Revenue Recognition”. We consider amounts to be earned once evidence of an arrangement has been obtained, services are delivered, fees are fixed or determinable, and collectability is reasonably assured. For contracts with fixed fees, we recognize revenues as amounts become billable in accordance with contract terms, provided the billable amounts are not contingent, are consistent with the services delivered, and are earned.

COMPARISON OF OPERATING RESULTS

FOR THE THREE MONTHS ENDED JULY 31, 2009, COMPARED TO THE THREE MONTHS ENDED JULY 31, 2008

We had no revenues for the three months ended July 31, 2009, compared to revenues of $100 for the three months ended July 31, 2008, a decrease in revenues of $100 from the prior period.   We expect to have nominal to no revenues until such time as we are able to establish a larger client base.

We had selling, general and administrative expenses of $12,363 for the three months ended July 31, 2009, compared to selling, general and administrative expenses of $8,967 for the three months ended July 31, 2008, an increase in selling, general and administrative expenses of $3,396 or 37.9% from the prior period.  The increase in selling, general and administrative expenses was mainly due to an increase in legal and accounting fees related to our periodic filings for the three months ended July 31, 2009, compared to the three months ended July 31, 2008, when we were not yet a reporting company.

We had other expenses, consisting solely of interest expense, for the three months ended July 31, 2009 of $964, compared to other expenses for the three months ended July 31, 2008 of $684, an increase in other expenses of $280 or 40.9% from the prior period. The increase in other expenses is due to additional interest expense incurred in connection with additional borrowings under the interest bearing line of credit during the year ended January 31, 2009 and the six months ended July 31, 2009. 
 
-25-

We had a net loss of $13,327 for the three months ended July 31, 2009, compared to a net loss of $9,551 for the three months ended July 31, 2008, an increase in net loss of $3,776 or 39.5% from the prior period. The increase in net loss was mainly attributable to the increase in selling, general and administrative expenses and the decrease in revenue for the three months ended July 31, 2009, compared to the three months ended July 31, 2008.

FOR THE SIX MONTHS ENDED JULY 31, 2009, COMPARED TO THE SIX MONTHS ENDED JULY 31, 2008

We had revenues of $250 for the six months ended July 31, 2009, compared to revenues of $100 for the six months ended July 31, 2008, an increase in revenues of $150 from the prior period, which increase was mainly due to a one-time event planned by us in Chicago, Illinois.   We expect to have nominal to no revenues until such time as we are able to establish a larger client base.

We had selling, general and administrative expenses of $19,844 for the six months ended July 31, 2009, compared to selling, general and administrative expenses of $18,536 for the six months ended July 31, 2008, an increase in selling, general and administrative expenses of $1,308 or 7.1% from the prior period.  The increase in selling, general and administrative expenses was mainly due to an increase in legal and accounting fees related to our periodic filings for the six months ended July 31, 2009, compared to the six months ended July 31, 2008, when we were not yet a reporting company.

We had other expenses, consisting solely of interest expense, for the six months ended July 31, 2009 of $1,729, compared to other expenses for the six months ended July 31, 2008 of $1,352, an increase in other expenses of $377 or 27.9% from the prior period. The increase in other expenses is due to additional interest expense incurred in connection with additional borrowings under the interest bearing line of credit during the year ended January 31, 2009 and six months ended July 31, 2009.
 
We had a net loss of $21,323 for the six months ended July 31, 2009, compared to a net loss of $19,788 for the six months ended July 31, 2008, an increase in net loss of $1,535 or 7.8% from the prior period. The increase in net loss was attributable to the increase in selling, general and administrative expenses and the increase in interest expense, offset by the increase in revenue for the six months ended July 31, 2009, compared to the six months ended July 31, 2008.

RESULTS OF OPERATIONS FOR THE YEAR ENDED JANUARY 31, 2009 COMPARED TO THE YEAR ENDED JANUARY 31, 2008

We had revenues of $100 for the year ended January 31, 2009, compared to revenues of $0 for the year ended January 31, 2008.  The $100 of revenues for the year ended January 31, 2009, were attributable to services performed for EM, as defined above.  We expect to have nominal to no revenues until such time as we are able to establish a larger client base.

We had selling, general and administrative expenses of $76,563 for the year ended January 31, 2009, compared to $12,854 for the year ended January 31, 2008, an increase of $63,709 or 496% from the prior period.  The increase in selling, general and administrative expenses was mainly due to increased legal and accounting expenses associated with our Private Placement Memorandum and Registration Statement, as well as certain expenses associated with our operations as a public company, which expenses were not present during the prior period.

We had net other expenses, consisting solely of interest expense, for the year ended January 31, 2009 of $2,723, compared to $897 for the year ended January 31, 2008, an increase of $1,826 or 204% from the prior period. The increase is due to us obtaining an interest bearing line of credit and convertible promissory note during the second half of the year ended January 31, 2008 and incurring interest expense in connection with these notes during the year ended January 31, 2009.

We had a net loss of $79,186 for the year ended January 31, 2009, compared to a net loss of $13,751 for the year ended January 31, 2008, an increase in net loss of $65,435 or 476% from the prior period. The increase was mainly attributable to the increase in selling, general and administrative expenses and the increase in interest expense for the year ended January 31, 2009, compared to the year ended January 31, 2008, as described above.
-26-

LIQUIDITY AND CAPITAL RESOURCES

We had total assets, consisting solely of current assets of $843 as of July 31, 2009, which consisted solely of cash and cash equivalents.

We had total liabilities consisting solely of current liabilities of $85,879 as of July 31, 2009, which included $6,220 of accounts payable and accrued expenses, $15,509 of accounts payable and accrued expenses-related party, $2,950 of advances from related parties and $61,200 of notes payable to related parties in connection with the notes described below.

We had negative working capital of $85,036 and a total accumulated deficit of $116,286 as of July 31, 2009.

We had net cash used in operating activities of $7,581 for the six months ended July 31, 2009, which was due to $21,323 of net loss, offset by $5,824 of increase in accounts payable and accrued expenses and $7,918 of increase in accounts payable and accrued expenses-related party.

We had $8,200 of net cash provided by financing activities for the six months ended July 31, 2009, which was solely due to $8,200 of proceeds of note payable, related party.

On December 12, 2007, we entered into a Revolving Credit Promissory Note with Kevin McAdams, the husband of our Chief Executive Officer, MaryAnne McAdams (the “Note”).  The Note provided us with a $25,000 line of credit.  The Note was subsequently amended by an Amended Revolving Credit Promissory Note entered into on or around March 18, 2009, which increased the amount available under the Note to $37,500.  A total of $25,500 had been borrowed pursuant to the Note as of January 31, 2009 and a total of $33,700 had been borrowed as July 31, 2009.  The Note has an interest rate of 4% per annum.  The note originally had a due date of December 31, 2008, which date has since been extended until October 31, 2009 pursuant to the amendment.

On March 11, 2008, with an effective date of September 18, 2007, we entered into a Convertible Promissory Note (the “Convertible Note”), with David M. Loev, our attorney and a significant shareholder of the Company.  The Convertible Note evidenced amounts owed to Mr. Loev pursuant to the engagement agreement entered into between us and Mr. Loev on September 18, 2007.  Pursuant to the engagement agreement, Mr. Loev received $5,000 upon the parties’ entry into the engagement agreement, and an aggregate of 1,500,000 shares of our common stock, which amount of cash and shares have been paid to date, and an additional $30,000 in the form of the Convertible Note.  The engagement agreement provided for Mr. Loev to perform various legal services on our behalf including the preparation of articles of incorporation, bylaws, organizational minutes, the Private Placement Memorandum and related documents, the Registration Statement to register the shares sold through the Private Placement Memorandum and amendments thereto, as well as various services in connection with responding to FINRA comments in connection with a 15c2-11 filing, as well as general corporate/securities matters requested by us.
 
The Convertible Note bears interest at the rate of seven percent (7%) per annum until paid in full and any past due amounts bear interest at the rate of fifteen percent (15%) per annum.  A total of $2,500 of the amount due under the $30,000 Convertible Note was due five days after the end of the Private Placement Memorandum offering, which amount has been paid to date, and the remaining amount of the Note was due on October 31, 2008. On November 19, 2008, we entered into an Amended and Restated Convertible Promissory Note with Mr. Loev that replaced and superseded the original Convertible Note.  The amended Convertible Note extended the date the note was due and payable to April 30, 2009.   In April 2009, we entered into a Second Amended and Restated Convertible Promissory Note with Mr. Loev that replaced and superseded the Amended and Restated Convertible Note.  The Second Amended and Restated Convertible Note extended the date the note is due and payable to October 31, 2009.  Other than the extension of the due date, the terms and conditions of the Second Amended and Restated Convertible Note are identical to the terms and conditions of the Convertible Note. If not paid by the maturity date, any accrued and unpaid principal then outstanding under the amended Convertible Note can be convertible into shares of our common stock at the rate of one share of common stock for each $0.10 owed under the Convertible Note.
-27-

From May 1, 2008 to July 15, 2008, we sold a total of 232,500 shares of common stock for an aggregate of $23,250, to certain investors through a Private Placement Memorandum offering.

We estimate the need for approximately $50,000 of additional funding during the next 12 months to continue our business operations and an additional $50,000 to expand our operations as planned.  If we are unable to raise adequate working capital for fiscal 2010, we will be restricted in the implementation of our business plan and may be required to cease operations.

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

On December 12, 2007, the Company entered into a Revolving Credit Promissory Note with Kevin McAdams, the husband of the Company’s Chief Executive Officer MaryAnne McAdams (the “Note”).  The Note provided us with a $25,000 line of credit.  The Note was subsequently amended by an Amended Revolving Credit Promissory Note entered into on or around March 18, 2009, which increased the amount available under the Note to $37,500.  A total of $25,500 had been borrowed pursuant to the Note as of January 31, 2009 and a total of $33,700 had been borrowed as July 31, 2009.  The Note has an interest rate of 4% per annum.  The note originally had a due date of December 31, 2008, which date has since been extended until October 31, 2009 pursuant to the amendment.

On March 11, 2008, with an effective date of September 18, 2007, the Company entered into a Convertible Promissory Note (the “Convertible Note”), with David M. Loev, the Company’s attorney and a significant shareholder and “control person” of the Company.  The Convertible Note evidenced amounts owed to Mr. Loev pursuant to the engagement agreement entered into between the Company and Mr. Loev on September 18, 2007.  Pursuant to the engagement agreement, Mr. Loev received $5,000 upon the parties’ entry into the engagement agreement, and an aggregate of 1,500,000 shares of the Company’s common stock, which amount of cash and shares have been paid to date, and an additional $30,000 in the form of the Convertible Note.  The engagement agreement provided for Mr. Loev to perform various legal services on the Company’s behalf including the preparation of articles of incorporation, bylaws, organizational minutes, the Private Placement Memorandum and related documents, a Registration Statement to register the shares sold through the Private Placement Memorandum and amendments thereto, and various services in connection with responding to NASD comments in connection with a proposed 15c2-11 filing, as well as corporate/securities matters requested by the Company.

The Convertible Note bears interest at the rate of seven percent (7%) per annum until paid in full and any past due amounts bear interest at the rate of fifteen percent (15%) per annum.  A total of $2,500 of the amount due under the $30,000 Convertible Note was due five days after the end of the Private Placement Memorandum offering, which amount has been paid to date, and the remaining amount of the Note was due on October 31, 2008. On November 19, 2008, the Company entered into an Amended and Restated Convertible Promissory Note with Mr. Loev that replaced and superseded the original Convertible Note.  The amended Convertible Note extended the date the note is due and payable to April 30, 2009.   In April 2009, the Company entered into a Second Amended and Restated Convertible Promissory Note with Mr. Loev that replaced and superseded the Amended and Restated Convertible Note.  The Second Amended and Restated Convertible Note extended the date the note is due and payable to October 31, 2009.  Other than the extension of the due date, the terms and conditions of the Second Amended and Restated Convertible Note are identical to the terms and conditions of the Convertible Note. If not paid by the maturity date, any accrued and unpaid principal then outstanding under the amended Convertible Note can be convertible into shares of the Company’s common stock at the rate of one share of common stock for each $0.10 owed under the Convertible Note.

In July 2008, the Company entered into a verbal agreement with EM Corporation (“EM”), pursuant to which the Company will handle all aspects of EM’s travel planning.  The Company also anticipates handling meeting logistics for EM in the near future.  There are no assurances however that this business relationship will ever become a major revenue source for the Company.  Eddie Morgan, a principal of EM, is the father of MaryAnne McAdams, our sole officer and Director.
-28-

Review, Approval and Ratification of Related Party Transactions

Given our small size and limited financial resources, we had not adopted formal policies and procedures for the review, approval or ratification of transactions, such as those described above, with our executive officers, Directors and significant stockholders.  However, all of the transactions described above were approved and ratified by our Board of Directors.  In connection with the approval of the transactions described above, the Board of Directors took into account several factors, including their fiduciary duties to the Company; the relationships of the related parties described above to the Company; the material facts underlying each transaction; the anticipated benefits to the Company and related costs associated with such benefits; whether comparable products or services were available; and the terms the Company could receive from an unrelated third party.

We intend to establish formal policies and procedures in the future, once we have sufficient resources and have appointed additional Directors, so that such transactions will be subject to the review, approval or ratification of our Board of Directors, or an appropriate committee thereof.   On a moving forward basis, the Board of Directors will continue to approve any related party transaction based on the criteria set forth above.

EXECUTIVE COMPENSATION

 Summary Compensation Table:

Name and principal position
(a)
Year  
Ended
January 31
(b)
Salary ($)
(c)
Bonus ($)
(d)
Stock Awards ($)
(e)
Option Awards ($)
(f)
Non-Equity Incentive Plan Compensation ($)
(g)
Nonqualified Deferred Compensation Earnings ($)
(h)
All Other Compensation* ($)
(i)
Total ($)(1)
(j)
MaryAnne McAdams
2009
-
-
-
-
-
-
-
-
CEO, President,
2008
-
-
-
-
-
-
-
-
Secretary, Treasurer
2007
-
-
-
-
-
-
$500(2)
$500
and Director
                 


* Does not include perquisites and other personal benefits in amounts less than 10% of the total annual salary and other compensation. Other than the individual listed above, we had no executive employees or Directors during the years listed above.

(1) No Executive Officer received any bonus, restricted stock awards, options, non-equity incentive plan compensation, nonqualified deferred compensation earnings or any other material compensation since the Company was incorporated, and no salaries are being accrued.

(2) Represents amounts paid by RX Scripted, LLC, which was subsequently converted into RX Scripted, Inc., as discussed herein.


COMPENSATION DISCUSSION AND ANALYSIS

Director Compensation

Our Board of Directors, currently consisting solely of MaryAnne McAdams, does not currently receive any consideration for her services as a Director of the Company.  The Board of Directors reserves the right in the future to award the members of the Board of Directors cash or stock based consideration for their services to the Company, which awards, if granted shall be in the sole determination of the Board of Directors.
-29-

Executive Compensation Philosophy

Our Board of Directors, consisting solely of Mrs. McAdams, determines the compensation given to our executive officer, Mrs. McAdams, in her sole determination. As our executive officer currently draws no compensation from us, we do not currently have any executive compensation program in place. Although we have not to date, our Board of Directors also reserves the right to pay our executives a salary, and/or to issue them shares of common stock in consideration for services rendered and/or to award incentive bonuses which are linked to our performance, as well as to the individual executive officer’s performance. This package may also include long-term stock based compensation to certain executives which is intended to align the performance of our executives with our long-term business strategies. Additionally, while our Board of Directors has not granted any performance base stock options to date, the Board of Directors reserves the right to grant such options in the future, if the Board in its sole determination believes such grants would be in the best interests of the Company.

Incentive Bonus

The Board of Directors may grant incentive bonuses to our executive officers in its sole discretion, if the Board of Directors believes such bonuses are in the Company’s best interest, after analyzing our current business objectives and growth, if any, and the amount of revenue we are able to generate each month, which revenue is a direct result of the actions and ability of such executives.

Long-term, Stock Based Compensation

In order to attract, retain and motivate executive talent necessary to support the Company’s long-term business strategy we may award certain executives with long-term, stock-based compensation in the future, in the sole discretion of our Board of Directors, which we do not currently have any immediate plans to award.


CORPORATE GOVERNANCE

The Company promotes accountability for adherence to honest and ethical conduct; endeavors to provide full, fair, accurate, timely and understandable disclosure in reports and documents that the Company files with the Securities and Exchange Commission (the “SEC”) and in other public communications made by the Company; and strives to be compliant with applicable governmental laws, rules and regulations. The Company has not formally adopted a written code of business conduct and ethics that governs the Company’s employees, officers and Directors as the Company is not required to do so.

In lieu of an Audit Committee, the Company’s Board of Directors is responsible for reviewing and making recommendations concerning the selection of outside auditors, reviewing the scope, results and effectiveness of the annual audit of the Company's financial statements and other services provided by the Company’s independent public accountants. The Board of Directors reviews the Company's internal accounting controls, practices and policies.

CONTROLS AND PROCEDURES

(a)           Evaluation of disclosure controls and procedures. Our Chief Executive Officer and Principal Financial Officer, after evaluating the effectiveness of our "disclosure controls and procedures" (as defined in the Securities Exchange Act of 1934 Rules 13a-15(e) and 15d-15(e)) as of the end of the quarter ending July 31, 2009 (the "Evaluation Date"), has concluded that as of the Evaluation Date, our disclosure controls and procedures were not effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. The disclosure controls were not effective as our independent auditor had to make adjustments to the audit of our financial statements for the year ended January 31, 2009.  Moving forward, we hope that our Chief Executive Officer and Principal Financial Officer will be able to devote the additional time and effort required so that our disclosure controls and procedures are once again effective.  Notwithstanding the assessment that our internal controls and procedures were not effective, we believe that our financial statements contained in our Annual Report on Form 10-K for the fiscal year ended January 31, 2009, our Quarterly Report for the quarter ended April 30, 2009, and our Quarterly Report for the quarter ended July 31, 2009, fairly present our financial position, results of operations and cash flows for the years and months covered thereby in all material respects.
-30-

(b)           Changes in internal control over financial reporting. There were no changes in our internal control over financial reporting during our most recent fiscal quarter that materially affected, or were reasonably likely to materially affect, our internal control over financial reporting.

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
ACCOUNTING AND FINANCIAL DISCLOSURE

None.

MARKET FOR REGISTRANT’S COMMON STOCK

In November 2008, we obtained quotation for our common stock on the Over-The-Counter Bulletin Board (“OTCBB”) under the symbol RXSS.OB; however, no shares of our common stock have traded to date and there is currently no public market for our common stock.  

The Company's common stock is considered a "penny stock" as defined in the Commission's rules promulgated under the Exchange Act. The Commission's rules regarding penny stocks impose additional sales practice requirements on broker-dealers who sell such securities to persons other than established customers and accredited investors (generally persons with net worth in excess of $1,000,000 or an annual income exceeding $200,000 or $300,000 jointly with their spouse). For transactions covered by the rules, the broker-dealer must make a special suitability determination for the purchaser and receive the purchaser's written agreement to the transaction prior to the sale. Thus the Rules affect the ability of broker-dealers to sell the Company's shares should they wish to do so because of the adverse effect that the Rules have upon liquidity of penny stocks. Unless the transaction is exempt under the Rules, under the Securities Enforcement Remedies and Penny Stock Reform Act of 1990, broker-dealers effecting customer transactions in penny stocks are required to provide their customers with (i) a risk disclosure document; (ii) disclosure of current bid and ask quotations if any; (iii) disclosure of the compensation of the broker-dealer and its sales personnel in the transaction; and (iv) monthly account statements showing the market value of each penny stock held in the customer's account. As a result of the penny stock rules, the market liquidity for the Company's securities may be severely adversely affected by limiting the ability of broker-dealers to sell the Company's securities and the ability of purchasers of the securities to resell them.

DESCRIPTION OF CAPITAL STOCK

We have authorized capital stock consisting of 100,000,000 shares of common stock, $0.001 par value per share (“Common Stock”) and 10,000,000 shares of preferred stock, $0.001 par value per share (“Preferred Stock”).

Common Stock

The holders of outstanding shares of Common Stock are entitled to receive dividends out of assets or funds legally available for the payment of dividends of such times and in such amounts as the board from time to time may determine.  Holders of Common Stock are entitled to one vote for each share held on all matters submitted to a vote of shareholders.  There is no cumulative voting of the election of Directors then standing for election.  The Common Stock is not entitled to pre-emptive rights and is not subject to conversion or redemption.  Upon liquidation, dissolution or winding up of our company, the assets legally available for distribution to stockholders are distributable ratably among the holders of the Common Stock after payment of liquidation preferences, if any, on any outstanding payment of other claims of creditors.  Each outstanding share of Common Stock is duly and validly issued, fully paid and non-assessable.
-31-

Preferred Stock

Shares of Preferred Stock may be issued from time to time in one or more series, each of which shall have such distinctive designation or title as shall be determined by our Board of Directors (“Board of Directors”) prior to the issuance of any shares thereof.  Preferred Stock shall have such voting powers, full or limited, or no voting powers, and such preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated in such resolution or resolutions providing for the issue of such class or series of Preferred Stock as may be adopted from time to time by the Board of Directors prior to the issuance of any shares thereof.  The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of all the then outstanding shares of our capital stock entitled to vote generally in the election of the Directors, voting together as a single class, without a separate vote of the holders of the Preferred Stock, or any series thereof, unless a vote of any such holders is required pursuant to any Preferred Stock Designation.

Options, Warrants and Convertible Securities

We have no options or warrants outstanding.  We do have a Convertible Promissory Note outstanding, which is held by our significant shareholder and attorney, David M. Loev, which Convertible Note is described in greater detail above under “Certain Relationships and Related Transactions.”

SHARES AVAILABLE FOR FUTURE SALE

Future sales of substantial amounts of our Common Stock could adversely affect market prices prevailing from time to time, and could impair our ability to raise capital through the sale of equity securities.

Upon the date of this Prospectus, there are 3,282,500 shares of common stock issued and outstanding. Upon the effectiveness of this Registration Statement, 232,500 shares of common stock to be resold pursuant to this Prospectus will be eligible for immediate resale in the public market if and when any market for the common stock develops.  The remaining 3,050,000 shares of our currently issued and outstanding common stock which are not being registered pursuant to this Registration Statement will constitute “restricted securities” as that term is defined by Rule 144 of the Act and bear appropriate legends, restricting transferability.  The Company may also raise capital in the future by issued issuing additional restricted shares to investors.

Restricted securities may not be sold except pursuant to an effective registration statement filed by us or an applicable exemption from registration, including an exemption under Rule 144 promulgated under the Act.

Pursuant to Rule 144 of the Securities Act of 1933, as amended (“Rule 144”), a “shell company” is defined as a company that has no or nominal operations; and, either no or nominal assets; assets consisting solely of cash and cash equivalents; or assets consisting of any amount of cash and cash equivalents and nominal other assets.  As we are a “shell company” pursuant to Rule 144, sales of our securities pursuant to Rule 144 are not able to be made until 1) we have ceased to be a “shell company; 2) we are subject to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, and have filed all of our required periodic reports for a period of one year; and a period of at least twelve months has elapsed from the date “Form 10 information” has been filed with the Commission reflecting the Company’s status as a non-“shell company.” 

Assuming we cease to be a “shell company” and at least a year has past since we filed “Form 10 information” with the Commission, and we have made all required filings for the past one (1) year, of which there can be no assurance, under Rule 144, in the event we remain a non-reporting company, a person (or persons whose shares are aggregated) who is not deemed to have been our affiliate at any time during the 90 days preceding a sale, and who owns shares within the definition of “restricted securities” under Rule 144 under the Securities Act that were purchased from us (or any affiliate) at least one year previously, would be entitled to sell such shares under Rule 144 without restrictions.  A person who may be deemed our affiliate, who owns shares that were purchased from us (or any affiliate) at least one year previously, is entitled to sell within any three-month period a number of shares that does not exceed 1% of the then outstanding Common Shares.  Sales by affiliates are also subject to certain manner of sale provisions, notice requirements and the availability of current public information about us.
-32-

If the Company should cease to be a “shell company” and should become a “reporting company,” as defined by the SEC, the conditions applicable to the resale of securities under Rule 144 are different.  If we become a reporting company, and are current in our filings for the previous one (1) year, a person (or persons whose shares are aggregated) who owns shares that were purchased from us (or any affiliate) at least six months previously, would be entitled to sell such shares without restrictions other than the availability of current public information about us.  A person who may be deemed our affiliate, who owns shares that were purchased from us (or any affiliate) at least six months previously would be entitled to sell his shares if he complies with the volume limitations, manner of sale provisions, public information requirements and notice requirements discussed above.  A person who is not deemed to have been our affiliate at any time during the 90 days preceding a sale, and who owns restricted securities that were purchased from us (or any affiliate) at least one year previously, would be entitled to sell such shares under Rule 144 without restrictions.

PLAN OF DISTRIBUTION AND SELLING STOCKHOLDERS

This Prospectus relates to the resale of 232,500 shares of common stock by the selling stockholders. The table below sets forth information with respect to the resale of shares of common stock by the selling stockholders. We will not receive any proceeds from the resale of common stock by the selling stockholders for shares currently outstanding. Except as described in footnotes below, none of the selling stockholders have had a material relationship with us since our inception.

Selling Stockholders

Shareholder
Date Shares Acquired
Common Stock Beneficially Owned Before Resale
Amount Offered (Assuming all shares immediately sold)
Shares Beneficially Owned After Resale (2)
         
         
Akard, John*
June 2008
2,000
2,000
--
Atkinson, D. Ross & Carol Jo*
June 2008
5,000
5,000
--
Babajanov, Dan*
June 2008
5,000
5,000
--
Birmingham, Carey*
May 2008
5,000
5,000
--
Brousseau, Robert*
June 2008
5,000
5,000
--
Butler, Charlie*
June 2008
5,000
5,000
--
Cvijanovich, Mike*
June 2008
5,000
5,000
--
Frank, John*
June 2008
5,000
5,000
--
Granzyk, Steve*
June 2008
5,000
5,000
--
Heck, Thomas*
June 2008
5,000
5,000
--
Hedayati, Pejman*
June 2008
10,000
10,000
--
Hedavati, Poya*
June 2008
10,000
10,000
--
High, Trae*
June 2008
5,000
5,000
--
Inestroza, Gregory*
June 2008
30,000
30,000
--
Jacobs, Lawrence*
June 2008
5,000
5,000
--
Loev, Jennifer*(1)
June 2008
5,000
5,000
--
McAdams, James*(2)
June 2008
5,000
5,000
--
McAdams, Joe*(3)
May 2008
5,000
5,000
--
McAdams, Marcia*(4)
June 2008
3,000
3,000
--
Monroe, Manuela*
May 2008
5,000
5,000
--
Morgan, Patricia*(5)
June 2008
5,000
5,000
--
Moscato, Christopher*
June 2008
10,000
10,000
--
Moscato, Robert*
June 2008
10,000
10,000
--
Neal, Steven
June 2008
2,000
2,000
--
O’Brien, James*
June 2008
5,000
5,000
--
Pettengill, Michele*
June 2008
3,000
3,000
--
Race, Damon*
June 2008
5,000
5,000
--
Schwartz, Bill*
May 2008
5,000
5,000
--
Smith, Ernest*
May 2008
20,000
20,000
--
Smith, Geraldine*
June 2008
7,500
7,500
--
Stone, Selma*
May 2008
5,000
5,000
--
Tudor, Derek and Sue*
June 2008
10,000
10,000
--
Weiss, Steven*
June 2008
10,000
10,000
--
Yount, Harold, Jr.*
June 2008
5,000
5,000
--
         
 
TOTALS
232,500
232,500
 

-33-

* Purchased shares of common stock at $0.10 per share.

(1) The sister of our counsel, David M. Loev, who is the manager of The Loev Law Firm, PC and beneficial owner of 1,500,000 shares of our common stock.

(2) The uncle of Kevin McAdams, the husband of our sole officer and Director, MaryAnne McAdams.

(3) The father of Kevin McAdams, the husband of our sole officer and Director, MaryAnne McAdams.

(4) The mother of Kevin McAdams, the husband of our sole officer and Director, MaryAnne McAdams.

(5) The mother of our sole officer and Director, MaryAnne McAdams.

Upon the effectiveness of this Registration Statement, the 3,050,000 outstanding shares of common stock not registered herein, will be subject to the resale provisions of Rule 144, if available. The 232,500 remaining shares offered by the selling stockholders pursuant to this Prospectus may be sold by one or more of the following methods, without limitation:

o
ordinary brokerage transactions and transactions in which the broker-dealer solicits the purchaser;
   
o
block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;
   
o
purchases by a broker-dealer as principal and resale by the broker-dealer for its account;
   
o
an exchange distribution in accordance with the rules of the applicable exchange;
   
o
privately-negotiated transactions;
   
o
broker-dealers may agree with the Selling Security Holders to sell a specified number of such shares at a stipulated price per share;
   
o
a combination of any such methods of sale; and
   
o
any other method permitted pursuant to applicable law.

The Selling Security Holders may also sell shares under Rule 144 under the Securities Act, if available, rather than under this Prospectus.
 
-34-

The Selling Security Holders may pledge their shares to their brokers under the margin provisions of customer agreements. If a Selling Security Holder defaults on a margin loan, the broker may, from time to time, offer and sell the pledged shares.

We have advised the Selling Security Holders that the anti-manipulation provisions of Regulation M under the Securities Exchange Act of 1934, as amended, will apply to purchases and sales of shares of Common Stock by the Selling Security Holders. Additionally, there are restrictions on market-making activities by persons engaged in the distribution of the shares. The Selling Security Holders have agreed that neither them nor their agents will bid for, purchase, or attempt to induce any person to bid for or purchase, shares of our Common Stock while they are distributing shares covered by this prospectus.

Accordingly, the Selling Security Holders are not permitted to cover short sales by purchasing shares while the distribution is taking place. We will advise the Selling Security Holders that if a particular offer of Common Stock is to be made on terms materially different from the information set forth in this Plan of Distribution, then a post-effective amendment to the accompanying Registration Statement must be filed with the Securities and Exchange Commission.

Broker-dealers engaged by the Selling Security Holders may arrange for other broker-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the Selling Security Holders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated. It is not expected that these commissions and discounts will exceed what is customary in the types of transactions involved.

The Selling Security Holders may be deemed to be an "underwriter" within the meaning of the Securities Act in connection with such sales. Therefore, any commissions received by such broker-dealers or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act.
 
ADDITIONAL INFORMATION

Our fiscal year ends on January 31. We plan to furnish our shareholders annual reports containing audited financial statements and other appropriate reports, where applicable. In addition, we intend to become a reporting company and file annual, quarterly, and current reports, and other information with the SEC, where applicable. You may read and copy any reports, statements, or other information we file at the SEC's public reference room at 100 F. Street, N.E., Washington D.C. 20549. You can request copies of these documents, upon payment of a duplicating fee by writing to the SEC. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference rooms. Our SEC filings are also available to the public on the SEC's Internet site at http\\www.sec.gov.
 
LEGAL MATTERS

Certain legal matters with respect to the issuance of shares of common stock offered hereby will be passed upon by The Loev Law Firm, PC, Bellaire, Texas.  David M. Loev, the manager of The Loev Law Firm, PC, beneficially owns 1,500,000 shares of the Company’s common stock (the “Loev Securities”) and the Convertible Promissory Note described above.  Mr. Loev is considered a “control person” of the Company, as described above.  Other than the Loev Securities and the Convertible Note, neither Mr. Loev nor The Loev Law Firm, PC holds any other interest in the Company.
-35-

FINANCIAL STATEMENTS

The Financial Statements required by Item 310 of Regulation S-B are stated in U.S. dollars and are prepared in accordance with U.S. Generally Accepted Accounting Principles. The following financial statements pertaining to RX Scripted, Inc. are filed as part of this Prospectus.



 
 
 
 
 
 

 
-36-


Table of Contents to Financial Statements


Unaudited Financial Statements:
Page
 
 
Balance Sheets as of July 31, 2009 and January 31, 2009
F-2
 
Statements of Operations for the For the three and six months ended July 31, 2009, and 2008, and December 30, 2004 (Inception) to July 31, 2009
F-3
 
Statements of Cash Flows For the Six Months Ended July 31, 2009 and 2008 and for the period December 30, 2004 (Inception) through July 31, 2009
F-4
 
N Notes to Financial Statements
F-5

Audited Financial Statements
 
 
Report of Independent Registered Accounting Firm
F-7
 
Balance Sheets as of January 31, 2009 and 2008
F-8
 
Statements of Operations for the years ended January 31, 2009 and 2008 and the period from December 30, 2004 (inception) to January 31, 2009
F-9
 
Statements of Stockholders’ Deficit for the period from December 30, 2004 (inception) to January 31, 2009
F-10
 
Statements of Cash Flows for the years ended January 31, 2009 and 2008 and the period from December 30, 2004 (inception) to January 31, 2009
F-11
 
Notes to Financial Statements
F-12





F-1

RX Scripted, Inc.
 
(A Development Stage Company)
 
Balance Sheets
 
(Unaudited)
 
             
   
July 31, 2009
   
January 31, 2009
 
             
ASSETS
           
             
CURRENT ASSETS
           
Cash and cash equivalents
 
$
843
   
$
224
 
                 
          TOTAL ASSETS
 
$
843
   
$
224
 
                 
                 
LIABILITIES AND STOCKHOLDERS' DEFICIT
               
                 
CURRENT LIABILITIES
               
Accounts payable and accrued expenses
 
$
6,220
   
$
396
 
Accounts payable and accrued liabilities - related party
   
15,509
     
7,591
 
Advances from related parties
   
2,950
     
2,950
 
Notes payable - related parties
   
61,200
     
53,000
 
                 
        TOTAL LIABILITIES
   
85,879
     
63,937
 
                 
STOCKHOLDERS' DEFICIT
               
Preferred stock, $0.001 par value: 10,000,000 authorized, none outstanding
   
-
     
-
 
Common stock, $0.001 par value, 100,000,000 authorized, 3,282,500 and 3,282,500 issued and outstanding, respectively
   
3,283
     
3,283
 
Additional paid-in capital
   
27,967
     
27,967
 
Deficit accumulated during development stage
   
(116,286
)
   
(94,963
)
                 
TOTAL STOCKHOLDERS' DEFICIT
   
(85,036
)
   
(63,713
)
                 
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT
 
$
843
   
$
224
 
 
See notes to financial statements.
 
F-2


RX Scripted, Inc.
 
(A Development Stage Company)
 
Statements of Operations
 
For the Three and Six Months Ended July 31, 2009, and 2008,
 
and December 30, 2004 (Inception) to July 31, 2009
 
(Unaudited)
 
   
   
Three Months Ended July 31,
   
Six Months Ended July 31,
   
Inception to July 31,
 
   
2009
   
2008
   
2009
   
2008
   
2009
 
REVENUES
                             
  Services
 
$
-
   
$
100
   
$
250
   
$
100
   
$
29,867
 
                                         
EXPENSES
                                       
  Selling, general and administrative
   
12,363
     
8,967
     
19,844
     
18,536
     
140,674
 
     
12,363
     
8,967
     
19,844
     
18,536
     
140,674
 
                                         
LOSS FROM OPERATIONS
   
(12,363
)
   
(8,867
)
   
(19,594
)
   
(18,436
)
   
(110,807
)
                                         
                                         
OTHER EXPENSES
                                       
  Interest expense
   
964
     
684
     
1,729
     
1,352
     
5,479
 
                                         
NET LOSS
 
$
(13,327
)
 
$
(9,551
)
 
$
(21,323
)
 
$
(19,788
)
 
$
(116,286
)
                                         
NET LOSS PER SHARE – Basic and diluted
 
$
(0.00
)
 
$
(0.00
)
 
$
(0.01
)
 
$
(0.01
)
       
                                         
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES – Basic and diluted
   
3,282,500
     
3,130,880
     
3,282,500
     
3,066,159
         

See notes to financial statements.
 
F-3


RX Scripted, Inc.
 
(A Development Stage Company)
 
Statements of Cash Flows
 
For the Six Months Ended July 31, 2009 and 2008
 
and For the Period December 30, 2004 (Inception) through July 31, 2009
 
(Unaudited)
 
                   
   
Six Months Ended July 31,
   
Inception through July 31,
 
   
2009
   
2008
   
2009
 
CASH FLOWS FROM OPERATING ACTIVITIES
                 
  Net loss
 
$
(21,323
)
 
$
(19,788
)
 
$
(116,286
)
  Adjustments to reconcile net loss to net
                       
      cash from operating activities:
                       
      Share-based compensation
   
-
     
-
     
7,000
 
      Changes in operating assets and liabilities:
                       
Prepaid and other assets
   
-
     
6,111
     
30,000
 
Accounts payable and accrued expenses
   
5,824
     
5,169
     
7,117
 
Accounts payable and accrued expenses – related party
   
7,918
     
-
     
14,612
 
NET CASH USED IN OPERATING ACTIVITIES
   
(7,581
)
   
(8,508
)
   
(57,557
)
                         
CASH FLOWS FROM FINANCING ACTIVITIES
                       
  Proceeds from sale of member units
   
-
     
-
     
1,000
 
  Proceeds from sale of common stock
   
-
     
23,250
     
23,250
 
  Proceeds of shareholder loans
   
-
     
500
     
2,950
 
  Proceeds of notes payable – related parties
   
8,200
     
-
     
33,700
 
  Repayments of note payable - related parties
   
-
     
(2,500
)
   
(2,500
)
NET CASH PROVIDED BY FINANCING ACTIVITIES
   
8,200
     
21,250
     
58,400
 
                         
NET INCREASE  IN CASH
   
619
     
12,742
     
843
 
CASH AT BEGINNING OF PERIOD
   
224
     
1,959
     
-
 
CASH AT END OF PERIOD
 
$
843
   
$
14,701
   
$
843
 
                         
SUPPLEMENTAL DISCLOSURES
                       
CASH PAID FOR:
                       
    Interest
 
$
-
   
$
-
   
$
-
 
    Income Taxes
   
-
     
-
     
-
 
                         
NONCASH INVESTING AND FINANCING ACTIVITIES:
                       
Recapitalization
 
$
-
   
$
-
   
$
1,000
 
Issuance of note payable to related party for prepaid legal fees
   
-
     
-
     
30,000
 
 
See notes to financial statements.
F-4


RX Scripted, Inc.
(A Development Stage Company)

Notes to Financial Statements
(Unaudited)


1.
Organization and Significant Accounting Policies

Organization – RX Scripted, LLC (“RX Scripted”) was formed on December 30, 2004 as a North Carolina limited liability company and converted to a Delaware C Corporation as RX Scripted, Inc. on December 5, 2007.  The Company is an event planning consulting company which plans and executes medical meetings and educational programs for nurses, physicians, pharmacists and other health care professionals.  RX Scripted offers a variety of event planning services based on its customers’ individual program needs.

Basis of Presentation – The accompanying unaudited interim financial statements of RX Scripted, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission and should be read in conjunction with the audited financial statements and notes thereto contained in RX Scripted’s Annual Financial Statements filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein.

Reclassifications – Certain prior year amounts have been reclassified to conform with the current year presentation.

Use of Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. The actual results could differ from those estimates.

2.  Going Concern

RX Scripted’s financial statements are prepared using United States generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business.  RX Scripted has incurred cumulative operating losses through July 31, 2009 of $116,286 and has a working capital deficit at July 31, 2009 of $85,036.

Revenues have not been sufficient to cover its operating costs and to allow it to continue as a going concern.  The potential proceeds from the sale of common stock and other contemplated debt and equity financing, and increases in operating revenues from new development and business acquisitions would enable RX Scripted to continue as a going concern.  There can be no assurance that RX Scripted can or will be able to complete any debt or equity financing.  RX Scripted’s financial statements do not include any adjustments that might result from the outcome of this uncertainty.

3.  Notes Payable – Related Parties

RX Scripted’s short-term debt of $61,200 at July 31, 2009, consisted of $33,700 from a relative of the sole director bearing interest at 4% per annum and with a maturity date of October 31, 2009, and a convertible promissory note of $27,500, bearing interest at 7% per annum.  Balances on these notes at January 31, 2009, were $25,500 and $27,500, respectively.


F-5

On December 12, 2007, RX Scripted entered into a Revolving Credit Promissory Note with Kevin McAdams, the husband of RX Scripted’s Chief Executive Officer.  The note provided a $25,000 line of credit.  The note was subsequently amended on March 18, 2009 to increase the amount available under the note to $37,500.  A total of $33,700 had been borrowed pursuant to the note as of July 31, 2009.  The note has an interest rate of 4% per annum.  The note originally had a due date of December 31, 2008, which date has since been extended until October 31, 2009 pursuant to the amendment.

The Convertible Note bears interest at the rate of seven percent (7%) per annum until paid in full and any past due amounts bear interest at the rate of fifteen percent (15%) per annum.  A total of $2,500 of the amount due under the $30,000 Convertible Note was due five days after the end of the Private Placement Memorandum offering, which amount has been paid to date, and the remaining amount of the Note was due on October 31, 2008. On November 19, 2008, Rx Scripted entered into an Amended and Restated Convertible Promissory Note with Mr. Loev that replaced and superseded the original Convertible Note.  The amended Convertible Note extended the due date to April 30, 2009.  On April 28, 2009, RX Scripted entered into a Second Amended and Restated Convertible Promissory Note which further extended the due date to October 31, 2009.  Other than the extensions of the due dates, the terms and conditions of the both amended Convertible Notes are identical to the terms and conditions of the Convertible Note. If not paid by the maturity date, any accrued and unpaid principal then outstanding under the Second Amended Convertible Note can be convertible into shares of RX Scripted’s common stock at the rate of one share of common stock for each $0.10 owed under the Convertible Note.
 
RX Scripted’s advances of $2,950 from a shareholder do not bear interest.

4Equity

In May 2008, RX Scripted offered through a private placement, 500,000 common shares at $0.10 per share on a “best efforts, no minimum basis”. The Offering was made in reliance upon an exemption from registration under the federal securities laws provided by Rule 506 of Regulation D of the Securities Act of 1933, as amended. The Offering was to terminate upon the earlier of (i) the sale of the 500,000 Shares or (ii) May 31, 2008, unless extended by RX Scripted for up to an additional thirty days. The Company extended the offering to June 30, 2008. As of October 31, 2008, RX Scripted issued 232,500 shares and raised $23,250 from 34 investors.
 
F-6

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors
RX Scripted, Inc.
(A Development Stage Company)
Holly Springs, North Carolina


We have audited the accompanying balance sheets of RX Scripted, Inc. as of January 31, 2009 and 2008 and the related statements of operations, stockholders’ deficit and cash flows for the years ended January 31, 2009 and 2008 and the period from December 30, 2004 (inception) to January 31, 2009.  These financial statements are the responsibility of RX Scripted’s management.  Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement.  The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.  Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting.  Accordingly, we express no such opinion.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of RX Scripted, Inc. as of January 31, 2009 and 2008 and the results of its operations and its cash flows for the years ended January 31, 2009 and 2008 and the period from December 30, 2004 (inception) to January 31, 2009 in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that RX Scripted, Inc. will continue as a going concern.  As discussed in Note 2 to the financial statements, RX Scripted, Inc. has incurred cumulative losses and has a working capital deficit which raises substantial doubt about its ability to continue as a going concern.  Management’s plans regarding those matters also are described in Note 2.  The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.



/s/ GBH CPAs, PC
GBH CPAs, PC
www.gbhcpas.com
Houston, Texas

May 8, 2009
F-7


RX Scripted, Inc.
 
(A Development Stage Company)
 
Balance Sheets
 
   
             
   
January 31,
2009
   
January 31,
 2008
 
             
ASSETS
           
             
CURRENT ASSETS
           
Cash and cash equivalents
 
$
224
   
$
1,959
 
Prepaid and other assets
   
-
     
33,611
 
                 
          TOTAL ASSETS
 
$
224
   
$
35,570
 
                 
                 
LIABILITIES AND STOCKHOLDERS' DEFICIT
               
                 
CURRENT LIABILITIES
               
Accounts payable and accrued expenses
 
$
396
   
$
-
 
Accounts payable and accrued expenses - related party
   
7,591
     
897
 
Advances from related parties
   
2,950
     
2,950
 
Note payable - related party
   
53,000
     
44,500
 
                 
        TOTAL LIABILITIES
   
63,937
     
48,347
 
                 
STOCKHOLDERS' DEFICIT
               
Preferred stock, $0.001 par value: 10,000,000 authorized, none outstanding
   
-
     
-
 
Common stock, $0.001 par value, 100,000,000 authorized, 3,282,500 and 3,000,000 issued and outstanding, respectively
   
3,283
     
3,000
 
Additional paid-in capital
   
27,967
     
-
 
Deficit accumulated during development stage
   
(94,963
)
   
(15,777
)
                 
TOTAL STOCKHOLDERS' DEFICIT
   
(63,713
)
   
(12,777
)
                 
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT
 
$
224
   
$
35,570
 
 
See notes to financial statements.
F-8


RX Scripted, Inc.
 
(A Development Stage Company)
 
Statements of Operations
 
For the Years Ended January 31, 2009 and 2008,
 
and For the Period From December 30, 2004 (Inception) to January 31, 2009
 
   
                   
   
Years Ended January 31,
   
Inception to January 31,
 
   
2009
   
2008
   
2009
 
REVENUES
                 
  Services
 
$
100
   
$
-
   
$
29,617
 
                         
EXPENSES
                       
      Selling, general and administrative
   
76,563
     
12,854
     
120,830
 
                         
LOSS FROM OPERATIONS
   
(76,463
)
   
(12,854
)
   
(91,213
)
                         
                         
OTHER EXPENSES
                       
  Interest expense
   
2,723
     
897
     
3,750
 
                         
NET LOSS
 
$
(79,186
)
 
$
(13,751
)
 
$
(94,963
)
                         
NET LOSS PER SHARE – Basic and diluted
 
$
(0.03
)
 
$
(0.01
)
       
                         
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES – Basic and diluted
   
3,149,784
     
1,969,851
         
 
See notes to financial statements.
 
F-9


RX Scripted, Inc.
 (A Development Stage Company)
Statements of Stockholders’ Deficit
For the Period From December 30, 2004 (Inception) Through January 31, 2009


   
Member’s
   
Common Stock
   
Additional Paid-in
   
Accumulated
       
   
Equity
   
Shares
   
Amount
   
Capital
   
Deficit
   
Total
 
                                     
Member contribution
 
$
500
                           
$
500
 
Net loss
   
(110
)
                           
(110
)
Balance at January 31, 2005
   
390
     
   
$
   
$
   
$
     
390
 
                                                 
Member contribution
   
500
                                     
500
 
Net loss
   
(16
)
                                   
(16
)
Balance at January 31, 2006
   
874
     
     
     
     
     
874
 
                                                 
Net loss
   
(1,900
)
                                   
(1,900
)
Balance at January 31, 2007
   
(1,026
)
   
     
     
     
     
(1,026
)
                                                 
Recapitalization
   
1,026
     
1,500,000
     
1,500
             
(2,026
)
   
500
 
Shares issued for services
           
1,500,000
     
1,500
                     
1,500
 
Net loss
                                   
(13,751
)
   
(13,751
)
Balance at January 31, 2008
   
     
3,000,000
     
3,000
     
     
(15,777
)
   
(12,777
)
                                                 
Shares issued for services
           
50,000
     
50
     
4,950
             
5,000
 
Shares issued for cash
           
232,500
     
233
     
23,017
             
23,250
 
Net loss
                                   
(79,186
)
   
(79,186
)
Balance at January 31, 2009
 
     
3,282,500
   
$
3,283
   
$
27,967
   
$
(94,963
)
 
$
(63,713
)
                                                 
 
See notes to financial statements.
 
F-10


RX Scripted, Inc.
 
(A Development Stage Company)
 
Statements of Cash Flows
 
For the Years Ended January 31, 2009 and 2008
 
and For the Period From December 30, 2004 (Inception) through January 31, 2009
 
   
                   
   
Years Ended January 31,
   
Inception through January 31,
 
   
2009
   
2008
   
2009
 
CASH FLOWS FROM OPERATING ACTIVITIES
                 
  Net loss
 
$
(79,186
)
 
$
(13,751
)
 
$
(94,963
)
  Adjustments to reconcile net loss to net
                       
      cash from operating activities:
                       
      Share-based compensation
   
5,000
     
2,000
     
7,000
 
      Changes in operating assets and liabilities:
                       
Prepaid and other assets
   
33,611
     
(3,611
)
   
30,000
 
Accounts payable and accrued expenses
   
396
     
(1,405
)
   
1,293
 
Accounts payable and accrued expenses – related party
   
6,694
     
-
     
6,694
 
NET CASH USED IN OPERATING ACTIVITIES
   
(33,485
)
   
(16,767
)
   
(49,976
)
                         
CASH FLOWS FROM FINANCING ACTIVITIES
                       
  Proceeds from sale of member units
   
-
     
-
     
1,000
 
  Proceeds from sale of common stock
   
23,250
     
-
     
23,250
 
  Proceeds of shareholder loans
   
-
     
2,950
     
2,950
 
  Proceeds of notes payable – related parties
   
11,000
     
14,500
     
25,500
 
  Payments of notes payable – related parties
   
(2,500
)
   
-
     
(2,500
)
NET CASH PROVIDED BY FINANCING ACTIVITIES
   
31,750
     
17,450
     
50,200
 
                         
NET INCREASE (DECREASE) IN CASH
   
(1,735
)
   
683
     
224
 
CASH AT BEGINNING OF PERIOD
   
1,959
     
1,276
     
-
 
CASH AT END OF PERIOD
 
$
224
   
$
1,959
   
$
224
 
                         
SUPPLEMENTAL DISCLOSURES
                       
CASH PAID FOR:
                       
    Interest
 
$
-
   
$
-
   
$
-
 
    Income taxes
   
-
     
-
     
-
 
                         
NONCASH INVESTING AND FINANCING ACTIVITIES:
                       
Recapitalization
 
$
-
   
$
-
   
$
1,000
 
Issuance of note payable to related party for prepaid legal fees
   
-
     
-
     
30,000
 
 
See notes to financial statements.
F-11

RX Scripted, Inc.
(A Development Stage Company)
Notes to Financial Statements
  
1.
Organization and Significant Accounting Policies

Organization – RX Scripted, LLC  was formed on December 30, 2004 as a North Carolina limited liability company and converted to a Delaware C Corporation as RX Scripted, Inc. (the “Company” or “RX Scripted”)on December 5, 2007.  The Company is an event planning consulting company which plans and executes medical meetings and educational programs for nurses, physicians, pharmacists and other health care professionals.  RX Scripted offers a variety of event planning services based on its customers’ individual program needs.

Basis of Presentation – The accompanying financial statements of RX Scripted have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein.

Accounting Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. The actual results could differ from those estimates.

Cash and Cash Equivalents – The Company considers all highly liquid investments with original maturities of three months or less from time of purchase to be cash equivalents.
 
Income Taxes – Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized when items of income and expense are recognized in the financial statements in different periods than when recognized in the tax return. Deferred tax assets arise when expenses are recognized in the financial statements before the tax returns or when income items are recognized in the tax return prior to the financial statements. Deferred tax assets also arise when operating losses or tax credits are available to offset tax payments due in future years. Deferred tax liabilities arise when income items are recognized in the financial statements before the tax returns or when expenses are recognized in the tax return prior to the financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
 
Fair Value of Financial Instruments – The following methods and assumptions were used to estimate the fair values for each class of financial instruments. The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between two willing parties. The carrying amounts of cash, cash equivalents, accounts receivable, accounts payable approximate fair value due to the short-term nature or maturity of the instruments
 
Earnings Per Share – Basic Earnings per share equals net earnings divided be weighted average shares outstanding during the year.  Diluted earnings per share include the impact on dilution from all contingently issuable shares, including options, warrants and convertible securities. As of January 31, 2009 RX Scripted did not have any outstanding contingently issuable shares.

Revenue RecognitionRevenue from contracts for consulting services with fees based on time and materials or cost-plus are recognized as the services are performed and amounts are earned in accordance with the Securities Exchange Commission (the “SEC”) Staff Accounting Bulletin (“SAB”) No. 101, “Revenue Recognition in Financial Statements”, as amended by SAB No. 104 “Revenue Recognition”. The Company considers amounts to be earned once evidence of an arrangement has been obtained, services are delivered, fees are fixed or determinable, and collectability is reasonably assured. For contracts with fixed fees, the Company recognizes revenues as amounts become billable in accordance with contract terms, provided the billable amounts are not contingent, are consistent with the services delivered, and are earned.
 
F-12


2.  Going Concern

RX Scripted’s financial statements are prepared using United States generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business.  RX Scripted has incurred cumulative operating losses through January 31, 2009 of $94,963 and has a working capital deficit at January 31, 2009 of $63,713.

Revenues have not been sufficient to cover its operating costs and to allow it to continue as a going concern.  The potential proceeds from the sale of common stock and other contemplated debt and equity financing, and increases in operating revenues from new development and business acquisitions would enable RX Scripted to continue as a going concern.  There can be no assurance that RX Scripted can or will be able to complete any debt or equity financing.  RX Scripted’s financial statements do not include any adjustments that might result from the outcome of this uncertainty.

3.  Notes Payable – Related Parties

RX Scripted’s short-term debt of $53,000 at January 31, 2009, consisted of $25,500 drawn on a revolving line of credit from a relative of the sole director bearing interest at 4% per annum and with a maturity date of October 31, 2009, and a convertible promissory note of $27,500, bearing interest at 7% per annum.  Balances on these notes at January 31, 2008, were $14,500 and $30,000, respectively.

On December 12, 2007, RX Scripted entered into a Revolving Credit Promissory Note with Kevin McAdams, the husband of RX Scripted’s Chief Executive Officer.  The note provided us with a $25,000 line of credit.  The Note was subsequently amended on March 18, 2009 to increase the amount available under the note to $37,500.  A total of $25,500 had been borrowed pursuant to the Note as of January 31, 2009.  The Note has an interest rate of 4% per annum.  The note originally had a due date of December 31, 2008, which date has since been extended until October 31, 2009 pursuant to the amendment.

The convertible promissory note bears interest at the rate of 7% per annum until paid in full and any past due amounts bear interest at the rate of 15% per annum.  A total of $2,500 of the amount due under the $30,000 convertible note was due five days after the end of the Private Placement Memorandum offering, which amount has been paid to date, and the remaining amount of the note was due on October 31, 2008.  On November 19, 2008, RX Scripted amended the convertible note with Mr. Loev to extend the maturity date to April 30, 2009.  No other terms and conditions were changed.  If not paid by the maturity date, any accrued and unpaid principal then outstanding under the amended convertible note can be convertible into shares of RX Scripted’s common stock at the rate of one share of common stock for each $0.10 owed under the convertible note.

RX Scripted’s advances from a shareholder of $2,950 do not bear interest.

4Stockholders’ Equity

In August 2008, RX Scripted entered into an agreement with a transfer agent to maintain the stock ownership and transfer records.  Terms of the agreement require a cash payment of $5,000 and 50,000 shares of common stock, which shares were issued in December 2008.

In May 2008, RX Scripted offered through a Confidential Private Placement, 500,000 common shares at $0.10 per Share on a “best efforts, no minimum basis”. The Offering was made in reliance upon an exemption from registration under the federal securities laws provided by Rule 506 of Regulation D of the Securities Act of 1933, as amended. The Offering was to terminate upon the earlier of (i) the sale of the 500,000 Shares or (ii) May 31, 2008, unless extended by RX Scripted for up to an additional thirty days. The Company extended the offering to June 30, 2008. As of October 31, 2008, RX Scripted issued 232,500 shares and raised $23,250 from 34 investors.
F-13


5.   INCOME TAXES
 
RX Scripted has incurred losses since inception.  Therefore, RX Scripted has no tax liability.  Additionally, there are limitations imposed by certain transactions which are deemed to be ownership changes.  The net deferred tax asset generated by the loss carryforward has been fully reserved.  The cumulative net operating loss carryforward is about $95,000 at January 31, 2009 and will expire in fiscal years 2025 through 2029.  At January 31, 2009, the deferred tax asset consisted of the following:

D     Deferred Tax Asset:
     
    Net Operating Loss
 
$
32,300
 
                  Less Valuation Allowance
   
(32,300
)
         Net Deferred Tax Asset
 
$
-
 

6.  COMMITMENTS AND CONTINGENCIES
 
The Company may from time to time be involved with various litigation and claims that arise in the normal course of business. As of January 31, 2009, no such matters were outstanding.

7SUBSEQUENT EVENTS
 
From February 1, 2009 to May 5, 2009, RX Scripted borrowed an additional $3,700 on the revolving line of credit.
F-14


PART II - INFORMATION NOT REQUIRED IN PROSPECTUS

ITEM 13.   OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION

The following table sets forth the expenses in connection with this Registration Statement. All of such expenses are estimates, other than the filing fees payable to the Securities and Exchange Commission.

Description
 
Amount to be Paid
 
       
Filing Fee - Securities and Exchange Commission
 
$
     0.93
 
Attorney's fees and expenses
   
20,000.00
*
Accountant's fees and expenses
   
15,000.00
*
Transfer agent's and registrar fees and expenses
   
  5,000.00
*
Printing and engraving expenses
   
  1,000.00
*
Miscellaneous expenses
   
  1,000.00
*
         
Total
 
$
42,000.93
*

* Estimated

ITEM 14.   INDEMNIFICATION OF DIRECTORS AND OFFICERS

See Indemnification of Directors and Officers above.

ITEM 15.   RECENT SALES OF UNREGISTERED SECURITIES

In December 2007, in connection with and pursuant to the plan of conversion whereby we converted from a North Carolina limited liability company to a Nevada corporation, we issued MaryAnne McAdams, our sole officer and Director, an aggregate of 1,500,000 shares of our restricted common stock.  We claim an exemption from registration afforded by Section 4(2) of the Act since the foregoing issuance did not involve a public offering, the recipient took the shares for investment and not resale and we took appropriate measures to restrict transfer.  No underwriters or agents were involved in the foregoing issuances and we paid no underwriting discounts or commissions.

In December 2007, we issued an aggregate of 1,500,000 restricted shares of our common stock to David M. Loev, our legal counsel, in consideration for services rendered.  We claim an exemption from registration afforded by Section 4(2) of the Act since the foregoing issuance did not involve a public offering, the recipient took the shares for investment and not resale and we took appropriate measures to restrict transfer.  No underwriters or agents were involved in the foregoing issuances and we paid no underwriting discounts or commissions.

From May 2008 to June 2008, the Company sold a total of 232,500 shares of common stock for an aggregate of $23,250 to certain investors through a Private Placement Memorandum offering.  The Company claims an exemption from registration afforded by Rule 506 of Regulation D under the Securities Act of 1933, as amended for the above sales.

In or around August 2008, the Company entered into a Transfer Agent Agreement with Island Capital Management, LLC, doing business as Island Stock Transfer (“Island”). Island agreed to serve as the Company’s transfer agent for the term of one year in consideration for $5,000 and 50,000 restricted shares of common stock. We claim an exemption from registration afforded by Section 4(2) of the Act for the foregoing issuance, as the issuance did not involve a public offering, the recipient took the shares for investment and not resale and we took appropriate measures to restrict transfer.
-37-


ITEM 16. EXHIBITS

Exhibit Number
Description of Exhibit
   
Exhibit 3.1(1)
Articles of Incorporation
   
Exhibit 3.2(1)
Bylaws
   
Exhibit 5.1*
Opinion and consent of The Loev Law Firm, PC re: the legality of the shares being registered
   
Exhibit 10.1(1)
Revolving Credit Promissory Note with Kevin McAdams (December 12, 2007)
   
Exhibit 10.2(1)
Convertible Promissory Note with David M. Loev (March 11, 2008)
   
Exhibit 10.3(2)
Amended Convertible Promissory Note with David M. Loev
 
Exhibit 10.4(3)
Amended Revolving Credit Promissory Note with Kevin McAdams
 
Exhibit 10.5(3)
Second Amended Convertible Promissory Note with David M. Loev
 
Exhibit 23.1*
Consent of GBH CPAs, PC
   
Exhibit 23.2*
Consent of The Loev Law Firm, PC (included in Exhibit 5.1)

*   Attached hereto.

(1)  Filed as Exhibits to the Company’s Registration Statement on Form S-1 filed with the Commission on July 22, 2008, and incorporated herein by reference.

(2) Filed as an Exhibit to the Company’s Quarterly Report on Form 10-Q filed with the Commission on December 19, 2008, and incorporated herein by reference.

(3) Filed as an Exhibit to the Company’s Annual Report on Form 10-K filed with the Commission on May 8, 2009, and incorporated herein by reference.
-38-

ITEM 17. UNDERTAKINGS

The undersigned registrant hereby undertakes:

1.
To file, during any period in which offers or sales are being made, a post effective amendment to this Registration Statement:

 
(a)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
     
 
(b)
To reflect in the prospectus any facts or events which, individually or together, represent a fundamental change in the information in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in the volume and rise represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and
     
 
(c)
To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material changes to such information in the Registration Statement.

2.
For determining liability under the Securities Act, treat each post-effective amendment as a new registration statement of the securities offered, and the offering of the securities at that time to be the initial bona fide offering.
   
3.
To file a post-effective amendment to remove from registration any of the securities that remain unsold at the end of the offering.
   
4.
For determining liability of the undersigned registrant under the Securities Act to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

 
i.
Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;
     
 
ii.
Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;
     
 
iii.
The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and
     
 
iv.
Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.
 
5.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer of controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
-39-

6.
For determining any liability under the Securities Act, treat the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant under Rule 424(b)(1) or (4) or 497(h) under the Securities Act as part of this registration statement as of the time the Commission declared it effective.
 
7.
For determining any liability under the Securities Act, treat each post-effective amendment that contains a form of prospectus as a new registration statement for the securities offered in the registration statement, and that offering of the securities at that time as the initial bona fide offering of those securities.
     
8.
That, for the purpose of determining liability under the Securities Act to any purchaser:

 
 a). If the registrant is relying on Rule 430B:
 
 
1.
Each prospectus filed by the undersigned registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and
     
 
2.
Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section 10(a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date; or
 
 
b). If the registrant is subject to Rule 430C:
 
 
Each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

 
-40-

SIGNATURES

In accordance with the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all the requirements of filing on Form S-1 and authorized this Registration Statement to be signed on its behalf by the undersigned in the City of ­­­­­­­­­­­­­­­­ Holly Springs, North Carolina, on October 1, 2009.

RX SCRIPTED, INC.

By: /s/ MaryAnne McAdams
MaryAnne McAdams
Chief Executive Officer
(Principal Executive Officer)
and
Chief Financial Officer
(Principal Accounting Officer)

In accordance with the requirements of the Securities Act of 1933, this Registration Statement was signed by the following persons in the capacities and on the dates stated.

/s/ MaryAnne McAdams
MaryAnne McAdams
Chief Executive Officer
(Principal Executive Officer),
Chief Financial Officer
(Principal Accounting Officer),
Secretary, Treasurer,
and Director

 October 1, 2009
-41-


EXHIBIT INDEX


Exhibit Number
Description of Exhibit
   
Exhibit 3.1(1)
Articles of Incorporation
   
Exhibit 3.2(1)
Bylaws
   
Exhibit 5.1*
Opinion and consent of The Loev Law Firm, PC re: the legality of the shares being registered
   
Exhibit 10.1(1)
Revolving Credit Promissory Note with Kevin McAdams (December 12, 2007)
   
Exhibit 10.2(1)
Convertible Promissory Note with David M. Loev (March 11, 2008)
   
Exhibit 10.3(2)
 
Amended Convertible Promissory Note with David M. Loev
 
Exhibit 10.4(3)
Amended Revolving Credit Promissory Note with Kevin McAdams
 
Exhibit 10.5(3)
Second Amended Convertible Promissory Note with David M. Loev
 
Exhibit 23.1*
Consent of GBH CPAs, PC
   
Exhibit 23.2*
Consent of The Loev Law Firm, PC (included in Exhibit 5.1)

*   Attached hereto.

(1)  Filed as Exhibits to the Company’s Registration Statement on Form S-1 filed with the Commission on July 22, 2008, and incorporated herein by reference.

(2) Filed as an Exhibit to the Company’s Quarterly Report on Form 10-Q filed with the Commission on December 19, 2008, and incorporated herein by reference.

(3) Filed as an Exhibit to the Company’s Annual Report on Form 10-K filed with the Commission on May 8, 2009, and incorporated herein by reference.
-42-