MediSwipe Inc. Announces Plans to Retire 26 Million Shares to Treasury Lowering Outstanding Shares by Almost 10%
August 11 2011 - 10:06AM
MediSwipe Inc. (http://www.MediSwipe.com) (OTCBB:MWIP), a leading
company specializing in merchant payment solutions and financial
products for the medical health care industries and mobile payment
industry, today announced plans to retire twenty six million (26)
common shares to the Company's treasury that will be sent to the
transfer agent for retirement. In a pre-arranged deal and recent
board resolution, this retirement represents almost ten percent
(10%) of the current outstanding share count held by the parent
Company. MediSwipe believes the retirement of these shares benefits
the Company and all shareholders by reducing the number of
outstanding shares and lowering dilution.
"Shareholders will be updated as this process is implemented. It
must be said that our Company has no plans to issue any stock, save
for any transactions or any possible mergers or acquisitions that
are presented to the Board and deemed to increase the value of our
Company. Our plans are to file our 10 Q on time by the 15th of this
month, which is now completed, and complete the S-1 spin-off of our
subsidiary, 800 Commerce, by the end of September, offering every
current shareholder a dividend share of their holdings once
effective. Our goal is now as it has always been, which is to
reward shareholders moving forward," stated B. Michael Friedman,
CEO of MediSwipe Inc.
About MediSwipe, Inc.
MediSwipe, Inc. (www.MediSwipe.com) offers a full spectrum of
secure and reliable transaction processing and security solutions
for the medical and healthcare industries, using traditional,
Internet Point-of-Sale (POS), e-commerce and mobile (wireless)
payment solutions. The Company now also offers digitized personal
health records in conjunction with Industry Alliance Partners.
MediSwipe offers reliable merchant payment solutions and
closed-loop, pre-paid, stored value and loyalty cards as a unique
cash alternative to these regulated and e-commerce businesses
specializing within the healthcare sector.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking
statements and information, as defined within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the Safe Harbor
created by those sections. This material contains statements about
expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of MediSwipe Inc. to be
materially different from the statements made herein.
CONTACT: MediSwipe Inc.
Investor Relations:
305-396-9097
info@MediSwipe.com
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