Legends Business Group, Inc. Secures Consulting Agreement and Purchases Equity Stake in Transaction Clearing
May 04 2009 - 1:41PM
Marketwired
Legends Business Group, Inc. (PINKSHEETS: LGBS) announced today
that it has entered into a consulting agreement with Transaction
Clearing of San Antonio, Texas. Legends Business Group has agreed
to consult with Transaction Clearing in all matters of regulatory
compliance, as well as, the design of critical business strategies
for testing procedural and compliance protocols involving the
company's proprietary business programs.
As part of the negotiations, Legends Business Group was granted
the opportunity to make an equity investment in Transaction
Clearing. Additionally, Legends' interests include a seat on the
Transaction Clearing Board of Directors. Decision in regards to the
day-to-day operations of the company will remain with Transaction
Clearing's current management, with the input and advice of
LGBS.
"Legends Business Group has the experience, skills and
understanding of the full range of review perspectives that bear on
regulatory agency evaluation and protocol testing," stated Betty
Aguilar Managing Member of Transaction Clearing. "They will provide
guidance, input and review to structure protocol, data content and
collection and other information relative to regulatory scrutiny,"
continued Aguilar.
Transaction Clearing is a relatively new Local Exchange Carrier
(LEC) Clearing House out of San Antonio, Texas that has taken the
industry by storm with their innovative, up-to-date, customer
accounting, billing and collection software system that
incorporates the latest technical efficiencies with the most
current rules and LEC requirements. The company is most known for
providing customers with remarkable reporting flexibility and
immediate online access to their data.
Larry Powalisz, President and CEO of Legends Group, said, "This
is a very proud moment for Legends Business Group. Our partnership
with Transaction Clearing will provide Legends an opportunity for
enhanced flexibility and efficiencies in managing its commercial
operations platform as well as significant revenue streams. This
move represents a significant step toward achieving our goal of
providing the most efficient, advanced billing and payment
solutions to business owners who are looking to promote superior
niche market products and services globally."
About Legends Business Group, Inc.:
Legends Business Group, Inc. is a Pink Sheet stock which trades
under the symbol LGBS. To obtain additional information about
Legends Business Group, Inc., please visit the Company's website,
which may be found at: www.lbgi.net.
This press release contains statements that are
"forward-looking," and involve a number of risks and uncertainties.
Statements that are not historical facts are considered
forward-looking statements, and are subject to Safe Harbor
provisions as defined in the United States Private Securities
Litigation Reform Act of 1995 Company results and performance may
be materially different from future results, strategies, plans or
goals expressed or implied by any forward looking statements made
herein. The Company disclaims any obligation to update or revise
any forward-looking statements.
Contact: Legends Business Group, Inc. Larry Powalisz
407-263-4029 inquiries@lbgi.net
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