FNDS3000 Corp Announces Acquisition of U.S. Based Company Marketing Debit and Credit Card Programs to Merchants and Employers
July 08 2008 - 7:00AM
PR Newswire (US)
PONTE VEDRA BEACH, Fla., July 8 /PRNewswire-FirstCall/ -- FNDS3000
Corp. (OTC:FDTC) (BULLETIN BOARD: FDTC) (Frankfurt: "FT4," A0MWLG)
is announcing a shareholder update. FNDS3000 Corp has acquired the
assets of a U.S. based company that markets credit and debit card
programs to merchants and employers throughout the U.S. The company
annually processes in excess of $150 million generating
approximately $1,000,000.00 in annual revenue. Michael Dodak, CEO
of FNDS3000 stated, "We are pleased to announce the acquisition of
a large and growing company with a base of installations in the
U.S. The purchase provides us with proprietary software solutions
for the virtual POS/internet market and an Electronic Funds
Transfer platform for our U.S. and worldwide customers. This
enables us to line extend our current product offering to existing
and new customers and can be used advantageously in a cross-selling
market strategy. The completion of this transaction allows us to
generate revenue beginning this month, in tandem with our launch
and delivery of debit cards to our South African customers. These
activities position us to achieve our revenue, profit and EBITDA
goals for 2008 and 2009." Joe Tumbarello, COO of FNDS3000 stated,
"FNDS3000 now has a unique set of business skills and products. We
can provide a turnkey solution for prepaid card issuing and
merchant processing virtually anywhere in the world. Our efficient
organizational structure enables us to react quickly to tailor
client-centric products. The management talent of the company,
along with our global products and vision will catapult FNDS3000's
revenues and profits." About FNDS3000 Corp FNDS3000 Corp is a
financial services company providing prepaid card and merchant
processing solutions. We provide prepaid cards to a market with
over 1 Billion individuals worldwide who do not have bank accounts,
estimated at over $100 Billion in annual revenue. Our products
allow employers to replace payroll checks for all workers. In
addition, employers can use our products in lieu of cash to pay
employees -- this may be greater than 50% of the worldwide working
population. Domestic and international sharing of money, similar to
Western Union(TM), is a key feature of our solution. This market is
estimated to be over $100 Billion annually. Many of our products
carry worldwide brand marks and can be used anywhere in the world
that accepts those brands. Other services include gift cards, bill
pay, prepaid cellular and other prepaid products. Our merchant
processing solutions provide comprehensive credit, debit, and check
card payment programs. We are dedicated to the service and
profitability of our merchants. The combination of card issuing and
merchant processing enables FNDS3000 to provide turnkey financial
transaction solutions to virtually any market worldwide. Matters
discussed in this press release contain forward looking statements
as defined under the Private Securities Litigation Reform Act of
1995. Investors are cautioned that such forward looking statements
involve risk and uncertainties, which could significantly impact
the actual results, performance or achievements of the Company.
Such risks and uncertainties include, but are limited to, the time
frame for production of revenue, product development and commercial
introduction, the impact of rapid price and technological change
and competition, manufacturing and supply uncertainties and other
risks as may be detailed from time to time in the Company's
periodic reports filed with the Securities & Exchange
Commission. Contact: David Fann President FNDS3000 Corp.
904-273-2702 http://www.fnds3000corp.com/ DATASOURCE: FNDS3000 Corp
CONTACT: David Fann, President, FNDS3000 Corp., +1-904-273-2702,
Web site: http://www.fnds3000.com/
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