FNDS3000 Corp Announces Stock Purchases by Chairman
September 03 2009 - 9:00AM
PR Newswire (US)
JACKSONVILLE, Fla., Sept. 3 /PRNewswire-FirstCall/ -- FNDS3000 Corp
(OTC Bulletin Board: FDTC) (Frankfurt: "FT4," A0MWLG) the financial
transaction processing services company, currently introducing
prepaid card programs to the South African market, announced today
that Raymond Goldsmith, its Chairman, has purchased 81,066 shares
of common stock in the open market between January 22, 2009 and
September 2, 2009. The shares were purchased at prices ranging from
$0.24 to $0.36 per share. As a result, Mr. Goldsmith currently is
the direct beneficial owner of 181,066 shares and indirectly owns
12,973,422 shares through an affiliated entity for a total of
13,154,488 shares or 32.4% of the Company's outstanding common
stock. In addition, Mr. Goldsmith is the indirect beneficial owner
of a warrant to purchase 2,857,143 shares of common stock through
an affiliated entity. He also indirectly owns a warrant that
contains certain anti-dilution provisions to purchase additional
shares of common stock to maintain his fully-diluted ownership at
41.75%. This warrant, however, is only exercisable upon a full or
partial exercise of any derivative securities of the Company
outstanding as of July 1, 2009. Mr. Goldsmith is the indirect
beneficial owner of a $1,000,000 promissory note which bears
interest at 10%, and, is convertible into 6,140,063 shares of
common stock, inclusive of earned interest as of August 31, 2009.
For further information see the Company's Current Report on Form
8-K filed with the SEC on July 8, 2009. Mr. Goldsmith has advised
the Company that the purchases represent his confidence in the long
term prospects of the Company and that he may continue to purchase
additional shares in the open market from time to time but only
when there is an open trading window under the Company's policy
concerning stock purchases by directors and officers. However, Mr.
Goldsmith is not obligated to purchase any such additional shares
and there is no assurance that any additional shares will be
purchased. About FNDS3000 Corp: FNDS3000 Corp (OTC:FDTC) (BULLETIN
BOARD: FDTC) (Frankfurt: "FT4," A0MWLG) is a financial transaction
processing service company. Since its inception, its focus has been
on the development and implementation of a variety of prepaid card
programs outside the United States, including services to
individuals who lack access to conventional banking services.
FNDS3000 meets a vital need of companies that have financial
dealings with such individuals by offering prepaid cards that can
be tailored to the differing requirements of each customer.
FNDS3000 intends to provide these services in both developed and
underdeveloped nations through a proven U.S. processing platform
that has been designed for international and cross border
capability. Many of these FNDS3000 products carry worldwide brand
marks and can be used anywhere that accepts these brands. Programs
that can be supported include payroll, insurance, medical aid, gift
cards, prepaid cellular charges and small-scale international
transfers of funds. Forward Looking Statements 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 not limited to, the
potential loss of our relationships with each of the parties that
sponsor our cards and banks that manufacture, issue, and own the
cards; the loss of our service providers; security breaches of our
electronic information; the inability to raise sufficient capital
to fund its operations; and other risks as may be detailed from
time to time in the Company's periodic reports filed with the
Securities and Exchange Commission. The Company assumes no
obligation to publicly update or revise its forward looking
statements even if experience or future events make it clear that
any of the projected results expressed or implied herein will not
be realized. DATASOURCE: FNDS3000 Corp CONTACT: Joe McGuire, Chief
Financial Officer of FNDS3000 Corp, +1-904-273-2702, Web Site:
http://www.fnds3000.com/
Copyright