JACKSONVILLE, Fla.,
Sept. 1, 2011 /PRNewswire/ --
FNDS3000 Corp (OTCQB: FDTC), an international prepaid processing
company currently introducing electronic payment solutions to the
South African market, today announced that effective September 1, 2011, the reporting obligations of
FNDS3000 Corp (the "Company") to the Securities and Exchange
Commission (the "SEC") have been suspended. Accordingly, the
Company will no longer be filing any reports with the SEC that it
is not obligated to file. The board of directors of the Company
considers these actions and the costs savings achieved thereto, to
be in the best interests of the Company, its employees and its
shareholders.
Information regarding the Company will continue to be available
at the following website:
http://fnds3000.com
About FNDS3000 Corp
Headquartered in the U.S. with operations in South Africa, FNDS3000 Corp is engaged in
executing a series of international growth initiatives designed to
position the Company as a player in the fastest growing payment
card segment: prepaid cards. Given that 40% of the adult population
in South Africa is currently
unbanked or underbanked, FNDS3000's initial focus has concentrated
on offering tailored prepaid card programs and services to business
customers in this developing prepaid market, including network
branded and closed loop programs that support employee payroll,
insurance, medical aid, gift cards, prepaid cellular charges and
small-scale international transfer of funds. The Company provides
these programs and services through a proven, proprietary U.S.
processing platform that has been designed for international and
cross border capability. For more information, please visit
http://fnds3000.com.
Forward Looking Statements
Matters discussed in this press release contain forward-looking
statements. 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.
SOURCE FNDS3000 Corp