mobiclear Announces New Stock Symbol: MOBI
July 21 2008 - 5:00AM
PR Newswire (US)
MANILA, Philippines and LAGUNA HILLS, Calif., July 21
/PRNewswire-FirstCall/ -- mobiclear, Inc. (OTC Bulletin Board:
MBIR; Frankfurt: B3CA), (http://www.mobiclear.com/), owner of the
unique, patent pending Personal Identification Verification
solutions system to help eliminate credit and debit card fraud,
announced that as of the opening of trading today, July 21, 2008,
it has obtained a new trading symbol, OTC BB: MOBI, and effected a
250 for 1 reverse stock split. "The reverse split enables the
Company to stabilize and increase shareholder value as we now move
forward with a strong product line and experienced management
team," said Stephen P. Cutler, CEO "Credit and debit card fraud
online cost businesses worldwide more than $60 billion a year.
Fraud on the Internet discourages many from using it for purchases.
We are confident that mobiclear has an answer that would quickly
reduce this problem by at least 10 percent, saving businesses more
than $6 billion," said Mr. Cutler. "Our unique, patent pending
Personal Identification Verification solutions system means that,
when using a credit card, the mobiclear customer receives a prompt
via their cell phone. Responding with the four-digit pin code
allows the transaction to proceed. Without the code, the credit
card doesn't work and the purchase fails. "If someone else were
using your credit card, even if they had all the other forms of
identification from, for instance, a stolen wallet or pocketbook,
without the four-digit code, they can't use your credit card to
steal," Mr. Cutler said. We are looking forward to introducing this
product, and other Internet security products, soon to a
marketplace that is eager for these innovations." ABOUT mobiclear:
mobiclear, Inc. (OTC BB: MOBI; Frankfurt: B3CA),
(http://www.mobiclear.com/), headquartered in Manila, Philippines,
offers a range of solutions to credit card and debit card fraud
based on its patent-pending Personal Identification Verification
system. It also offers products to ensure against fraud in all
electronic transactions, including telephone and Internet
transactions. Note: Certain statements in this news release may
contain "forward-looking" information within the meaning of rule
175 under the Securities Act of 1933 and Rule 3b-6 under the
Securities Act of 1934 and are subject to the safe harbor created
by those rules. We use words such as "anticipate," "believe,"
"expect," "future," "intend," "plan," and similar expressions to
identify forward-looking statements. These statements including
those related to being in a large and growing market, exhibiting
rapid growth characteristics, and having a growth strategy, are
forward looking statements. These forward looking statements are
only predictions and are subject to certain risks, uncertainties
and assumptions. Some of the risks, uncertainties and assumptions
that could cause actual results to differ materially from estimates
or assumptions in this press release include the risk that we will
not be able to grow our revenues and market share, the risk that
our prices do not remain competitive and the risk that we will not
achieve profitability. Additional risks are identified and
described in the Company's public filings with the Securities and
Exchange Commission, including our most recent Report on Form
10-KSB, and Reports on Form 10-Q and Form 8-K. Statements made
herein are as of the date of this press release and should not be
relied upon as of any subsequent date. The Company's past
performance is not necessarily indicative of its future
performance. The Company does not undertake, and the Company
specifically disclaims, any obligation to update any
forward-looking statements to reflect occurrences, developments,
events, or circumstances after the date of such statement. CONTACT:
mobiclear, Inc. Paul Knopick E & E Communications (949)
707-5365 DATASOURCE: mobiclear, Inc. CONTACT: Paul Knopick of E
& E Communications, +1-949-707-5365, , or , for mobiclear, Inc.
Web site: http://www.mobiclear.com/
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