mobiclear Announces Agreements in Place to Begin Commercial Operations in 4th Quarter; Financing Update
September 10 2008 - 5:00AM
PR Newswire (US)
MANILA, Philippines, and LAGUNA HILLS, Calif., Sept. 10
/PRNewswire-FirstCall/ -- mobiclear, Inc. (OTC Bulletin Board:
MOBI; Frankfurt: B3CA), (http://www.mobiclear.com/), owner of the
unique, patent pending Personal Identification Verification (PIV)
solutions system to help eliminate credit and debit card fraud,
said today that it has signed agreements to both commercialize and
finance its PIV products. Commercial operations are expected to
commence in this year's fourth quarter. mobiclear announced that it
has signed agreements with Bastion Payment Systems
(http://www.bastionpaymentsystems.com/) to commercialize and host
its PIV products. "With these agreements mobiclear should be able
start commercial operations in the fourth quarter," said Stephen P.
Cutler, CEO. mobiclear and Bastion have also agreed on a financing
arrangement in which Bastion will provide mobiclear with a credit
facility to be used to pay for the Bastion services. "This is
excellent news for mobiclear and its shareholders," said Mr.
Cutler. "This provides a way to bring mobiclear's products to
commercial reality along with a funding mechanism that enables
mobiclear to move forward without expending cash up front."
mobiclear also announced the signing of an investment banking
agreement with PHD Capital (http://www.phdc.com/) and the raising
of $200,000 from the private sale of securities. Jody Eisenman, CEO
of PHD Capital, stated, "We are excited about working with
mobiclear. We believe that credit card fraud is, unfortunately, a
huge global problem that is growing dramatically. mobiclear has a
unique user friendly platform that provides a real solution."
"These developments are the next step in the Company's efforts to
implement its business plan. We are delighted with the support
shown by Bastion and the continuing relationship with PHD,"
mobiclear's CEO said. 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.
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