LODI, Calif., March 5, 2007 (PRIME NEWSWIRE) -- Pacific Financial Solutions, Inc. (Pink Sheets:PFUO), a leader in providing cashless ATM kiosks, Point-of-Banking (PBT) terminal technology and Affinity "Gift to Give" prepaid gift and stored value cards, announces the closing of the merger with Pacific Financial Lending, Inc. (PFLI) of Salt Lake City, UT. This merger brings both personal and commercial financial lending capabilities to PFUO.
Pacific Financial Lending, Inc. brings PFUO a series of unique and proprietary lending solutions and alternative payment solutions along with pre-collections procedures that now allow Merchants to capture sales volume, heretofore, lost as a result of turned-down or rejected retail customers and PFSI funds a high percentage of these customers.
"PFLI's approach of offering customers alternative financing solutions such as third party negotiations on the customers behalf at existing credit facilities, that often result in reduced interest rates and increased credit limits. Retail Merchants are taking notice of our hugely successful and growing business," said Josh Lindsay, President of PFLI. Mr. Lindsay added, "Not only does PFLI help the Merchant's bottom line by collecting payments for goods already sold, but we also clear previously declined sales using alternative financing methods. Our client merchants are enjoying new found profits never available before."
"PFLI is pleased to retain and appoint Josh Lindsay, as President of PFUO's newest division," stated Clifford Goehring, Chairman of PFUO. Mr. Goehring continued, "Josh brings his success at leading and building world-class sales and marketing teams for alternative financing of nationwide Retail clients to PFUO."
The completion of this merger with PFLI brings new annual revenues that are projected to exceed $7.8 million in 2007. PFLI and staff will remain in Salt Lake City, UT.
About Pacific Financial (www.PFUO.com)
Pacific Financial Solutions, Inc. is a premier global distributor of financial services and products providing its customers with a wide array of prepaid stored-value and kiosk enabling devices. Pacific is comprised of fully integrated divisions: Pacific Banking Services (Point-of-Banking terminals) and Pacific Card Services. Pacific is a location services provider (LSP) for national and regional retail merchants. Pacific's continued success is driven by corporate sales, ISO's sales, Affinity sales as well as mergers & acquisitions. Pacific's global strategy centers on deploying both single and multi-use debit banking products and services along with stored-value debit card services worldwide.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.The words or phrases "would be," "would allow," "intends to", "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. 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.