SALT LAKE CITY, June 19, 2007 (PRIME NEWSWIRE) -- Pacific Financial Solutions, Inc. (Pink Sheets:PFUO), a leader in providing cashless ATM kiosks, Point-of-Banking (PBT) terminal technology, Alternative Financial Lending, Collections, Affinity "Gift to Give'' prepaid gift and stored value cards, and full TV, Radio and Print Media services, announced today the sale of its NW Payphone assets.
Pacific has owned and operated the NW Payphone route for nearly four years. Once a thriving communications business, in recent years with the advent of pre-paid phone cards and pre-paid cell phones, the entire industry has been in a spiraling downward revenue trend.
"We've been looking for a buyer for the payphone assets for sometime now," stated Pacific's CEO Bruce Grogg. Mr. Grogg continued, "And when we had a recent unsolicited offer to purchase the NW assets from another communications company, I jumped at the chance."
The transaction closed on June 1, 2007 and was an all cash transaction. PFUO remains on track to reach its revenue goals for 2007.
About Pacific
Pacific Financial Solutions, Inc. (www.pfuo.com) is a premier global distributor of financial services and products provides 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), Pacific Card Services. Pacific is an Affinity Services Provider (ASP) for national and regional 501c3 organizations. PFUO also has Pacific Financial Lending, Inc. which encompasses pre-collections services, commercial leasing, and consumer lending, and Pacific Media Group, Inc. a full service TV, Radio, and Print advertising agency. Pacific's continued success is driven by corporate sales, ISO's sales as well as mergers & acquisitions. Pacific's global strategy centers on consumer lending, pre-collections services, media, and deploying both single and multi-use debit banking services and enabling devices 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.