NEW YORK, Nov. 7, 2011 (GLOBE NEWSWIRE) -- Coupon Express Inc. (Pink Sheets:PSCP), today announced a number of recent corporate updates as a follow up to last week's announcement of the closing of a key funding.
Supermarkets
According to CEO, Eric Kash, Coupon Express Inc. is presently deploying kiosks into several separate supermarket chains affiliated with our strategic food wholesaler partners. These locations include a chain centered in Long Island, NY, one in Southern California, one in the greater New York City area, and various chains throughout Northern California. These deployments represent dozens of individual locations and will include ads and coupons from a leading list of manufacturers. "Not only are we seeing strong indications of advertising interest from leading food, beauty, cosmetic and health manufacturers, but are encouraged by the interest from in-house brands at the chain level," comments Mr. Kash. All of these new locations will be utilizing the jointly developed bar-coded "Shopping List" marketing initiative developed in conjunction with our technology partner, Midax Inc. With this technology, consumers simply select coupons from the Coupon Express kiosk which then prints a list of the items with a single indicating barcode. As the consumer proceeds to check out with his or her items and shopping list, the store clerk scans the barcode and appropriate discounts are credited for the purchased merchandise. The supermarket's point of sales system instantaneously produces electronic reports providing real time access to valuable marketing information allowing better advertising, inventory control and advertising cost analysis.
Financials
Coupon Express recently announced the closing of a $1.4 million placement of Cumulative Convertible Senior Notes. According to Mr. Kash: "The recent financing together with significant balance sheet improvements has positioned the Company for the execution of its business plan. Our current capital structure and access to lease funding from Yellow Box LLC, allows us the opportunity to focus on deployments, integrations, revenue generation and further proof of business. We have worked tirelessly to cement strategic partnerships with manufacturers, sales partners, servicing partners and retailers. In addition, we developed internal systems necessary to move forward. We look forward to expanding our business in this very exciting space and appreciate the continued support from our shareholders."
Disclaimers
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance and often contain words such as "anticipates," "believes," "estimates," "expects," "hopes," "intends," "plans," "seeks," "will," and other terms with similar meaning, including but not limited to, statements regarding the possibility of commitments for the Coupon Express from other national brands, creation of state-of-the-art loyalty programs and the possibility of increased revenue. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.