IRVINE, Calif., Jan. 30, 2013 (GLOBE NEWSWIRE) -- Continental Prison Systems, Inc. (OTC:CPSZ) a payment processing technology company that specializes in the $500 billion government payment space, is pleased to provide shareholders with a brief update regarding 2012 and the near future.
"We are pleased with the tremendous growth of our revenue base and operational capabilities in Fiscal Year 2012. We surpassed internal expectations and are now poised to increase our rate of expansion as we enter Fiscal Year 2013," stated Ronald Hodge, Chief Executive Officer of Continental Prison Systems. "After expanding our base to over 50 installations, we are confident that our systems can sustain higher rates of growth, larger transactional volumes and various payment types. We are looking forward to leveraging our new channel partners and their ability to sell our products as we drive increased market share."
"The company has proven its ability to process a variety of payments via its payment portals, including utility payments," Hodge added. "We believe that in addition to the revenue that this provides that it also helps to expand value for Continental's brand."
"We do believe that it may be necessary to seek additional outside funds to continue our rapid expansion and to capture market opportunities as they arise," said Hodge. "We will be most prudent and efficient in selecting our financing partner."
"In addition to our continued growth, we took steps to enhance our transparency. Adding Integrity Investor Relations provides us with a highly-skilled, professional and accessible means through which we can communicate and service our valued shareholders. Moreover, we are working diligently to complete a full audit that we can then share with the investing public. It is my personal expectation that this document will be available in the first half of 2013 barring an unforeseen event."
"In closing, we want to thank our team and our close-knit group of service providers who believe in what we're doing and lend their skill and expertise to Continental Prison Systems," Hodge added. "But most importantly, we want to thank each and every shareholder who has stuck with us through the bumpy ride that can be investing in microcap stocks in public markets. We will do our very best to deliver long term value to our investors."
About Continental Prison Systems
Continental Prison Systems Inc (dba EZCard and Kiosk) is a technology company that provides government agencies with proprietary hardware (Kiosks) and cloud based software systems that automate the process of collecting payments from the general public (Cash, Debit and Credit). These systems deliver payment acceptance, real-time accounting and payment risk-mitigation services. The company distributes these technologies through direct sales, channel partners, and various licensed entities.
For more information visit www.ezcardandkiosk.com
Forward-Looking Statements
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 isn't necessarily indicative of its future performance. The Company doesn't 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.