LODI, Calif., July 29, 2005 (PRIMEZONE) -- PayStar Corp (Pink Sheets:PYST) wishes to clarify previously issued press releases relating to the JV Agreement between PayStar and SMO Multimedia, a wholly owned subsidiary of Strategic Management & Opportunity Corp (Pink Sheets:SMPP).
PayStar has determined that the projected forecasted revenues in the previous press releases were derived from information from industry sources which is thought to be reliable but cannot be confirmed. Additionally, actual results from the EZPIX Photo Kiosks deployed by SMO Media prior to the AAFES contract have not been generating $4,000 in monthly photo revenue but were deployed in significantly less desirable locations. The JV Partners recognized from the anecdotal evidence available, that photo sales at the military locations should significantly exceed the revenues attained at pre-AAFES locations.
Additionally, the JV Partners are providing advertising and additional photo processing options in this new rollout. The additional revenue sources are expected to exceed the revenues projected in the July 12th release of $24 million in photo sales. The variation in projected revenues indicated in the two previous press releases is a result of the additional sale of advertising on the unique LCD header attached to all AAFES locations. When this increased Ad revenue is added to the photo and other media specialty sales income, the combined revenues are anticipated to reach up to $35 million in total for all revenue streams.
About PayStar
PayStar Corporation (www.paystar.com) provides its distributors and clients with a suite of prepaid, stored value products, Kiosk marketing and management. PayStar's GLOBALCash, Inc. (www.globalcash.us) distributes prepaid ATM debit and stored value cards that can be used just like regular credit cards. Prepaid ATM debit cards can be used everywhere major credit cards are accepted (stores, restaurants, theaters) and online. PayStar's corporate and distributor sales, as well as mergers and acquisitions, will continue to drive growth.
Legal Notice Regarding Forward-Looking Statements: 'Forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. Forward-looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected by management. These statements are only predictions and may differ materially from actual future results or events. PayStar disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.