LODI, Calif., Aug. 9, 2005 (PRIMEZONE) -- PayStar Corporation (Pink Sheets:PYST), one of the nation's growing providers of stored value debit cards, prepaid ATM debit cards and Kiosk marketing and management, announced today it will continue its appointment with Pritchett, Siler & Hardy, P.C., the Companies' Independent Certified Public Accountants and has engaged Securities Regulation Attorney Joseph I. Emas, to assist PayStar Corporation in returning to the OTCBB.
William D. Yotty, CEO and Chairman of PayStar, stated; "This audit and review is part and parcel to PayStar's obligation to Cornell Capital and their recent major funding commitment." Mr. Yotty continued, "PayStar is anticipating the filing of the overdue financial reports, quarterly and annual reports to be completed by early next year. Each quarterly and annual report will be posted to the EDGAR system as they are completed."
About PayStar
PayStar Corporation (www.paystar.com) provides its distributors and clients with a suite of prepaid, stored value products, prepaid debit cards along with 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 is a partner in a prepaid ATM debit card program for a national government project that will enable millions of underserved and subsidized housing individual's access to prepaid ATM debit cards. PayStar's corporate and distributor sales, as well as mergers and acquisitions, will continue to drive growth.
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.