SALT LAKE CITY, Aug. 1, 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 with Collections Services (PFL) and full Media production services, has announced today the signing of a collections agreement with Select Lead Management LLC.
Pacific's dramatic growth during this past 30 days in its Lending division's collections department has brought about the need for the immediate hiring and training of 8 additional Lending and Collection professionals just for this one new account. The new client will significantly increase profits of the division.
Bruce Grogg, CEO of PFUO, commented, "This new client came as a referral from one of our existing clients, which cut the due diligence process time, which often can take months, down to just two weeks." Mr. Grogg continued, "With our growing reputation for excellent customer service and professional customer handling, our clients are beginning to refer their connections to us and we are presently negotiating with several of the referred clients that will make an incredible positive impact on our collections division."
With the addition of Select Lead Management's monthly collection volume, PFL's collections division revenues are expected to increase by an estimated $300,000 annually.
PFUO remains on track to reach its revenue goals for 2007.
About Pacific Financial
Pacific Financial Solutions, Inc. is a premier global distributor of financial services and products providing its customers with a wide array of kiosk enabling devices. Pacific is comprised of fully integrated divisions: Pacific Banking Services (Point-of-Banking terminals), Pacific Financial Lending and Pacific Media Group. Pacific is a location services provider (LSP) for national and regional retail merchants. Pacific's continued success is driven by corporate sales, ISO's sales, Affinity sales as well as mergers and acquisitions. Pacific's global strategy centers on deploying both single and multi-use debit banking products and services along with financial Lending and Collection services nationwide.
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.