LODI, Calif., May 12, 2008 (PRIME NEWSWIRE) -- Pacific Financial Solutions, Inc. (Pink Sheets:PFUO), a leader in providing cashless ATM kiosks, Point-of-Banking (PBT) terminal technology and Affinity "Gift to Give'' prepaid gift and stored value cards, announces the divestiture of all subsidiaries in a bulk sale completed in April; all three (3) divisions were divested in preparation for a complete reorganization.
As of May 9, 2008 a stock reversal of 1 for 7 was also completed in preparation for the reorganization. NASDAQ received the necessary documentation to process the reverse split for Pacific Financial Solutions Inc. and the new symbol as of this date is PCFN.
This divestiture and stock reversal completes Pacific's preparation for a pending merger.
About Pacific Financial (www.PFUO.com)
Pacific Financial Solutions, Inc. is a premier global distributor of financial services and products providing its customers with a wide array of prepaid stored-value and kiosk enabling devices. Pacific is comprised of fully integrated divisions: Pacific Banking Services (Point-of-Banking terminals) and Pacific Card Services. 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 & acquisitions. Pacific's global strategy centers on deploying both single and multi-use debit banking products and services along with stored-value debit card services worldwide.
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.