IRVINE, Calif., Jan. 2, 2008 (PRIME NEWSWIRE) -- Sage Global Solutions, Inc. (Pink Sheets:SGGL) (Frankfurt Stock Exchange: WKN A0J265) (Frankfurt:Q9A) announced today that it has updated its financial statements and other disclosure documents with PinkSheets.com in an effort to upgrade its disclosure category from "No Information" to "Current Information."
"With our recently announced corporate restructuring and acquisition of PrimeStar Marketing Inc., we have begun a new and exciting chapter in our company's life. We appreciate the patience and support of our shareholders during this critical time of preparation and change. We expect that 2008 will be a milestone year for us as we launch our new corporate entity."
As a non-reporting public company, Sage Global is not required to file current financial statements and make other disclosures to the public. However, through PinkSheets.com Sage will voluntarily provide certain disclosures as well as current financial information.
"We are committed to transparency and proper disclosure of public information," said Joey Sanchez, CEO of Sage Global Solutions, Inc. "Improving our financial disclosure and ultimately upgrading our disclosure category will help to set Sage Global apart from the thousands of Pink Sheet issuers. We fully intend to continue to execute our business plan and meet disclosure requirements with an eye toward graduating to a broader exchange as soon as possible."
About Pink Sheets, LLC
Pink Sheets, LLC is the leading electronic inter-dealer quotation system, trading technology and financial information provider for the over-the-counter (OTC) securities markets. Its centralized information network includes services designed to benefit market makers, issuers, brokers and OTC investors. Pink Sheets information enhances the efficiency of OTC trading, provides better executions for OTC investors and improves the capital formation process for OTC issuers. For more information visit the Pink Sheets website at www.pinksheets.com.
About PrimeStar - Subsidiary of Sage Global
For businesses, PrimeStar offers solutions that reduce or eliminate the costs and hassles of issuing checks to employees, members, insureds, or service providers both domestically and internationally. Mailing, processing time, lost checks, fraud, and problems cashing checks are a thing of the past with PrimeStar. PrimeStar is able to develop innovative solutions for a company's "money process" problems. Conversion of paper processes to a purely digital solution enables PrimeStar to deliver cost savings, improve customer service, and increase the organization's perceived value to the customer.
For consumers, PrimeStar, through its PrimeStar Financial Centers, will offer a low cost version of a full service bank branch, with an innovative, multi-faceted money services product to segments of the population that the current financial system fails to reach. PrimeStar Financial Centers are money service centers that will integrate high-demand products currently being offered on an independent basis by multiple providers. Through the use of available technology, the centers will deliver to the consumer services with recognized value and convenience such as check cashing, money remittance, money orders, online account management, online bill payment, and ATM access. For more information visit: http://www.primestarcard.com
Safe Harbor Statement
Statements in this press release about the company's future and expectations other than historical facts are "forward-looking statements." These statements are made on the basis of management's current views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as management "believes," "plans," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Management cautions that the ability to attract clients and generate business may be affected by a decline in the Company's financial ratings, the competitive environment, the Company's ability to raise sufficient capital to meet the collateral requirements associated with its current business and to fund the Company's continuing operations and changes in market conditions.