LOS ANGELES, Oct. 26, 2011 (GLOBE NEWSWIRE) -- MediSwipe Inc. (www.globenewswire.com/newsroom/ctr%3Fd=232177%26l=1%26a=http%253A%252F%252Fwww.MediSwipe.com%26u=http%253A%252F%252Fus.lrd.yahoo.com%252FSIG%253D11d6khuj7%252FEXP%253D1317066385%252F%252A%252Ahttp%25253A%252Fwww.MediSwipe.com%252F" target="_top" rel="nofollow">http://www.MediSwipe.com) (OTCBB:MWIP), a merchant payment solutions and financial products company for the medical health care industry and its wholly owned subsidiary 800 Commerce Inc. (www.globenewswire.com/newsroom/ctr%3Fd=232177%26l=1%26a=www.800Commerce.com%26u=http%253A%252F%252Fus.lrd.yahoo.com%252FSIG%253D11fc4gk42%252FEXP%253D1317066385%252F%252A%252Ahttp%25253A%252Fwww.800Commerce.com%252F" target="_top" rel="nofollow">www.800Commerce.com), a leading enabler and turnkey e-commerce solution provider including mobile payment solutions, today announced the Company has processed nearly two million dollars ($2,000,000) in medical and wellness merchant transactions for clients within the health services sector for the months of September and October 2011.
"We continue to be the most reliable partner for the medicinal and alternative health sector throughout California, Colorado and legal jurisdictions for payment solutions and prepaid health cards," stated Michael Friedman, CEO of MediSwipe Inc. "As we expand our business model into vertical markets within the healthcare and high risk payment sectors, we will aggressively seek to increase our current market share and brand within the industry through our newly acquired payment technologies and banking partners," added Friedman.
"With regard to the S-1 filing of our 800 Commerce subsidiary, our initial plan for filing on September 30th was delayed by the announcement and necessary adjustments to our financial statements due to the proposed acquisition of VestaDigital and partnership with SparkBase. We were further advised to file the S-1 concurrently with our 10Q, ending September 30th, 2011 which will be timely filed, as part of the S-1 registration."
"The important issue is that although temporarily delayed, the filing will take place as announced, and all present shareholders will be rewarded with a dividend share in the spin-off of 800 Commerce. I would urge our shareholders and perspective investors to realize that we have been a fully reporting company on the OTCBB exchange for several years, have almost no debt, and that management holds over a fifty per cent stake in this company. Our present market cap is less than five million dollars, and we have a very strong business model, real partnerships and with our strong desire to succeed, we believe the company is extremely undervalued at present prices. I am always personally available to speak to any investor who may have concerns, and would urge any investor who does not realize the value that we represent at these current levels to speak to me personally or seek out the advice of an investment professional who can fully explain our potential within the sector, rather than concern themselves with misleading and untruthful comments within chat room or stock forums being made by anonymous posters who may have hidden agendas," further added Friedman.
About MediSwipe Inc.
MediSwipe Inc. (www.globenewswire.com/newsroom/ctr%3Fd=234612%26l=6%26a=www.MediSwipe.com%26u=http%253A%252F%252Fus.lrd.yahoo.com%252FSIG%253D17eqji43u%252FEXP%253D1318884075%252F%252A%252Ahttp%25253A%252Fwww.globenewswire.com%252Fnewsroom%252Fctr%25253Fd%253D232424%252526l%253D4%252526a%253Dwww.MediSwipe.com%252526u%253Dhttp%2525253A%2525252F%2525252Fus.lrd.yahoo.com%2525252FSIG%2525253D11d5vlkk5%2525252FEXP%2525253D1317066231%2525252F%2525252A%2525252Ahttp%252525253A%2525252Fwww.MediSwipe.com%2525252F" target="_top" rel="nofollow">www.MediSwipe.com) offers a full spectrum of secure and reliable transaction processing and security solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) payment solutions. The Company now also offers digitized personal health records in conjunction with Industry Alliance Partners. MediSwipe offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated and e-commerce businesses specializing within the healthcare sector.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.