BSI2000 Sponsors Loan Application for South African Bankcard Joint Venture.Business Editors DENVER--(BUSINESS WIRE)--Sept. 24, 2003 BSI BSI - British Standards Institute 2000 Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : BSIO), a developer of integrated optical card-based systems, today announced the filing of an application for a $1,000,000 loan from Overseas Private Investment Corp. (OPIC OPIC Overseas Private Investment Corporation OPIC Office de la Propriété Intellectuelle du Canada (French: Canadian Intellectual Property Office) OPIC Organization of Professional Immigration Consultants OPIC Ohio Public Interest Campaign ), an agency of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. government. The loan application, sponsored by BSI2000, was filed on behalf of a joint venture between BSI2000 and its South African partner companies. The proceeds of the loan will be used by the joint venture to purchase Transact 2000(TM) systems and optical cards from BSI2000. The joint venture will operate ATM-based branch banks using BSI2000's Transact 2000(TM) system. Operating under the name eUnity Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. (Pty) Ltd., the joint venture is organized as a South African corporation with BSI2000 as a 25 percent equity participant. The joint venture's application was filed with OPIC on Sept. 22, 2003. OPIC is an agency of the U.S. government, which facilitates investment by U.S. companies in foreign countries by insuring or making direct loans. The application sponsored by BSI2000 is for a direct loan of $1,000,000. The venture's first branch was opened in the Venda Venda (vĕnd`ə), former black "homeland" and nominal republic, NE South Africa. It comprised two connected areas near the Zimbabwe border in what is now Limpopo prov. area on Sept. 21, 2003, as part of a pilot program. Approximately 1,000 cards will initially be issued in the pilot program with plans to substantially increase that number before the end of this year. The goal of the joint venture is to become the major provider of banking services to South Africa's unbanked population composed of some 35 million members of tribal and ethnic groups. Jack Harper Jack Harper may refer to:
About BSI2000 Inc. BSI2000 Inc., a manufacturer of integrated hardware and software optical card products, has developed proprietary applications of patent-pending technology for the homeland security and other markets that use LaserCard(R) products. Company Web site: www.bsi2000.com (English, German, French, Russian, Arabic) NOTE: LaserCard(R) is a registered trademark of LaserCard System Corp. (www.lasercard.com). Civilitas 2000, Transact 2000, SIGABA 2000, and Crypto 2000 are trademarks of BSI2000 Inc. Patents pending. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. |
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