Credit Store Common Returns to OTC Bulletin Board.Business Editors SIOUX FALLS Sioux Falls, city (1990 pop. 100,814), seat of Minnehaha co., SE S.Dak., on the Big Sioux River; settled 1856, inc. as a village 1877, as a city 1883. Settlers abandoned the site in 1862 because of Native American raids, but with the establishment (1865) of Fort , S.D.--(BUSINESS WIRE)--April 19, 2000 The Credit Store, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : PLCR) said today that its Common Stock has resumed trading via the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Electronic Bulletin Board. The first OTCBB transactions occurred yesterday afternoon, the Company said. From March 9 through April 17, The Credit Store's Common Stock was quoted temporarily via the National Quotation Bureau's "Pink Sheets", pending the Securities and Exchange Commission's (SEC) review of the Company's Registration Statement filed on Form 10 and declaring it effective. The Credit Store is now a fully reporting company under the Securities Exchange Act of 1934 and will file all reports as required under the Act, including Forms 10-K and 10-Q, commencing with The Credit Store's Annual Report for the fiscal year ending May 31, 2000. The Credit Store, Inc. is a technology based, 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. company that provides credit card products to consumers who may otherwise fail to qualify for a traditional unsecured bank credit card. The Company reaches these consumers by acquiring portfolios of non-performing consumer receivables and offering a new credit card to those consumers who agree to pay all or a portion of the outstanding amount due on their debt. The new card is issued with an initial balance and credit line equal to the agreed repayment amount. After appropriate seasoning, the Company seeks to sell or securitize Securitize The practice of a company selling accounts receivables or other debts owed to it. The third party that buys the debt assumes ownership of it and the responsibility for collecting the debts, and keeps the repayments when made. the credit card receivables generated by this business strategy. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risk and uncertainties. Future trends or results may differ materially from those discussed in this press release. Investors are encouraged to review the factors described from time to time in the Company's reports on file with the Securities and Exchange Commission, including but not limited to the Company's Amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. Registration Statement on Form 10 filed April 6, 2000. |
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