Credit Store Lists On the American Stock Exchange.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)--Aug. 28, 2000 The Credit Store, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : PLCR) today announced that its Common Stock has been approved for listing on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (Amex) under the symbol CDS. The Company will begin trading on the Amex on Tuesday, August 29, 2000. The Company will be discontinued trading on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. at the close of business on Monday, August 28, 2000. Amex is the nation's second largest and most technologically advanced floor-based exchange. On the Amex, trading is conducted through an advanced centralized specialist system, combining the speed of computer-delivered orders with the liquidity of customer-driven markets. A traditional "floor-based" market, the AMEX is structured to consolidate all incoming stock orders and channel trades for a particular stock through a single dealer, called a specialist. 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 unsecured credit card products to consumers who may otherwise fail to qualify for a traditional unsecured bank credit card. The Company reaches 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 regarding anticipated trends for the Company's common equity as a result of moving its trading to a floor-based exchange. Future trends or results may differ materially from those discussed in this press releases. Because actual trends and results may differ, readers are cautioned not to place undue reliance on forward-looking statements. Certain other risk factors for the Company are discussed in Amendment No. 1 to our Registration Statement on Form 10 filed with the Securities and Exchange Commission on April 6, 2000 and in our Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended February 29,2000. |
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