FastFunds Financial Signs First Canadian Gaming Contract with Calgary Stampede.MINNEAPOLIS -- FastFunds Financial Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : FFFC FFFC Force Flow Fusion Center ) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Chex Services, Inc., ("Chex") a provider of comprehensive cash access services to gaming facilities and retail locations under the trademarked name FastFunds, has executed its first Canadian casino contract. Under the contract, Chex will be providing its CreditGuard product. CreditGuard is a proprietary credit and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. cash advance system that allows casinos patrons fast and easy access to their available funds. Additionally, the casino will have the advanced funds electronically settled into their account, thus maximizing their cash position and expediting the float of funds. "This contract represents our initial penetration into the Canadian market with prospect for a significant number of additional accounts to follow," stated Mike Casazza, FastFunds' Chief Executive Officer. FastFunds Financial Corporation is a holding company operating through its wholly owned subsidiary, Chex Services, Inc. of Minnetonka, Minnesota For other uses, see Minnetonka (disambiguation). Minnetonka is a suburban community located eight miles west of Minneapolis in Hennepin County. Its 2000 population of 51,480 makes it the fourteenth largest city in Minnesota. . The Company specializes in, and is the industry leader for, full booth operations to Native American casinos and has developed a suite of cash access products for use in the traditional gaming and retail markets. Chex Services' website is located at www.fastfunds.com. The Company is majority owned by Equitex, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : EQTX), a holding company based in Englewood, Colorado Englewood is a city in Arapahoe County, Colorado, USA. As of 2005, the city is estimated to have a total population of 32,350.[5] It is part of the Denver-Aurora Metropolitan Area. . The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute 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. made pursuant to the 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. provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Securities and Exchange Commission filings of FastFunds Financial Corporation (f/k/a Seven Ventures, Inc.) or its majority-owned parent company Equitex, Inc.; economic downturns affecting the operations of FastFunds Financial Corporation its subsidiaries or companies proposed for merger or acquisition; the loss of contracts or failure to acquire new contracts; success of any legal actions; failure to successfully implement newly developed product lines including projected increases in revenues or earnings; the inability to initiate or complete any contemplated restructuring, offering, acquisition, disposition or other transaction; adverse financial performance by FastFunds Financial Corporation or its subsidiaries; failure to obtain or maintain regulatory approval for products and services offered by FastFunds Financial Corporation or its subsidiaries; adverse equity market conditions and declines in the value of FastFunds Financial Corporation common stock; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and FastFunds Financial Corporation disclaims any intent or obligation to update these forward-looking statements. |
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