MaxxZone.com Inc. -OTCBB:MAXZ- Announces Interim Funding Commitment.Business Editors HENDERSON, Nev. & ORLANDO, Fla.--(BUSINESS WIRE)--April 29, 2004 MaxxZone.com Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : MAXZ) and American Card Services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. Inc.--Walter H. Roder II, the president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Card Services Inc. ("ACS (Asynchronous Communications Server) See network access server. "), announced today that ACS has closed on an interim funding commitment of $200,000 priced at 110% of the closing price of the company's common stock on April 23, 2004. The shares of common stock are restricted and must be registered with the SEC through public filing. American Card Services Inc. is in the rapidly emerging stored-value 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. market. ACS provides "unbanked" ethnic groups with a two debit card product as a viable alternative to cash and traditional money transfers. ACS primarily targets the 40 million U.S. Hispanics who spend over $500 billion annually in cash and transfers over $50 billion to Central and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , $25 billion to Mexico alone. With the proper ID, the cardholder card·hold·er n. One who holds a card, especially a credit card. card hold can order up to two Debit MasterCard cards,
which add the ability to make purchases wherever MasterCard cards are
accepted, including phone and Internet orders and purchases at
restaurants, car rentals and hotels. The second debit card can be sent
to family members in the cardholder's country of origin, thereby
making funds loaded in 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. available to them. The ACS two
card debit card product is a more cost-effective and convenient
card-based alternative to money transfers. A typical $300 Western Union
money transfer, for example, costs up to $53. The ACS alternative costs
$21 representing savings up to 61%.
ACS is a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. formed in August 2002, with its operational center in Orlando, Fla. Its common shares trade under the symbol (OTCBB: "MAXZ"). It is a full-service company providing data processing, customer service, distributor and sales support, card production, marketing and sales stored-value debit card products and programs. For more ACS Inc. information, visit www.ultima-cards.com or call 866-703-7556. This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our limited operating history; (2) our ability to pay down existing debt; (3) our ability to retain the professional advisors necessary to guide us through our corporate restructuring including, but not limited to, our contemplated transaction with American Card Services Inc.; (4) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (5) unforeseen costs and expenses; (6) potential litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. with our shareholders and/or former or current investors; (7) the company's ability to comply with federal, state and local government regulations; and (8) other factors over which we have little or no control. |
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