PTS, Inc. Sells Wholly Owned Subsidiary, Global Links Card Services, Inc., for $349,000.LAS VEGAS -- PTS PTS put to sleep; a common euphemism for euthanasia, but also used to describe general anesthesia. , Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : PTSH), announced today that it has completed a transfer all of its interest in Global Links Card Services, Inc. ("GLCS"), a 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. of PTS Card Solutions Inc., in exchange for a convertible note receivable note receivable A debt due from borrowers and evidenced by a written promise of payment. Note receivable, an entry on the asset side of many corporate balance sheets, indicates the dollar amount of loans due to be repaid by borrowers. . PTS holds approximately 99% of PTS Card Solutions. The Company determined that GLCS' operations no longer fit with the Company's objectives, and would require substantial additional cash contributions in order to advance to profitability. The amount of the note is $349,000.00 Additional details pertaining to this transaction are available in Form 8K that was filed today with the Securities & Exchange Commission. About PTS, Inc. PTS' operations include two subsidiaries, Glove Box glove box n. An enclosed workspace equipped with gloved openings that allow manipulation in the interior, designed to prevent contamination of the product, the environment, or the worker. , Inc. which owns the rights to the patented, revolutionary Glove Box[TM], the only product that offers contamination reduction through automated glove dispensing. The Glove Box system is a freestanding dispenser of disposable latex gloves, which is being marketed by PTS in the US and Asia. PTS acquired GLCS in December, 2004 establishing it in the debit card distribution business. The second subsidiary is Disability Access Consultants, Inc. which conducts facility inspections, policy reviews and program analyses in addition to a comprehensive continuum of other compliance services. More than 54 million people in the United States have a disability, a number equal to 20% of the population. The Americans with Disabilities Act Americans with Disabilities Act, U.S. civil-rights law, enacted 1990, that forbids discrimination of various sorts against persons with physical or mental handicaps. of 1990 requires all organizational entities, public or private, with more than 15 employees, to provide equal access for individuals with disabilities. It is estimated that there are more than 7 million sites at risk across the United States. For more information about DAC See D/A converter and discretionary access control. DAC - Digital to Analog Converter , please visit: www.adaconsultants.com. Please visit the company's website: www.ptspi.com/. Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. |
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