JACKSONVILLE, Fla.,
March 3, 2011 /PRNewswire/ --
FNDS3000 Corp (OTCQB: FDTC), an international prepaid processing
company currently introducing electronic payment solutions to the
South African market, today commented on the change in the
Company's stock quotation coverage which previously reflected
trading on both the OTC Bulletin Board and the OTCQB under the
symbol "FDTC," but now is reflected only on the OTCQB. The
change in coverage to strictly the OTCQB trading platform was
caused by the migration of the Company's market makers away from
the OTCBB, and does not affect, nor is it a reflection upon,
FNDS3000's business, operations or growth prospects.
The OTCQB is one of three tiers established by OTC Markets
Group, Inc., which operates one of the world's largest electronic
interdealer quotation systems for broker-dealers to trade
securities not listed on a national exchange. The OTCQB designation
is meant to identify companies that are reporting with the SEC or a
U.S. banking regulator, making it easy for investors to identify
companies that are current in their reporting obligations.
Joe McGuire Chief Financial
Officer of FNDS3000, stated, "We have learned that there is no
technical difference between an OTCBB listed security and a fully
reporting issuer trading on the OTCQB. Therefore, until such
time as our Company elects to pursue a listing on a major exchange,
our common stock will be quoted on the OTCQB, which can be viewed
at www.otcmarkets.com."
About FNDS3000 Corp
Headquartered in the U.S. with operations in South Africa, FNDS3000 Corp is engaged in
executing a series of international growth initiatives designed to
position the Company as a major player in the world's fastest
growing payment card segment: prepaid cards. Given that 40%
of the adult population in South
Africa is currently unbanked or underbanked, FNDS3000's
initial focus has concentrated on offering tailored prepaid card
programs and services to business customers in this developing
prepaid market, including network branded and closed loop programs
that support employee payroll, insurance, medical aid, gift cards,
prepaid cellular charges and small-scale international transfer of
funds. The Company provides these programs and services through a
proven, proprietary U.S. processing platform that has been designed
for international and cross border capability. For more
information, please visit www.FNDS3000.com, or follow us on Twitter
@_FNDS3000.
Forward Looking Statements
Matters discussed in this press release contain forward
looking statements. Investors are cautioned that such forward
looking statements involve risk and uncertainties, which could
significantly impact the actual results, performance, or
achievements of the Company. Such risks and uncertainties
include, but are not limited to, the potential loss of our
relationships with each of the parties that sponsor our cards and
banks that manufacture, issue, and own the cards; the loss of our
service providers; security breaches of our electronic information;
the inability to raise sufficient capital to fund its operations;
and other risks as may be detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange
Commission. The Company assumes no obligation to
publicly update or revise its forward looking statements even if
experience or future events make it clear that any of the
projected results expressed or implied herein will not be
realized.
SOURCE FNDS3000 Corp