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FUNDSTECH CORP ANNOUNCES 2-for-1 FORWARD SPLIT NOW EFFECTIVE
Ponte Vedra Beach, FL January 8, 2008 /PRNewswire-FirstCall/FundsTech Corp (NASDAQ OTC (FNDS), (Frankfurt “FT4’, A0MWLG) a financial services company announced today that a 2 for 1 forward split of the Company's common stock is now effective.
FundsTech shareholders as of the record date of 12-31-2007 will receive 2 shares of common stock for each current share they own. For example, shareholders owning 5,000 shares prior to the stock split will own 10,000 shares following the split.
David Fann, president and member of the Board of Directors of the Company, said, "The stock split is designed to attract additional individual stockholders, increase the liquidity of the stock and diversify the stockholder base, all of which are in line with our overall growth strategy and shareholder interest."
On December 31, 2007, FundsTech Corp had 7,148,995 shares of common stock issued and outstanding. After the forward split, the Company will have approximately 14,297,990 million shares of its common stock issued and outstanding.
About FundsTech Corp
FundsTech Corp is a financial services company that provides prepaid debit cards to the over 1 Billion working population worldwide who do not have a bank account. This market is estimated at over $100 Billion on an annual basis. The Industry average for prepaid cards is $12.00 per month per card. The FundsTech Cash Card allows the employer to replace payroll checks for their un-banked workers. In addition it allows employers to use the FundsTech Cash Card where they now have to pay their employees in cash, which is estimated to be over 50% of the worldwide working population. The FundsTech Cash Card also allows for the domestic and international transfer of money (replaces Western Union) which is also a market estimated to be over $100 Billion annually. The FundsTech Cash Card can be used anywhere in the world that accepts MasterCard or Visa. Other services include Gift cards, bill pay, prepaid cellular, etc.
Company Contact FundsTech:
Matters discussed in this press release contain forward looking statements as defined under the Private Securities Litigation Reform Act of 1995. 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 limited to, the time frame for production of revenue, product development and commercial introduction, the impact of rapid price and technological change and competition, manufacturing and supply uncertainties and other risks as may be detailed from time to time in the Company's periodic reports filed with the Securities & Exchange Commission. |
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