Now that the chart is showing reversal signs, I though I would post this little gem to the board
The company has developed a system to process and execute financial instruments in a seamlessly integrated fashion, which can handle any type of financial instrument.
The company has been in the R&D phase for a number of years, but a few days ago PR'd details of its first contract, which is to process 1.8 billion in financial instruments with MINUMUM expected revenues of 20 million. This is their first real contract and only one financial instrument that they are handling, they expect to handle more from the contracted company.
"Feb 22, 2007 3:54:00 PM
Copyright Business Wire 2007
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
Please replace the release dated Feb. 22, 2007 with the following corrected version due to multiple revisions.
The corrected release reads:
PRIVATE TRADING SYSTEMS ANNOUNCES ENHANCED TRADING SERVICES AGREEMENT WITH ADMIRAL ASSET GROUP
Private Trading Systems, Inc. (Pink Sheets:PVTM) announces a revised Trading Services Agreement with Admiral Asset Group, Inc. of New York. Private Trading Systems operates a platform for trading financial instruments in electronic form with instantaneous clearance and settlement in real time. The Company will provide trading facilities for Securitized Trusts of Life Insurance Policy Settlements in electronic form through its European subsidiaries for Admiral Asset Group. The five year exclusive Agreement will cover a successive series of Instruments when and if issued; the first of which is expected to have an aggregate face value of $84 million.
During the first year of the life of the Agreement, Private Trading Systems expects to process policies in trusts with a total minimum face value of $1.8 billion which could generate significant fees and commissions in excess of $20 million to the Company.
The Instruments being contemplated, when and if issued, will be dematerialized into electronic form under a separate cross-participation agreement that Private Trading Systems has with DeMatco, Inc. (OTCBBMAT) and its wholly owned UK subsidiary company DeMatco Limited. DeMatco will provide dematerialization services to Private Trading Systems and its clients under arrangements which complement the Company's straight through processing system allowing access to markets worldwide.
Mr. Austin Burrell, Chairman of Private Trading Systems, commenting on the development states, "This enhanced Agreement demonstrates growing confidence in our proprietary trading process. We are delighted that Admiral Asset Group has chosen to further strengthen its arrangements with us and I expect that this will become a profitable and growing association for both companies. Private Trading Systems' arrangements with DeMatco have also been revised permitting us to handle significant volumes of these and other financial instruments for both Admiral Asset Group and future customers."
About Private Trading Systems
Private Trading Systems, Inc. is developing turnkey exchanges for all types of assets to which a CINS/CUSIP number can be assigned or created. The Private Trading Systems platform is a quick, effective and proprietary venue for secure, clean and efficient electronic transaction processing. It is designed to preclude specific forms of trading of any security for which it provides exchange services. The intention of the Company is to offer an "exchange environment access" through a unique design of exchange services and proprietary integration of functions that is not currently available anywhere in the world."
Furthermore, the company has PR'd and completed several steps in uplisting to the AMEX exchange, tommorow I will be calling to gather more information on this.
In short though, they have completed all requirments for the AMEX exchange, and have already filed for application...this company could be huge IMO..
Here is a link to all past PR's before their RS and R/M:
O/S is approx. 42 million fully diluted
Tradeable Float: guesstimation of approx. 3 million