InvestorsHub Logo
Followers 431
Posts 51647
Boards Moderated 0
Alias Born 05/03/2000

Re: None

Wednesday, 01/15/2003 8:18:41 AM

Wednesday, January 15, 2003 8:18:41 AM

Post# of 49
at least they keep trying........

InstaPay Systems and Kryptosima Sign Stock for Stock Acquisition Agreement; InstaPay Systems to Acquire 100% of Kryptosima


SAN DIEGO--(BUSINESS WIRE)--Jan. 15, 2003--InstaPay Systems, Inc. (OTCBB:IPYS) announced today that it has signed an Agreement to Acquire 100% of Kryptosima LLC.

The acquisition of Kryptosima provides InstaPay the technology to launch its new plan for Internet payment transactions. Initially, InstaPay will market the technology to fund client's stock brokerage accounts. Kryptosima's technology is a unique, patent-pending platform, which is capable of providing secure payment transaction services for not only the on-line stock brokerage industry but the entire Internet eCommerce market. Acquiring Kryptosima expands InstaPay's market parameters beyond stock brokerages, to the entire eCommerce market. The acquisition should increase InstaPay's revenue and market share potential. eCommerce sales volume exceeded $50 Billion in 2001 and is forecasted by the Boston Consulting Group to have grown 41% in 2002. Kryptosima's technology should provide an opportunity to tap this rapidly growing market.

InstaPay and Kryptosima are in current discussions with stock brokerages, banks and ATM networks to coordinate and initiate the launch of Kryptosima's payENKRYPT system.

"We are very pleased with this transaction," stated Harry Hargens, President of Kryptosima. "The market opportunity for our services is very exciting, and the synergies in combining Kryptosima's technology and InstaPay's management and marketing resources should increase shareholder value."

About InstaPay Systems, Inc.:

InstaPay's focus is on the implementation of Internet payments via an ATM/Debit card from home or office, for transactions requiring a real-time guarantee of funds such as securities purchases. Once the online securities market is established the company intends to expand its horizons to the entire eCommerce market.

For additional information, see: www.instapaysystems.com

About Kryptosima:

Kryptosima was founded in January 2000 to develop new Internet payment methods. Kryptosima's founders all have 20 to 30 years experience developing and marketing services, software, and/or hardware for the US banking industry, with a focus on credit card processing, ATM-card processing, and home banking. payENKRYPT(TM) is Kryptosima's patent-pending service for online payments.

For additional information see: www.Kryptosima.com

Forward-Looking Statements:

Certain statements in this news release may constitute "forward looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward looking statements involve risk, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements.

CONTACT:

InstaPay

Robert Bragg, 858/847-0139

contact@instapaysystems.com

or

Kryptosima

Harry Hargens, 770/471-4944

harryhargens@kryptosima.com

or

Public Relations

Martin P. Kane, 323/876-6700

martinpkane@earthlink.net

SOURCE: InstaPay Systems, Inc.

Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com

01/15/2003 06:00 EASTERN


Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.