vic - of course it is...but it is an Update that tells us that the company is on-track and they're progressing toward the previously stated goals. Here's the total update below.
Briar
"Company Update - July 24, 2007 - 10:30 AM EST
Paivis Corp. Provides Report on Corporate Developments
Paivis Corp. (OTCBB: PAVC) today provides a report on its recent corporate developments and ongoing strategic objectives.
Management looks forward to pursuing its corporate and operational goals for the benefit of the Corporation its shareholders. The Company has made solid progress on its business initiatives, including the following:
-- Paivis's products are currently available at 5,500 locations
nationwide, an increase of 1,500 since January 2007. The Company is looking
to continue expansion of the Company's distribution channels by rolling out
products to a total of 25,000 locations by the end of 2008 through our
distribution agreement with a major retail distributor of prepaid products
and services in the U.S.
-- The Company is in the final stages of implementing the previously
announced technology infrastructure enhancement with a long time customer
which will increase its product distribution from 5,500 to 7,500 locations.
-- The Company also wishes to inform its shareholders we have confirmed
the roll out of additional stores from part of the 25,000 described above.
We anticipate this roll out to happen within the next quarter and will add
up to another 2,500 stores to our present total. This rollout, when
complete, will contribute 50% to our core product revenue stream.
-- Launch of our new "Live" card products line is on schedule for the
previously announced fall roll out. We expect this line to add a minimum of
$6,000,000 in annual revenue.
-- The Company has made significant progress with our acquisition targets
and look forward to providing more information to our shareholders shortly.
Gregory L. Bauer, CEO of Paivis, said: "We are pleased to share our corporate progress with our shareholders and we will continue to be diligent on executing on our strategic goals. Also, we look forward to taking advantage of other opportunities that can fuel growth and ultimately increase shareholder value such as additional acquisitions and being open minded towards merging with or being bought by other companies."