Tuesday, November 21, 2006 2:47:59 PM
"Fort Lauderdale FL, August 23 , 2005 (BUSINESS WIRE) - Cash Now Corp (Pink Sheets: CHNW) announced today that is signed a distribution Contractual Agreement with Affordable Telecom Asian Unit and has granted Affordable Telecommunications Technology Corp the International licensing rights from Cash Now for all of Asia. This includes China down through Indonesia and the Pacific Islands.
Affordable Telecom will now seek governmental licensing in South East Asian countries for Cash Now -- ATM services as well as opening franchises in the region. The potential revenue for 100 stores and 300 ATMs in Asia has a potential to generate $31,000,000 annually. This is the goal for the first fiscal year of the Asian exclusive license.
To increase Cash Now's market penetration in Australia, New Zealand, and the Pacific Islands, Affordable Telecom has also agreed to provide Alternative Merchant Facilities operating over their VPN. This is a key facility for increasing merchant transactions among smaller retail outlets."
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