Cash Now Announces Plans To Launch A Test Forex Site
Friday February 2, 6:00 am ET
LAS VEGAS, Feb. 2 /PRNewswire-FirstCall/ - Cash Now Corporation (CHNW.PK) www.cashnow.com (Cash Now) Cash Now, is a public company engaged in the design, manufacture, marketing and distribution of customized Internet based payday loan and check cashing software and private label back end office systems, and in the developmental stage of a FOREX Introducing Broker (IB) platform, today announced that it plans to launch a test site (BETA) for the FOREX IB product range by February 28, 2007. The company has set a self-imposed deadline of early second quarter (Q2) to launch the fully functional FOREX site, and start generating revenues. The company plans on releasing the test url to qualified beta testers. The company has also indicated its desire to share the test url in the soon to be launched Virtual Town Hall. "Functionality, and user friendly features are paramount to any online type service providers and Cash Now is no different," added Mr. Richard Sciacchetano, Cash Now's advisor and project manager of the Forex product.
ADVERTISEMENT
The company sees this as an opportunity to not only enhance the product's look, functionality and feel but also as an interactive way to kickstart the FOREX launch. The company confirms that Kevin Price, Cash Now's previous CEO, has started the process of obtaining and filing the necessary documentation to obtain clearances and approvals from the FOREX regulatory agencies to enable Cash Now towards becoming a full service FOREX trader. Mr. Price, who was employed in the past with other investment brokerage agencies, was a natural fit for the new FOREX trade position with Cash Now.
In other company news, the company has began migrating and reprogramming the Trust Vault payday advance back office that runs the Cash Now sub prime. Mr. Garr Winters, Cash Now's CEO said, "This is a delicate process as the Cash Now site is filled with many interactive landing pages. We are being extra careful in so far as making sure no compromises are made and that the FOREX addition does not disrupt our now existing core business and sales. The first quarter of 2007 is shaping out to be quite promising for our license sale division. Cash Now does not issue revenue guidance; however, this is something that we may also revisit in the near future, as the company thrives towards becoming more and more transparent to its shareholders."
Cash Now Background
Cash Now Corporation, a pioneer in the payday loan industry, is developing the most comprehensive menu of services in the cash advance industry, all centered on the Internet model. The company's proven business model includes licensing to corporately operate locations across the U.S., Canada, and Australia. Additionally, Cash Now's Web site is the most advanced payday-lending portal, offering key insight to clients and potential clients alike. Cash Now offers a payday loan license program, Payday Express; and a payday loan and check cashing license known as Check Express, and the industry first real time booking engine.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Cash Now's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Cash Now's periodic reports filed with the regulatory authorities.
--------------------------------------------------------------------------------
Source: Cash Now Corporation
