Safe Communications, Inc. Completes Acquisition of Control of Northsight Capital, Inc.
Date : 06/02/2011 @ 8:00AM
Source : PR Newswire
Stock : Suggestion Box (PL) (SGTB)
Quote : 0.6 0.0 (0.00%) @ 6:34AM
Today : Thursday 2 June 2011
SAFE COMMUNICATIONS, INC., (Pink Sheets: SGTB) ("Safe") announced today that the company has completed its acquisition of Northsight Capital, Inc., a fully reporting OTCBB shell company ("NCAP") (OTC Bulletin Board: NCAP). John P. Venners, President of Safe, was appointed interim President and a director of NCAP.
Safe currently intends to cause NCAP to complete a reverse merger with SAFE's newly formed corporate security division, NCAP Security Systems, Inc. Once this transaction is consummated, as presently planned, Safe would retain an approximate 88% equity interest in NCAP, post merger. Under this plan, Safe would spin off of a major part of the post merger NCAP to shareholders of Safe as of a future record date (one share of NCAP for every two shares of Safe). Completion of any transaction involving NCAP would be subject to customary conditions, including board approvals.
The new division, which uses the "MaskMail" anonymous reporting technology (www.MaskMail.com), headed up by international security expert, Chuck Vance. Mr. Vance is also on Safe Communications' Child Cyber Safety Advisory Board. It is contemplated that that new "MaskMail" website will be launched in the very near future.
MaskMail will employ the company's anonymous reporting system to enable its customers to receive anonymous reports of theft and other wrongdoing. A recent National Retail Security Survey showed total retail losses cost businesses $33.5 billion last year. According to the survey, the largest percentage of retail shrinkage last year was due to employee theft, at $14.4 billion, accounting for 43 percent of total losses. In its 2010 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) said that corporate fraud cost the global economy more than $2.9 trillion in 2009. ACFE surveyed fraud examiners in 106 countries examining 1,843 cases of fraud to reach its conclusions.
EMPLOYEE THEFT A GROWING PROBLEM:
The FBI calls employee theft "the fastest growing crime in America!"
The U.S. Chamber of Commerce estimates that 75% of employees steal from the workplace and that most do so repeatedly.
One third of all U.S. corporate bankruptcies are directly caused by employee theft.
The American Society of Employers estimates that 20% of every dollar earned by a U.S. company is lost to employee theft.
The anonymous reporting system allows subscribers to set up anonymous emails for their employees and for customers to report wrongdoing at the workplace or bad service at their stores. Using its anonymous email capability, considered an advanced anonymous reporting technology, the system gives business owners the ability to set up an email template, address it to themselves or other management personnel, and allow workers to send that email to the management anonymously. The new division's SMS (Short Message Service) system and its anonymous chat rooms afford law enforcement agencies the capability to correspond back and forth with citizens willing to pass on information as long as they are guaranteed anonymity. The anonymous chat rooms allow persons to sign in to a chat with law enforcement or corporate representatives, while remaining completely anonymous.
About Safe Communications:Safe Communications, Inc. provides open and secure family communications that are in step with today's advances in social media. While protecting our most precious asset, our children, our systems are designed to enhance the quality and frequency of day-to-day communications among family members. We allow users to experience the marvel of advanced technology without fear or danger.
Safe Communications' products, led by MouseMail.com, are designed for the modern family on the go. Early detection devices warn parents of potential abuse and inappropriate content, allowing secure, open exchange with loved ones and friends. Just as your child is not allowed to enjoy a ride in the car without a seat belt, Safe Communications designs products so that your children can enjoy the electronic ride without being exposed to potential harm or abuse. For more information, contact: info@safecommunications.com or visit us online at www.mousemail.com.
Cautionary Statement regarding Forward Looking Statements Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements include statements (i) containing a projection of revenues, income (including income loss), earnings (including earnings loss) per share, capital expenditures, dividends, capital structure, or other financial items and (ii) concerning the plans and objectives of management for future operations, including plans or objectives relating to transactions and the products or services of the Company. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including but not limited to the following factors: the Company or NCAP's ability to secure regulatory clearance for the transaction structure ultimately approved by its board of directors, the Company's ability secure a substantial number of registrants for its MouseMail.com website, the successful launch of the Company's MaskMail.com website, the Company's ability to generate cash flow from its operations, and the Company's ability to secure sufficient funding to continue its operations and effect the intended transactions involving NCAP. Such forward looking statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and those actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information or otherwise.
SOURCE Safe Communications, Inc.
