Paystar Corporation (fka PYST)

[treepeople]

News -

PayStar Terminates Processing of Equity Financing Line

2005-10-14 17:23 ET - News Release

LODI, Calif., Oct. 14, 2005 (PRIMEZONE) -- PayStar Corporation (Pink Sheets:PYST) announces that it has cancelled its pending $5 million equity line from Cornell Capital Funding. The Equity Line with its Credit terms and conditions were deemed to be unacceptable at this time and the Agreement has been cancelled.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to" "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

CONTACT: PayStar Corporation
B. Thomas
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