Owner of Bank Freedom States Sale or Merger of Bank Freedom In the Near Future Now Highly Unlikely
HENDERSON, Nev., Nov. 8, 2012 /PRNewswire/ -- PrepaYd, Inc. (OTC PINK: PPDC), which owns 100% of Bank Freedom, today announced that PrepaYd, Inc. had received unsolicited inquiries from qualified parties looking to buy versus build a prepaid debit card company and PrepaYd, Inc. was considering selling or merging Bank Freedom. However based on undisclosed events PrepaYd Inc. no longer believes a sale of Bank Freedom in the near future is likely.
About PrepaYd, Inc.
PrepaYd, Inc. is a provider of financial services in the prepaid debit card industry. The company, through its wholly owned subsidiary, offers prepaid debit cards to America's estimated 60 million underbanked citizens. In addition to the underbanked consumer demographic, small and mid-size businesses have found a much-needed product with the company's Prepaid Business Expense Card Program. With the diminishing credit card markets, companies need a new way to fund employees' expenses other than through traditional credit cards or cash reimbursements.
PrepaYd Inc. also owns PrepaYd Wireless, Inc. which provides the postpaid experience without the contract, and is a new leading provider for No Contract Wireless Service with Unlimited Plans starting at $35 per month. Since the company's official launch in December 2011, the company has expanded its distribution through independent retail locations and by offering service plans that include Nationwide Coverage in all 50 states and Puerto Rico and by including all sales, telecom and usage taxes. For more information about PrepaYd Wireless, Inc. visit www.PrepaYdWireless.com.
FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties and the company assumes no obligation to update any of the forward-looking statements in this release.
For more information about PrepaYd, Inc. visit www.PrepaYdInc.com.
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SOURCE PrepaYd, Inc.