JACKSONVILLE, Fla., March 3, 2011 /PRNewswire/ -- FNDS3000 Corp (OTCQB: FDTC), an international prepaid processing company currently introducing electronic payment solutions to the South African market, today commented on the change in the Company's stock quotation coverage which previously reflected trading on both the OTC Bulletin Board and the OTCQB under the symbol "FDTC," but now is reflected only on the OTCQB. The change in coverage to strictly the OTCQB trading platform was caused by the migration of the Company's market makers away from the OTCBB, and does not affect, nor is it a reflection upon, FNDS3000's business, operations or growth prospects.
The OTCQB is one of three tiers established by OTC Markets Group, Inc., which operates one of the world's largest electronic interdealer quotation systems for broker-dealers to trade securities not listed on a national exchange. The OTCQB designation is meant to identify companies that are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations.
Joe McGuire Chief Financial Officer of FNDS3000, stated, "We have learned that there is no technical difference between an OTCBB listed security and a fully reporting issuer trading on the OTCQB. Therefore, until such time as our Company elects to pursue a listing on a major exchange, our common stock will be quoted on the OTCQB, which can be viewed at www.otcmarkets.com."
About FNDS3000 Corp
Headquartered in the U.S. with operations in South Africa, FNDS3000 Corp is engaged in executing a series of international growth initiatives designed to position the Company as a major player in the world's fastest growing payment card segment: prepaid cards. Given that 40% of the adult population in South Africa is currently unbanked or underbanked, FNDS3000's initial focus has concentrated on offering tailored prepaid card programs and services to business customers in this developing prepaid market, including network branded and closed loop programs that support employee payroll, insurance, medical aid, gift cards, prepaid cellular charges and small-scale international transfer of funds. The Company provides these programs and services through a proven, proprietary U.S. processing platform that has been designed for international and cross border capability. For more information, please visit www.FNDS3000.com, or follow us on Twitter @_FNDS3000.
Forward Looking Statements
Matters discussed in this press release contain forward looking statements. Investors are cautioned that such forward looking statements involve risk and uncertainties, which could significantly impact the actual results, performance, or achievements of the Company. Such risks and uncertainties include, but are not limited to, the potential loss of our relationships with each of the parties that sponsor our cards and banks that manufacture, issue, and own the cards; the loss of our service providers; security breaches of our electronic information; the inability to raise sufficient capital to fund its operations; and other risks as may be detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise its forward looking statements even if experience or future events make it clear that any of the projected results expressed or implied herein will not be realized.
SOURCE FNDS3000 Corp