BOCA RATON, Fla., June 15, 2011 /PRNewswire/ -- PMX Gold, LLC ("PMX Gold"), a wholly-owned subsidiary of PMX Communities, Inc. (OTCBB: PMXO) (the "Company" or "PMXO"), released an update today regarding their development of the world's first Gold ATM. The PMX Gold ATM Terminal is designed to integrate seamlessly with the International Banking System and conduct both conventional ATM transactions and a wide array of Gold Banking functions, including the ability to both dispense and accept for deposit gold, silver and platinum bars.
In a related development PMXO confirmed that a new Gold Banking Services Division is being formed to capitalize on the emergence of gold as a parallel currency.
Test Marketing Results, Project Schedule
"Our reason for conducting the gold bullion vending machine test marketing completed earlier this year was to determine acceptance by the American public of acquiring gold bullion from an unmanned terminal. Despite the numerous operational limitations of our first-to-market, cash-only imported unit, the results were overwhelmingly positive as evidenced by the nearly $270,000.00 in gold sales through one machine in roughly two and one half months," said Michael Hiler, PMXO's President and CEO.
"PMX has resolved infrastructure issues as we evaluated proposals and technology from entities such as Zoom Systems (developer of the IPOD and Best Buy Vending Machines), banking giant Wincor Nixdorf as well as one of the leading suppliers of leveraged gold trading platforms. The company expects to release news during the coming weeks on several pending developments including initial supplier and technology partners, potential intellectual property acquisitions and a prototype production and roll out schedule."
PMX Gold ATM Terminal: State of the Art Gold Banking
"The PMX Gold ATM Terminal is not a vending machine, but an actual ATM that allows customers to make conventional ATM transactions with their banking institution and also to conduct a wide array of precious metals based transactions," continued Hiler. "By offering traditional ATM banking transactions through our Terminals and placing the Terminals at select high-traffic locations we will be able to profile our gold banking services directly to the ATM user and the general public."
The company anticipates the PMX Gold ATM Terminal will enable our customers to undertake the following types of transactions:
- Purchase Gold Bullion or other precious metals using all major credit/debit cards.
- Deposit or withdraw certified serialized 999.9 Fine Suisse Gold, Silver and Platinum Bars directly to/from our ATM's.
- Use the equity in your gold account for dollar-based transactions via a PMX Gold Card accepted at ATM's and financial institutions worldwide.
- Conduct gold transfers with individuals and institutions as an alternative to currency-based transactions.
- Access Exchange contracts and other financial instruments to offset market risk or conduct leveraged metals and Forex trades.
Note: Certain aspects of our proposed PMX Gold Banking Services may be subject to limitation by state and federal laws and regulations.
About PMXO and PMX Gold
PMX Communities, Inc. (PMXO), through its wholly owned subsidiary, PMX Gold, is currently developing the world's first PCI compliant PMX Gold ATM Terminal designed to integrate seamlessly with the International Banking System to capitalize on the emergence of gold as a parallel currency. Further information about the Company can be obtained at our website, http://www.pmxgold.com which provides a link to the Company's public filings with the SEC located at www.sec.gov . Certain Company information is also available through Standard and Poor's.
Certain statements made by the Company and its management on its behalf in this release and other periodic, oral and written statements, regarding the Company operating performance, events or developments that the Company believes or expects to occur in the future, including those that discuss anticipated financial results, strategies, goals, outlook or other non-historical matters, or which relate to future sales, earnings, expectations, growth of the Company or of the market for its products and services, or general belief in the Company's expectations of future operating results are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements are subject to risks and uncertainties, including but not limited to product demand, market and customer acceptance, competition, pricing, working capital considerations, and as otherwise discussed in the Company' s SEC filings. Such forward-looking statements are subject to change at any time, and the Company's actual results may differ materially from anticipated results. The Company undertakes no obligation to update or revise any of such statements to reflect subsequent events or circumstances.
SOURCE PMX Gold, LLC