[September 15, 2004] SVC Financial Reports Fiscal 2003 Results; Completes Major Step SAN FRANCISCO --(Business Wire)-- Sept. 15, 2004 -- SVC Financial Services, Inc. (OTC: SVCX), an emerging provider of secure electronic payment and digital rights management (DRM) solutions for online retailers and financial services companies, today completed a major step in its launch as it reported results for the company's Fiscal 2003, ended September 30, 2003. "Today's filing of our 2003 10KSB represents a significant step towards SVC Financial becoming a current fully reporting company and in the emergence of SVC Financial as one of the nation's most advanced providers of secure digital rights management and transaction management," said Christopher Haigh, President and CEO of SVC Financial. "Over the next two to three weeks we will file all outstanding Q's, our goal being that we will be current in all reporting by the middle of October. Simultaneously we will also announce a number of customer wins, partnerships and revenue-generating agreements with a range of enterprises in financial services, media and entertainment and the nonprofit sector." SVC resulted from a 2003 transaction in which Secure Sign (OTC: SCSN - News) formerly "SECU," a Colorado corporation, entered into a share exchange agreement to acquire Pocketpass.com, Inc. (Pocketpass), a California corporation, in a reverse acquisition. The combined company was renamed SVC Financial emerged from the transaction with existing specialization in cash- and web-based micro-payment systems and pre-paid stored-value cards. The company has a number of proprietary and patent-pending Internet technologies that enable anonymous online shopping without a credit card; profitable, inexpensive and easy to use micro-payments for physical and digital property; and seller-selected online cash payment rules. While SVC has been completing the steps associated with its new launch, the Company has also been achieving a number of business milestones. In the first half of 2004, SVC Financial: -0- *T 1 Launched SVC Financial's operations after the completion of its acquisition of Pocketpass.com, Inc. SVC emerged as a provider of solutions for secure electronic payments, web application development, digital rights management and multimedia authoring primarily for online retailers, entertainment companies and financial services firms. SVC provides its corporate customers micropayment systems, credit card payment processing, and digital asset bundling and promotion. 2 Unveiled the Mazarin Media Platform, which rapidly delivers 'smart' applications for virtually any size organization and individuals. The platform integrates SVC's Media Forge application generator (which has 30 million runtime licenses in use), its stored value card and its SVC Payment Gateway. The Mazarin Media Platform also incorporates SVC's unique anti-fraud barricade, a powerful tool for watermarking music and movies, and encryption plugins that react dynamically to new hacking threats. 3 Opened its corporate headquarters in the Financial District of San Francisco. The office was SVC's third, joining its Enterprise Business Development and Technology R&D office in San Jose, CA. and its Media and Entertainment Business Development office in El Segundo, CA. 4 Completed a strategic marketing alliance with Command Technology, one of Europe's leading providers of products and services to automate and monitor corporate marketing processes. The partnership offers European financial services, entertainment and media companies scalable rich media application generator software, SVC Payment Services, robust Digital Rights Management and a powerful mobile commerce application solution. 5 Signed an Original Equipment Manufacturing alliance with Verimatrix, a provider of high-end security for video-on-demand and protection of digital creations. The agreement expanded Verimatrix's role as an authorized reseller of SVC products and services. 6 Announced its intention of acquiring of XMLAuthor, Inc., a privately held software development company with headquarters in Draper, Utah and Phoenix, Arizona. XMLAuthor is the provider of MediaForge, a mature authoring tool for building Multimedia applications, both stand-alone and Internet based. 7 Signed an agreement with Live Action Digital to serve as an SVC media provider partner to support creation and delivery of 3D animation and high-end media and content. 8 Signed an agreement with the Alliance Group International to be an SVC Solution Provider Partner to support SVC customers requiring outbound marketing and email campaigns. 9 Added to its senior management ranks: Chris Sorenson as Vice President of Operations; Bradford C. Auerbach as Head of Media Business Development; and Bob Mack Peak as Vice President of Sales and Business Development. *T About SVC Financial Services SVC Financial Services (OTC: SVCX) is a provider of an integrated suite of secure electronic payment, web application development, digital rights management and multimedia authoring solutions with a focus on the online retailing and entertainment industries as well as the companies that serve them. SVC provides a highly secure and reputable private-label service for retailers and financial services. The combination of Digital Rights Management with SVC Payment Services in the company's Mazarin Media Platform serves a broad range of merchant and consumer needs such as a profitable and easy-to-use micropayment system, credit card payment processing, and digital asset bundling and promotion. More information about the Company may be obtained at www.svcfinancial.com. Safe Harbor Statement Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies. [ Back To TMCnet.com's Homepage ]