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Pacific Financial Lending Signs Largest Client to Date and Commences Collections(PrimeNewswire Via Thomson Dialog NewsEdge) SALT LAKE CITY, July 2, 2007 (PRIME NEWSWIRE) -- Pacific Financial Solutions, Inc. (Pink Sheets:PFUO), a leader in providing cashless ATM kiosks, Point-of-Banking (PBT) terminal technology, Alternative Financial Lending, and Collections Services, announced today the signing of their largest client to date and the commencement of testing on their bad debt portfolio. Pacific has been increasing both clients and revenues in its Lending division's collections department and with the addition of this largest client to date, a client with over $90,000,000 per year in gross revenues and up to $20,000,000 per year in bad debt and collections, this client will significantly increase revenues for Pacific Financial Lending. Bruce Grogg, CEO of PFUO commented, "we have been working on contracting with this client for nearly 6 months, and with the recent upgrades to our systems, the addition of more space and additional personnel, we were finally able to accommodate the special needs that a client of this magnitude requires." Mr. Grogg went on to say, "We commenced testing this week and by week's end were already exceeding both the client's and our own expectations in our collections activities." With the addition of this new client, PFL's divisional revenues are expected to increase by an estimated $500,000 in 2007. PFUO remains on track to reach its revenue goals for 2007. About Pacific Financial (www.PFUO.com) Pacific Financial Solutions, Inc. is a premier global distributor of financial services and products providing its customers with a wide array of prepaid stored-value and kiosk enabling devices. Pacific is comprised of fully integrated divisions: Pacific Banking Services (Point-of-Banking terminals) and Pacific Card Services. Pacific is a location services provider (LSP) for national and regional retail merchants. Pacific's continued success is driven by corporate sales, ISO's sales, Affinity sales as well as mergers & acquisitions. Pacific's global strategy centers on deploying both single and multi-use debit banking products and services along with stored-value debit card services worldwide. 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: Pacific Financial Solutions, Inc. Barbara Thomas [email protected] Copyright 2007 PrimeNewswire, Inc. |