(Marketwire Via Acquire Media NewsEdge) FORT WAYNE, IN -- (Marketwired) -- 03/12/14 --
Advanced Content Services, Inc. (OTC: ADCS) announces today it has settled an additional $134,236.14 in liabilities for a total of $234,236.14 settled in Q1 2014. Additionally, company executives have agreed that there will be no increase in authorized shares of Common Stock for the foreseeable future as it continues work to strengthen fundamentals together with acquisition initiatives. Preferred Shares and with potential combination of cash will be used to consummate prospective acquisitions in addition to the initiation of potential Joint-Ventures.
Furthermore, the Company's Board of Directors has elected to appoint Thomas Wolff as CEO of the Company; the appointment will be formalized within the week. Mr. Wolff has received certification in International Trade and Finance and has a strong background in wholesale purchasing and sales, import-export, and consulting for companies worldwide across a diverse base of industry sectors.
Mr. Wolff's primary concentrations, in addition to the overall general directive to increase shareholder value, will be to seek out and close attractive joint ventures and operate the impending acquisition target in pre-paid and specialized payment solutions.
In addition to the recently announced negotiations with a Payment Solutions and Merchant Services holding company, Company executives have received interest from a merchant services company with capabilities extending to high-risk markets such as adult entertainment, online pharmacies, online casino/gaming, travel, replica, online dating and marijuana industries.
Forward-Looking Statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.
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Source: Advanced Content Services, Inc.