Acies Corporation CEO
Comments on Current Operations and Future Outlook in Interview
on World Talk Radio Network
NEW YORK, December 09, 2004 (PRIMEZONE) - Acies Corporation
(OTCBB:ACIE) CEO Oleg Firer, in an interview broadcast over
World Talk Radio Network, today said Acies is one of the fastest
growing providers of payment processing services. He said the
success of similar companies, such as iPayment Technologies
(Nasdaq:IPMT), has proven that there is an opportunity that
exists in servicing small to medium size businesses that
typically have been overlooked by larger payment processors. The
interview, conducted by research analyst Francis Gaskins of
IPOdesktop.com, is available for review at
http://www.worldtalkradio.com/archive.asp?aid=3006.
Headquartered on Wall Street, directly across the street from
the New York Stock Exchange, Acies has strong working
relationships with JPMorgan Chase and FirstData. Currently,
Firer said, most of Acies' customers are small to medium size
businesses primarily in the New York metropolitan area. "The
merchants we currently serve process on average $12,000 a month
in credit card transactions, and have an average transaction
value of approximately $45 per transaction," Firer explained.
"We believe that there is an opportunity to organically grow
Acies' business by further penetrating the small and medium size
business market through existing and new relationships with
Independent Sales Organizations," Firer continued. "We also
intend to focus our efforts in this regard on merchants that are
newly established, merchants that operate in niche ethnic
markets or merchants whose businesses involve industry specific
solutions that have been underserved by Acies' competition. To
complement our organic growth, we also intend to explore growth
through acquisitions of merchant portfolios."
The company plans to further enhance its position as a rapidly
growing provider of payment processing services by expanding its
merchant base, enhancing and expanding relationships with its
independent agents as well as identifying suitable acquisition
targets. "In order for Acies to successfully execute on its
acquisition growth strategy and continue to deliver high revenue
organic growth quarter over quarter, we are currently exploring
various financing options," Firer concluded.
Further information on Acies Corporation is available at
http://www.aciesinc.com/.
Forward-looking Statements
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains or may contain
forward-looking statements such as statements regarding the
Company's growth and profitability, growth strategy, liquidity
and access to public markets, operating expense reduction, and
trends in the industry in which the Company operates. The
forward-looking statements contained in this press release are
also subject to other risks and uncertainties, including those
more fully described in the Company's filings with the
Securities and Exchange Commission. The Company assumes no
obligation to update these forward-looking statements to reflect
actual results, changes in risks, uncertainties or assumptions
underlying or affecting such statements, or for prospective
events that may have a retroactive effect.
SOURCE: Acies Corporation
Acies Corporation
Oleg Firer, President & CEO
(212) 931-5177
oleg@aciesinc.com
