Q Comm International Announces Private Placement
Orem, UT – April 3, 2007 – Q Comm International, Inc. (QMMI.PK), a provider of prepaid transaction processing and electronic point-of-sale (POS) distribution solutions, today announced the completion of a private placement of 3,703,704 restricted shares of its common stock (the “Shares”) at a price of $0.135 per Share to existing accredited shareholders. The private placement generated aggregate gross proceeds of $500,000. Including the 3,703,704 shares the Q Comm International has 26,941,248 total shares of its common stock outstanding. No registration rights were offered in connection with this private placement.
Michael Keough, the company’s President and CEO commented, “Our largest shareholders continue to show confidence in our future and this additional funding will contribute to our 2007 growth plans.”
ABOUT Q COMM INTERNATIONAL:
Q Comm International is a prepaid transaction processor that electronically distributes prepaid products from service providers to the point of sale. Q Comm offers proprietary prepaid transaction processing platforms, support of various point-of-sale (POS) terminals, product management, merchandising, customer support and engineering. Q Comm systems replace traditional hard cards (also known as scratch cards or vouchers) that are costly to distribute, and provide more comprehensive reporting and inventory management among other benefits. Q Comm’s solutions are currently used by wireless carriers, telecom distributors, and various retailers to sell a wide range of prepaid products and services including prepaid wireless, prepaid phone cards, prepaid dial tone and prepaid debit cards, such as prepaid MasterCard and Visa. Visit http://www.qcomm.com for more information.
Contact Information:
Mark Robinson
(801) 617-1600
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological, and other factors identified in the Company's filings with the Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2004, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. |
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