Turning Pennies into dollars: (Pinksheets: SMKG), (OTCBB:BHWF), (OTCBB:SORD)
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Feb 26, 2008 -- SmartCard Marketing Systems Inc. (Pink Sheets: SMKG) announced Tuesday the signing of a significant agreement with Payment Data Systems (OTC Bulletin Board: PYDS) and HomeATM Payments to extend merchant acquiring services through the breakthrough HomeATM technology that Velocitymoney.com incorporates in its financial offering to consumers and merchants. SMKG President Bruce Baillio said, "The HomeATM is an important addition to our VelocityMoney.com payment platform. VelocityMoney.com is positioning itself to be the new standard in online wallets, money transfer and payment processing platforms. We want to be faster, less costly and give more value than the other online pay sites or Money Service businesses with the unique card present services of PIN Debit and Credit Card which has never been possible prior for such a low cost.
The original HomeATM device is a patented online payment solution for individuals and merchants. It uses the most comprehensive authenticity and verification technology available. VelocityMoney.com has seamlessly integrated this device into its payment platform, so anyone can securely and instantly move money from a debit or check card into their VelocityMoney.com online wallet for further usage.
Mitchell Cobrin, HomeATM's COO stated, "We are pleased to add standard credit card merchant services to our one-of-a-kind Debit processing technology. Although no other service provides online merchants our unique benefits of no reserves, guaranteed instant funds, no delays in funding and low price, the additional capability that this agreement brings gives our customers the complete range of card payment options, expanding our reach to brick-and-mortar merchants as well as online merchants." As Mitchell likes to say, "Imagine being able to transfer money ANY time, ANY where. That is what VelocityMoney.com and the HomeATM have accomplished."
SMKG CEO Massimo Barone stated, "We believe strongly that this will lead to immediate results in new merchant orders as well as orders from Merchant's switching over from traditional Point of Sale terminals that are more costly to maintain and operate and this does not include the direct benefit made to businesses on the go that desperately require payment solutions for their businesses on the go."
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Feb 26, 2008 -- The Blackhawk Fund (OTC Bulletin Board: BHWF), is pleased to announce the reduction of 1 Billion authorized shares of The Company's common stock. In an effort to deliver shareholder appreciation, The Board of Directors unanimously voted in favor of reducing The Company's authorized shares from 4 Billion to 3 Billion shares. Out of the remaining authorized common shares, The Company's majority shareholder controls the equivalent of 2 Billion shares as Preferred B stock, which are affiliate restricted shares that cannot be sold into the market. This leaves less than 1 Billion common shares authorized that, if issued, can actually trade in the market.
The Company will take further steps to consider the reduction of Preferred B shares, which will be necessary for additional reductions of The Company's authorized common stock. The Company has taken these steps to recapitalize The Company in a manner that will yield price appreciation as The Company's business grows. The Blackhawk Fund has recently announced the launch of a nationwide radio program that should provide additional revenue to The Company in proportion to the increased coverage that has been contracted through the radio program.
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Feb 26, 2008 -- Southridge Enterprises, Inc. (OTC Bulletin Board: SORD) (the "Company") announced that the Company had a ground breaking ceremony today on a new ethanol manufacturing plant in El Salvador. Announced in Dec. 2007, the new plant will have an expected maximum annual capacity of 20 million gallons per year.
Today's groundbreaking puts Southridge on track to complete plant construction by early 2009. The company further stated that it expects to begin construction, which should take approximately 12 months, within the next thirty days.
First phase will have the capacity to dry up to 15MMGY of hydrous ethanol to be imported into the United States. The second phase would be to build the plant capable of producing 5MMGY of ethanol using sugar cane as feedstock. Having the capability to use feedstock grown and cut straight on land owned by the Company will give it a huge advantage. Bagasse, the fibrous material that remains from sugar cane, will be burned as fuel and cut down our energy costs by 60%. Lower energy and feedstock costs will bring our profits to record highs in the industry. CEO, Ken Milken commented, "This groundbreaking represents an important step in our mission to accelerate the commercial adoption of renewable energy such as ethanol."
Southridge plans to export ethanol from Brazil and import it into the United States via its facility in El Salvador where the company can take advantage of the Caribbean Basins Initiative (CBI), a trade agreement signed in 2000 that allows Caribbean and Central American countries to export ethanol into the United States duty-free.
The new site in El Salvador is located in close proximity to a river making it easily accessible to transport product to an ocean local port for transport to the United States. The site has 25,000 mz (approx. 4,500 acres) of land and access to abundant sugar cane production capacity. With an average yield of 30 to 40 tons per acre grown on site, the location will be more than capable of supplying the 5 million gallon per year production plant.
Southridge is very encouraged by this strategic new facility in El Salvador as it will allow the Company to become one of the lowest cost producers in the industry through the benefits of export incentives and supply of its own raw materials. This comparative advantage of vertical integration and production diversification will act as a hedge against rising costs and will ensure the stability of future production levels.
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