MUTUAL MERCHANT SERVICES INC
MUTUAL MERCHANT SERVICES INC ("MUTM-0")
- Acquisition
Mutual Merchant Services (fka Sage Global Solutions, Inc.) to-day
announced that it has acquired 1st Federal Financial, Inc. as a wholly
owned subsidiary. As part of this transaction the former management
resigned and appointed T. A. Gillis as Director and President of MUTM.
Mr. Gillis has moved quickly to implement a 1:400 reverse stock split
of the common stock of the Company and secure funding of up to $2,000,000
to launch the Company's marketing plan.
MUTM (
www.mutualmerchantservices.com
) is a single source provider of
financial services, offering a variety of products and services to
merchants, financial institutions, and banks. Services offered include
credit and debit card acceptance, check guarantee, check verification,
check conversion, check 21, advance funding, ACH check processing, prepaid
and bill pay services. MUTM also provides point of sale software, hardware,
and e-commerce products.
Mr. Gillis is considered an icon in the credit card processing
industry. With over 30 years of experience, he is one of the pioneers of
moving credit card processing into the electronic age.
Forward-Looking Statements
This press release contains certain forward-looking statements, which
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Expressions of future goals and similar
expressions reflecting something other than historical fact are intended to
identify forward-looking statements, but are not the exclusive means of
identifying such statements. These forward-looking statements involve a
number of risks and uncertainties that could cause actual results to differ
materially from those currently anticipated. Factors that could cause or
contribute to such differences include, but are not limited to, market
acceptance of products and technologies, competitive factors, and the
Company's ability to continue to secure sources of financing. The Company
undertakes no obligations to revise or update any forward-looking
statements in order to reflect events or circumstances that may arise after
the date of this press release.
