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MoneyFlow Subsidiary Sells Debit Terminal (POS) Business

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MONEYFLOW SYSTEMS INTERNATIONAL INC.; -- Hal Schultz, President of MoneyFlow Systems International Inc. ("MoneyFlow"), reports that its subsidiary, Intercash POS Systems, has completed the sale of the majority of its debit terminal portfolio, commonly referred to as Point of Sale ("POS") terminals within the industry. The company has recently been refocusing its business direction and preparing for a greater concentration within its core business areas including the installation, maintenance and management of ATMs and the promotion of its remote access digital video surveillance systems.

Mr. Schultz stated, "The POS business was the least profitable of our operations and required the most operating maintenance. The Cdn$258,421.70 cash realized from the sale will enable us to deploy development capital in our pursuit of higher growth, higher margin opportunities and to better enable us to build on our core ATM and Remote Access Digital Surveillance businesses."

Under the terms of the transaction, Intercash sold 225 terminal locations to POS West, representing the bulk of the POS operations. A holdback of Cdn $10,185.60 until Intercash confirms the status of certain accounts. This process has virtually been completed. Notwithstanding the sale of the majority of its POS business, Intercash will continue to operate certain of the wireless POS terminals located at corporate sites as these did not form part of the sale.

MoneyFlow Systems International Inc., a Nevada corporation, is in the business of providing electronic financial transaction products and services through its wholly owned Canadian subsidiaries, Security Bancorp Inc., (SBI) and employs CA$H STATION® as its registered trademark. The company's business is to supply, install, maintain and manage electronic funds transfer (EFT) terminals, (e.g. Automated Teller Machines (ATMs), to facilitate the convenient dispensing of cash and other services to merchants and consumers. In addition, the Company provides remote access digital video surveillance systems to homes, business, industry and government facilities. MoneyFlow has developed its "Remote Access Digital Video Recorder", which it manufactures and sells as the heart of its surveillance systems. Users of the surveillance systems may view their location live, anytime from anywhere there is Internet access.

Cautionary Statement: This news release may include certain "Forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act, as amended. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve various 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. All forward-looking statements in this release are expressly qualified by this notice.


Distributed by Filing Services Canada and retransmitted by Market Wire



 
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Updated: 2:59 PDT     402

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