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Financial Access Solutions Technology Reports Unsolicited Purchase Offer for 100% of FLST Common Stock
MONTREAL -- (MARKET WIRE) -- 03/31/06 -- Financial Access Solutions Technology (OTC: FLST) today announced that Joseph Gammerieri, President of Puma Access Inc., from Florida, has forwarded an offer to purchase 100% of the common stock of FLST at a price of $0.10 per share for a total purchase offer of USD $9.1M in an all cash transaction.
This offer was unsolicited by FLST or any of its affiliates. FLST Officers have acknowledged the purchase offer formerly and will be seeking shareholder approval. The Officers of FLST and its board of directors recommend the acceptance of the purchase offer, which represents a significant premium to the current and recent trading levels.
About Financial Access Solutions Technology Inc.
Financial Access Solutions Technology Inc. (OTC: FLST), a technology provider, specializing in point-of-sale, cash and treasury, card products, and transactional software solutions for North American merchants. The company operates a wholly owned subsidiary named DM2 Technology, and markets the latest in point-of-sale (POS) terminals and software allowing merchants to efficiently process Debit and Credit card transactions. The company also markets prepaid debit and credit cards through its North American Merchant Client Network.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact: Financial Access Solutions Technology Inc. Tony Papa President (514) 576-0088 http://www.dm2debit.com
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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So say we get in on this on monday morning at around .04? Whats going to happen with those shares and money? Im not sure how buyouts work.
Posts: 854 | From: Alpharetta, GA | Registered: Mar 2006
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normally they are always commision free... I just went through one with ROMN, bought at .035 and a buyout occured at .09... what a deal... I missed today... might see a sudden pull back on monday... pretty much, anything under .10 is a winner...
-------------------- MSEP Posts: 599 | From: Springfield, MO | Registered: Feb 2006
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This is an unsolicited offer. This is not guaranteed. The company may take an extended period of time just to ponder it. If they turned this down, you may be left holding bags if you pay much more than the current POS. Do your DD and be careful. It is already up over .02 in one day, which is huge.
quote:Originally posted by Repoman75: Financial Access Solutions Technology Reports Unsolicited Purchase Offer for 100% of FLST Common Stock
MONTREAL -- (MARKET WIRE) -- 03/31/06 -- Financial Access Solutions Technology (OTC: FLST) today announced that Joseph Gammerieri, President of Puma Access Inc., from Florida, has forwarded an offer to purchase 100% of the common stock of FLST at a price of $0.10 per share for a total purchase offer of USD $9.1M in an all cash transaction.
This offer was unsolicited by FLST or any of its affiliates. FLST Officers have acknowledged the purchase offer formerly and will be seeking shareholder approval. The Officers of FLST and its board of directors recommend the acceptance of the purchase offer, which represents a significant premium to the current and recent trading levels.
About Financial Access Solutions Technology Inc.
Financial Access Solutions Technology Inc. (OTC: FLST), a technology provider, specializing in point-of-sale, cash and treasury, card products, and transactional software solutions for North American merchants. The company operates a wholly owned subsidiary named DM2 Technology, and markets the latest in point-of-sale (POS) terminals and software allowing merchants to efficiently process Debit and Credit card transactions. The company also markets prepaid debit and credit cards through its North American Merchant Client Network.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact: Financial Access Solutions Technology Inc. Tony Papa President (514) 576-0088 http://www.dm2debit.com
This is an unsolicited offer. This is not guaranteed. The company may take an extended period of time just to ponder it. If they turned this down, you may be left holding bags if you pay much more than the current POS. Do your DD and be careful. It is already up over .02 in one day, which is huge.
quote:Originally posted by adlai: Why aren't more people excited about flst... this is guaranteed money... hello....
- The deal is not conclued yet.From PR: (FLST Officers have acknowledged the purchase offer formerly and will be seeking shareholder approval. The Officers of FLST and its board of directors recommend the acceptance of the purchase offer...). The deal can be conclued in 1 month or more or less. We don't have any time frame.
- The company is unknown by a lot of people. This company release only few PR in 2006 and usually the volume is very very low. The price don't move so people don't look for this kind of company.
But now, a post exists for FLST on this board and some good news came out yesterday. People will come gradually and do their own DD about this company. If they like, more posts and buy are coming.
A lot more people read and add a post/reply on this board during the week. So, be patient and wait till next week for more post.
Posts: 10 | Registered: Mar 2006
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From another board..."ok, I just called the company......they said that they are having a share holder's meeting for approval and they are putting out a PR either later today or tomorrow.....so there you have it.......it's just a waiting game and I'm sure they will approve of the deal going thru....." Sounds like we'll know soon either way. Definitely worth the gamble, and I can't imagine why a .10 buyout wouldn't be approved on a stock trading under .04 - Great Value here IMO. GL
-------------------- Flavored Salvia Extract - www.salviaisland.com Posts: 6 | From: State College, PA | Registered: Mar 2006
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FYI, BZTG offered a buyout at .07. Since the offer the price has gone south. Be careful.
Posts: 806 | From: CT | Registered: Dec 2005
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I called the phone # on the PR, and its someone's voicemail, doesn't mention the company at all. Is that normal with OTC/pinks? Makes me uneasy!
Posts: 76 | Registered: Feb 2006
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well, lets hope for some pr tomorrow. This thing will pop big time as soon as we get the pr release!
Posts: 362 | From: Buffalo | Registered: Feb 2006
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