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[QUOTE]Originally posted by Teufelmann: [QB] Pacel Corp. Raises Additional $360,000 for a Total of $2.8 Million Wednesday July 14, 9:30 am ET CHARLOTTE, N.C., July 14 /PRNewswire-FirstCall/ -- Pacel Corporation (OTC Bulletin Board: PCCL - News) announced today that is has received an additional $360,000 from Compass Capital Group. This brings the total amount of capital raised to $2,860,000. These additional funds allow the company to acquire state-of-the-art human resource information systems to support and grow its customer base. ADVERTISEMENT Gary Musselman, President & CEO for Pacel, stated, "The implementation of this new system will significantly improve the service offering to our clients and allow us to grow our business at a much more rapid rate." The average PEO has grown more than 20 percent per year for each of the last six years, according to a survey of members of the National Association of Professional Employer Organizations (NAPEO). About 700 PEOs that offer a wide array of employment services and benefits are operating today in 50 states. The PEO industry generates approximately $43 billion in gross revenues annually. PEOs have a nearly 80 percent client retention rate due to strong client satisfaction. About Pacel Corp. Pacel Corporation provides Human Resource Outsourcing services, including benefits administration, payroll administration, governmental compliance, risk management, unemployment administration and benefits administration to small and medium-sized businesses in the United States. The statements contained in this press release that are not historical facts are forward-looking statements that involve a number of risks and uncertainties. Therefore, the actual results of future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: (i) regulatory and tax developments; (ii) the effectiveness of the Company's sales and marketing efforts; (iii) changes in the competitive environment of the industry; (iv) changes in general economic conditions; (v) changes in the Company's direct costs and operating expenses; (vi) the estimated costs and effectiveness of capital projects and investments in technology and infrastructure; and (vii) Management's ability to effectively implement its business strategy. These factors are described in further detail in filings with the Securities and Exchange Commission. [/QB][/QUOTE]
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