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[QUOTE]Originally posted by J_U_ICE: [QB] Paivis, Corp. Signs Definitive Agreement to Acquire Detroit Phone Cards, Inc., a Profitable Prepaid Cellular and Prepaid Long Distance Card Company Acquisition Will Add $30,000,000 in Revenue to Paivis, Corp.; Acquisition Will Put Paivis in Higher Margin Prepaid Cellular Business and GSM Cellular Business; Acquisition Will Expand Distribution Channels; Acquisition Should Improve Infrastructure Efficiency Oct 5, 2007 7:53:00 PM ATLANTA, GA -- (MARKET WIRE) -- 10/05/07 -- Paivis, Corp. ("PAIVIS" or the "Company") (OTCBB: PAVC) is pleased to announce that it has signed a definitive agreement with Detroit Phone Cards, Inc., a Detroit, Michigan-based company ("DPC") that generates approximately $30,000,000 in revenue (unaudited) to acquire 100% of its assets. DPC generates approximately $6,000,000 annually in prepaid cellular phone revenue through its O-Mobile brand. The balance of revenue, approximately $24,000,000, is from the sale and distribution of prepaid long distance cards. The closing date is planned for October 31, 2007 or later if extended by mutual agreement. The closing of the acquisition of DPC is subject to completion of a financial audit and other conditions. Paivis has also agreed to provide working capital financing as part of the transaction. For more specifics on the terms and conditions of the acquisition see the definitive agreement which will be filed with the Securities and Exchange Commission within the required timeframe. Commenting on the completion of the definitive agreement, Edwin Kwong, Paivis, Corp., Interim Chief Executive Officer, said: "We are very pleased to have reached the definitive agreement stage with DPC. This acquisition not only increases our revenue base and earnings potential, but also expands our distribution and business lines into the GSM Cellular space, through the DPC Get Mobile subsidiary. Additionally, upon closing we will immediately gain cost savings that should add to the bottom line. We look forward to closing and providing more growth and value to our shareholders." Rami Chahine, CEO, of Detroit Phone Cards, stated: "We are thrilled about the completion of our definitive agreement with Paivis. Joining a public company such as Paivis is a tremendous step forward for our company. We believe together we can build a formidable operation to take advantage of the prepaid space. We plan to work closely with Paivis to close the transaction, immediately commence our integration and begin building value as one company for all our shareholders." About Paivis Corp. Paivis, Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets, including Duane Reade, 7-Eleven, and Chevron. About Detroit Phone Cards, Inc. Headquartered in Dearborn, MI. Detroit Phone Card, Inc. ("DPC") was established in September 01, 1997 as a leading provider of long distance, wireless, point-of-sale and carrier services. Always putting our customers first, we deliver reliable access to advanced, affordable telecommunications products and services that meet their needs at home and around the globe. Currently, our prepaid wireless and calling card products reach consumers through more than 2,000 locations nationwide. We serve more than 30,000 wireless customers and generate over 50 million network minutes per month, with an employee team of 30 people. More info on DPC can be found at the Paivis.com website. FORWARD-LOOKING STATEMENTS The Private Securities Litigation Reform Act of 1995 (the "PLSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements. Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. PAIVIS intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at http://www.sec.gov. Contacts: Paivis Corp. Edwin Kwong Interim Chief Executive Officer Phone: 404-601-2885 [URL=http://www.paivis.com]www.paivis.com[/URL] [/QB][/QUOTE]
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