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great news here yesterday guys, should be seeing updates concerning more agreements like this with associations all over the world very soon imo
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when news of the completion of the acquisition comes there should be no stopping this from breaking into the double zeros once and for all imo
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like the fact that the they sovereign just signed an agreement with an association that's the oldest and largest of its kind, connecting with them and their members is a great bridge to working around the world and into the massive Chinese market imo
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GT Legend Automotive Announces Strategic Initiative Into the US and International Multi-Level Marketing Payment Systems Market BALTIMORE, MD, Sep. 23, 2009 (Marketwire) -- BALTIMORE, MD -- (Marketwire) -- 09/23/09 -- GT Legend Automotive Holdings, Inc. (PINKSHEETS: GTLA) announced recently that a Binding Letter of Intent had been signed to acquire Sovereign Transfer Services Corp. GTLA now announces the appointment of David Rayburn as Executive Vice President - MLM Payment Systems to drive the Company's expansion in the MLM market worldwide. Sir Michael Burton-Prateley, Executive Chairman of Sovereign, remarked, "After an extended evaluation of this huge global market and preliminary market testing, we are delighted to announce David Rayburn's appointment as Executive Vice President - MLM Payment Systems. He joins our team with substantial experience in the MLM market, having been involved with a number of very substantial MLM businesses from their inception. He has built substantial personal 'down-lines,' yielding significant financial rewards.
The Direct Selling Association reported that in 2007, US direct sales were $30.8 Billion and the US direct sales force numbered 15 Million people. Similarly the Association reported 2007 Global direct sales of US$114 Billion, by 62.7 Million sales staff. We believe that in times of economic hardship and adversity, the growth of direct, relationship-based selling will be greater than any other, as consumers make purchasing decisions based upon personal recommendations of trusted friends and contacts. Since this market is poorly served by Payment Systems providers, we anticipate major potential for our growth and through David's relationships and experience, we will realize considerable benefit." Mr. Rayburn commented, "I am delighted to be working with the Sovereign Card Services team. Low-cost, reliable, multinational payment systems are a relatively new phenomenon in the MLM market and have a substantial role to play in the recruitment and management of high yielding 'down-lines' which are the life-blood of MLM businesses the world over. We have a lot to achieve." About GT Legend Automotive Holdings, Inc. GT Legend Automotive Holdings, Inc. is a Nevada corporation developed to meet the growing needs of the ever-changing automobile after market and to introduce a patent pending "Green Energy" conversion for cars and trucks that is expected to increase mileage while adding horsepower and reducing emissions. GTLA is in the process of acquiring Sovereign Transfer Services Corp., trading as Sovereign Card Services. Sovereign Card Services provides both Visa and MasterCard, secure, full service debit cards, providing cardholders with ready access to cash at millions of ATMs worldwide and which enable cardholders to conveniently pay for purchases at retailers everywhere. In addition Sovereign cards provide secure, low cost, convenient transfer of funds to relatives and loved ones through Sovereign's "Companion Card" program. Sovereign Debit Cards are easy to load, whether by cash, direct deposit, wire transfer or money order. For more information, visit www.sovereigncardservices.com.
Investor Contact: Tom Parilla Parilla Investment Group 814.824.4326
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good breakout here yesterday above the upper bollie, most likely a contributing factor to the consolidation that took place afterwards imo
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Mr. Rayburn commented, "I am delighted to be working with the Sovereign Card Services team. Low-cost, reliable, multinational payment systems are a relatively new phenomenon in the MLM market and have a substantial role to play in the recruitment and management of high yielding 'down-lines' which are the life-blood of MLM businesses the world over. We have a lot to achieve."
He sounds like a reputable MLMer, there is definitely major potential in this market
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an MLM can be very successful with right tools and right people running it, the company is right in saying that during times like these many people are going off of personal recommendations of friends and family
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The Direct Selling Association reported that in 2007, US direct sales were $30.8 Billion and the US direct sales force numbered 15 Million people. Similarly the Association reported 2007 Global direct sales of US$114 Billion, by 62.7 Million sales staff.
This would be great to grab just a tiny piece of these numbers, but with the company being in the U.S. as well as going national, we can break into the market with much success imo
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The US outbound remittance market is approximately US$70 Billion, per annum and China is the second largest recipient of global remittance funds, approximately US$40 Billion, per annum. Estimates suggest that remittances into China from the US are approximately US$6-9 Billion, per annum, with the greatest concentration occurring one month prior to the Chinese New Year holiday. Remittance transactions to China are typically 3-5 times greater in value than those to Mexico. Fujien Province receives the largest volume and value of all remitted funds into China.
With this marketing agreement in place as well, the international market for card services should be a lot easier to break into now, not to mention this Association is the oldest and largest of its kind, working with a high concentration of Chinese
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Sir Michael Burton-Prateley, CEO and President of Sovereign, remarked, "We are delighted to be partnered with Greenlink to bring an important service to those who are currently disadvantaged through lack of access to safe, reliable and inexpensive cash management services. In addition we believe that in pioneering deployment of reverse ATM equipped PODS, we can empower individuals to take complete control of their banking activities -- depositing, withdrawing and transferring funds and paying bill at the POD, in real time and at very attractive charges. There are over 40 million Americans who do not currently have bank accounts -- we will offer a compelling 'banking system' to these valuable individuals and provide a low cost platform for US-based individuals to support their families and dependents anywhere in the world."
again nice to see that Greenlink Interactive, a GT Legend subsidiary, is already working with Sovereign on new ideas such as PODS, their low-cost system should attract many customers who do not yet have bank accounts
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Away from work on payday? On vacation? Out sick? No problem. With a Sovereign account, your money is where you want, when you want it...24/7/365. Banking hours are a thing of the past. There's no more need to drive across town to pick up your check and then wait in line and pay to get it cashed. When payday hits the calendar, your money hits your account.
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Your money is protected by FDIC insurance when you choose Sovereign. In addition, your purchases are protected by Visa's Zero Liability protection. Sovereign is partnered with Skylight Financial a well- established and professional organization.
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Sovereign offers FREE Direct Deposit to all cardholders and accepts deposits from several sources. Expecting your tax refund, a disbursement from a government agency or child support payments? We've got you covered. Just give your routing and account information to the organization sending the payment. Sovereign also offers many reload options in addition to Direct Deposit. We will accept wire transfers, MoneyGram ExpressPayment, and PayPal.
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Accessiblity Think of the Sovereign Visa Debit Card as your ticket to Easy Street. Over one million ATMs worldwide accept Visa cards; over 8.4 million merchants worldwide accept PIN debit and over 20,000 Visa Members Banks worldwide offer cash advances. With these numbers on your side, you’ll be hard-pressed to find somewhere that DOESN’T accept your Sovereign card.
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Sovereign Sub Accounts By opening a Sub Account, you gain a cost-effective way to move money instantly, nationally or internationally, without expensive money transfer fees. A Sovereign account holder can open a Sub-Account online by calling customer care. Once you receive your sub-account card by mail, give it to the new cardholder, and instruct them to activate the card either online or by phone (to choose a PIN). After that, you can transfer funds to the sub or joint account online, by phone, or through Skylight Customer Care. Your second cardholder can access the funds at any participating ATM.
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Sovereign Card Services Joint Account It is also easy to make your Sovereign account a joint account with someone else. To do this, simply call Customer Care and request a joint account form. You’ll need to have the joint owner fully complete this form. It is faxed or mailed to Sovereign. Once received, a card is created and mailed to you to give to your joint account holder. The new card will need to be activated either online or by phone. Once active, the joint accountholder’s card will access all funds in the primary account. Joint owners a mutually responsible for all funds in account.
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