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This looks prReward Enterprise's Consumers Choice Unit to Rollout Phase One of Web Site Operations in Late February
HOUSTON, Texas, Feb. 2 /PRNewswire-FirstCall/ -- Reward Enterprises (OTC Bulletin Board: RWRD), a diversified financial services company specializing in sub-prime consumer lending, announced today that it plans to have the initial phases of its web site http://www.consumerschoicefinancialservices.com/ operational later this month.
The web site will be brought online in three stages with Phase I completed in late February. Phase I is focused on collecting contact information for potential customers that are requesting information on the Company's wide array of sub-prime products. Auto lending will be the first loan product that will become operational on the web site.
Phase II of the web site project will be to promote the site and bring increased volume of potential customers to the site. As previously announced, additional products such as identity theft protection, insurance and mortgage lending programs will be introduced throughout the year.
Phase III will be the fully developed site that will include credit card lending. This stage is dependent on the Company completing its bank charter application and approval process.
President Jeff Fisher commented, "The Company's web site is an integral part of our business plan. We have had many inquiries on the site lately and I want to emphasize that our web site is still under construction and we are preparing it to become interactive later this month. Each month, the site will function more seamlessly and efficiently as more products move on-line. We will issue news updates as we make progress towards creating a comprehensive, consumer-oriented financial services website geared for sub- prime lending."
About Consumers Choice Financial Services, Inc.
Consumers Choice is a consumer financial services company with operations in consumer debt-acquisition and many facets of sub-prime consumer lending. Based in Houston, Consumers Choice has an aggressive growth and expansion plan that includes a bank charter for issuing credit cards to targeted sub-prime consumers. For more information, visit http://www.consumerschoicefinancialservices.com.
Statements about the company's future expectations, including revenues and earnings and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of section 27A of the Capital Securities Act of 1933, section 21E of the Securities Exchange act of 1934, and as the term defined in the Private Litigation Reform Act of 1995. The Company's actual results could differ materially from expected results. The company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release, the company will appropriately inform the public. For more information, contact: OTC Financial Network Reward Enterprises, Inc. Rick McCaffrey, Investor Relations Vera Ferkashun 781-444-6100 x621 713-937-1117 rick@otcfn.com mail@consumerchoicefs.com
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hey bous, don't feel like the Lone Ranger. I thought and still think this looked and sounded like a great company but wow it's slip sliding away so far. LOL I planned on holding it and MRKL anyway. Good thing.
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quote:Originally posted by salvia123: immediately...cant believe the slip in the pps im pissed....cant make a right call in a while....haven't had a winner since QBID
i see my early retirement slipping from me
still have faith in RWRD....please throw a dog a bone
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Yeah this one is disappointing so far. Talk about making the right call, geez I had a $300.00 gain this morning. All I had to do was take it. I sat on it until it evaporated. BAD decision! As I said in a diffent thread I was the official poster boy today for greed. Hang in there. Have a great weekend.
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The good news is that this things jumps around like a jumpin bean up 30 pecent already, moves easy and had some good PR a while ago .
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Could not tell ya it has dropped to .077 then up to .0125 then this am down to .085 now it is at .012 lots of money could be made on the dips but I have no long term projections!!
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This is from January but I hadn't seen it on any other thread. Am I missing something? Can someone who is much more stock savvy tell me why this company isn't moving? Thank you.
BUSINESS SUMMARY (back top) Reward Enterprises, Inc., (OTC BB: RWRD), through its Consumer's Choice Financial Services subsidiary, ("Consumer's Choice") is a diversified financial services company focused on the high-growth, profitable segment of sub-prime consumer lending and debt-acquisition. Consumer's Choice plans to roll-out multiple, lending products to sub-prime consumers who are generating positive cash flow and are ready to improve their financial status.
Consumer Choice's lending programs for autos, mortgages and credit cards seek to provide easily accessible and attractive rates to the growing market of sub prime consumers. Sub prime consumers currently suffer from extraordinary high lending rates, credit reporting inaccuracies and/or have a low credit rating.
The Company's goal is to create long-term customer relationships by offering superior service, ancillary products to improve financial status, and debt settlement/credit history file monitoring. Consumer's Choice has an aggressive growth plan that includes a bank charter for issuing credit and debit cards to its targeted sub-prime consumers.
With an expanding product line that keeps pace with current trends in the financial markets, Consumer's Choice expects to grow its total revenues to $30 million within three years of operations. (Estimates are provided by the Company and are subject to change.)
BULLISH MARKET (back top) Consumer's Choice is focused on one of today's fastest growing industries, debt buying and sub-prime consumer financial services/credit card services. With the successful November 2002 IPO from Portfolio Recovery Associates (Nasdaq: PRAA), Wall Street has become a believer in the profit potential available from well-managed debt buying companies. Recently, consumer giant Providian (NYSE: PVN) has entered the same category with its First Select operating subsidiary.
Most successful debt buying enterprises pay between 4 cents and up to 10 cents per dollar of face value on uncollected debts from banks, credit unions, consumer and auto finance companies and other lenders. The resulting industry standard for debt recovery is approximately 20 cents. With this strategy,Consumer's Choice expects to generate gross margins near 50%.
Consumer's Choice has developed proprietary analysis systems for purchasing debt to meet its standard for producing prototype customers.
A prototype customer for Consumer's Choice earns in excess of $70,000 annually and has a FICO credit score below 650. Upon purchasing uncollected debt from this prototype consumer, Consumer's Choice contacts them about settling the debt by placing the balance on a credit card issued by its bank. The Company can then be targeted for other financial services products, such as car loans and mortgages to create a "lender for life."
INVESTMENT HIGHLIGHTS (back top) Niche Player - Through its Consumer's Choice Financial Services subsidiary, RWRD combines the elements of a successful debt-buying operation with that of a sub-prime consumer lender, targeting a high-growth niche market.
Multiple Products Đ New products expected to launch the first half of 2005 focus on identity validation protection and debit cards, today's cornerstone of the financial services industry.
Maximizing Revenues and Returns - The Company projects revenues from its debt settlement operation, lending programs and sales of services to grow total revenues to $30 million by 2007. Gross margins across all product lines are estimated at close to 50%.
EXPANDING PRODUCT SUITE (back top) In order to create life-time customers, Consumer's Choice offers a full array of financial and lending products, including credit cards, auto and other motor vehicle loans, mortgages, insurance, identity theft protection and other products and services to meet individual and families' evolving needs.
Recent product developments include:
Identity Theft Products - Expected to launch in the first half of 2005, these products address an explosive domestic and international concern. Identity theft has risen 24% in the past year and is now one of the fastest growing crimes in the United States. The Company estimates there are potentially 30 million consumers who are currently victims of identity theft.
RWRD's product line is focused on protection strategy products and insurance against identity theft for consumers who are potential victims from identity theft crimes, where personal information such as social security and/or credit card numbers are stolen and used by impostors. Pricing on a range of products will be from $200.00 to $750.00 in annual fees.
Debit Cards - The debit card is today's cornerstone of the consumer financial services industry. Often a MasterCard debit card is the first step for a consumer who has marginal credit scores toward re-establishing a relationship with the U.S. banking system. Used as a building block, the debit card can help these consumers link up and gain trust in a financial services institution which can offer them more opportunities in the future and better rates and terms for credit cards, auto loans and mortgages.
In December 2004, Consumer's Choice formed a joint venture with U.S. Debit Corporation. The agreement calls for Consumer's Choice to purchase up to 250,000 debit cards over a two-year period. The cards will be co-branded with US Debit Corporation and the MyBankCard MasterCard products. Retail price to consumers is projected at $29.99 per card with a monthly fee of $4.99. The revenue projections based on distribution of 35% of the cards in 2005 and 65% in 2006 are $4,370,625 and $14,979,750, respectively. Projected net margins after costs of goods sold on the program are approximately 35%. Management is preparing to roll out the program in the first quarter of 2005.
AGGRESSIVE GROWTH PLAN (back top) Consumer's Choice has initiated an aggressive growth plan for 2005. Included in the plan is the application for, and subsequent approval of, a special services bank charter to issue credit cards to consumers and businesses in the sub-prime lending category. Already announced are plans to market and distribute a line of full-service debit cards and also a plan to develop and market a line of products to help deter identity theft crimes against consumers and small businesses.
Consumer's Choice plans to apply a proprietary measurement and evaluation systems to purchase uncollected debt from lenders. The strategy is to turn bad loans into profitable customers for its products by taking advantage of the time lapse between when a consumer gets into financial trouble and posts unfavorable credit scores to when he/she has regained financial health, yet his/her credit scores have not recovered.
With plans to roll-out a calculated growth strategy over the next three years, Consumer's Choice projects revenues from its debt settlement operation, lending programs and sales of services to generate in excess of $30 million in 2007.
SOLID UPSIDE POTENTIAL (back top) Reward Enterprises is poised to benefit from the fast-growing, profitable speciality banking segment of sub-prime lending. Reward's subsidiary, Consumer's Choice Financial Services, is growing its client relationships and rounding out its product line to include sub-prime auto, mortgage, credit and debit cards, and identity protection insurance to drive multiple, ongoing revenue streams and strong gross profits (around 50%). Favorably positioned to build strong top- and bottom-line improvements over the next several years, RWRD represents an exciting investment opportunity to reap the rewards of a booming, speciality banking market.
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I feel your pain. It's taken a lot of patience. But man when someone buys that much at over the ask that is a pretty big statement isn't it? There has to be something going on. Please tell me there is. LOL
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LOL That's the way I've felt this week. I have had to have the patience of a freaking monk. My stocks have been getting hit like unwanted step children. Geez I almost wet my pants seeing some of my stocks actually going up today. LOL. Good Luck bous! hang in there bro!
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I'm curious after the 1.3 million share buy towards the end of day. Is this stock ready to blow? I can't think someone would just throw $12,000 away would you? I have no problem throwing a smaller amount away but $12,000? I'm hanging on hoping there's some great news. 100% eh bous? Were you wearing a parachute?
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