On4 Enters Into Discussions to Acquire a Payment Transaction Processing Company


Follow this company

Companies Mentioned

OTC:BB:ONCI
08/11/2014 [ACCESSWIRE]

VANCOUVER, BC / ACCESSWIRE / August 11, 2014 / On4 Communications, Inc. ("On4") (OTCQB: ONCI) would like to announce that it has entered into acquisition discussions with a merchant payment transaction processing company.  

These discussions are in keeping with the company’s long term market strategy to develop and/or acquire multiple transactions processing assets. On4 CEO Clayton Moore said, “I believe a diversified approach to the market place will best position On4 to service both traditional cash based transactions as well as the crypto currency segment.” The terms of the NDA between the parties precludes further information from being released at this time. On4 recently announced that On4 reached an agreement in principle to terms of a Licensing Agreement with NetCents.

On4 will be able to use the NetCents platform to process both traditional cash based transactions and crypto or digital based ones as well. In the interim, On4 will continue to look for other acquisition opportunities in the payment transaction space and specifically the crypto-currency segment.

About On4

On4 Communications is a development stage company focused on wireless and online payment technologies. On4 is actively looking for acquisitions and merger opportunities within these industries. The Company is a Development Stage Company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, Development Stage Entities, and has not yet generated significant revenues from their intended business activities.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements.  Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties.  See ON4’s filings with the United States Securities and Exchange Commission which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

For further information please contact: 

619 955-6436
Zouvas Law Group

 

Source: On4 Communications

COMMENTS

Leave a comment...
 * 

Your Name
 *