SmartCard Marketing Systems Inc.

SmartCard Marketing Systems Inc.

November 21, 2008 11:16 ET

SmartCard Marketing Systems Inc. (PINKSHEETS:SMKG) Corporate Update to Shareholders With FAQ's

SAN ANTONIO, TEXAS--(Marketwire - Nov. 21, 2008) - SmartCard Marketing Systems Inc.(PINKSHEETS:SMKG) CEO Massimo Barone Stated "I am pleased to provide the following update to our Shareholders and Investors and to confirm that since the beginning of the companies trading on the Pinksheets in 2006 that Insiders and Affiliates have not sold any shares of (PINKSHEETS:SMKG) and continue to hold their positions which total an estimated 155mm of restricted and non-restricted shares of 200mm authorized. Additionally in the past 2 weeks Affiliates have directly and with friendly investors acquired up to 3mm shares of the company's stock on the open market at prices of .005 and .006 and should conditions persist possibly continue to acquire more shares personally.


1) Is the company considering a Reverse Split?

I have been contacted by many shareholders with this similar question regarding a reverse split. We have considered this move to reduce the structure of the shares but did not feel it would be in the interest of all shareholders. We would like to hear from you so please forward your reply to subject line: your response yes or no.

2) Is the company being Acquired?

We are contacted on a regular basis by companies in the financial services industry wanting to take advantage of our technology, products and client list. At this time we are building the company and creating value for our shareholders and feel that unless the potential acquirer is to buy the complete public entity we have not pursued the matter.

3) Are the filings to upgrade Status ready?

At this time the filings are ready and being submitted for review. As we prepare to file the 3rd quarter financials we will jointly submit the filings to receive approval from Pinksheets for current status from limited information.

We seek safe harbour.

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