SOURCE: Asia Payment Systems, Inc.

April 19, 2007 16:44 ET

Asia Payments Gives Notice of Late Filing of 10K Report

HONG KONG -- (MARKET WIRE) -- April 19, 2007 -- Asia Payment Systems, Inc. (OTCBB: APYM) today announced that it has been unable to complete and file its 2006 10K report with the SEC as of the deadline date of April 17, 2007. As a result on April 18th NASD-OTC posted the company as a late filer and the stock symbol will change from APYM to APYME with the start of business April 20, 2007. Trading in the Company's shares will continue under the symbol APYME.

Asia Payments experienced considerable change and growth in 2006 through acquisitions and the added accounting and audit reviews resulting from these transactions has resulted in the delayed filing.

The company is continuing to work intensively with its auditors and legal advisors to complete the 10K report and bring its filings up to date. A further news release will be made when this result has been achieved.

ABOUT ASIA PAYMENT SYSTEMS, INC.

Asia Payment Systems, Inc. ("Asia Payments") is a US public company with its principal office in Hong Kong and business activities focused within the payments and loyalty-rewards industries in China and throughout Asia. Asia Payments' wholly owned foreign enterprise in Shanghai serves as its business development vehicle in China. Following acquisitions completed in 2006, Asia Payments now operates in multiple locations across Asia. In line with its long-term growth strategy, Asia Payments now has three distinct yet synergistic business units: Cards Business, Prepaid Business and Processing Business. For more information please visit Asia Payments' corporate website (www.asiapayinc.com).

Contact Information

  • Contact:
    Asia Payment Systems, Inc.
    KK Ng
    President & CEO
    (866) 877-APAY
    Email Contact