SOURCE: cMoney, Inc

cMoney, Inc

October 06, 2011 12:57 ET

cMoney Acquiring Core Beta Platform

HOUSTON, TX--(Marketwire - Oct 6, 2011) - cMoney, Inc. (PINKSHEETS: CMEY) is a Houston-based company that is at the forefront of global mobile phone-based payments and money transfers, while using the POS and ATM payment systems. The cMoney solution utilizes secure patent pending technology for mobile phone users, retailers, and financial institutions, which continues to innovate and strengthen the cMoney brand globally. cMoney has acquired funding in excess of $2 (two) million USD from a private investor which will allow us to obtain our core platform application that supports the patents.

By raising these funds, cMoney is able to finalize its acquisition of its core application which was designed by a third party technology firm. The acquisition will now allow for the development and deployment of the full cMoney solution. An updated Version 2 product has been developed and made available to use as a powerful resource when forming potential alliances with banks or mobile carriers. Remaining funds are allocated for cMoney to complete its auditing and legal requirements in preparation for the S-1 filing.

After the acquisition of our core platform product is complete, cMoney will enter into an agreement with a "Cloud" provider. The agreement will be provisioned to our specifications and will allow the cMoney solution to work more efficiently.

Paul Matthews, cMoney CEO, states, "I would like to take this opportunity to thank all of our loyal and long standing shareholders from around the world who have taken their time to provide positive feedback, invaluable constructive comments, and support. cMoney will continue to listen and earn our shareholders' loyalty, which will allow us to continue to 'MOVE MONEY AT THE SPEED OF NOW.'"

About cMoney, Inc. cMoney, Inc., a Houston-based technology company that provides innovative secure mobile payment solutions for mobile phone users, retailers and financial institutions, has developed an innovative way to send money and pay for goods and services using a mobile phone and the text messaging system protected by patents. Scheduled to debut in 2011, the pioneering technology will create a "virtual wallet" that will eliminate exposure to identity and credit card theft for users. It can be used anywhere that cash, checks, ATMs or credit cards are accepted. For more information, visit www.cmoney.com or contact contactus@cmoney.com.

Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to the integration of acquisitions and the ability to market successfully acquired technologies and products; the ability of cMoney, Inc. ("the Company") to effectively compete; the timing and effectiveness of the planned launch of the new cMoney solution; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; adverse results in litigation; and changes in and a dependence on key personnel. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

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