SOURCE: Compass Biotechnologies Inc.
LAS VEGAS, NV--(Marketwire - Oct 9, 2012) - Compass Biotechnologies Inc.'s (PINKSHEETS: COBI) wholly owned subsidiary, 1World Direct US Inc.("1World"), which recently announced that it expects revenues to increase over 1000 percent in the 4th quarter, has recently signed an exclusive marketing agreement with a non-bank remittance company in Indonesia to provide modern and reliable money transfer services for overseas Indonesians. Indonesia and the Philippines have large populations of workers overseas and expatriates. Both countries are also listed among the world's largest recipients of remittance inflows, with the Philippines receiving $21.3 billion and Indonesia receiving $7.1 billion, according to the 2010 Migration and Remittances Factbook of the World Bank.
"1World has gained a stronghold with PT. Duta Nayaka Bali and related crewing agencies. With PT. Duta Nayaka Bali as a starting point, 1World expects to eventually reach the entire Indonesian remittance market. PT. Duta Nayaka Bali Indonesian Labor Consultants are engaged in providing services to more than 10,000 seafarers leaving Bali each year. 1World will help to coordinate and market the product locally. We are aggressively expanding to various parts of the globe," said 1World CEO Tom Krucker.
Dewa Nyoman Budiasa, Bali Regional Chairman of the Indonesian Seafarers' Union, said his union has endorsed the efforts to bring the remittance products to their members. "We look forward to working with both 1World and PT. Duta Nayaka Bali to promote this exciting opportunity to our members. From our side, this solves a long term concern of our workers, and we expect our members will be excited about how easy the product is for them to use at a fraction of the cost of other options available to them in ports around the world." Budiasa also serves as Southeast Asia Coordinator for the International Committee for Seafarers' Welfare and sees potential beyond Indonesia. "Certainly, Indonesia has an enormous number of overseas seafarers but there are also other seafarers from the Southeast Asian region who are in need of a service like 1World can offer. Ideally, through our union network and with the help of industry partners, we can help bring them the solution," he added.
ABOUT: 1World Direct Inc. and Compass Biotechnologies Inc.
1World Direct US Inc., a wholly owned subsidiary of Compass Biotechnologies Inc. (PINKSHEETS: COBI), integrates and provides direct payment systems into the global community that positions the company above its direct competition. 1World Direct leverages the integration of its branded cards and expands access to its stored value cards for consumers through multiple distribution channels. 1World provides a singular competitive resource for affordable funds transfer and stored value products and services generating continued profits for its shareholders.
FORWARD LOOKING STATEMENTS
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws.