SOURCE: Mutual Merchant Services, Inc.

September 17, 2008 09:31 ET

Mutual Merchant Services, Inc. Announces Acquisition

THOUSAND OAKS, CA--(Marketwire - September 17, 2008) - Mutual Merchant Services (PINKSHEETS: MUTM) (German WKN# A0Q8CV ) (fka Sage Global Solutions, Inc.) today announced that it has acquired 1st Federal Financial, Inc. as a wholly owned subsidiary. As part of this transaction the former management resigned and appointed T. A. Gillis as Director and President of MUTM.

Mr. Gillis has moved quickly to implement a 1:400 reverse stock split of the common stock of the Company and secure funding of up to $2,000,000 to launch the Company's marketing plan.

MUTM (www.mutualmerchantservices.com) is a single source provider of financial services, offering a variety of products and services to merchants, financial institutions, and banks. Services offered include credit and debit card acceptance, check guarantee, check verification, check conversion, check 21, advance funding, ACH check processing, prepaid and bill pay services. MUTM also provides point of sale software, hardware, and e-commerce products.

Mr. Gillis is considered an icon in the credit card processing industry. With over 30 years of experience, he is one of the pioneers of moving credit card processing into the electronic age.

Forward-Looking Statements

This press release contains certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of products and technologies, competitive factors, and the Company's ability to continue to secure sources of financing. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.

Contact Information

  • For Investor Relations:
    Integrated Capital Partners, Inc.
    + 908-204-0004
    Email Contact