LAS VEGAS, NV--(Marketwired - Sep 10, 2015) - New Wave Holdings, Inc. (
SchoolFuel is described as "scrip on steroids" and streamlines existing scrip provider platforms that have generated over $9 billion in retail sales and nearly half a billion dollars donated to schools since inception.
"First and foremost," states CEO Mark B. Newbauer, "there will be no reverse split on the stock. The Company restructured in December of 2014 to clean up a bloated share structure that existed years before New Wave. It was time. The last reverse split before that was nearly 8 years ago."
"Currently, the Company has 985,000,000 authorized shares and 582,183,464 outstanding shares. Of those outstanding shares, 350,000,000 are affiliate restricted as of July 2015, and there are only 232,183,464 in the float."
"Secondly, we are thrilled to announce that a note holder has forgiven $178,972.50 in debt owed by the Company to support New Wave's growth initiatives and strengthen its overall financial overview. $50,000 of this was reported on our Q3 and the remainder will be noted in Q4. The forgiveness of debt was offered unsolicited and without reason other than the debt holder wished to support the Company's long-term objectives and had great confidence in what could be achieved with its SchoolFuel program."
"Also, it's crucial to note that New Wave, nor its subsidiaries, is not bound to, nor will we be engaging with, toxic financing of any kind. Our debt holders are friendly third parties that believe in the company and its objectives. Our investors are private individuals that support our endeavors and see tremendous upside in terms of risk vs. reward due to the potential the SchoolFuel program, alongside long-term objectives for the company as a holder of compelling subsidiaries and/or partnerships in the payments industry. We WILL NOT fall prey to toxic financing or toxic awareness parties."
"The New Wave Holdings website is currently under revision and will be relaunched in the coming days. Until then shareholders can keep track at http://www.facebook.com/NWAVholdings or via Twitter @NwavH"
"Last but certainly not least, we are on track with our objectives for SchoolFuel. Last year was difficult in that we were engaged with partners that were enamored by the program but unable to deliver in terms of our overall objectives. All involved are supremely satisfied with FirstView Financial as program manager and the SchoolFuel team has already submitted due diligence paperwork for review, after which it will be submitted to the bank for final approval."
"Our program manager has stated that the bank is thrilled with the prospects of SchoolFuel and has already identified strategic partnerships to increase overall reach, effectiveness and profitability."
New Wave will continue to update shareholders regularly via press, Facebook and Twitter.
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New Wave Holdings is a Holding Company focused in electronic payment services and solutions with a focus in bringing innovative prepaid programs to market. The company strives to be a leading contender in the issuance of prepaid solutions and services that are both highly marketable and with socially conscious profitability.
SchoolFuel, LLC is a Company dedicated to innovative fundraising solutions for schools, universities, club teams, churches and more! Its inaugural program is a General Purpose Reloadable Debit Card which uses a patent-pending process to effect donations for consumer chosen non-profits.
FirstView Financial is a leading provider of financial, mobile and payment technology solutions. FirstView provides innovative payment solutions to help companies create new revenue streams, reduce cost, increase security and improve efficiency. Over the last decade FirstView has been delivering prepaid program management and processing services supporting a diverse array of prepaid card solutions. FirstView Mobile payment solutions allow companies to capitalize on the dramatic shift to mobile payments.
With decades of payment management experience, FirstView excels at innovation in the high-growth electronic, prepaid and mobile payment markets. FirstView provides turnkey prepaid debit card program solutions enabling clients to enjoy all the benefits of operating a fully custom prepaid program, without the compliance, risk management, overhead and operational burdens associated with entering the program management business directly. FirstView was recently honored with two prestigious 2014 and two 2015 PayBefore prepaid Industry Achievement Awards, including the award for our core business of white labeling prepaid programs. FirstView was recently honored with two prestigious 2014 PayBefore prepaid Industry Achievement Awards. Providing innovative payment solutions since 2005, the company is headquartered in Atlanta, GA.
Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.
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