SOURCE: New Wave Holdings, Inc.

New Wave Holdings, Inc.

May 18, 2015 08:30 ET

New Wave Holdings, Inc. to Expedite Program Launch for SchoolFuel™ GPR Debit Card Program

LAS VEGAS, NV--(Marketwired - May 18, 2015) - New Wave Holdings, Inc. (OTC: NWAV) CEO Shawn Patrick Carden announced today that efforts are under way to materialize the company's growth and production directives. "With a product as powerful and with as much potential as SchoolFuel™ waiting to be launched, the company will no longer tolerate outside vendors that do not have a vested interest in the success of the program to be in charge of its destiny." 

Carden added, "Effective immediately, New Wave will build its own technology base through accelerated acquisition of partner companies. The incoming management staff ensures that the necessary technology and infrastructure will be in place to produce SchoolFuel™ internally, including an expedited launch; with increased capacity, functionality and greatly reduced costs. The net effect will be a far more streamlined, competitive and profitable SchoolFuel program."

SchoolFuel's electronic platform streamlines existing Scrip programs with its patent pending process and replaces bulky, inefficient old fundraising coupon and voucher systems for schools and charitable organizations. 

Families will now have access to SchoolFuel™, a general purpose reloadable prepaid card that can accept direct deposit, electronic transfers, ATM withdrawals, Apple Pay and acceptance at any merchant that accepts Network branded cards. This eliminates the hassles of the voucher system, including having to guess how much the family will eventually spend at a merchant, having to carry around multiple coupons, and having to reconcile leftover coupons. This works anywhere the user shops, in two different ways:

  • Participating Retailer
    A SchoolFuel™ cardholder can use their card at any participating retailer in the United States that accepts Network branded cards and the participating retailer will donate a % of the pre-tax purchase amount to the SchoolFuel™ cardholder's school of choice.

  • Non Participating Retailer
    A SchoolFuel™ cardholder can use their card at any location in the United States that accepts Network branded cards and SchoolFuel™ will make a fixed donation (10% of transaction profits) to that member's school of choice.

Carden added, "The materialization of the SchoolFuel program is only the beginning of good things to come. We are aggregating a collection of international and domestic programs with superior potential for growth and profitability. We are currently assembling due diligence for our banking partners to ensure shareholders receive a prompt, accountable launch date for the upcoming school year.

The technology that we acquire through our internal acquisitions is applicable not only in bringing SchoolFuel to fruition, but a host of equally beneficial programs as well. The shared resources and savings earned through economies of scale will ensure a more beneficial outcome to the charities we serve and more importantly, to the stockholders to which we are accountable."

New Wave Holdings, Inc. (OTC: NWAV) is a Holding Company focused on prepaid products and solutions. The Company is currently targeting acquisitions in the Payments Industry toward building a synergistic portfolio of companies focused on prepaid products, payment solutions, and merchant services. New Wave Prepaid Solutions is a subsidiary formed to develop and launch innovative prepaid programs to market.

NOTE TO SHAREHOLDERS: If you or anyone you know has a business that would be interested in joining the platform as a participating retailer, please contact us at info@NewWaveHoldings.com

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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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