SOURCE: The OLB Group

February 28, 2008 10:51 ET

OLB Group, Inc. Announces That It Has Moved to OTCBB Exchange

Company Completes All Necessary Filings to Become Fully Reporting

NEW YORK, NY--(Marketwire - February 28, 2008) - The OLB Group, Inc. (OTCBB: OLBG), an e-commerce service provider that delivers fully outsourced private label shopping solutions, announced that it has become a reporting company.

The company also announced that it has signed a letter of intent and is currently negotiating to purchase the intellectual property assets of Auction MOJO, Inc., a subsidiary of Samax Enterprises, LLC. Auction MOJO is a provider of turn-key internet auction solutions through the company's proprietary franchise system. OLB's Chairman, Mr. Ronny Yakov, stated, "We are very excited about this acquisition. Auction MOJO's franchise system will complement our existing business and round out our line of product and service offerings. In addition, OLB Group will focus on potential acquisition candidates in the e-commerce sector with a minimum of $5 million in revenues and at least 2 years' operating history with demonstrated positive cash flow."

About The OLB Group

The OLB Group is an e-commerce service provider that delivers fully outsourced private label shopping solutions. We provide our clients with a seamless, end-to-end e-commerce solution, including site creation, hosting, transaction processing, order fulfillment, customer service, sales reporting, as well as a virtual inventory of name-brand products from top-selling categories on the Internet. Our private label shopping site is designed to maintain the unique look and feel of our customer's website, providing seamless e-commerce functionality that keeps users on the on the shopping site at all times. Order fulfillment and customer service are also provided under the brand names of our clients. We remain invisible to the consumer. Our e-commerce platform also enables our clients to create their own online marketing promotions and to customize product content to meet the needs of their online users. Our turnkey online shopping solutions include "ShopFast Direct Shopping Database" or "ShopFast DSD." and ShopFast PC (profit center). For more information, please visit http://www.olb.com http://www.shopfast.com http://www.shopfast.net

Disclaimer about the brands

All brand names referenced are registered marks of the respective companies named. The OLB Group does not own any of such marks, which are used solely for the purpose of promotion and sale of the associated products on our customers' websites.

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. The OLB Group, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.

Contact Information

  • Contact:
    Ronny Yakov
    The OLB Group, Inc.
    (P) 212-278-0900
    email: Email Contact