SOURCE: Paivis, Corp.

June 26, 2008 09:30 ET

Paivis Corp. to Seek Range of $0.04 to $0.05 per Common Share for a Dutch Auction With Trustcash

ATLANTA, GA--(Marketwire - June 26, 2008) - Paivis, Corp. ("Paivis" or the "Company") (PINKSHEETS: PAVC) today announces it seeks for its shareholders a range of $0.04 to $0.05 per common share for a Dutch Auction preferred by Trustcash ("Trustcash") as a way to acquire control of Paivis.

Since being notified of Trustcash's preference to implement a Dutch Auction, Paivis feels it is a positive step forward for our shareholders when considering how Dutch Auctions can be conducted.

A Dutch Auction provides a way for Trustcash to purchase large blocks of Paivis common stock below the proposed $0.10/share purchase price of the planned merger.

Paivis appreciates Trustcash's prudence with its efforts to save capital as per the merger financing. Regardless, we believe a range of $0.04 - $0.05 per common share is fair for Paivis shareholders who wish to participate in a Dutch Auction because the value we bring to Trustcash is greater in our opinion than the current market price of Paivis common stock would suggest.

We look forward to moving forward with Trustcash and continuing our efforts deliver value for our shareholders.

About Paivis, Corp.

Paivis, Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets, including Duane Reade, 7-Eleven, and Chevron.


The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.

Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. TRUSTCASH and PAIVIS intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause TRUSTCASH and PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in TRUSTCASH and PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at

Contact Information