SOURCE: Seraph Security Inc.

April 20, 2009 10:44 ET

Seraph Security Inc. Announces Proposed Name Change to Commerce Online Inc.; Unveils a New Corporate Strategy

LOS ANGELES, CA--(Marketwire - April 20, 2009) - Seraph Security Inc. (PINKSHEETS: SRHS) -- In a move to underline its change in corporate strategy and direction, Seraph Security Inc. (PINKSHEETS: SRHS) today announced the Company's plan to become an industry innovator and leader within the e-commerce and payment processing sector. The Company's new business strategy will focus on delivering comprehensive services including merchant account activation, private label gateway connections, social network development, and provide customized software and solutions for payment processing that will increase revenue and emphasize costs savings to both online and bricks and mortar businesses.

In addition to its proposed new name, Commerce Online Inc., which management believes to be more consistent with its future business direction, the Company has unveiled a new corporate website -- located at www.commerceonlinemedia.com. The Company will retain its stock ticker symbol (SRHS), which trades on the NASDAQ OTC Pink Sheets until the name change is approved and new cusip number issued.

US online retail reached $175 billion in 2007 and is projected to grow to $335 billion by 2012. Business-to-consumer (B2C) e-commerce continues its double-digit year-over-year growth rate, in part because sales are shifting away from stores and in part because online shoppers are less sensitive to adverse economic conditions than the average US consumer.

"We believe that significant opportunities are available to the company within the e-commerce and payment processing space; our proposed name change to Commerce Online Inc. will better reflect our new corporate strategy. Further, our soon to be announced agreements with major partners and strategic alliances within the sector will immediately benefit our shareholders," stated CEO Kyle Gotshalk.

About Commerce Online

Commerce Online Inc. will seek to become a diversified holding company which will offer a full spectrum of secure and reliable processing solutions for e-commerce, mobile and traditional business transactions. The Company's business model will range from proprietary media tools and payment processing software including merchant processing, private label gateways, ACH and mobile payment solutions for Internet-based e-commerce as well as bricks and mortar businesses.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Seraph Security Inc. and Commerce Online, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • Contact:
    Kyle Gotshalk
    CEO
    Seraph Security Inc.
    310.651.3030