SOURCE: Trustcash Holdings, Inc.

April 18, 2008 08:15 ET

Trustcash Holdings, Inc. Shareholder Update

NEW YORK, NY--(Marketwire - April 18, 2008) - TRUSTCASH HOLDINGS, INC. ("TRUSTCASH") (OTCBB: TCHH) confirms that with the timely filing of its 10K PAIVIS, CORP. ("PAIVIS") (PINKSHEETS: PAVC) has started the final phase of its review required to complete the due diligence for the merger.

The timely reporting of its annual audit and the solidifying of its management team were key milestones achieved recently by the Company. Trustcash anticipates other milestones to be completed rapidly as it moves towards improving operations, increasing revenue and a merger with Paivis.

Trustcash's Interim CEO, Kent Carasquero, commented: "It was important for the Company to get its management situation stabilized and to remain current in our filings as this was required under the terms of the merger agreement. Mr. Lai, our new CTO, Mr. Shafer, our Chairman, and I are committed to work together as a team to make Trustcash a success. Mr. Lai will manage the IT department and the day to day operations of our web-based payment card system. Mr. Shafer and I can now concentrate our focus on completing the financing negotiations and continue our integration planning with Paivis."

About Trustcash

Through its Trustcash brand and website www.trustcash.com, the Company is a pioneer of anonymous payment systems for the Internet. It developed a business based on the sale of a stored value card that can be used by consumers to make secure and anonymous purchases on the internet without disclosing their credit card or personal information. Trustcash provides to its customers the "Trustcash™" payment card, which is sold in denominations ranging from $10 to $200 online through any of over 500 websites. Trustcash's non-reloadable, virtual Trustcash card is the only "stored value card" that can be purchased where no personal data is stored or available, providing a unique level of both security and privacy to the purchaser.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

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 http://www.sec.gov.

Contact Information

  • Trustcash
    Investor Relations
    Charles Moskowitz
    617-633-2259