SECURTER ANNOUNCES ADDITIONAL PATENT APPLICATION RESULTS, BOARD AND MANAGEMENT APPOINTMENTS, IPO AND FUNDING UPDATE
“Securter Patent Application Confirms Novel, Non-Obvious and Industrial Applicability”
Toronto, Ontario January 12th , 2021 – SECURTER SYSTEMS INC (“SECURTER”), a financial technology company developing a secure card-not-present (“CNP”) mobile device technology, today announced developments in their most recent Patent Application, and the expansion of the company’s Board and Management Team.
General Corporate Update
As Securter advances its initiatives, it is beginning to attract the attention of strategic investors and others in the payment processing sector. All development and marketing activities, as well as all corporate matters pertaining to our planned Initial Public Offering are moving forward unencumbered.
Results of a Further Patent Application - In December 2021, the Company received the international search report and the written opinion of the International Searching Authority regarding Securter’s International Patent Application. The claims were found to be novel, non-obvious, and having industrial applicability.
PCI DSS (Level 4) certification – Securter's management team is in its final stage of document review and approval. It is estimated that at the beginning of February 2022, the documentation will be approved by the management team and required information to be submitted to 3rd-party validation of PCI compliance QSA (Qualified Security Assessor). In addition, the QSA will be working closely with Securter so the Company can become PCI compliant sometime during February 2022.
IPO & Funding Update - Securter’s IPO process continues to move forward with the financial audit, merit assessment and detailed corporate review nearing completion. As previously reported, the Company is continuing to raise funds though its $0.10 Unit financing, which has been increased from the original $350,000 target to $500,000. Anyone interested in participating in this private placement, should contact the Company for more details.
Changes to the Board - The Company is pleased to announce the appointments of Mr. Robert Clark and reappointment of James D. Romano as Directors of the Company effective January 12th,
2022. Mr. David Edmunds has resigned as a Director, but will continue as Chief Financial Officer and an integral member of our management team.
Rob Clark is a driven entrepreneur and venture capitalist with over twenty-five years of business experience within both the private equity markets, domestic and international equity markets. He has been a part of numerous transactions including mergers, acquisitions, company buyouts, public offerings, and corporate restructuring. Mr. Clark brings to his directorship an extensive understanding and hands-on ability in business and management consulting as well as public company advisory services.
Management Team Changes
The Board is also pleased to announce the appointment of James D. Romano as President and CEO effective January 12th, 2022, after a brief absence for personal reasons, following the resignations of Bradley J. Moynes as President and Steve Epstein as CEO. Both Mr. Moynes and Mr. Epstein remain as Directors. Mr. Epstein, Securter’s Co-Founder, is appointed as Chief Operations and Innovation Officer. In addition, the Company is pleased to welcome Jason Taylor as an Advisor to Securter. Mr. Taylor has over 25 years of experience in credit card processing and POS systems. Mr. Taylor joined the Bank of Bermuda in 2000 as part of an e-commerce joint venture. After running the authorization and settlement systems as the VP of credit card systems at TWPS, he assisted in the sale of the company to Planet Payment in 2006. Mr. Taylor was the CIO at Planet Payment from 2009 through 2016 and oversaw technology, infrastructure, audits and security. In 2012 he was an intricate part of helping Planet Payment list on the Nasdaq exchange. From 2016 to 2019 Mr. Taylor held the role of CISO where he assisted with the private sale of the company in December 2017. Mr. Taylor left Planet Payment in the spring of 2019 and now serves as a non-executive director on boards and offers his consulting services.
Securter Systems, Inc. is developing proprietary, patent-pending credit card payment platform innovations to increase the security of online credit card payment processing, globally. Securter technology reduces immense losses by financial institutions and merchants that arise from fraudulent credit card use. Securter technology also protects cardholder privacy by eliminating the need to distribute credit card details to multiple commercial 3rd parties, where such information is ordinarily stored, becoming vulnerable to theft or manipulation. Securter technology can and will be integrated into complementary payment methods and FinTech protocols, including crypto currency and other blockchain derivatives to come for independent platforms. Securter has internal R&D capability and management as well as external FinTech business relationships to support the overall business mission.
CORPORATE CONTACT INFORMATION:
Securter Systems Inc.
The Exchange Tower
130 King Street West, Suite 1800
Toronto, Ontario, M5X-1E3 Canada
This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Technology development may be delayed indefinitely until the Company is able to raise the necessary capital. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
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