Sensar Corporation Announces Participations
SALT LAKE CITY, July 7 /PRNewswire/ -- Sensar Corporation (Nasdaq: SCII). Howard S. Landa, Chairman of the Board and Chief Executive Officer of Sensar announced that Sensar had completed two minority participations with what he believes are exciting Internet opportunities, PayStation America, Inc. ("PayStation") and journeylink.com(SM) ("journeylink").
PayStation
Sensar invested $150,000 in PayStation in the form of convertible preferred stock and convertible promissory notes as part of an interim financing for PayStation.
PayStation is an e commerce company that has the capability to deliver Internet based financial services to all consumers, including those consumers without a bank account and without a computer. Through conveniently located retail stores, e services are offered to customers who prefer to pay their obligations with cash. Check and credit card payment options are available as well.
Over the Internet, payment services will soon be offered through an interactive website for a per transaction fee without the need to register account numbers, names or credit information. PayStation's patent pending imaging technology provides the only system that can process any bill to any service provider in the U.S. Moreover, PayStation is the first to offer credit card payments for recurring bills at retail sites. (www.paystation.com)
Louis J. Krouse is the President and Chief Executive Officer of PayStation. After serving at AT&T for 25 years, Mr. Krouse founded two other payment ventures, National Payments Network, Inc. and NPN, Inc. Both companies were successfully developed and sold. Mr. Krouse was named National Entrepreneur of the Year in 1989 by Inc. Magazine, and received the Business Enterprise Award in 1990 from the Business Enterprise Trust.
journeylink
Sensar has invested a modest amount in journeylink (www.journeylink.com) which is building an entity that will directly market to virtual communities that strengthen and compliment existing off-line communities. journeylink will initially build an e-commerce vertical portal for the recreational vehicle community. In support of that endeavor, journeylink has an agreement with Camper Cubs of America ("CCA") to provide services to over 250,000 CCA members and to over 2,000,000 active campers that stay at more than 350 CCA preferred RV parks on an annual basis.
Dr. Donald G. Basile, who was the founder of CAM Systems Inc,. and Edward F. Wang, the former CEO/CFO of Avocet and co-founder of Nanogen, will lead journeylink.
Other Information
Mr. Landa also announced that Sensar had declined to participate in previously announced available opportunities due to the fact that those companies were not yet sufficiently developed.
Mr. Landa also stated that Sensar was designing a new and vastly improved website, which should be available on or about August 1, 1999. |
