E-Star Systems Inc. Receives Illinois State Collection License
CHICAGO--(BUSINESS WIRE)--Sept. 22, 1999 - Sonoma Financial Corporation/VictorMaxx
Technologies, Inc. (OTCBB: VMAX) today announced their subsidiary E-Star Systems Inc. has
received approval from the State of Illinois to operate as a Licensed Collection Agency.
E-Star Systems Inc. is an industry specific collection service uniquely positioned to address the
needs of the short-term loan industry by developing a full line of collection services. E-Star has
differentiated itself from others by fully utilizing new technologies and proven collection
methods to more efficiently service clients.
Frank Anthony Contaldo, CEO of Sonoma Financial Corp., states, "This is a natural progression for
Sonoma Financial, payday advances are a unique loan and we have developed a very efficient
means of collecting them. When collections are left in hands of inexperienced and or untrained
individuals, the potential exists for lower returns and misguided collection tactics." Contaldo
added, "E-Star Systems was created to centralize collection efforts for `payday advance'
companies and to eliminate those practices which are or can be problematic."
Sonoma Financial Corporation is a financial services company that owns and operates a chain of
stores devoted to providing low documentation, short-term consumer loans. The company intends
to become the national leader in the "Payday Loan" market by strategically opening new stores,
penetrating new markets and by chain acquisition. Sonoma Financial is currently the only publicly
traded company with a sole focus on 'payday advances.' Ace (NASDAQ:AACE) and First Cash
Financial Services (NASDAQ:FCFS), have proven the viability of the concept in other markets,
but are not specifically focused in this area. A complete investor package is available at
e-relations.com.
Safe Harbor Disclaimer:
This release may contain certain forward-looking statements regarding the Company's expected
performance for future periods, and actual results for such periods may materially differ. Such
forward-looking statements involve certain risks and uncertainties, including but not limited to
risks of changing market conditions in the overall economy and the industry, consumer demand,
additional financing requirements, the opening of new stores, the success of the Company's
acquisition strategy and other uncertainties detailed in the Company's filings with the Securities
and Exchange Commission.
CONTACT:
Sonoma Financial Corporation/
Victormaxx Technologies, Inc.
Company Contact:
Frank Anthony Contaldo, 847/884-7795
or
Investor Relations:
Wayne Schumacher, 773/227-3910
KEYWORD: ILLINOIS
BW1194 SEP 22,1999
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