Pinnacle Business Management, Inc.Creates E-commerce Cash Management Extranet for Franchisees;Franchising Infrastructure Ahead of Schedule
March 30, 1999 08:45 AM
CLEARWATER, Fla.--(BUSINESS WIRE)--March 30, 1999--Pinnacle Business Management, Inc.'s Franchise Division PCBM announced Tuesday that they are in the final testing stages of a proprietary closed-loop Extranet application, the purpose of which is to complement Internet-based management and administrative support and enable corporate headquarters to provide secure cash and loan administration services to its franchisees and company-owned offices.
"Through this breakthrough software, Pinnacle Business Management, Inc. will provide professionally supported cash requirements planning and loan administration services to our franchisee and company-owned offices. We are now empowered to maximize, while controlling, corporate growth. This fills our need for in-house electronic car title loan administration, paycheck advance tracking, check clearing and development of our branded Pinnacle Cash Card. We are one more step closer to our stated goal; to become a fully integrated provider of alternative consumer cash resources and a key provider of secure E-Commerce and retail cash and check transaction clearing services. PCBM shareholder wealth will be maximized through expanding our location count, client base and related technology base. Our proprietary Internet, Extranet and E-commerce technologies will also be licensed to outside parties," said Jeffrey Turino, CEO of Pinnacle Business Management, Inc.
The new software takes advantage of the growing spectrum of Internet-based technologies. Pinnacle Business Management, Inc.'s commitment to exploiting the ongoing growth of E-Commerce popularity will enable purchasers to easily use Personal Checks or Pinnacle's branded Cash Card on the Internet for such things as purchases and Internet-based gaming. The realm of E-Commerce can then include consumers who cannot, do not, or will not use Personal Checks or Credit Cards for purchases. This proprietary technology will also enable merchants to be paid faster, and goods will be shipped sooner.
Pinnacle Business Management, Inc. PCBM is a publicly traded holding company. PCBM operates through its subsidiaries Fast Title Loans, Inc. and Fast Paycheck Advance, Inc., and Summit Property Group, Inc., a commercial real estate division. Proprietary software and hardware is developed for application in subsidiaries and franchises mainly through ATI, the acquisition of which is in its final stages. PCBM intends to consolidate a fragmented industry with over 6,000 independent companies into a cohesive, self-contained alternative consumer cash resource.
PCBM intends to become a reporting company by the end of Second Quarter 1999. Growth plans will continue to be financed through public and private sources. Additional information is available through the company's web site or by calling the contact below.
PCBM intends to become the premier facilitator of cash transactions accessed or found through Internet portals, such as Yahoo YHOO , Excite XCIT , or Infoseek SEEK and shopping networks such as Amazon AMZN , E-Bay EBAY , Dell Computer Corp. DELL , Ticketmaster Online TMCS , Bid.com Inc. , Onsale Inc. ONSL , Ubid Inc. UBID or USA Network Inc.'s Home Shopping Network USAI .
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements, made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.
Contact: Peter Reinholt Pinnacle Business Management, Inc., Business Development Department Phone: 727/669-7781 Address: 2963 Gulf to Bay Blvd., Suite 265 - Clearwater, Florida 33759
Key Words: banking finance E-Commerce Internet Extranet franchise consumer cash software |
