CMEC (OTC BB)
now trading at .31/.35....this just out...recent high is over a buck in
(PR Wires) DJ: Commercial Concepts, Inc. Announces Financial Services
DJ: Commercial Concepts, Inc. Announces Financial Services
SALT LAKE CITY, April 15 /PRNewswire/ -- Commercial Concepts, Inc., (OTC
Bulletin Board: CMEC) is pleased to announce the Company has entered into
negotiations for the purchase of a Credit Card Processing and Automated
Merchant Systems company based in Utah. Over the past ten years, the target
company has built a solid reputation and strong track record in the credit
card industry.
The purpose of the acquisition is to provide CMEC with the ability to
increase the range of E-Commerce and Merchant Account solutions, plus
provide financial products that will be made available to clients, as well
as joint venture partners.
It is the goal of Commercial Concepts to provide a private label credit card
to consumers who purchase products through merchanttraders.com, a site which
is owned by Merchant Traders, Inc., CMEC's wholly owned subsidiary. The
credit accounts will be made available in two forms. An unsecured Visa or
Mastercard subject to typical credit card rules, rates and interest will be
provided to "A" credit customers. For those clients who have less than
perfect credit, a secured card will be offered and issued in connection with
a savings account, maintained and administered by the bank with whom CMEC
will contract to underwrite the credit card. The Company intends to make
these services available to customers regardless of the outcome of
acquisition negotiations, however, the acquisition should improve the profit
derived from these efforts.
Website construction for merchanttraders.com is going well and many areas
are now complete. The Company is very excited about the anticipated launch.
Several products and services are now in place. The site is developed to be
very user friendly, and has many proprietary features. Users will be able
to perform tasks and purchase products in ways that are not currently
available on any other E-Commerce site. Applications are being processed
for copyrights and patent applications are pending for CMEC's proprietary
features.
From merchanttraders.com homepage, a user can access several pages that are
interactive with the logo of merchanttraders.com, which is a stylized
merchant vessel with hot links built into the sails and other parts of the
ship. Pages are named for the products sold such as; automotive, travel,
clothing, outdoor technologies, computer products, books and magazines, home
improvement, world cultures and information, and financial services.
Current products include: 2002 Winter Olympic products and private label
luggage, clothing and foot wear. The Company anticipates offering
automotive products, new car sales, and automotive trade and repair manuals
along with insurance and financial services in the areas of group health
plans, 401(k) and retirement plans. The Company also plans to offer travel
services that will include ticketing and reservations available through a
user services company. There are several software and hardware products
under contract for the computer user plus some trade magazines such as P.C.
Novice. The Company has also been successful in contracting with a sporting
goods developer and will market those products on a separate page. These
products include a complete line of sporting and outdoor products, plus a
patented backpack/boat and specialized camping gear.
On a further note, Commercial Concepts, Inc. has completed all the
translation for the interfaces and packaging for the Chinese version of
Quick Fixx 2000 and product will arrive in China ahead of contract
deadlines.
For further information on Commercial Concepts, Inc., view the Company's
website, fixxit.com, or call (888) 349-3475.
The foregoing press release contains forward-looking statements. For this
purpose any statements contained in this Press Release that are not
statements of historical fact may be deemed to be forward-looking
statements. Without limiting the foregoing, words such as "may," "will,"
"expect," "believe," or "continue" or comparable terminology are intended to
identify forward-looking statements. These statements by their nature
involve substantial risks and uncertainties, and actual results may differ
materially depending on a variety of factors.
/CONTACT: Commercial Concepts, Inc., 888-349-3475/
11:36 EDT
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