COLORADO SPRINGS, Colo., Feb. 10, 2011 (GLOBE NEWSWIRE) -- PSI Corp. (Pink Sheets:PSCP) a leading provider of point-of-purchase kiosks and services, has announced the filing of its 2010 10K and a number of corporate updates.
PSI Corp. signed a joint marketing agreement with Midax, Inc. in September 2010 which has expanded the presence of its kiosks to a number of chain supermarkets and convenience stores throughout California, Illinois, Wisconsin, Massachusetts and Pennsylvania. As of December 31, 2010, PSI Corp. has installed kiosks in supermarkets throughout the New York City tri-state region including D'Agostino's, Met Foods, Key Food, Associated Supermarket, C-Town, Bravo, Fine Fare, and National Supermarkets Association. Following the roll out, the total amount of kiosks in operation will be 65 nationwide in both supermarket and convenience stores. Deployment is set to begin immediately and be completed by March 15, 2011. In addition, PSI Corp. has entered into a definitive agreement with a national convenience store brand to install kiosks in six convenience stores, in two pilot markets, executing its strategic initiative to expand markets.
Eric L. Kash CEO stated, "the convenience store model is a test market. PSI Corp. is entering this retail channel with a number of strategic alliances, who endeavor to ascertain, the ability to connect to customers seeking savings. One of the relationships is with a major buying group with over 6,200 members and is a marketing consultant to a national chain of 15,000 stores. If the six store pilot program is successful over a 90 day period, it can lead to an aggressive deployment in the months to come."
PSI Corp. has previously signed agreements for nationwide kiosk installation and maintenance, and has pending agreements with four additional kiosk manufacturers to meet growing demand. PSI Corp.'s kiosk has evolved from an original $27,000 multi-function kiosk with a lead time of 12 weeks to the current $4,100 kiosk with a 6-8 week lead time. With the new cost structure, PSI Corp. can deploy six times as many units for the same capital.
PSI Corp. continues to develop relationships with independent food brokers and has completed a relationship aligning PSI Corp. with independent food brokers in different regions across the U.S. The food brokers have shown an eagerness to introduce PSI Corp. services to clients, as a cost efficient means of advertising their clients' products.
Over the next three months, PSI Corp. will attend four industry tradeshows to further enhance its presence in the supermarket and convenience store industry. The backlog of kiosks by the end of the first quarter 2011 will be approximately 1300 units.
About Midax, Inc.
Midax, Inc. has developed a reputation as a strong, reliable systems integrator for the regional operator, small chain, and independent retailer in the grocery and convenience store industries. The Company focuses on a suite of products specifically tailored to these market segments, providing tools and technology that enable its clients to improve efficiencies and reduce costs to gain the same advantages as their larger competitors. For more information, please go to .
About PSI Corp.
PSI Corp. (PSI) (Pink Sheets:PSCP), operating as Pantel Systems, Inc., provides innovative interactive customer communications systems and applications. The Company has two patents pending for its coupon kiosks. For additional information, please visit
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Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "hopes," "intends," "plans," "seeks," "will," and other terms with similar meaning, including, but not limited to, statements regarding the entry into new vertical markets and new geographical regions. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
CONTACT: PSI Corp. Eric Kash CEO/ CFO 303 5th Avenue, Room 206 New York, NY 10016 eric@psicoupons.com 719-244-9677