FORT WAYNE, Ind., Nov. 4, 2010 (GLOBE NEWSWIRE) -- Advanced Content Services, Inc's (Pink Sheets:ADCS) MTP Ventures () announces today that it has entered into a Non-Disclosure Agreement with one of the largest card issuers in the United States toward a strategic collaboration for ServeNation's one-of-a-kind, "Give While You Live™" program featuring a general-purpose, reloadable debit card with multiple applications.
ServeNation CEO, Jasmine Raja and MTP Ventures (ADCS) CEO, Mark B. Newbauer, are thrilled to be in discussion with the Network provider, which is accepted in more than 185 countries worldwide with millions of locations for merchant acceptance and cash access for its global base of users.
"This is a crucial step as part of ServeNation's overall strategy," states Raja. "The Network provider is one of four key components to effect a viable program, including issuer, processor and, ourselves, the Program Manager. Mark and I have worked diligently together to ensure that, from here, an effective program is launched in a timely manner and we are very much on track thus far and will continue to keep pace through these initial steps to harvest a socially conscious success with multiple streams of revenue."
The ServeNation team has submitted materials to the provider for review and expects to announce its next steps in the coming days. Further, the team commits to shareholders to provide several updates in line with ServeNation's benchmarks toward card launch in 2011. Its original launch date of June 2010 was moved in light of several key benefits which the card will now offer in its inception, along with strategic partnerships and executive attachments which the company feels will seamlessly act to ensure a strong advance to market penetration.
ADCS acquires, creates, co-ventures and/or incubates powerful, unique business models and Intellectual Property. The firm was initially formed to develop new ideas and IP, as well as to acquire distressed companies in need of a 'business makeover', and transform them into thriving entities with sustainable revenue and progressive growth.
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Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
PR prepared by NMR
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