RENO, Nev., June 24, 2004 (PRIMEZONE) -- ICM Telecommunications, Inc. (Pink Sheets:ICMH), a rapidly growing provider of prepaid stored value credit cards activated at Point of Sale (POS) and ATM machines nationwide, announced today that it has relocated its corporate headquarters from Sacramento, California to Reno, Nevada, and also has launched its new corporate Internet web site, which can be seen at http://www.icmtelecom.net .
"Our relocation to Nevada will enable the corporation to benefit from a more business-friendly state in terms of taxation," said ICM's President & CEO, Doug Hamby. "In addition, we can use those economies to our advantage in executing our business plan."
Earlier this month, the company announced that it had received the first round of financing expected to total $750,000 before year's end. Hamby noted that three months ago, the company had said it would launch an aggressive program to propel the company into the financial services arena, especially the highly lucrative merchant services/credit card processing industry, noting this segment of the financial services industry was a marketplace measured in the tens of billions of dollars annually.
The CEO said shareholders and others can now see on the company's new web site a more full explanation of ICM's partnerships with merchant banks, check processors, check guarantee providers and peer-to-peer processors, and key product offerings, including prepaid debit cash cards, payroll cards and gift cards, accessible at ATM and POS terminals nationwide, and soon internationally as well.
"ICM Telecommunications is now the exclusive distributor of debit instruments for 1st Financial Solutions Inc., which is in partnership with Sutton Bank," said Hamby. "That bank's status as a premier card issuing financial institution permits our customers all the benefits of other ATM debit cards. ATM locations, and virtually all retail establishments, give card users several hundred thousand places where their cards will be immediately acceptable and honored, especially because these funds are federally insured. Further announcements about finalization of our international debit cards will be made shortly," he concluded.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements.