FT.LAUDERDALE, Fla., Nov. 17, 2004 (PRIMEZONE) -- CASH NOW CORPORATION (Pink Sheets:CHNW) went public this week, revealing their plans to aggressively pursue corporate growth utilizing a licensing networking. The Company will concentrate its efforts to convey its new marketing opportunity to the public, making its unique online network of payday loans licenses available to entrepreneurs.
CASH NOW CORPORATION is developing the most comprehensive service in the cash advance industry, utilizing the Cash Now brand. As the pioneers in the payday loan industry, and after vast research and development, Andrea Zecevic CEO, stated, "Cash Now is perfecting the concept of lending money until payday.
Drawing on our knowledge and expertise as lending experts, we have created a solid business model that works."
The company began testing a licensed concept nationally with corporately operated and joint venture locations. This has been an unqualified success. Today, the payday loan business is one component to a vast array of financial services Cash Now has at its disposal.
Payday Loans is one of the fastest growing businesses in, not only the United States, but Canada, Australia, England, New Zealand, South Korea and more. The payday advance industry was virtually non existent in 1990.
One payday advance group estimates over $25 billion in payday advance revenue will occur in 2004. 100 million transactions will occur.
12 million households will be served. The Tennessee Department of Financial Institutions reported to its legislature that licensed payday lenders earned over 30% return on investment in the first nine months of legal operation.
Stephens Research, a well-known investment banker forecasts a potential mature market for 25,000 stores generating $6.75 billion in fees annually this year! We estimate there are currently 40,000 people employed in the industry with $1.1 billion in wages paid by payday advance employers.
ABOUT CASH NOW
Profit Guide magazine recently ranked the Cash Now Group of company's number 10 out of the 50 fastest growing and most promising emerging companies. Our C.E.O has been nominated as one of Canada's top 40 under 40 executives, by the Globe and Mail report on business, Canada's National business daily newspaper.
Our top and mid-management staff are considered industry visionaries. Most of them have been employed by some of our top competitors, and some have ranked as high as the President and C.O.O. Our website is ranked in the top 5% world wide and top 100 of the industry. We are the fastest growing, most e-commerce enabled, content rich portal of our industry (source Alexa January 2004).
The Cash Now name, logo and brand name awareness is promoted extensively by our full-time I.T. staff members, who ensure that several million impressions of the Cash Now brand name is served daily.
The Cash Now brand dominates the industry with 10% click through rate compared to the 2% industry rate and our competition average. (Source Google search engine April 29/02 to Aug 9/02 tracking period). All of this translates to more customer appeal for our Licensees.
Matters discussed in this press release are "forward-looking statements." Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to certain risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated.
Forward-looking statements in this news release are made pursuant to the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Cash Now's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Cash Now's periodic reports filed with the United States Securities and Exchange Commission and other regulatory authorities.
For more information about CASH NOW CORPORATION and opportunities associated with owning your own Cash Now location: www.cashnow.com Contact: Andrea Zecevic, CEO Toll Free: 1-866-778-2996