LODI, Calif., June 30, 2005 (PRIMEZONE) -- Pacific Financial Solutions, Inc. (Pink Sheets:PFUO), a leader in providing Cashless ATM and Wireless POS devices, Merchant Processing, and Self Serve Kiosks, utilizing Pacific's Point-of-Banking (PBT) terminal technology, announced today Bruce Grogg is the new President of Pacific Financial Solutions Banking Services Division. This division of Pacific Financial Solutions, Inc. (Pacific) owns, operates and manages custom Point of Banking Terminals (PBT's) for corporate and business clients nationwide.
"As a recent Consultant on staff (COS), Mr. Grogg has been extremely successful in placing Pacific on the right track for rapid growth through implementation of new sales and marketing solutions," commented Clifford Goehring, Pacific's Chairman. "Mr. Grogg's understanding of the complexities of our company mission and his experience in business development, sales, and operational experience prompted the offer and acceptance of Mr. Grogg to the position of president. We have enormous trust that Mr. Grogg's demonstrated abilities will continue to increase revenues, and help insure the continued improvement in our shareholder value."
Bruce Grogg brings to Pacific over 20 years of corporate leadership and entrepreneurial experience. Mr. Grogg is best recognized for his work with Hooked on Phonics and was instrumental in the company's growth from a small start-up to a $250 million giant in the education industry. Mr. Grogg has International finance experience with M&A's, senior management positions in addition to corporate training at EntreX Pty Ltd. in Australia, Gateway Worldwide Pty Ltd. in England, and Nippack International in Japan. Mr. Grogg was founder and CEO of the International BizNetCard.com, Inc. which held 5 patents, and operated manufacturing and sales facilities in the U.S., Canada and Japan. Mr. Grogg comes to us from his most recent position as CEO and President of QuickRecords, Inc., a professional corporate compliance company that developed and marketed an online automated Corporate Records Compliance solution.
"The opportunities Pacific has operational and under development are incredible, and I am eager to have a part in bringing all of them to fruition," stated Bruce Grogg, Pacific Financial Solutions Banking Services' new President. He added: "I look forward to building Pacific's PBT division into an exceptionally profitable element of Pacific's overall business strategy."
About Pacific
Pacific Financial Solutions Inc., a premier global distributor of financial services and products, provides its customers with an array of kiosk enabling devices. Pacific is comprised of three integrated divisions: Consumer Services, providing customer care, Point-of-Banking terminals (PBTs), and Product Service and Maintenance. Pacific is the location services provider (LSP) to national and regional retail merchants. Pacific's continued success is driven by corporate sales, ISO's and mergers and acquisitions. Pacific's global strategy centers on escalating its single and multi-use kiosk enabling devices worldwide.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of known and unknown risks and uncertainties that may cause the company's actual results or outcome to be materially different from those anticipated and discussed herein. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry.
For more information, call Pacific at 877-649-0016 or visit their website at www.pfuo.com.