LODI, Calif., Oct. 10, 2006 (PRIMEZONE) -- Pacific Financial Solutions, Inc. (Pink Sheets:PFUO), a leader in providing cashless ATM kiosks, Point-of-Banking (PBT) terminal technology and prepaid stored-value and Affinity "Gift to Give" prepaid gift cards, announced today the appointment of John A. Cutillo, Jr. as President of Pacific Financial Solutions, Inc. effective immediately. For the past six years, Mr. Cutillo has served as President of CACICOM, a privately held international telecommunications provider. Most recently, CACICOM has successfully operated an international commodities brokerage. Mr. Cutillo was responsible for business development, contract negotiations and project development for International Private Line Service (IPL) in addition to various domestic sales and marketing duties.
Previously, Mr. Cutillo was National Director of Sales at GlobeNet which was involved in high growth sectors of the international telecom market. In the 90's, Mr. Cutillo also served as Senior Vice President of US WATS, Inc., a publicly traded domestic communications carrier. Mr. Cutillo holds a Bachelor of Arts degree from the University of Pennsylvania. Mr. Cutillo has worked extensively in corporate management in both financial and marketing disciplines.
Clifford Goehring, Pacific Financial Solutions outgoing President, who will remain as Pacific's board Chairman commented: "Mr. Cutillo brings a remarkable level of experience in business development and sales management to our company, with particular expertise in alternative sales channels. He has a proven success in marketing efforts within the highly competitive international arena." Mr. Goehring continued: "We look forward to utilizing John's many industry alliances, by successfully expanding not only Pacific Financial Solutions, Inc., but our subsidiary Pacific Card Services, Inc. as well. PCS operates our extremely popular fundraising Affinity "Gift to Give" Gift Card program. We are particularly pleased regarding Mr. Cutillo joining our executive team and we look forward to his leadership."
About Pacific
Pacific Financial Solutions Inc., a premier global distributor of financial services and products, provides its customers with a wide array of affinity and prepaid stored-value cards and kiosk enabling devices. Pacific is comprised of integrated divisions: Point-of-Banking terminals (PBTs), prepaid debit cards and Affinity-based "Gift to Give" card products and services for 501(c)3 charity fundraising efforts. Pacific is a location services provider (LSP) for national and regional retail merchants. Pacific's continued success is driven by corporate sales, ISO's sales, as well as mergers & acquisitions. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. 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. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
For more information, call Pacific at 877-649-0016 or visit their website at www.pfuo.com.