FORT LAUDERDALE, Fla., Dec. 10, 2007 (PRIME NEWSWIRE) -- Secured Financial Network, Inc. (OTCBB:SFNL) announced today that it has reached a definitive agreement to provide Alexas Entertainment, LLC with a full spectrum of merchant services utilizing the RedFin Network and processing equipment for its gaming and amusement locations. Services include credit/debit card processing, cash advances, and check verification at point of sale.
Secured Financial Network President and CEO Jeffrey Schultz stated, "We are very excited to work with Alexas Entertainment providing our full spectrum of merchant services and equipment for the initial 70 locations of nearly 100 they currently operate amusement equipment in. Deployment for the initial 70 locations will be completed by January 2008 with annual gross revenue to Secured, from this agreement with projected expansion, in excess of $500,000."
"We are optimistic in our projected growth for 2008 as we continue discussions with many companies looking to utilize the wide spectrum of payment processing services Secured Financial Network has under one roof," Schultz stated.
About Secured Financial Network
Secured Financial Network, Inc. is a Ft. Lauderdale, Florida-based Company that looks to create growth, add to profitability, and build shareholder value by engaging in a full-spectrum processing for e-commerce and traditional transactions through a PCI Certified Payment Gateway and proprietary 'bank-grade' electronic-vault based payment-processing system through its exclusive Envoii Deployment License Agreement.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Secured Financial Network, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
INVESTOR INQUIRIES can be directed to the Company's website, http://www.sfnl.net.
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