NEW YORK, Oct. 8, 2009 (GLOBE NEWSWIRE) -- OLB Group, Inc. (OTCBB:OLBG) announced that it is expanding the extensive worldwide distribution channels of ShopFast software by licensing the innovative software package to different countries which will result in accelerating sales of the company's turn-key business websites.
As a marketing tool for business opportunity, the licensing of the ShopFast software market has the potential of generating instant, and significiant, revenues for the company. As well as an upfront setup and modifications source, countries that license our software will be able to engage their own local distribution of a product source. As well as their store owners will be able to sell their own products.
Mr. Ronny Yakov, CEO of OLB Group Inc., said, "We expect to sign up one to two countries each quarter over the next two years. OLB Group offers individuals a robust, turnkey solution to opening an online business with the added benefit of health insurance for the business owners. Our depth of product offerings is without parallel in both scope and pricing. From cosmetics to DVD's and travel, OLB Group can assist the entrepreneur in starting a business that provides a good income for the hard working owner and a product and service list for the consumer."
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About The OLB Group, Inc.
"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. OLB Group, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies, and the purchasing activity or lack thereof by registered web mall members. The number of BSP web mall members is routinely revised to reflect adjustments for inactive membership. Inactive members are defined as registered members who have not shopped in a ShopFast stores for an extended period of time.
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