LOS ANGELES, May 16, 2012 (GLOBE NEWSWIRE) -- MediSwipe Inc. (www.MediSwipe.com/" target="_top" rel="nofollow">www.MediSwipe.com) (OTCBB:MWIP), a merchant payment solutions and financial products company for the medical health care industry, today announced that the Company has received the first funds of $150,000 capital infusion by a private investor group, with a total commitment exceeding $200,000 for its 800 Commerce subsidiary in preparation for the previously announced spin off of the mobile marketing and payment and division.
"We are very pleased to announce that we have increased our cash position and liquidity for the 800 Commerce division in preparation of the spin off and previously announced S-1 filing. Clearly it is very important to have access to capital to fund our strategic plans for the 800 Commerce division moving forward. Further, We were recently approved by US Short Codes and now can claim full ownership over the short code 69800 'MY800,' which we will be launching the most unique mobile search engine and portals using keywords in every major area of business through our merchant network," stated Michael Friedman, CEO of MediSwipe.
"The Company will be timely filing its 10Q today, and will have further announcements throughout the next two weeks which we believe will show that the marketplace has truly under estimated our efforts and business strategy as we continue to move forward within the health and wellness sector over the coming year," further stated Friedman.
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) offers a full spectrum of secure and reliable transaction processing and security solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) payment solutions. The Company now also offers digitized personal health records in conjunction with Industry Alliance Partners. MediSwipe offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated and e-commerce businesses specializing within the healthcare sector.
FORWARD-LOOKING DISCLAIMER
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