NEW YORK, Nov. 23, 2009 (GLOBE NEWSWIRE) -- OLB Group, Inc. (OTCBB:OLBG), an e-commerce service provider offering software products and services designed to help businesses sell products over the internet, announced today plans for the fourth quarter to increase in revenues with an enhanced product offering list and the launch of new software version of ShopFast, an e-commerce turnkey solution.
Ronny Yakov, CEO of OLB Group, Inc., said, "The products and subscriptions that OLB offers are in increasing demand due to the challenging state of the U.S. economy and the resultant loss of jobs. More people are looking for additional sources of income and are interested in opening a home business on the internet. A significant factor for many new entrepreneurs is the added ability of obtaining affordable health insurance through arrangements with health insurance companies and OLB Group."
Mr. Yakov added, "The new version of the software is planned to be test marketed during the current quarter and to be officially launched in the first quarter of 2010. This initiative will not only allow us to increase sales short term, but it will allow us to exceed our revenue targets going forward."
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"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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