LAS VEGAS, NV--(Marketwire - September 7, 2010) - Consorteum Holdings, Inc. ("Consorteum" or the "Company") (
BSM provides first class officers and crews for yachts, cruise ships, and offshore vessels. With ship owners and staff placed across the globe, BSM requires a comprehensive methodology for accepting payments in multiple currencies from ship owners, then converting the funds received to pay their officers and crew in the local currency of choice. In March 2010, Consorteum provided BSM with a new multi-currency payroll, payment and settlement solution not widely available within the industry today. The flexibility of this solution will offer a new and unique way for ship owners to pay staff from all over the world in almost any currency.
The Company and BSM successfully completed the first stage of testing for deposits and currency conversions. Consorteum and BSM are now commencing stage two of this initiative, which includes introducing the program to BSM's remaining employees to ensure that the program continues to perform properly. The completion of this phase will allow for a larger scale deployment in the coming months.
Craig Fielding, CEO of Consorteum, stated, "This initiative is aimed at streamlining the process of payment from ship owners to their thousands of employees. Now beginning stage two of this initiative, our team is very confident of continued success and are looking forward to expanding the initiative over the next six (6) months. Consorteum will generate revenue from every payroll and multi-currency transaction processed."
Patrik Dahlgren, CEO of Blue Sea Manning, commented, "With the successful testing of the payroll system, we look forward to including more of our employees in the future. Having an automated payroll system has reduced the workload significantly for our staff, while also increasing our employees' access and control of their own salaries."
This is the first deployment of the international currency and payroll card program under the joint venture agreement between Consorteum Holdings and NxSystems. NxSystems is a leading provider of Global Payment Solutions that offer organizations of every size, and across every industry and geography, a comprehensive suite of innovative electronic payment products that access the global financial network.
For more information, please visit www.nxsystemsinc.com
About Consorteum Holdings, Inc.
Consorteum Holdings, Inc. provides pioneering technology solutions and management expertise to companies and organizations looking to develop and streamline or augment their methods of processing payment transactions. It operates as a technology and services aggregator to meet the diverse needs of its client base by leveraging its wide range ranging partner technologies to develop end-to-end, turn-key card and payment transaction processing solutions. The Company has accumulated extensive expertise within the Payments and Transaction Industry in North America, Europe, and internationally, building its reputation with one goal, "For our customers to look at us as partners, not just a technology provider."
For more information, please visit: www.consorteum.com
About Blue Sea Manning Ltd.
Blue Sea Manning provides first class Officers and Crew for Yachts, Cruise-Ships, and the Offshore Oil industry worldwide. The company headquarter is in London, United Kingdom but it operates on every continent and ocean of the world.
For further information on Blue Sea Manning Ltd., please visit: www.blueseamanning.com
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. We caution that words used in this document such as "expects," "anticipates," "believes," "may," and "optimistic," as well as similar words and expressions used herein, identify and refer to statements describing events that may or may not occur in the future. These forward-looking statements and the matters to which they refer are subject to considerable uncertainty that may cause actual results to be materially different from those described herein. There are numerous factors that could cause actual results to be different than those anticipated or predicted by us, including: (i) a deterioration in economic conditions in general; (ii) a decrease in demand for our products or services in particular; (iii) our loss of a key employee or employees; (iv) regulatory changes, including further changes in the area of credit card regulation or implementation of new regulations in furtherance of the new legislation that may have an adverse effect on the demand for our products or services; (v) increases in our operating expenses resulting from increased costs of labor and/or consulting services; (vi) our inability to exploit existing or secure additional sources of revenues or capital to fund operations; (vii) a failure to collect upon or otherwise secure the benefits of existing contractual commitments with third parties, including our customers; and (viii) other factors and risks identified in our SEC filings. This list provides examples of factors that could affect the results described by forward-looking statements contained in this press release; however, this list is not exhaustive and many other factors could impact our business and it is impossible to predict with any accuracy which factors could result in negative impacts.
Contact Information:
Contacts:
Consorteum Holdings, Inc.
141 Adelaide Street West, Suite 550
Toronto, Ontario, Canada
M5H 3L5
investors@consorteum.com
Telephone: +1-877-414-2774
Astra Thomas
QualityStocks
Scottsdale, Arizona
www.QualityStocks.net
480.374.1336 Office
editor@QualityStocks.net