IRVINE, Calif., June 12, 2013 (GLOBE NEWSWIRE) -- Continental Prison Systems, Inc. (OTC:CPSZ) (the "Company") is pleased to announce its annual shareholders meeting has been scheduled for 11:00 a.m. on July 16, 2013 (the "Meeting"). The Meeting will be held at the Irvine Marriott, which is located at 18000 Von Karman Avenue, Irvine, CA 92612. A formal notice of the Meeting will be sent to all shareholders of record as of the end of trading June 14, 2013.
During the last 18 months, the Company completed private offerings totaling approximately 470,000,000 shares leaving the Company with 865,746,365 shares of common stock issued and outstanding.
At the Meeting, the Company will discuss the status of its independent financial audit and its plans to transition to fully reporting status under the Securities Exchange Act of 1934 as well as the following matters:
(i) Consideration of a reverse stock split through which the issued and outstanding shares would be reversed one for one hundred, while the authorized shares would be reversed one for ten;
(ii) Consideration of changing the name of the Company to General Payment Systems, Inc. reflecting the Company's increasing expansion into court, probation and government service payment products and services;
(iii) Such other matters as may lawfully be brought before the Meeting.
Ron Hodge, President of the Company provided the following comments: "We have a number of exciting developments in our products, services and market share which we will begin releasing to the stock market between now and the shareholders meeting. The previous 12 months have been a productive period for the Company as it secured resources sufficient to support a fully reporting public company. We are prepared to address any questions or concerns of our shareholders at our shareholders meeting and would like to thank our shareholders for their patience and support. We remain cautiously optimistic that our company's performance will now reward our shareholders and other supporters and that obtaining fully reporting status will allow our company's successes to be appreciated by a much broader constituency of retail and institutional investors."
About Continental Prison Systems, Inc.
Continental Prison Systems, Inc. (dba EZ Card and Kiosk) is a technology company that provides government agencies with proprietary hardware (kiosks) and cloud based software systems that automate the process of collecting payments from the general public (cash, debit, and credit). These systems deliver payment acceptance, real-time accounting and payment risk-mitigation services. The Company distributes these technologies through direct sales channels, channel partners, and various licensed entities.
For more information, please visit www.ezcardandkiosk.com
Certain statements made in this announcement may constitute "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. Management cautions that these statements are based on management's current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of the Company that could cause actual results and events to differ materially from the statements made herein. The risks and uncertainties include, but are not limited to, the Company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, and the need to raise funds for operations. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance isn't necessarily indicative of its future performance. The Company doesn't undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
CONTACT: Integrity Investor Relations www.IntegrityIR.com (702) 396-1000Source:Continental Prison Systems, Inc.