SARASOTA, Fla., July 25 /PRNewswire-FirstCall/ -- Morgan Beaumont, Inc.
(OTC Bulletin Board: MBEU), a premier technology solution provider to the
Stored Value and Debit Card market and owner of the SIRE Network(TM), today
announced that it has added key personnel to its technology division in order
to optimize the continued deployment and overall functionality of the SIRE
Network.
Dan Davis has joined the company as Vice President of Technology. He will
be responsible for providing strategic direction to the entire Engineering
team as well as the management and development of Morgan Beaumont's technology
and telecommunications platforms including the SIRE Network.
Cliff Wildes, CEO of Morgan Beaumont, stated, "We are very pleased to
announce that Dan has joined our senior management team, as he brings with him
valuable expertise in prepaid card technology and POS software development.
Dan will provide the direction and leadership to Morgan Beaumont's newly
expanded engineering, IT, and technology departments; which will better enable
us to quickly and effectively develop and launch new programs and products for
our customers.
"Dan is also the pioneering developer of Morgan Beaumont's proprietary
Distributor Transaction Management (DTM) application which positions the
company at the forefront of the industry in channel management and transaction
reconciliation," added Wildes. "Our DTM software provides our distribution
partners an interface allowing them to set up, manage, and monitor the Morgan
Beaumont card products delivered to their down-line distribution and merchant
locations. Distributors can view and generate reports on card inventory
levels, transactions and commissions earned throughout their channel. The
commercial launch of the DTM application is August 2005."
Prior to joining Morgan Beaumont, Mr. Davis was the founder of Switching
Solutions, Inc. (SSI) and former COO of Tel-Ops LLC and Galaxy Long Distance,
Inc. He brings over seventeen years of expertise in telecommunications
operations, engineering and software development; most recently, with POS
software development in the prepaid debit card industry.
The new resources employed to optimize Morgan Beaumont's Sire Network
technology will also be focused on continued POS terminal development. The
company currently supports many of VeriFone's TCL based and VERIX based
terminals with VMAC support; which allows our SIRE Network application to
co-exist with other POS applications on the same terminal. This includes
mainstream terminals such as the Tranz330, Tranz460, Omni3740, and Omni3750;
as well as continued development on several other makes and models of POS
devices.
Morgan Beaumont, Inc. is a Technology Solutions Company located in
Sarasota, Florida. The company is one of the premier providers of Stored
Value and Debit Card Solutions in the United States. The company has
developed POS and PC based software that connects merchants with multiple
Stored Value Processors and Issuing Banks, in addition to private transaction
networks and IVR and CRM technology. Morgan Beaumont is a MasterCard Third
Party Processor (TPP). The company owns and operates the SIRE Network, a
national network of Stored Value and Debit Card load stations located
throughout the United States. To learn more about Morgan Beaumont, please
visit http://www.morganbeaumont.com .
"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995
Statements about the expected future prospects of our business and all
other statements in this release other than historical facts, constitute
forward-looking statements. You can identify forward-looking statements
because they contain words such as "believes," "expects," "may," "will,"
"would," "should," "seeks," "approximately," "intends," "plans," "estimates,"
or "anticipates" or similar expressions which concern our strategy, plans or
intentions. All statements we make relating to estimated and projected
earnings, margins, costs, expenditures, cash flows, growth rates and financial
results are forward-looking statements. In addition, we, through our senior
management, from time to time make forward-looking public statements
concerning our expected future operations and performance and other
developments. All of these forward-looking statements are subject to risks
and uncertainties that may change at any time, and, therefore, our actual
results may differ materially from those we expected. We derive most of our
forward-looking statements from our operating budgets and forecasts, which are
based upon many detailed assumptions. While we believe that our assumptions
are reasonable, we caution that it is very difficult to predict the impact of
known factors, and, of course, it is impossible for us to anticipate all
factors that could affect our actual results. Some of the factors that we
believe could affect our results include: general economic and market
conditions, including the lingering effects of the economic slowdown and
services revenue; the overall condition of the bank card industry, including
the effect of any further consolidation among financial services firms; the
regulatory, credit and market risks associated with our operations; the
integration of acquired businesses, the performance of our businesses; the
effect of war, terrorism or catastrophic events; the timing and magnitude of
sales; the timing and scope of technological advances; the ability to retain
and attract customers and key personnel; and the ability to obtain patent
protection and avoid patent-related liabilities in the context of a rapidly
developing legal framework for software and business-method patents. The
factors described in this paragraph and other factors that may affect our
business or future financial results and when applicable, are discussed in our
filings with the Securities and Exchange Commission, including our Form 10-K,
a copy of which may be obtained from us without charge. We assume no
obligation to update any written or oral forward-looking statement made by us
or on our behalf as a result of new information, future events or other
factors.
Contacts: Jeff Kratsch, Director of Marketing
Morgan Beaumont, Inc.
941-753-2875 Ext. 2711
Ken Dennard, Managing Partner
ksdennard@drg-e.com
DRG&E / 713-529-6600
SOURCE Morgan Beaumont, Inc.
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Related links:
http://www.morganbeaumont.com
CONTACT:
Jeff Kratsch, Director of Marketing of Morgan
Beaumont, Inc., +1-941-753-2875, ext. 2711; or Ken Dennard,
Managing Partner of DRG&E, +1-713-529-6600, or
ksdennard@drg-e.com , for Morgan Beaumont, Inc.
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