VANCOUVER, Jan. 24, 2012 /CNW/ - On4 Communications, Inc. ("On4") (OTCQB: ONCI) is pleased to announce that NetCents Systems Ltd. ("NetCents"), with
which On4 has entered into a binding letter of intent to acquire 100%
of the outstanding shares of NetCents, has signed a Merchant Agreement
with the Western Arctic Conservative Association.
"We are very pleased to be providing our technology and services to one
of the constituencies of the Conservative Party of Canada," stated
Clayton Moore, President and CEO of NetCents. "To be recognized by the
governing political party is definitely a feather in our cap. We are
confident our technology will meet and surpass expectations and are
looking forward to becoming the standard for processing online
political donations for all the constituencies right across Canada"
continued Mr. Moore.
NetCents is a seamless, transparent enabling technology adopted by
financial institutions to allow their clientele the option of
conducting financial transactions on the web in a secure fashion
without the use of credit card information. Triggered by a valid email
address, the Company uniquely delivers a 100% secure, self-administered
and anonymous payment system for the purpose of making safe online purchases and
transferring funds. It enables a simple yet innovative, swift, two-way
flow of funds when paying for goods and services over the Internet.
NetCents provides the merchant with the means to connect with all
consumers whether or not they hold direct access to a credit card.
This payment option for consumers and merchants provides peace-of-mind
with no fear of identity theft or credit card fraud.
On4 is a development stage company, whose original business was
providing wireless communications solutions to telecommunication
companies, consumers and businesses. Its initial technology was a
platform that was comprised of a global positioning management system
that was able to track people, pets, assets and inventory via two-way
communication devices such as Web browsers, instant messengers and
mobile phones. On4 has been actively seeking other promising projects
in the technology sector that will continue to add to the bottom line
and enhance shareholder value. On December 15, 2011 On4 entered into a
definitive Share Exchange Agreement with NetCents Systems Ltd.
("NetCents") where at closing On4 will acquire 100% of the issued and
outstanding shares of NetCents and NetCents will become a wholly owned
subsidiary of On4.
The Company is a Development Stage Company, as defined by Financial
Accounting Standards Board ("FASB") Accounting Standards Codification
("ASC") 915, Development Stage Entities, and has not yet generated significant revenues from their intended
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements. Actual
results may differ materially from those described in forward-looking
statements and are subject to risks and uncertainties. See On4's
filings with the United States Securities and Exchange Commission which
may identify specific factors that may cause actual results or events
to differ materially from those described in the forward-looking
SOURCE On4 Communications, Inc.
For further information:
please contact: 480-525-4361 or 888-583-7158
On the web: www.on4communications.net or www.net-cents.com