VANCOUVER, Jan. 12, 2012 /CNW/ - On4 Communications, Inc. ("On4") (OTCBB: ONCI) is pleased to announce that NetCents Systems Ltd. ("NetCents"), with
which On4 has entered into a binding share exchange agreement, has
signed a merchant agreement with Global Storm IT Corporation to
facilitate the processing of their online transactions.
"We are very excited that Global Storm has chosen NetCents to facilitate
their online transactions," stated Clayton Moore, President of
NetCents. "Not only will NetCents be handling onetime payments but
also facilitating the recurring monthly subscriptions demonstrating the
flexibility of the NetCents system," continued Mr. Moore.
About Global Storm IT Corporation
At Global Storm, we are committed to providing you with technology
professionals whose extensive experience in the design and delivery of
mission-critical systems has placed them at the top of their fields.
Our consultants undergo rigorous background screening, interviewing,
and technical skill evaluation before they qualify to join our team.
Their job performance and development are constantly reviewed. We
ensure that those who meet our standards maintain their level of
expertise by investing in their on-going training. Global Storm staff
and consultants provide real-world solutions to a wide range of complex
software problems. Among the challenges we solve every day are:
Administrating infrastructures in UNIX and NT platforms
Client server development
Information system consolidation
Wireless WAN deployment
We have industry expertise in fields which correspond to and complement
the business focus of our clients. Global Storm can support your needs
through all stages of the life-cycle, from functional requirements
through final delivery.
On4 is a development stage company, whose original business was
providing wireless communications solutions to telecommunication
companies, consumers and businesses. Its main 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. Management has identified NetCents
Systems Ltd., a British Columbia based technology company, that is on
the verge of establishing itself as a global contender in the online
payment industry. 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.
NetCent's main asset is a technology that delivers a 100% secure,
self-administered and anonymous payment system developed for the purpose of making safe online purchases
and money transfers. The technology is simple yet innovative and
provides a real-time two-way flow of funds over the web while
protecting the users from identity theft or credit card fraud.
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
Net-Cents 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.
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