November 5, 2008
Paivis, Corp. Provides Shareholder Update
Paivis, Corp. (PINKSHEETS: PAVC) ("PAIVIS" or the "Company") today updates its shareholders on its planned merger with Trustcash Holdings, Inc. as well as additional business developments.
In July 2008, Paivis attempted to complete all required deliverables of the due diligence items presented by Trustcash and had pushed for the consummation of the merger in August 2008. However, the recent credit crisis and general market conditions, have impacted the sourcing of capital.Paivis continues to work closely with Trustcash and the Company still believes that the merger is a logical plan to pursue for our mutual organizations. This belief is supported by the operational efficiencies that have already been achieved by the integration of customer services as well as other back office operations.
As a result of these operational efficiencies, both companies are already realizing cost-savings of the planned merger. Furthermore, we have started to execute our plan to integrate a Trustcash physical debit card with our distribution network as discussed in previous press releases.
Additionally, Paivis would like to reassure its shareholders of its commitment to expand on our core business and deliver shareholder value. To that end, the Company has spent the last few months working on major initiatives that are anticipated to have a positive impact on the business and shareholder value. We look forward to announcing further developments as we continue to execute our business plan.
About Paivis, Corp.
Paivis, Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets.
The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.
Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate,""believe,""plan,""estimate,""expect,""intend,""will,""could" and other similar expressions, constitute forward-looking statements under the PSLRA. PAIVIS intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause PAIVIS' actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in PAIVIS' annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at http://www.sec.gov.
Contact: Paivis, Corp. Phone: 404-601-2885 www.paivis.com
SOURCE: Paivis, Corp.