LAUREL, Md., March 31 -LFR Communications, Inc. dba http://www.graphcard.com; "Graphcard" or the "Company" is pleased to announce its private placement of 5,000,000 units at $1.00 per unit for total proceeds of $5,000,000.
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Each unit is comprised of one common share (the "Shares") at $ 1.00 per common share (the "Offering"). Insiders will subscribe for a significant portion of the Offering. The Offering is expected to close on or before April 30th 2007.
The proceeds will be used to accelerate sales, marketing efforts, working capital in the United States and to customize our payment gateway to be used for local payments in selected countries.
The private placement is subject to final approval.
About Graphcard:
Graphcard acts as a means of payment for 250 million (1/3) internet users in over 260 countries who don't have access to traditional credit cards. The market is projected to be one third of the world's 750 million internet users.
THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), THE SECURITIES LAWS OF THE STATE OF MARYLAND, OR UNDER THE SECURITIES LAWS OF ANY OTHER STATE OR JURISDICTION IN RELIANCE UPON THE EXEMPTIONS FROM REGISTRATION PROVIDED BY THE ACT AND REGULATION D RULE 506 PROMULGATED THEREUNDER, AND THE COMPARABLE EXEMPTIONS FROM REGISTRATION PROVIDED BY OTHER APPLICABLE SECURITIES LAWS.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
For more information, contact:
George Oluwaboro, cpa Chief Financial Officer
Catherine Berruer, Vice president
LFR Communications, Inc. dba GRAPHCARD.COM
(301) 368-9245
(301) 483-0923 (FAX)
investors@graphcard.net
http://www.graphcard.com/learnmore/
This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.com
