LOS ANGELES, CA--(Marketwired - August 12, 2013) - MediSwipe Inc. (www.MediSwipe.com) (MWIP), a patient security solutions and software development company for the medicinal marijuana and health care industry, and 800 Commerce Inc., an innovative online directory and mobile marketing company, today announced that its Registration Statement on Form S-1/A has been declared effective by the U.S. Securities & Exchange Commission (the "SEC") as of August 9, 2013. The effective notice is available at the SEC's website www.sec.gov, under the Company's SEC filings.
"We are pleased to announce the effective notification allowing the spin-off and pro rata dividend to all of our shareholders, of 800 Commerce. The separation of our two companies will enable each to execute its business independently and this action is a further indication of our commitment to exploit our core vision for both companies and our shareholders. The Board of Directors will be announcing the record date to our shareholders shortly. Both MediSwipe and 800 Commerce will continue to expand their core businesses, recruit outstanding management teams, and will provide for greater liquidity for future acquisitions," stated B. Michael Friedman, CEO of MediSwipe Inc.
MediSwipe stockholders are urged to consult their financial advisors and tax advisors regarding the particular consequences of the distribution in their situation, including, without limitation, the specific implications of selling MediSwipe common stock on or prior to the Distribution Date and the applicability and effect of any U.S. federal, state, local and foreign tax laws.
What you should expect on the 800 Commerce Spin-Off
- All MediSwipe shareholders of record, as of the record date, will be eligible to receive 800 Commerce common stock as a dividend distribution as of the "record date" on the "distribution date." All MediSwipe shareholders will maintain their current share positions in MediSwipe after the spin-off.
- The "record date" will be announced shortly and the "distribution date" of the spin-off dividend or shares of 800 Commerce will be announced upon the NASD providing the trading authorization and a trading symbol.
- All MediSwipe shareholders holding free tradable shares (purchased in the open market) will receive free tradable shares of 800 Commerce as a dividend. All MediSwipe shareholders holding restricted 144 shares will receive restricted 144 non-tradable shares of 800 Commerce as a dividend.
- Investors who would like to participate in the 800 Commerce spin-off must purchase MediSwipe stock in the open market no later than ex-date (to be announced shortly)
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) provides innovative patient solutions for electronically processing transactions within the healthcare industry. MediSwipe provides terminal-based service packages and integrated Web Portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, Electronic Referrals, Credit/Debit Card merchant services, Check Guarantee and Accounts Receivable Financing.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.