LOS ANGELES, CA--(Marketwired - September 03, 2013) - MediSwipe Inc. (www.MediSwipe.com) (MWIP), the leader in Compassionate Care Technology Solutions for the medicinal marijuana industry and 800 Commerce Inc., an innovative online directory and mobile marketing company, today confirmed the record date of September 3, 2013 for the issuance of the stock dividend and spin off of 800 Commerce Inc. MediSwipe will be distributing 6,000,000 shares of 800 Commerce, Inc.'s common stock (representing all of the shares of 800 Commerce, Inc. that Mediswipe owns).
The restricted stock dividend will be paid in the following manner. For approximately every 150 shares that a shareholder owns of MWIP they will be paid 1 share of common stock of 800 Commerce, Inc. Each shareholder has to hold their shares of MWIP stock through the shareholder of record date of September 3, 2013 to be eligible to receive their dividend.
For example if a shareholder is holding 500,000 shares of MWIP common shares through September 3, 2013 then that shareholder will receive approximately 3,333 shares of 800 Commerce, Inc. common stock.
"Thank you to all shareholders who have stayed with the company long term. The company is working on several exciting developments and is focused on increasing its assets and revenue base to increase shareholder value. This dividend is the first step in this process," stated B. Michael Friedman, for 800 Commerce Inc. and MediSwipe Inc.
800 Commerce Inc. is now in the final stages of completing its 15C-211 filing so that its common stock may be quoted on the OTC Bulletin Board. The dividend will not impact the number of shares outstanding for 800 Commerce or any shareholder's holdings of MediSwipe shares.
Investors are encouraged to consult with their financial advisors regarding the specific consequences of selling MediSwipe common shares on or before the record date. Shareholders are urged to consult with their tax advisors as to the specific tax consequences of the distribution. No action is required for MediSwipe shareholders to receive their 800 Commerce common shares.
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 an 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.
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.