mobiclear Announces New Stock Symbol: MOBI
mobiclear, Inc. (OTC Bulletin Board: MBIR; Frankfurt: B3CA), (http://www.mobiclear.com/), owner of the unique, patent pending Personal Identification Verification solutions system to help eliminate credit and debit card fraud, announced that as of the opening of trading today, July 21, 2008, it has obtained a new trading symbol, OTC BB: MOBI, and effected a 250 for 1 reverse stock split.
“The reverse split enables the Company to stabilize and increase shareholder value as we now move forward with a strong product line and experienced management team,” said Stephen P. Cutler, CEO
“Credit and debit card fraud online cost businesses worldwide more than $60 billion a year. Fraud on the Internet discourages many from using it for purchases. We are confident that mobiclear has an answer that would quickly reduce this problem by at least 10 percent, saving businesses more than $6 billion,” said Mr. Cutler.
“Our unique, patent pending Personal Identification Verification solutions system means that, when using a credit card, the mobiclear customer receives a prompt via their cell phone. Responding with the four-digit pin code allows the transaction to proceed. Without the code, the credit card doesn’t work and the purchase fails.
“If someone else were using your credit card, even if they had all the other forms of identification from, for instance, a stolen wallet or pocketbook, without the four-digit code, they can’t use your credit card to steal,” Mr. Cutler said. We are looking forward to introducing this product, and other Internet security products, soon to a marketplace that is eager for these innovations.”
ABOUT mobiclear: mobiclear, Inc. (OTC BB: MOBI; Frankfurt: B3CA), (http://www.mobiclear.com/), headquartered in Manila, Philippines, offers a range of solutions to credit card and debit card fraud based on its patent-pending Personal Identification Verification system. It also offers products to ensure against fraud in all electronic transactions, including telephone and Internet transactions.
Source: mobiclear, Inc.