Tuesday March 13, 7:27 am Eastern Time
Press Release
The Ohio & Southwestern Energy Company - Strategic Profits Inc. Receives
IRAP Approval for Funding of Automated Billing Application
VANCOUVER, B.C.--(BUSINESS WIRE)--March 13, 2001--THE OHIO & SOUTHWESTERN
ENERGY COMPANY (OTCBB:OSWE
- news) and Strategic
Profits Inc. (SPI), ``traded publicly through its parent under the symbol OSWE -
OTCBB'', secure payment service providers since 1997, and provider of
e-solutions since 1994, today announced that the Industrial Research Assistance
Program (IRAP) has approved funding for the development of a Windows based
software application for recurring credit card processing.
The beta testing is scheduled to begin April 9, 2001.
The software will provide Merchants the ability to generate a database of
recurring credit card transactions through a Windows based software application.
The transactions will then process automatically according to the schedule the
merchant sets up. An e-invoice and e-receipting functionality is also provided
within the application. The interface is user-friendly, creates browser-based
reports and allows the database to be downloaded to other desktop applications.
This system will work in conjunctions with SPI's existing Verifone Payworks 3
payment engine.
``This application will provide merchants who have recurring monthly credit
card billings, like membership fees, subscriptions or payment plans, etc., with
a simple to use desktop application that automates the process,'' says Catherine
Clarke Luckhurst, President and CEO of Strategic Profits, Inc. ``Merchants can
now realize the following benefits: less manpower - as re-keying credit card
data is no longer required; less errors - data is only input once; better record
keeping - management reports are built in; sensitive data can be kept within one
secure and encrypted application.''
IRAP's mandate is to stimulate wealth-creation for Canada through
technological innovation. IRAP is designed to help Canadian small and
medium-sized enterprises (SMEs) meet the technological challenges they face in
delivering new products, processes or services. IRAP is the National Research
Council's (NRC) award-winning innovation assistance service for small and medium
sized enterprises. The NRC is a Government of Canada Agency.
About Strategic Profits, Inc.
Strategic Profits Inc. (SPI) has been providing Internet commerce solutions
to SME's and not-for-profit and charities since 1994 including secure credit
card transactions since 1997. SPI provides full Internet service offerings
including online education, web hosting and design, Internet marketing, secure
shopping cart and payment order systems, as well as secure payment transactions
through Moneris Solutions and through out North American with GPS. Secure cash
transactions are available through their partners, Hyperwallet.com! In 1998 SPI
launched the communitystorefronts.com e-commerce pilot with their consortium
partners Industry Canada, Royal Bank of Canada. Today communitystorefronts.com
is a fully commercialized portal offering online shopping, fundraising, and
turnkey e-commerce solutions at web address, http://www.strategicprofitsinc.com.
Feb. 1, 2001 SPI, Hewlett Packard Canada Ltd. and TELUS announced an alliance to
deliver a new generation secure Internet-based credit card payment service...PayPaq(TM)!
Shares issued: 12,148,384
Statements regarding financial matters in this press release other than
historical facts are ``forward-looking statements'' within the meaning of
section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The company intends that such statements about
the Company's future expectations, including future revenues and earnings, and
all other forward-looking statements be subject to the safe harbors created
thereby. Since these statements (future operational results and sales) involve
risks and uncertainties and are subject to change at any time, the Company's
actual results may differ materially from expected results.
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