CLEARWATER, Fla.--(BUSINESS WIRE)--March 5, 1999--Pinnacle Business Management, Inc. (OTC BB:PCBM) (http://www.pcbm.com) announced Friday the formation of a franchising division and subsidiary as the first step to completing Phase Three of its 1999 Strategic Plan. The initial rollout will take place by June.
PCBM is in the business of lending money on motor vehicle titles and advancing small loans payday, with an increasing position in commercial real estate. In Phase Three, Pinnacle Business Management, Inc. intends to consolidate a fragmented industry with over 6,000 independent companies into a cohesive, self-contained consumer cash resource.
"Pinnacle will expand its role as a resource for people who have been shut out of the economic mainstream due to modest earning power, poor credit history or other circumstances beyond their control. We are on the way to becoming a fully integrated provider of alternative consumer cash resources and a key provider of E-Commerce cash and checking transaction services. Our branded Pinnacle Cash Card will be available free to all clients. They will use their Pinnacle cards to buy over the Internet what now has only been available to those with Credit Cards or Checking Accounts. The next several months will be both exciting and rewarding to PCBM and its supporters," said Bruce Hall, President of Pinnacle Business Management, Inc.
PCBM's proprietary technology base takes advantage of the ongoing growth of E-Commerce popularity and will enable purchasers to easily use personal checks or Pinnacle's branded Cash Card on the Internet. The realm of E-Commerce can then include consumers who cannot, do not, or will not use Credit Cards for purchases. This proprietary technology will also enable merchants to be paid faster, and goods will be shipped sooner.
Pinnacle Business Management, Inc. (OTC BB:PCBM) (http://www.pcbm.com) operates through its subsidiaries Fast Title Loans, Inc. and Fast Paycheck Advance, Inc. which are both consumer lending divisions, and Summit Property Group, Inc. a commercial real estate division. These divisions combine a strong asset base and a strong consumer finance organization, which contribute to increased income and shareholder wealth.
PCBM will become a reporting company by June 1999. Additional information is available through the company's web site or by calling the contact below.
PCBM intends to become the premier facilitator of E-Commerce cash and check transactions accessed or found through Internet portals, such as Yahoo! (Nasdaq:YHOO), Excite (Nasdaq:XCIT), Lycos (Nasdaq:LCOS) or Infoseek (Nasdaq:SEEK), and shopping networks such as Amazon (Nasdaq:AMZN), E-Bay (Nasdaq:EBAY), Dell Computer Corp. (Nasdaq:DELL), Ticketmaster Online (Nasdaq:TMCS), Bid.com Inc. (TSE:BII.TO), Onsale Inc. (Nasdaq:ONSL), Ubid Inc. (Nasdaq:UBID) or USA Network Inc.'s Home Shopping Network (Nasdaq:USAI).
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international op
