We are pleased to report that the planned merger/acquisition of Card Tech International is proceeding on schedule.
Over the coming week the company will be filing the latest quarterly report, announcing details of financing for the completion of product ready for initial pilot projects with prospective customers, announcing details of negotiations of a larger round of funding and a schedule of what to expect from now until 2014.
There will be an adjustment downward of the issued shares of 300,000.
The funding that has been negotiated is debt funding and non-dilutive.
There will be additional releases in relation to the company and products during this period.
In August there will be additional information released regarding the planned move to the NASDAQ.
In September we expect a new CEO and a name change as well as additional board members.