ATLANTA, GA--(Marketwire - 03/29/10) - TRUSTCASH HOLDINGS, INC. ("TRUSTCASH") (Pinksheets:TCHH - News) today confirmed that it has signed a definitive Term Sheet outlining the terms for the acquisition of 25% of Alligato Inc. Concurrently, Trustcash has also agreed to enter into a software development agreement with Alligato for the purposes of developing a Mobile WAP based payment platform and providing ongoing technical support. Pursuant to the Term Sheet Twenty Five Thousand dollars was advanced to Alligato to begin work on the new mobile platform.
Alligato markets its service under the http://www.celllongdistance.com/ brand.
Alligato™ delivers the most sophisticated, comprehensive voice 2.0 platform available. The technology infrastructure provides the first truly open access to carrier-grade telecom functionality with hardware, software and network capacity to lower the cost of cell phone long distance from the wireless network to the Public Switched Telephone Network (PSTN) as an on-demand, fully hosted and managed service in a CaaS (Communications as a Service) model.
The Alligato service enables large member based organizations, existing service providers, application providers and web communities, to provide cell phone long distance for their customers and members with greater quality and at significantly lower costs (up to 90% savings).
Trustcash Management comments: "We are fortunate that Mr. Ajay Hans and the Alligato team have agreed to create a closer relationship with us. We look forward to working towards a definitive agreement and a closing. The added revenue stream(s) and the professional expertise Alligato provide bring us perspective and opportunity."
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About Trustcash
The Trustcash™ platform delivers a sophisticated, comprehensive online payment processing system.
The Trustcash technology infrastructure provides merchants with open access, PCI compliant payment processing. Trustcash™ is an E-Commerce expert providing online businesses with payment solutions needed to be successful.
Cautionary Statement Regarding Forward-Looking Statements
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the sufficiency of existing capital resources, technological changes and uncertainties related to the development of Trustcash's business model. The actual results Trustcash may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
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