IRVINE, Calif., Feb. 2, 2012 (GLOBE NEWSWIRE) -- Continental Prison Systems, Inc. (Pink Sheets:CPSZ), dba EZ Card & Kiosk, announced today that the release last week of the CPSZ financial statements did not include the results of operations of its wholly owned subsidiary General Payment Systems, Inc. (GPSI). The company is presently compiling the GPSI financial statements and anticipates the release of unaudited information within the next 30 days.
CPSZ, the industry leader in offering financial transaction services to the correctional and judicial markets in the US, launched GPSI in 2011, as a wholly owned subsidiary, in order to focus and concentrate on the special needs of "alternative payment" financial transaction services and expand into the court, probation, municipal police, healthcare, child support, educational and public utilities markets.
For additional information about EZ Card and Kiosk solutions, please visit our website at www.ezcardandkiosk.com.
About Continental Prison Systems, Inc.
Continental Prison Systems Inc. (Pink Sheets:CPSZ), dba EZ Card & Kiosk, has been providing kiosk and internet payment services, as well as inmate release debit card products as a full-suite solution for the creation and management of "Cashless Jail Technology" since 2008. In addition, the company, through its wholly owned subsidiary, General Payment Systems, Inc. (GPSI), offers innovative financial transaction and alternative payment solutions to the courts, probation, municipal police, healthcare, child support, educational and public utilities markets in the US, designed to streamline and reduce many of the operational, financial management and personnel costs required to properly manage these facilities. Via its proprietary software, teamed with customized kiosk hardware and online website services, EZ Card & Kiosk provides a "cashless" solution to the jail market for the Booking process, collecting and depositing cash and credit card Money Load funds into the inmate's trust account, accepting and handling the funds related to the Bail process, and then refunding the inmate's trust account balance at the time of their release by issuing a Debit Card. Similar technologies and systems are also applied to the markets GPSI serves, offering the "cashless" solution for the myriad of alternative payments and reporting requirements of these government agencies and private sector companies, relieving them of many operating cost overheads, as well as further reducing errors and liabilities.
The Continental Prison Systems, dba EZ Card & Kiosk, logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6483
Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.