ATLANTA, GA -- (Marketwire) -- 11/20/08 -- Paivis, Corp. ("PAIVIS" or the "Company") (PINKSHEETS: PAVC) today released a letter from its Chief Executive Officer to its shareholders.
I am publishing this letter first to introduce myself to the shareholders of Paivis and to communicate our goals and directions for our company. I accepted the role as CEO of Paivis prepared to face extremely difficult challenges. These are, and will continue to be, very difficult times for Fortune 500 companies and smaller companies such as ours. Every day it seems there is a familiar name facing financial turmoil that creates panic and fear among investors. However even in these difficult times, there are opportunities for those that are capable to take advantage of them. We are attempting to do just that.
Paivis, for simplicity purposes, is a telecommunications carrier that sells prepaid "point-of-sale activated" and live telephone calling cards. Our revenues are generated through the sale of these calling cards throughout many of the country's major retail outlets. The TrustCash merger would have expanded the prepaid services that the company offered, but not necessarily the telecommunications aspect of the business. My immediate focus is to develop, internally and through strategic mergers and acquisitions, the core of our business.
For many reasons Paivis has not been able to implement its business plans effectively. The merger agreement previously disclosed with Trust Cash is just one example. It is not due to lack of effort. Management has entered into negotiations time and again for potential mergers and acquisitions. They have met with the finance community for purposes of raising additional capital or financing to assist the company with its initiatives. There has been some success and some failures, but they have always been diligent in their efforts. Access to financing in the last year has been virtually impossible even for some of the nation's largest companies.
Since being invited to assume a leadership role with the company, I have been working every day with our staff and Board building on our plans. Collectively we are confident that perseverance, hard work, dedication and an ability to seize opportunities will eventually come together to produce success. We are mindful that success is almost always preceded by disappointments and delays, but quitting is never an option. We simply must work harder and smarter to achieve our goals.
We have put forth several announcements of late that should give the shareholders and financial community comfort that we are attempting to focus our efforts in expanding our core business, which is telecommunications services. While we are not ruling out a relationship of some sort with Trustcash, the focus is on growing Paivis achieving profitability and creating value for our shareholders as quickly as possible. I hope in the coming weeks and months our shareholders' patience is tangibly rewarded by our efforts.
Lawrence Sands, CEO, Paivis, Corp.
About Paivis, Corp.
Paivis, Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets.
The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.
Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. PAIVIS intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at http://www.sec.gov.