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mobiclear Says It Could Avoid Illegal Use of 100 Million Credit Cards
Thursday, August 07, 2008
MANILA, Philippines and LAGUNA HILLS, Calif., Aug. 7
/PRNewswire-FirstCall/ -- mobiclear, Inc. (OTC Bulletin Board: MOBI),
(http://www.mobiclear.com), owner of the unique, patent pending Personal
Identification Verification solutions system to help eliminate credit and
debit card fraud, said today that the U.S. Justice Department's announcement
that more than 41 million credit and debit card numbers have been stolen is
excellent evidence on why the system mobiclear is bringing to the world's
marketplace is so vital.
"The stunning news that perhaps 100 million credit and debit cards in
total could be impacted is as good as an advertisement for the merits of our
products," said Stephen P. Cutler, mobiclear CEO.
"Based on Personal Identification Verification technology that requires an
immediate cellphone/telephone PIN confirmation via an encrypted voice net by
the card holder for a transaction to be approved, mobiclear has invented a way
to allow consumers to either confirm a transaction via using their PIN
confirmation by cellphone, or to switch off their credit and debit cards when
not in use. Use of the mobiclear technology tremendously reduces the ability
of hackers to improperly use credit cards," Mr. Cutler said.
"Our unique, patent pending Personal Identification Verification solutions
system means banks can offer customers a whole new level of protection," Mr.
Cutler said. "We can ensure that a credit card won't be illegally used."
The data breach announced today in Washington, D.C., is believed to be the
largest hacking and identify theft case ever.
ABOUT mobiclear: mobiclear, Inc. (OTC BB: MOBI),
(http://www.mobiclear.com), headquartered in Manila, Philippines, offers a
range of solutions to credit card and debit card fraud based on its patent-
pending Personal Identification Verification system. It also offers products
to ensure against fraud in all electronic transactions, including telephone
and Internet transactions.
Note: Certain statements in this news release may contain "forward-
looking" information within the meaning of rule 175 under the Securities Act
of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the
safe harbor created by those rules. We use words such as "anticipate,"
"believe," "expect," "future," "intend," "plan," and similar expressions to
identify forward-looking statements. These statements including those related
to being in a large and growing market, exhibiting rapid growth
characteristics, and having a growth strategy, are forward looking statements.
These forward looking statements are only predictions and are subject to
certain risks, uncertainties and assumptions. Some of the risks, uncertainties
and assumptions that could cause actual results to differ materially from
estimates or assumptions in this press release include the risk that we will
not be able to grow our revenues and market share, the risk that our prices do
not remain competitive and the risk that we will not achieve profitability.
Additional risks are identified and described in the Company's public filings
with the Securities and Exchange Commission, including our most recent Report
on Form 10-KSB, and Reports on Form 10-Q and Form 8-K. 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.
CONTACT: mobiclear, Inc.
Paul Knopick
E & E Communications
(949) 707-5365
investorrelations@mobiclear.com
pknopick@eandecommunications.com
SOURCE mobiclear, Inc.
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