cMoney, Inc. Updates Shareholders on S-1 Filing

READ ALSO:

McAfee Updates Mobile Security With Remote Tracking, Data Wipes McAfee introduced a new version of Mobile Security to protect smartphones and tablets from malicious applications and Web malware. Mobile Se ... Adobe halts Flash player support for all future Android updates 8217;t strictly limited to premium video applications either. The home monitoring application Dropcam was originally built on the the AIR pl ... Xerox Mobile Scanner wirelessly sends files to your PC, iOS or Android device If you're like us, you have to deal with your fair share of expense reports. Xerox is looking to make the task a bit easier with the Mobile ... Google Maps 6.0 includes indoor mapping of Macy's, IKEA, airports 39;s IPO: Could it come in the first half of 2012? Cyber Monday sales up 33%, new sales records set, IBM says -- Deborah Netburn Image: The ... iPhone 4S helps Apple inch past Android in the US (Credit: Apple) Apple gained a slight edge over Android in the U.S. smartphone market last quarter, courtesy of the 37 million iPhones sold. ... Facebook Messenger updated for iPhone 5 The Facebook environment on iOS for iPhone has been bumped upward once again with the Messenger app grabbing an update with a whole new user ... Ubuntu's full desktop OS coming to multi-core Android devices (update: video) What the Atrix 4G first promised, it looks like the folks at Canonical may deliver. Think back to CES 2011, when Motorola showed us a future ... Nokia announces 808 PureView: Belle OS, 4-inch display, 41-megapixel camera(!) Show full PR text Nokia 808 PureView ushers in a revolution in smartphone imaging Nokia sets a new industry standard with the first in a ra ...

HOUSTON, Nov 28, 2011 (GlobeNewswire via COMTEX) -- cMoney, Inc. /quotes/zigman/605671 CMEY 0.00% , a leading technology company at the forefront of the international mobile phone-based payment and money transfer service, announced today the necessary process that will lead to the completion of all prerequisite information for their public filing. "We are taking incredible strides at cMoney in preparing for our upcoming S-1 filing, which will have the Company trading on a more prestigious and transparent platform," stated Paul Matthews, CEO of cMoney, Inc. "After receiving many questions from our interested shareholders regarding our upcoming registration, we decided to take the initiative and provide a status report in-line with our totally transparency."

cMoney continues with late-stage negotiations with funding partners and various investors to continue financing Company operations and the associated costs with the S-1 filing. Following a successful filing and SEC approval, cMoney will access the previously announced equity financing agreements totaling $115 Million based on previously disclosed provisions being met.

"Our next steps include taking the last 8 quarters of unaudited financials as lodged with the OTC Markets and adding financial notes, which is estimated to take a month," continued Matthews. "These 'noted' financials are then sent to our auditors to complete their financial audit. They will then deliver the documentation to our Company's counsel, who will then prepare the legal submission of the S-1 and submit to the SEC. Next comes specific rounds of questions from the SEC, which are answered by our counsel and returned back to the SEC for final approval," concluded Matthews.

"Although it has been reported that the SEC and financial regulators are backed up with an excess of reviews, we have experienced a rather quick turnaround on filings, approximately 10-12 weeks from submission till approval," stated Jeffrey Staller, President of Heritage Corporate Services, Inc. "We're very confident that as soon as the first round of funding is received by cMoney, the Company will be on track to complete the approval process in this timeframe. We urge shareholders to continue following upcoming Company announcements and prepare for a successful 2012 for cMoney."

About cMoney, Inc.

cMoney provides innovative secure mobile payment solutions for mobile phone users, retailers and financial institutions globally. The Company has developed an innovative way to send and receive money, pay for goods and services during a POS or online transaction, conduct transactions on their customized ATMs, and provide an online banking atmosphere utilizing patented mobile phone and text messaging technology. Scheduled to debut in 2012, the pioneering technology will create a "virtual wallet" which will eliminate exposure to identity and credit card theft for users. It can be used anywhere that cash, checks, debit or credit cards are accepted.

Safe Harbor Statement

Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: cMoney, Inc.

CONTACT: cMoney, Inc. Paul Matthews, CEO (713) 589-5393 ext. 105 contactus@cmoney.com Or Heritage Corporate Services, Inc. Jeffrey Staller, President (561) 210-5675 Jeffrey@HeritageCorporateServices.com

(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.