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WikiLoan Signs Major Deal - Sales May Top $20 Million
Feb 19, 2010 (02:02 PM EST)
WikiLoan Enters Into a Development and Distribution Agreement with SDI Distributors NJ, Inc. to begin its Marketing Push
DELRAY BEACH, Fla., Feb. 19 /PRNewswire-FirstCall/ -- WikiLoan, Inc. (OTC Bulletin Board: WKLI), a financial social network today announced that it has signed a definitive 2 year agreement with SDI Distributors NJ, Inc. (SDI) to develop up to 5 million "Wiki" branded phone and cash equivalent cards to be sold through SDI to the more than 20,000 retail locations it reaches throughout the United States. The agreement may generate up to $20 million in revenue over the next two years, while leveraging the "Wiki" financial brand on the cards gaining valuable exposure to millions of users throughout the country.
"I'm truly excited that we have begun to execute our strategy outlined earlier this year. The deal to develop and market 'Wiki' branded products sold through SDI to the retail locations it reaches will not only generate substantial cash flow, but will advertise our services to millions of people in our target market," said Marco Garibaldi, WikiLoan's Founder and CEO.
"Working with WikiLoan allows SDI to leverage our brick and mortar presence with innovative technology to expand our product offering to our existing customer base, which is a constant goal for our company," said Sohel Kapadia, SDI CEO.
"We are fortunate to have signed a deal with one of the largest phone card distributors in the country. SDI's distribution points will provide WikiLoan exposure to millions of customers nationwide," said Edward C. DeFeudis, WikiLoan's Founder and President.
WikiLoan is a Social Network with a focus on finance. At WikiLoan.com, family and friends can borrow and lend money among themselves at rates suitable to their respective needs. The company's website provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
About SDI Distributors NJ, Inc.
SDI has been a prominent force in the development and distribution of high quality voice and quick connection phone cards for years. SDI delivers its product through a retail distribution chain reaching more than 20,000 U.S. locations and generated over $165 million in revenue in 2009.
Investors may contact: WikiLoan, Inc., 561-865-5310.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company's dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company's products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.
SOURCE WikiLoan, Inc.