LOS ANGELES, Oct. 16, 2012 /PRNewswire/ -- The Wiki Group, Inc. ("Wiki Group", or "the Company") announced in February of 2012 that it signed a comprehensive distribution agreement for the WikiPay platform with Prouty Company LLC (ProutyCo). At the time of the February announcement, the Company believed revenue could be substantial, and maintains the belief that the partnership still has significant potential. However, there have been technical delays.
The following is an update from ProutyCo:
"Due to unforeseen technical and logistic issues related to several key ProutyCo distribution partners, PrePro has delayed rollout of WikiPay across multiple networks pending completion of crucial elements necessary for the successful launch and sustained growth of the program. While these issues are being addressed, a phased rollout through several carrier and agent partner channels will be implemented beginning November 1st, 2012. This will allow PrePro and WikiPay to soft-launch the program in the near-term and address any technical or distribution-related issues which may arise. 'We view WikiPay as a valuable strategic partner in the continued growth of our prepaid business, and look forward to leveraging the program for multiple domestic and international opportunities in the months to come,' said Phil Prouty, President and CEO of Prouty Company LLC."
ABOUT THE WIKI GROUP, INC.
The Wiki Group, Inc. owns and operates two proprietary state-of-the-art technology platforms, WikiPay and WikiLoan.
WikiPay is a low-cost, cash-based mobile payment and marketing platform solution for Peer-to-Peer (P2P), Business-to-Consumer (B2C), Consumer-to-Business (C2B), and Business-to-Business (B2B) transactions. The main pull for WikiPay is its low transaction fees. WikiPay is FREE for payments between members. Additionally, WikiPay's mobile marketing application, WikiBlast, enables merchants to reach their client base instantly with a variety of customizable SMS marketing programs. For more information, please visit: www.wikipay.com or the mobile website: m.wikipay.com.
WikiLoan is a low-cost peer-to-peer lending platform that works through the participation and collaboration of family and friends through social networks. The company's website www.wikiloan.com 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 PROUTY COMPANY LLC
Prouty Company is a global provider of financial and telecommunication products and services supporting over 100,000 retailers and strategic partners worldwide. ProutyCo has divisions, which exceed $1 billion in revenue annually. (www.proutyco.com)
FORWARD LOOKING STATEMENTS This news release may include "forward-looking statements" regarding WikiLoan, and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where WikiLoan expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. WikiLoan does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
CONTACT: Investors may contact: Ben Hansel (720) 288-8495 firstname.lastname@example.org
SOURCE The Wiki Group, Inc.