This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

PYDS CEO Comments On Trading Events Of August 22, 2013

SAN ANTONIO, Aug. 23, 2013 (GLOBE NEWSWIRE) -- Michael Long, Chairman and Chief Executive Officer of Payment Data Systems, Inc., (OTCBB:PYDS) provides the following comments. "As part of the widespread trading outage yesterday, trading in our stock was temporarily halted. We believe it would be inappropriate to comment on the reason for the trading outage or even to try to define exactly what occurred. And we cannot determine with any degree of certainty that the outage had any effect on the trading of our stock for the day. However the coincidence of the decrease in our closing price and the timing of the outage is at a minimum "interesting."

Mr. Long added the following updates to the mid-August earnings announcement, "What we can comment on, with confidence, is that the fundamentals of the company have not changed since our public statements released on August 14, 2013.

"This quarter, we continued our record-setting growth in credit and debit card processing. We intend to position our Company for a national listing and believe we are being strategic in our plans to accelerate the growth of Payment Data Systems. We continue to be debt free and are seeing continued interest by new prospective customers for our services, including financial institutions."

"As we reported in mid-August, we continue to invest in the development of an innovative product line to allow financial institutions to offer turn-key prepaid card programs that allow their respective customers to upload personal photos to the image on the front of the card. These products include gift cards, corporate incentive pre-paid, general purpose reloadable pre-paid, and payroll cards. Additionally, based on current discussions with both banks and potential customers, we anticipate the restoration of a significant portion of our echeck revenue by late 3rd quarter of 2013 carrying us into 4th quarter, which should lead to our return to quarterly income generation. Let me emphasize that this continues to be in line with our reported expectations."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs