Net Savings Link Announces Letter of Intent to Acquire a POS Firm in California for the Retail and Delivery Industries
NSAV Announces the formal execution of a Letter of Intent to acquire a California firm that is one of the premier developers of a Point of Sale ( POS ) , traceability, and marketing system that will be providing essential servicing to an emerging market space that is one of the fastest and largest growing retail and delivery industries in he the U.S. We will also be terminating the acquisition process with Bella Vida Brands, Inc.
PORT JEFFERSON, NY / ACCESSWIRE / April 04, 2015 / Net Savings Link, Inc. (OTC: Pink: Symbol NSAV) today has announced through its CEO, Steven Baritz, the formal execution of a formal letter of intent to acquire a Los Angeles, California firm that has effectively prepositioned itself as the premier developer in the capacity of a required and mandated peripheral service provider within one of the fastest growing emerging markets in the
country. This emerging market is currently reporting more than $3.5 billion in annual sales, and is projected to grow by 19% year over year through 2020. Projections beyond that point are still being formulated.
The targeted firm incorporates sophisticated proprietary website and Point of Sale (POS ) systems that are already online and fully functioning in their intended capacity. Mr. Baritz said, "It is an end to end POS system that begins with the production of the products, and provides complete tracking, compliance, accountability, payment and delivery management, and highly sophisticated traceability solutions using Radio Frequency Identification Tagging (RFID) technology that will enable 100% accuracy and accountability throughout the entire POS process. We are also expecting to incorporate a secure mobile application platform of this service to expand the reach through wireless networks to all of the authorized users."
Within the proposed framework of the business plan, it will include provisions for options of franchise and licensing agreements for prospective partners in the various States that are enabling the growth of this industry throughout the United States. Baritz commented, "We believe that there are compelling opportunities for creating significant shareholder value by leveraging the growth potential of this industry by providing a required, and likely a Federal and State mandated service for the manufacturers, vendors, retail outlets, transportation firms and creators of the various products within this rapidly and nationally growing market sector, which also includes several Canadian provinces as well."
On a related note, Baritz commented, "NSAV is currently engaged in discussions with one of the preeminent leaders and developers in RFID technology, and the content of those discussions are pointed towards adding that leadership to NSAV as a personnel asset on the Board of Directors that will virtually eliminate the trial and error process to allow us to facilitate the rapid introduction of this technology to market."
Baritz said, "we are excited by the potential synergy and fluidity that will result from the collaboration between our various leadership opportunities in this new direction that we are heading. We are aggressively engaged with this acquisition target, and we are expecting to close on this acquisition by the filing of our 10-Q on April 15th, 2015."
Mr. Baritz also provided commentary on the termination of the Bella Vida Acquisition: "Regarding the previously announced Bella Vida Brands, Inc., acquisition effort, we have concluded our due diligence in Bella Vida, and determined that they would not be a viable and sustainable partner for a variety of reasons, including revenue projections and the auditing and accounting cost as a result of Bella Vida’s manual bookkeeping practices. Accordingly, we have also dismissed Mr. Leonard Genovese from the Board of Directors, as his services were directly related to the development and growth of the Bella Vida acquisition. We are pleased to announce that his parting was on very positive and constructive terms, and we are not ruling out the possibility of an additional opportunity in the future for Mr. Genovese in our organization."
About Net Savings Link, Inc.
Net Savings Link, Inc. owns and operates a wholly owned subsidiary, Global Distribution Corporation, a distribution company that markets and distributes products in varying industries including the supplement, wellness and natural remedies markets. People interested in learning more about Global Distribution should check back with the company at it’s website, www.Globaldistributioncorp.net.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.
Shareholder Relations Director
Source: Net Savings Link, Inc.
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