MANILA, Philippines, April 1 /PRNewswire-FirstCall/ -- VerifySmart Corp. (VSMR: OTCBB), (formerly, Treasure Explorations Inc.): Announces the company has entered into a Joint Venture Agreement with Verified Transactions Corp. effective March 26, 2009. As part of this transaction the company's former name, "Treasure Explorations Inc." has been changed to "VerifySmart Corp." The name change became effective with the Over-the-Counter Bulletin Board at the opening for trading on March 24, 2009 under the new stock symbol VSMR.
The ownership and respective revenue interests and contributions of the parties under this Joint Venture shall be shared as per the Form 8-K filed with the Securities and Exchange Commission (the "SEC"). The document will be available through the SEC's EDGAR website on Thursday, March 26, 2009. VerifySmart Corp. shall be the operator and/or manager of the JV Assets and the Joint Venture.
About VerifySmart Corp.
VerifySmart Corp. is a fully reporting issuer with the shares traded on the "OTCBB". The company's mandate is to market, sell and manage fraud prevention products and services as an exclusive licensee. An international company, VerifySmart's patent-pending technology is garnering world wide attention and rapidly gaining acceptance across a security challenged industry.
Forward Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this current report which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the closing of the joint venture agreement, the ability to contribute an aggregate of $5,000,000 to the joint venture corporation, the acquisition of Verified Capital Corp., or the receipt of any future patents or the acceptance of the company's technology by the security industry.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainty of financial estimates and projections, the competitive and regulatory environment for start up software companies, stock market conditions, unforeseen technical difficulties and our ongoing ability to operate a business and obtain financing. These forward-looking statements are made as of the date of this current report, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
Although we believe that our beliefs, plans, expectations and intentions contained in this current report are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the 2008 fiscal year, our quarterly reports on Form 10-Q and our other periodic reports filed from time-to-time with the Securities and Exchange Commission pursuant to the Securities Exchange Act.
VerifySmart Corp.
CONTACT: Corporate Headquarters, Fort Legend Towers, Suite 2002 - 3rd
Avenue corner 31st Street, E-Square, Fort Bonifacio Global City, Taguig, Metro
Manila, Philippines; Investor Relations: Danny Gravelle, Goal Capital LLC,
(949) 481-5396; Questions or Feedback, inquiry@verifysmart.com,
http://www.verifysmart.com/
