August 09, 2011 05:00 PM Eastern Daylight Time
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--PrepaYd, Inc. (Pink Sheets:PPDC) announced today that on July 31, 2011 it closed a private placement restricted stock offering. PrepaYd issued 80,500,000 restricted common shares in return for $2,012,500 in the offering.
PrepaYd now has 537,653,870 issued common shares of stock of which 56,003,209 are free trading, and 481,650,661 are restricted. PrepaYd’s CEO owns 289,525,000 shares of the restricted common stock and its Senior Vice President owns 15,000,000 shares of the restricted common stock.
About PrepaYd, Inc.
PrepaYd, Inc. is a provider of financial services in the prepaid debit card industry and is in the process of becoming a prepaid wireless phone provider. The company, through one of its wholly owned subsidiaries Bank Freedom, offers prepaid debit cards to America’s estimated 60 million underbanked citizens. In addition to the underbanked consumer demographic, small and mid-size businesses have found a much needed product with the company’s Prepaid Business Expense Card Program. With the diminishing credit card markets, companies need a new way to fund employees’ expenses other than through traditional credit cards or cash reimbursements. Through another wholly owned subsidiary PrepaYd Wireless, the company intends to offer mobile services to an estimated 110 million consumer demographic. Prepaid Wireless Services is an alternative to the traditional Postpaid Wireless Service Plans provided by major carriers. In addition, PrepaYd Wireless intends to make all of its available phones and wireless plans compatible for mobile financial services.
For more information about PrepaYd, Inc. visit www.PrepaYdInc.com
