3Pea Technologies, Inc. is Acquired by Tika Corporation
LAS VEGAS, March 27 /PRNewswire-FirstCall/ — PayPad, Inc., an Internet payments
solution company, formerly Tika Corporation announced today that its new name and
ticker symbol will be active March 27, 2006.
The majority shareholders approved a Plan and Agreement of Reorganization between
Tika Corporation and 3Pea Technologies, Inc. that closed on March 02, 2006. This
Agreement provides for the acquisition of 3Pea by Tika whereby 3Pea became a wholly
owned subsidiary of Tika. 3Pea will continue to operate as a wholly owned subsidiary,
with its management assuming control over Tika.
PayPad, Inc. is now the official trading name of the company. Shareholders and
investors can track the stock under the new trading symbol: PYPD effective March 27,
2006.
About PayPad
PayPad, Inc., through its wholly owned subsidiary 3Pea Technologies, Inc., designs and
develops next generation Internet payment solutions. Since 2001, 3Pea has focused
exclusively on the need for Internet PIN-debit transactions initiated from the home, and
has developed products and services to support this need including cost effective
Payment Terminals and Secure Internet Payment Gateways. PIN-debit transactions are
one of the fastest-growing markets in electronic payments, and typically cost merchants
significantly less than signature-debit or credit-card payments while at the same time
being much less susceptible to fraud. For further information go to
http://www.paypad.com/
Forward Looking Statements:
Certain statements in this news release may contain forward-looking information within
the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the
Securities Exchange Act of 1934, and are subject to the safe harbor created by those
rules. All statements, other than statements of fact, included in this release, including,
without limitation, statements regarding potential future plans and objectives of the
companies, are forward-looking statements that involve risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in such statements.
Technical complications that may arise could prevent the prompt implementation of any
strategically significant plan(s) outlined above. PayPad undertakes no obligation to
publicly update or revise any statements in this release, whether as a result of new
information, future events, or otherwise.
CONTACT:
Investor Relations, PayPad
+1-702-453-2221
Investors@paypad.com
Web site: http://www.paypad.com/