DBYC - .0018 x .002 $5,000,000 deal?
PTS, Inc. Files Form 8K Disclosing Subsidiary's Contract with QSR Chain
PTS, Inc. (OTCBB:PTSH) announced today that on February 5, 2007, PTS, Inc. filed a Form 8K with the Securities & Exchange Commission for the purpose of disclosing the entry into a material event, that being a material definitive agreement.
The 8K included the following pertinent facts.
On January 11, 2007, PTS, Inc.'s wholly owned subsidiary Disability Access Consultants, Incorporated (DAC) entered into a Consulting Agreement with a quick service restaurant group ("Client"). The Client's name cannot be disclosed due to the confidentiality clause in the agreement. Under the terms of the Consulting Agreement, effective January 11, 2007, DAC will provide services to the Client including (i) comprehensive and accurate accessibility compliance survey consulting services for selected restaurant locations; (ii) consulting and advising Client as an expert witness; (iii) report DAC's facts, conclusions and findings to Client; (iv) inspection services; and (v) a license to use the DAC Software in accordance with the terms and conditions of the software license agreement(s) which will include database relation services. In consideration of DAC's services performed, the Client will pay fees in excess of $5,000,000 (five million dollars).
In addition, PTS, Inc. stated that by now all entitled shareholders should have received the stock dividend of Disability Access Corporation (Pink Sheets:DBYC) at a ratio of 1:3. Shareholders who hold their shares of PTS, Inc. in "street name" with a brokerage firm, which is more typical, and do not yet have their dividend shares are asked to contact their respective broker dealer firm's customer service department. For those who have held their PTS, Inc. shares in certificate form and who have not received the Disability Access Corporation share distribution, you are asked to contact Peter Chin directly by emailing him at: psc3388@yahoo.com
About Disability Access Corporation
Disability Access Corporation conducts facility inspections, policy reviews and program analyses, in addition to a comprehensive continuum of other compliance services. Over 54 million people in the US have a disability, a number equal to 20% of the population. The Americans with Disabilities Act of 1990 requires all organizational entities, public or private, with more than 15 employees to provide equal access for individuals with disabilities. It's estimated that there are more than seven million sites at risk across the United States. Please visit: www.adaconsultants.com.
Safe Harbor Statement:
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results
