Initial Funding Received To Offer America’s 60 Million Underbanked Population Bank Freedom Prepaid Debit Cards Announced Berman Holdings Inc.
LAS VEGAS, NV - Berman Holdings, Inc. (Pink Sheets:BRMN - News), today announced it has completed a private placement equity offering raising funds to expand its wholly owned subsidiary Berman Marketing Group, Inc.’s launch into the Prepaid Debit Card Industry. This marketing program will focus on offering America’s underbanked population an affordable option for cashing their pay checks, paying bills and purchasing products. There are an estimated 60 million Americans that don’t qualify for bank accounts and or credit cards known as America’s underbanked.
Berman Marketing Group, Inc. will be marketing Bank Freedom Prepaid Debit Cards, which are a personalized, reusable prepaid debit card for America’s underbanked population. The company states that subject to verification of ID the prepaid debit cards will be marketed to America’s underbanked consumers with a 100% Guaranteed Approval policy.
The Bank Freedom Prepaid Debit Cards work much like a checking account or a prepaid credit card only you don’t need a bank account to use or get one. You can either deposit cash onto your prepaid debit card at one of 40,000 retail locations near you or have your paycheck directly deposited onto the prepaid debit card. Once money is deposited on your Bank Freedom Prepaid Debit Card you can make purchases for goods and services at millions of locations worldwide and use your card at over 1,000,000 ATM’s. To find out more or get your own Bank Freedom Pre Paid Debit Card visit www.BankFreedomDebit.com.
Bruce A Berman President of Berman Holdings, Inc. and Berman Marketing Group, Inc. stated, “There was a real catch 22 until recently that if you didn’t have a bank account you couldn’t use a prepaid debit card. With the Bank Freedom Pre Paid Debit Cards that we are marketing you can pre pay them with cash or have your payroll check directly deposited on to it. So if you don’t have a bank account you can get a prepaid debit card that works like a virtual bank account or a prepaid credit card. It even has a bill payment feature that let’s you pay bills without a bank account. No more paying expensive check cashing fees or purchasing money orders to pay bills. Regardless of credit, employment or past banking history everyone with a valid ID is guaranteed a Bank Freedom Pre Paid Debit card.”
Berman Holdings, Inc. closed an equity private placement offering in January 2007. The company intends to use the majority of the net proceeds from that offering to fund the Berman Marketing Groups initial launch of the Bank Freedom Prepaid Debit Card. 100% of the offering was completed for $750,000.
Bruce A Berman continued, “People thought I was overzealous trying to raise money between Thanksgiving and Super Bowl Sunday. Historically the investment community shies away from new offerings during that time of year. I was confident in our company and the investment community returned that confidence by fully subscribing the offering in an expeditious manner.”
About Berman Holdings, Inc.
Berman Holdings, Inc. is a publicly traded holding company that’s current holdings consist of a 100% interest in the Berman Marketing Group, Inc.
About the Berman Marketing Group, Inc.
The Berman Marketing Group, Inc. was formed in 2007 by Bruce A. Berman and intends to be a multi-channel direct market firm specializing in direct response marketing through Television, Radio, Internet and Print mediums. Prior to forming the Berman Marketing Group Inc., Bruce A. Berman has been marketing a variety of his own products using these mediums. Berman Marketing Group has recently announced its intention to enter the prepaid debit card industry.
Certain statements contained in the above, are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company’s current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to differ materially from what is currently anticipated. The Company cannot guarantee its future results, levels of activity, performance or achievements.
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- Ryan Guenthart
- Berman Marketing Group, Inc.
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