Consorteum Holdings, Inc. (OTCBB: CSRH) this morning issued a corporate update to investors concerning its business activities. Over the last 60 days, the company has engaged in several meetings and presentations with various corporations, private and public, to further the development of its Card Programs, Merchant Discount Rates and new Joint Venture business relationship. Through these meetings, Consorteum has identified several new key business opportunities that will lead to increased revenues in 2010-2011.
As previously announced, the company has signed a joint venture agreement with Trans Screen Group. Through this joint venture relationship, the companies aim to expand into markets outside North America targeting new opportunities in India, Africa, Russia, Latin America, Thailand and China for payroll-benefits cards, loyalty programs, gift cards, payment transaction processing and several other value-added services. With established business relationships within these countries, Trans Screen Group will leverage Consorteum’s expertise to provide financial services to their existing partners.
Consorteum has also been in discussion with other companies within the payroll industry to develop new payroll card programs. With proposals presented, the company will continue to develop these relationships to reach the deployment phase.
Additionally, the company announced that “My Golf Rewards” has finalized its pilot program over the summer, completing all testing and platform development. Their next objective is to add 20 new golf courses to the program in early 2010. Consorteum is also planning to further expose the My Golf Rewards program to golf course owners and end consumers through trade shows and industry publications.
The company continues to explore adding industry professionals and experts who have experience in the areas of banking, credit card issuance, payment processing, rebates and payroll. Currently, Consorteum is looking to expand its Board of Directors and Board of Advisors with financial services industry experts and senior executive level professionals running successful and profitable organizations. The company will provide further information to its shareholders and the investment community within the next 30 days.
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