MIAMI, FL / ACCESSWIRE / May 14, 2015 / Lans Holdings, Inc. (OTCQB: LAHO),- (The Company), is pleased to announce that on April 17, 2015 the Company entered into an Asset Purchase and Restructure Agreement (the "Agreement") with Transaction Data USA Inc. ("TDUSA"). Pursuant to the Agreement, the Company acquired the following assets (the "Assets") from TDUSA:
- Access to TDUSA's existing customer files and accounts;
- The MCRd Application Framework. This technology reduces the complex process for managing enterprise data encryption. Using this platform, customers can more easily migrate their clients to a better security base to prevent credit card cloning and identity theft in retail locations. The platform enables service providers to reduce compliance and management costs of data encryption for multiple customers and the hardware and peripheral options are also more easily supported to reduce cost to commercialize encrypted payment solutions by service providers.
- Trade marks including Payment-Engine, PaymentSandBox and Cloudecrypt;
- Partner relationships with certain online companies.
The Company did not assume any of TDUSA's liabilities in the transaction.
In consideration for the Assets, the Company agreed to issue to TDUSA 400,000 shares of its newly created Series A Preferred Stock and 19,985,000 shares of its common stock.
As part of the transaction, the Company's officer and director, Trevor Allen, agreed to exchange his 7,000,000 shares of common stock into 100,000 shares of Series A Preferred Stock and Soundmax Ltd. agreed to exchange its 12,985,000 shares of common stock into 99,859 shares of Series A Preferred Stock.
The Agreement has post-closing covenants, which include the following:
-The Company agreed to use its best efforts to raise $375,000 for its own working capital needs and to develop the business surrounding the Assets;
- TDUSA has the right to appoint two persons to the Company's board of directors; and
- The parties agreed to a revenue share of the new business as outlined in the Agreement.
The Business
The Company did not acquire a business due to the fact that the acquired Assets are merely the foundation being used to create a completely new operation that will include marketing, services, a workforce and products that were not a part of the Assets acquired. The Company's intention is to create a business with operations that include the marketing and sales of products and services that will expand and grow the Company.
The Company will use the acquired technology to deploy a new SaaS (Security as a Service) enterprise solution called CLOUDECRYPT. This solution reduces the complex process for managing enterprise data encryption. Using this platform, customers can more easily migrate their clients to a better security base to prevent credit card cloning and identity theft in retail locations. The platform enables service providers to reduce compliance and management costs of data encryption for multiple customers. The Company plans to focus on providing a certified and compliant solution that will be recognized by a council formed and managed by Visa, MasterCard, Discover, AMEX and JCB. Payment gateways and other companies that develop and market solutions to businesses that process credit cards can leverage the CLOUDECRYPT platform which will provide the most secure solution to meet compliance requirements at a fraction of the cost than doing it internally. The hardware and peripheral options are also more easily supported to reduce cost to commercialize encrypted payment solutions by service providers. The Company plans to combine the CLOUDECRYPT with the Open4Biz (cloud business management apps) and Payment-Engine (cloud based retail and ecommerce platform) all of which will be "EMV ready" (meaning ready to support the latest card payment "chip and pin" security known as EMV (Europay, MasterCard and Visa). The Company hopes to provide the next generation one stop solution for retail and ecommerce businesses.
About Transaction Data USA Inc.
Transaction Data USA Inc. (TD USA) is a payment service provider and gateway for processing international payments. The company specializes in simplifying the distribution of user friendly, practical and in demand payment software for all industries including Ecommerce, Retail, and Mobile. As a result of its successful business relationships it has learned how to deliver white label products and services to enable its clients to compete with emerging payment solutions from the major players. TD USA's clients rely on its rapid time to market and system deployment of its turn-key PCI DSS and HIPAA compliant hosted solutions. Transaction Data USA provides business process outsourcing including: contact/call center solutions for sales and support to managed services and product development. TD USA's robust security features keep you protected without managing the details. TD USA's scalable facilities expands as your business grows. The company delivers white label payment solutions to its clients with strong differentiators to give them an edge over the competition.
About Lans Holdings Inc.
Lans Holdings provides secure payment solutions. The Company makes it easy for sellers to start selling, and buyers to buy with confidence. The Company solutions are used to enable businesses to process payments more efficiently whether online or in a retail store front. The Company provides white label solutions for payment service providers to enable business to consumer and business to business payments through physical POS, mobile devices, online and software integrations. Lans Holdings is focused to provide emerging payment solutions that motivate and reward our clients for adopting more secure payment systems in their businesses.
Further information on the Company can be found at www.sec.gov and the company's website at www.LansHoldings.com
For further information, please contact:
Investors@lansholdings.com
Forward Looking Statements
Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the closing of the share exchange agreement. The words “plan”, "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Lans Holdings Inc., herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Lans Holdings Inc., disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
SOURCE: Lans Holdings, Inc.