Legends Business Group, Inc. (PINKSHEETS: LGBS) announced today that it has entered into a consulting agreement with Transaction Clearing of San Antonio, Texas. Legends Business Group has agreed to consult with Transaction Clearing in all matters of regulatory compliance, as well as, the design of critical business strategies for testing procedural and compliance protocols involving the company's proprietary business programs.
As part of the negotiations, Legends Business Group was granted the opportunity to make an equity investment in Transaction Clearing. Additionally, Legends' interests include a seat on the Transaction Clearing Board of Directors. Decision in regards to the day-to-day operations of the company will remain with Transaction Clearing's current management, with the input and advice of LGBS.
"Legends Business Group has the experience, skills and understanding of the full range of review perspectives that bear on regulatory agency evaluation and protocol testing," stated Betty Aguilar Managing Member of Transaction Clearing. "They will provide guidance, input and review to structure protocol, data content and collection and other information relative to regulatory scrutiny," continued Aguilar.
Transaction Clearing is a relatively new Local Exchange Carrier (LEC) Clearing House out of San Antonio, Texas that has taken the industry by storm with their innovative, up-to-date, customer accounting, billing and collection software system that incorporates the latest technical efficiencies with the most current rules and LEC requirements. The company is most known for providing customers with remarkable reporting flexibility and immediate online access to their data.
Larry Powalisz, President and CEO of Legends Group, said, "This is a very proud moment for Legends Business Group. Our partnership with Transaction Clearing will provide Legends an opportunity for enhanced flexibility and efficiencies in managing its commercial operations platform as well as significant revenue streams. This move represents a significant step toward achieving our goal of providing the most efficient, advanced billing and payment solutions to business owners who are looking to promote superior niche market products and services globally."
About Legends Business Group, Inc.
Legends Business Group, Inc. is a Pink Sheet stock which trades under the symbol LGBS. To obtain additional information about Legends Business Group, Inc., please visit the Company's website, which may be found at: www.lbgi.net.
This press release contains statements that are "forward-looking," and involve a number of risks and uncertainties. Statements that are not historical facts are considered forward-looking statements, and are subject to Safe Harbor provisions as defined in the United States Private Securities Litigation Reform Act of 1995 Company results and performance may be materially different from future results, strategies, plans or goals expressed or implied by any forward looking statements made herein. The Company disclaims any obligation to update or revise any forward-looking statements.