Readen Holding Corporation (PINKSHEETS:RHCO) Announces Substantial Progress
HILVERSUM, NETHERLANDS--(Marketwire - Oct. 24, 2012) - Readen Holding Corp. (PINKSHEETS:RHCO) is listed on the stock exchange since 1953 previously known as Beacon Light Mining Company.
June 1 2011 new management acquired control of the company with a redefined focus on the telecom business and other related interests. The new team represents a combined century of manufacturing experience of hardware and software retail concepts in the telecom industries in Europe, Asia and the Americas. The primary sales activities consist of: mobile phones, SIM cards, prepaid phone cards, physical top up vouchers and electronic voucher systems.
Within its first year, Readen Holding Corp, established a joint venture with TNT Telecom for the creation of Yomobile, with a primary focus on distributing top up voucher terminals. To date, 700 terminals have been placed and another 300 locations are committed for and awaiting placement, in the Netherlands. Within the next six months, the systems will be widely distributed throughout Europe.
Secondly, Moho Telecom, a RHCO subsidiary, partnered with Lebara, one of the largest suppliers of prepaid SIM cards in the world for the purpose of installing presentation cabinets with a rack jobbing system (similar to vending machines) stocked with mobile phones in retail stores, gasoline stations and hotels. Currently, 400 cabinets have been successfully installed with sales revenue exceeding expectations. In the first quarter of 2013, there will be 750 cabinets installed with European distribution parallel to that of the voucher system.
Shortly thereafter, Yoho Telecom, another RHCO subsidiary, signed an exclusive contract for the distribution of a revolutionary new product for the European market called "Paystation". This is an indoor/outdoor touchscreen vending retail system for phone and internet credit, hotel and travel bookings, cinema tickets, event tickets, taxi fares with possibilities for advertisement. Currently, four test units are in place and working in the Netherlands. The units will be installed in large quantities throughout Europe in the second quarter.
Ronald Steenbergen (RHCO's CEO) quote: "All of our telecom related projects are a proven success in the Netherlands and we are therefore ready to expand into the European markets in 2013. In the second quarter of 2013, we will select the appropriate partners with which to expand into the Americas and Asian markets, for which inquiries have been made by several large organizations."
This press release may contain forward-looking statements, including, but not limited to, statements regarding Readen Holding Corporation and its plans, products and related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential" or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Readen Holding Corporation's postings on the OTC Markets Disclosure & News Service and future filings with the Securities an Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Readen Holding Corporation undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
FOR FURTHER INFORMATION PLEASE CONTACT:
Readen Holding Corp.
+31 3562 99970