NEW YORK, Jan. 30, 2012 (GLOBE NEWSWIRE) -- Coupon Express (CPXP), is pleased to announce the release of its Annual Report on Form 10-K for the fiscal year ended October 31, 2011. Eric L. Kash, CEO of Coupon Express, Inc. stated "2011 was a positive year for the Company. We changed our name formally to Coupon Express, Inc. and our symbol to CPXP, which is more descriptive of our principal business. Coupon Express, is expanding its geographical footprint to coincide with our strategic distributor's significant supermarket network. Coupon Express has also signed contracts with several additional companies for nationwide installations and Point of Sale (POS) Value Added Sales (VAR) companies that are integrating Coupon Express' Kiosk into individual and supermarkets chains."
Mr. Kash added, this past fiscal year, as previously announced, "Coupon Express, Inc. restructured its balance sheet which should allow it to increase its rate of growth. The company reduced its Convertible Debt by $2.1 Million and raised additional capital via a new $1.4 Million Convertible Debt Offering which will automatically convert to Convertible Preferred upon the retirement or conversion of the remaining $680,000 of the preexisting Convertible Debt. Coupon Express' financial status has improved markedly." This successful debt reduction-and additional capital, should allow the Company to increase its growth at an accelerated pace for the balance of 2012. Coupon Express has experienced an increase in the number of advertisers and increased consumer awareness and usage which bode well for our continued expansion.
About Coupon Express Inc.
Coupon Express Inc. (CPXP) provides innovative interactive customer communications systems and applications that support targeted marketing programs with unique point-of-purchase (POP) services and information that serve shoppers and distributors while building loyalty and revenue for the Company's primary clients. Through its proprietary Coupon Express kiosks™ and services, Coupon Express provides in-store customized couponing, in multiple languages, for immediate impact in regional, independent retailers in the grocery and convenience store industries, enabling retailers to quickly determine ideal price-points for new products and mitigate losses from hard-to-sell items. Through a joint marketing agreement with Midax, a leading systems integrator for the independent grocery and convenience store industries, Coupon Express Inc. provides a seamless transaction for issuing, redeeming and reporting coupons, as well as creating a state-of-the-art loyalty program and shopping list service.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "hopes," "intends," "plans," "seeks," "will," and other terms with similar meaning, including, but not limited to, statements regarding the possibility of commitments for the Coupon Express from other national brands, creation of state-of-the art loyalty programs and the possibility of increased revenue. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.