(MENAFNEditorial)
Veritec Inc.
2445 Winnetka Avenue No.
Golden Valley MN 55427
612-991-7928; Phone
(763) 253 – 0503; Fax
www.veritecinc.com
FOR IMMEDIATE RELEASE
VERITEC NAMED JOSEPH VALANDRA TO SIT ON THE BOARD OF DIRECTORS
Golden Valley MN October 10 2014 - Veritec Inc. (OTC BB: VRTC.OB) a processor and program manager of banking debit card and affinity solutions today announced its new member of the Board of Directors Mr. Joseph Valandra.
Veritec is pleased to announce today a new member of the Board of Directors Joseph Valandra. “Mr. Valandra brings to Veritec his knowledge compassion and great contacts in all aspects including finance management of public and private business and more…” stated by Van Tran CEO of Veritec.
Joe Valandra is the Chairman and CEO of Great Luck LLC. He is responsible for all development and operations as well as for strategic planning and execution. He has over 30 years of experience in the areas of finance; executive management of public private and government operations; and the development of strategies for restructuring. Past positions include Vice President of development for a major casino management company and the CEO and Chairman of a worldwide manufacturer and supplier of bingo and pull-tab gaming products and equipment. He also served for two years as the Chief of Staff of the National Indian Gaming Commission in Washington DC. In the area of gaming he has particular expertise in Tribal gaming Internet gaming and gaming manufacturing.
In addition to Great Luck Joe is managing partner of VAdvisors LLC--a political consulting firm specializing in gaming and other issues relevant to Indian Country--and of MYNEXUS LLC—a venture developing an online 3-D virtual world where customers participate in social interactions gambling/gaming activities commerce entertainment transactions and community happenings.
Joe is a Sicangu Lakota and member of the Rosebud Sioux Tribe located on the Rosebud Reservation in South Dakota. He is a graduate of the University of South Dakota Business School and the University of Minnesota Law School
About Veritec Inc.
Veritec Inc. was incorporated in the State of Nevada on September 8 1982 for the purpose of development marketing and sales of a line of microprocessor based encoding and decoding system products that utilize matrix symbology technology a two-dimensional barcode technology originally invented by the founders of the Company. Veritec went on to expand its markets into the Bio-identification and financial arenas. At the present Veritec Inc. has three separate divisions: Veritec Verifications and Identification Veritec Financial Systems and Tangible Payments Systems.
Veritec Verifications and Identifications focuses on the manufacture automation industries such as Liquid Crystal Displays pharmaceuticals and secure biometric identifications… using its proprietary VeriCode® and VSCode™. The biggest success is in the LCD markets (www.veritecinc.com)
Veritec Financial Sysem Inc. (VTFS) focuses on its proprietary Financial Mobile Banking Technologies. VTFS registers its software platform with sponsor banks and becomes its own processor and program manager for the sponsor banks. VTFS has a relationship with Visa as Third-Party Servicer of Visa branded card as well as private label affinity; ATM and PIN base card programs (www.vtfs.com; www.blinxprepaid.com)
Veritec Tangible Payments systems the Company newly acquire division focuses on its gateway to provide Java-based enterprise web payment portal and services. Its focuses are on larger enterprise usually encompassing multiple banks and IT specific requirements. Tangible gateway offered both credit card and ACH capabilities. Tangible built its “ePay” platform for a large customer KPMG and in 2002 the customer received the NACHA Best year award in Payment Portal for its ePay program (www.tangiblepayments.com)
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties affecting technology companies our ability to successfully develop products rapid technological change in our markets changes in demand for our future products legislative regulatory and competitive developments and general economic conditions. Our SEC filings discuss some of the important risk factors that may affect our business results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason unless otherwise required to do so by SEC Regulations.
Veritec Contact:
Van Tran CEO
612-991-7928
vtran@veritecinc.com
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