EX-99.1
3
v137304_ex99-1.htm
Unassociated Document
Exhibit
99.1
Western
Capital Resources, Inc.
Acquires
12 new Cricket Wireless Stores in Missouri
Council Bluffs, IA-January 21,
2009-
Western Capital Resources, Inc. (OTC: WCRS.OB), a Minnesota
corporation (the "Company"), announced today that it has acquired 12 new Cricket
Wireless store locations and related assets from VZ Wireless, LLC, a Wisconsin
limited liability company. The acquisition closed on Wednesday,
January 14. The acquired stores and assets are located in the Kansas
City, Missouri (4 stores) and St. Louis, Missouri (8 stores)
markets. To acquire the stores and related assets, the Company paid a
total purchase price of $1,828,000. The stores will be owned and
operated by PQH Wireless, Inc., a wholly owned subsidiary of the
Company.
"This
acquisition is part of our continuing efforts to expand our Cricket Wireless
business and diversify our business generally by offering products and services
beyond mere payday lending. We believe that this acquisition
strengthens our position in the Cricket Wireless business and our geographic
presence in the Midwest. In sum, we are extremely pleased to have
added these locations to our growing Cricket Wireless
portfolio. Since October 2008, the Company has added 21 new Cricket
Wireless storefronts to our operations, including nine stores acquired in our
PQH Wireless acquisition in October 2008 and the 12 new stores acquired from VZ
Wireless."
About
Western Capital Resources, Inc.
Western
Capital Resources, Inc. presently operates 66 cash advance (or "payday") lending
stores in 11 different states, including Arizona, Nebraska, Iowa, North Dakota,
South Dakota, Wyoming, Montana, Kansas, Colorado, Wisconsin and
Utah. The Company provides customers with short-term cash advance
loans, typically ranging from $100 to $500, in addition to ancillary consumer
financial products and services that are complementary to the cash advance
lending business, such as check-cashing services, money transfers and money
orders. The Company also has a growing Cricket Wireless business that
involves the sale of Cricket Wireless phones and accessories. Cricket phones are
prepaid cellular phones that function for a period of time, without usage
limitations, for a flat fee. Western Capital Resources is an
over-the-counter bulletin board-listed company that files periodic disclosure
reports with the United States Securities and Exchange Commission.
Forward-Looking
Statements
This
press release contains certain statements that are "forward-looking statements"
and includes, among other things, discussions and disclosures of the business
strategies and corporate and marketing identity of Western Capital Resources,
Inc. Words such as, but not limited to, "may", "likely,"
"anticipate", "expect" and "believes" generally indicate forward-looking
statements. Although the Company believes that the expectations
reflected in these forward-looking statements are generally reasonable, it can
give no assurance that such expectations will ultimately prove to be correct or
materialize. All phases of the Company's operations and business are
subject to a number of uncertainties, risks and other influences, most of which
are outside its control, and any one or combination of which could materially
and adversely affect the results of the Company's operations, and whether any
forward-looking statements contained herein ultimately prove to be
accurate. For a summary of pertinent risks, please see the Company's
most recent amendments to its S-1 registration statement that was filed with the
SEC on November 24, 2008.
Contact: John
Quandahl, Chief Executive Officer (712) 322-4020.

EX - 99 . 1 3 v137304 _ ex99 - 1 . htm Un associated Document Exhibit 99 . 1 Western Capital Resources , Inc . Acquires 12 new Cricket Wireless Stores in Missouri Council Bluffs , IA - January 21 , 2009 - Western Capital Resources , Inc . ( OTC : WCRS . OB ) , a Minnesota corporation ( the " Company " ) , announced today that it has acquired 12 new Cricket Wireless store locations and related assets from VZ Wireless , LLC , a Wisconsin limited liability company . The acquisition closed on Wednesday , January 14 . The acquired stores and assets are located in the Kansas City , Missouri ( 4 stores ) and St . Louis , Missouri ( 8 stores ) markets . To acquire the stores and related assets , the Company paid a total purchase price of $ 1,828,000 . The stores will be owned and operated by PQH Wireless , Inc . , a wholly owned subsidiary of the Company . " This acquisition is part of our continuing efforts to expand our Cricket Wireless business and diversify our business generally by offering products and services beyond mere payday lending . We believe that this acquisition strengthens our position in the Cricket Wireless business and our geographic presence in the Midwest . In sum , we are extremely pleased to have added these locations to our growing Cricket Wireless portfolio . Since October 2008 , the Company has added 21 new Cricket Wireless storefronts to our operations , including nine stores acquired in our PQH Wireless acquisition in October 2008 and the 12 new stores acquired from VZ Wireless . " About Western Capital Resources , Inc . Western Capital Resources , Inc . presently operates 66 cash advance ( or " payday " ) lending stores in 11 different states , including Arizona , Nebraska , Iowa , North Dakota , South Dakota , Wyoming , Montana , Kansas , Colorado , Wisconsin and Utah . The Company provides customers with short - term cash advance loans , typically ranging from $ 100 to $ 500 , in addition to ancillary consumer financial products and services that are complementary to the cash advance lending business , such as check - cashing services , money transfers and money orders . The Company also has a growing Cricket Wireless business that involves the sale of Cricket Wireless phones and accessories . Cricket phones are prepaid cellular phones that function for a period of time , without usage limitations , for a flat fee . Western Capital Resources is an over - the - counter bulletin board - listed company that files periodic disclosure reports with the United States Securities and Exchange Commission . Forward - Looking Statements This press release contains certain statements that are " forward - looking statements " and includes , among other things , discussions and disclosures of the business strategies and corporate and marketing identity of Western Capital Resources , Inc . Words such as , but not limited to , " may " , " likely , " " anticipate " , " expect " and " believes " generally indicate forward - looking statements . Although the Company believes that the expectations reflected in these forward - looking statements are generally reasonable , it can give no assurance that such expectations will ultimately prove to be correct or materialize . All phases of the Company 's operations and business are subject to a number of uncertainties , risks and other influences , most of which are outside its control , and any one or combination of which could materially and adversely affect the results of the Company 's operations , and whether any forward - looking statements contained herein ultimately prove to be accurate . For a summary of pertinent risks , please see the Company 's most recent amendments to its S - 1 registration statement that was filed with the SEC on November 24 , 2008 . Contact : John Quandahl , Chief Executive Officer ( 712 ) 322 - 4020 .