OneTouch Direct Deal
Here is the original PR:
Quote:
WEST PALM BEACH, FL--(Marketwire -10/04/11)- A Clean Slate, Inc. (OTC.BB: DRWN.PK - News), a Company that provides a variety of services for financially distressed consumers, announced today that the Company has reached an agreement in principal with OneTouch Direct whereby A Clean Slate will be provided with thousands of cases for their multifaceted Consumer Financial Distress Programs, (CFDP), including Bankruptcy. This input by OneTouch Direct will generate substantial revenues for A Clean Slate over first 90 days of the program.
Dave Masi, Senior Vice President of OneTouch Direct, said, "Our team's overall culture fits this effort as we have been dealing with customers that find themselves currently in a financially distressed situation. The solutions that A Clean Slate Inc. will bring these customers are a new option to help them recover from the sense of being overwhelmed by their current financial predicament. OneTouch Direct provides marketing solutions mainly through their four contact call centers for Fortune 500 Companies throughout the United States and Canada."
"We are very pleased with the pending agreement with OneTouch Direct. This will get our Company off to a fast start," said Bob Goldman, President of A Clean Slate. "Individuals who request assistance will be referred to our 'Case Resolution Centers' for personal evaluation of their myriad concerns. The solutions could be Debt Counseling, Debt Reconciliation, Foreclosure, Short Sale, Loan Modification, Divorce Mediation and/or Bankruptcy."
A Clean Slate Announces Agreement With OneTouch Direct for Thousands of New Consumer Financial Distress Program Cases - Yahoo! Finance
And the update is in here along with other things of interest:
Quote:
December 2011
As part of our continuing effort to keep the general public and our shareholders informed regarding anticipated programs at A Clean Slate, Corp. (ACS), we are posting an Informational Newsletter.
Today, we are spotlighting the first of our four major revenue divisions, ACS Solutions, Inc. It is our intention to expand the operational model, revenue guidance, and the projected EBITDA during 2012. Subsequent Newsletters will discuss the remaining three operating divisions, ACS Well-Being, ACS University, and ACS Data Analytics.
ACS Solutions, Inc. We acquired Vigilant Legal Solutions in 2010. This coming year a number of significant and revenue positive changes are envisioned:
· Renaming this wholly owned subsidiary, (ACS Solutions, Inc.) to reflect the broadening of the services provided
· Investment of a minimum of $500,000 of private investor capital for expansion of marketing, proprietary software development and additional service personnel
· Conversion of the existing Business (B2B) model to the Business to Consumer (B2C) model
· Expanded solutions to include: Debt Resolution, Foreclosure, Loan Modification, Divorce Mediation, and Student Loan Consolidation
· Addressing financial and family distress issues in a one stop environment
ACS Solutions, Inc. will be responsible for what we believe is the first of its kind, LWFMP, (Less Work For Mother Program), which provides each party involved in the solution, (the Consumer, ACS Resolution Managers, Attorneys, and the Court) with real-time access to the proprietary software system to be designed, on the cloud, by one of the worlds largest software firms. Anticipated implementation is expected by Q2 2012. We firmly believe that this program will improve the quality of Bankruptcy filings and reduce the length of time that these legal transactions and other financial distress solutions currently require. We anticipate that the program will, on a real-time basis:
· Afford all parties, including the client, with transparency into the case progress
· Allow data to be acquired with client approval from the cloud, (eliminating paper submissions, input errors, and missing or incorrect documents)
· Give clients access to their own personal ACS Case Manager/ Financial Counselor
· Significantly expedite the process for attorneys
· Provide the Court with complete, accurate, and executed documents on their computers in advance of 341 hearings
THE LEGAL PROFESSION ECONOMICS
· There were almost 2 million bankruptcies in 2011
· The National average charge for a Chapter 7 bankruptcy was $2,500 and Chapter 13 was $4,000
· Chapter 7 represents 70% of the total cases processed
· There are almost 400,000 Community based Attorneys in the U.S. and we believe a vast number have abandoned practicing Law, (too many attorneys- too little profitable business in this economy)
· Of those that still practice, many may no longer engage in bankruptcy work. This may be due to the lack of profitability and the excessive overhead/paperwork and time requirement costs of the existing process
ACS SOLUTIONS MONETIZATION and GUIDANCE
We anticipate that with our planned significant reduction in required paperwork and time requirements per case ( only 3-4 hours), each Community lawyer engaged in multiple ACS bankruptcies would retain $600 of their average $2,500 Chapter 7 fee, after payment for the marketing and software license use, and our provision of Client support and Case Management. This could provide ACS Solutions with average gross revenue of $1,900 per case and the Community Attorney with $6,000 per week for 10 completed Cases.
A previous Press Release announced the Agreement with One Touch Direct, Inc, (OTD), to provide at least 1,000 potential Bankruptcy cases to A Clean Slate, Corp. in Q1, and we anticipate utilizing some of our working capital with OTD and Search Engine Optimization, (SEO), marketing to secure at least 2% of the total 2010 Bankruptcy market (40,000 potential cases) for 2012. If we realize and service the projected number of cases we have estimated, and direct the working capital as set forth above to this area of our business given those assumptions, the following 2012 Revenue and EBITDA Guidance are estimated for ACS Solutions, Inc:
Cases Closed Gross Revenue Other Revenue EBITDA
20,000 $40 Million $5 Million $20 Million
The discussion of our remaining Three Revenue Producing Divisions, (ACS Well-Being, ACS University, and ACS Data Analytics) will be presented in our subsequent Newsletters together with announcements of anticipated organizational appointments, Revenue and EBITDA Guidance.
