MIAMI, Oct. 31 /PRNewswire-FirstCall/ -- Transax International Limited , a cost saving information network solutions provider for the healthcare sector, advises that on October 28, 2005, the Company filed Form RW to the United States Securities and Exchange Commission (SEC) withdrawing the Company's Registration Statement regarding the proposed sale of securities in regards to an equity line financing with Cornell Capital Partners, LP.
The Company advises no securities were sold in connection with the Registration Statement.
The Company further advises that despite the effects of Hurricane Wilma in South Florida, the Company's corporate office in Miami is functioning normally and all of the Company's revenue operations are not effected as they are all currently located outside of the United States.
About Transax International Limited
Transax International Ltd. provides network solutions to healthcare providers and health insurance companies. Utilizing its proprietary technology, Transax provides a service similar to a credit card processing for the health insurance industry. A Transax transaction consists of: approving eligibility, authorization, auto-adjudication of the health claim and generating the claim payable files all instantaneously in "real time" -- regardless of method of claim generation.
Transax's solutions have been proven to significantly decrease health insurance claim expenditure without any significant cost or expense to the health insurer. Based in Miami, Transax maintains a major operations office in Rio de Janeiro, Brazil with approximately 34 staff. The Company has contracts in place with major health insurers for up to 2,500,000 transactions per month and currently undertakes approximately 600,000 transactions per month. Transax receives about US50cents per transaction.
Web Site: http://www.transax.com or http://www.otcfn.com/tnsx Email: info@transax.com Investor Relations Inquiries OTC Financial Network 300 Chestnut St, Suite 200 Needham, MA 02492 USA Tel: 561-837-8057 Jamie Dryer Email: jamie@otcfn.com
Safe harbor statement "this news release may include forward-looking statements within the meaning of section 27a of the united states securities act of 1933, as amended, and section 21e of the united states securities and exchange act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "safe harbor" provisions of the united states private securities litigation reform act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein."
Transax International LimitedCONTACT: Investor Relations Inquiries: Jamie Dryer of OTC FinancialNetwork for Transax International Limited, +1-561-837-8057, jamie@otcfn.com