Equitex, Inc. announced today that it has signed a letter of intent to utilize its resources to develop a credit card program for an existing financial institution. Completion of this transaction is subject to further due diligence by both parties, negotiation and execution of a definitive agreement, necessary state or federal regulatory approvals, board of director approval and any necessary stockholder approvals.
Equitex, Inc. is a holding company operating through its wholly owned subsidiaries Nova Financial Systems and Key Financial Systems of Clearwater, Florida and Chex Services of Minnetonka, Minnesota. Nova and Key design, market and service credit card products. Chex Services provides comprehensive cash access services to casinos and other gaming facilities.Details