PVE offers consumers concerned about privacy an anonymous payment option for purchasing and viewing adult material. Users can buy PVE cards at retail establishments and use it on the PVE website, which features content from a variety of major adult content producers.
"We believe our products address the major issues facing both merchants and consumers regarding payment issues in the adult online industry, primarily solution privacy, anonymity and identity theft,” Florian Schuhbauer, acting CEO for PVE, said. “Our technology protects consumers while delivering a low-cost cash management tool for merchants."
The merger should help PVE raise both cash and its public profile.
"We have had overwhelming acceptance by the adult industry for our unique proprietary payment systems and have forged relationships with key industry players,” Schuhbauer said. “With this transition from private to public entity, we are seeking to raise the awareness of PVE among investors as well as consumers as we roll out our unique suite of payment services.”
Starting in May, the company plans to make cards available to consumers nationwide at several hundred thousand retail locations. PVE hopes to make the cards available worldwide in the near future.
To finance the reverse merger transaction, NVS issued 42,274,536 shares to acquire 100 percent of PVE's stock. As a result of the transaction, the former stockholders of PVE will own approximately 80 percent of the combined entity.
