Intelligent Systems Announces Name Change to CoreCard

NORCROSS, Ga., Dec. 15, 2021 (GLOBE NEWSWIRE) -- Intelligent Systems Corporation (NYSE: INS), the leading provider of innovative credit technology solutions and processing services to the financial technology and services market, announced today that it is changing its name to CoreCard Corporation.

The Company anticipates its common stock will begin trading using new ticker symbol "CCRD” at the commencement of trading on December 29, 2021, and that its common stock will continue to trade on the NYSE under the symbol "INS” until the closing of trading on December 28, 2021.

The Company’s corporate structure will not be changing, nor will its financial reporting.

Leland Strange, CEO and Chairman, stated, "This change highlights our goal to grow our industry leading revolving credit platform as the primary business of the company. Intelligent Systems Corporation was one of the early public technology companies with its IPO in 1980 and over the years it has founded, invested, and grown many technology brands including Peachtree Software and Quadram Corporation. CoreCard was one of our investments and trading under our new name reflects the singular long-term focus to growing CoreCard and delivering value to shareholders.”

About CoreCard Corporation

CoreCard Corporation is a pioneering card management platform built for the future of global transactions in a digital world. Dedicated to continual technological innovation in the ever-evolving payments industry backed by decades of deep expertise in credit card offerings, CoreCard helps customers conceptualize, implement, and manage all aspects of their issuing card programs. Keenly focused on steady, sustainable growth, CoreCard has earned the trust of some of the largest companies and financial institutions in the world, providing truly real-time transactions via their proven, reliable platform operating on private on-premise and leading cloud technology infrastructure.

Further information is available on the company’s website at www.corecard.com or by calling the company at 770-381-2900.

Forward-Looking Statements

The forward-looking statements in this press release are made under the "safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including those listed in Item 1A of the Company’s Annual Report on Form 10-K and in the Company’s other filings and reports with the Securities and Exchange Commission. All of the risks and uncertainties are beyond the ability of the Company to control, and in many cases, the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this press release, the words "believes,” "plans,” "expects,” "will,” "intends,” "continue,” "outlook,” "progressing,” and "anticipates” and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.