I had a friend fax me a copy of the original article that mentioned MRTO as a takeover target. I found another interesting story in The Nilson Report on Offshore Electronic Commerce. MerchantOnline is tied into this story as well through their affiliation with EOCnet.com.
This could be huge because there are no taxes levied on corporate income or capital gains in Bermuda.
Who wouldn't want to establish a virtual office there?
Here is a direct quote from the article:
First to start operations in Bermuda is EOCnet.com which has formed alliances with the Bank of Bermuda, Sterling Commerce, Cable & Wireless, Visa International, and PricewaterhouseCoopers.
Here is a press release from a short while back:
MerchantOnline.com Signs Letter of Intent With EOCnet.com
BOCA RATON, Fla.--(BUSINESS WIRE)--July 14, 1999-- MerchantOnline.com Inc. (OTC BB:MRTO) announced that it has signed a letter of intent with EOCnet.com to provide e-commerce services offshore.
Tarek Kirschen, president and chief executive officer of MerchantOnline.com, stated: ''We believe that our ability to provide a more flexible and cost-effective e-commerce solution through Bermuda-based EOCnet.com will give us the competitive edge necessary to gain greater marketshare.''
Bermuda-based EOCnet.com formed Charter Alliance Partners with Sterling Commerce, Bank of Bermuda, Cable & Wireless, PriceWaterhouseCoopers and VISA International, enabling client companies the ability to conduct business electronically offshore.
MerchantOnline.com is one of the first e-commerce providers to use and deliver the benefits of the EOCnetwork. MerchantOnline.com (www.merchantonline.com) is a total one-stop e-commerce provider offering real-time credit card processing checks online and shopping-cart services. This Boca Raton-based company is one
of the fastest-growing e-commerce providers in the industry.
Forward-looking statements in this release are made pursuant to the ''safe-harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products,
increased levels of competition for the company, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
Contact:
MerchantOnline.com, Boca Raton
Tarek Kirschen, 561/395-3585
Info@merchantonline.com
www.merchantonline.com
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