Friday August 6, 8:15 am Eastern Time
Company Press Release
SOURCE: billserv.com
billserv.com Announces Financial Results
SAN ANTONIO, Aug. 6 /PRNewswire/ -- billserv.com, Inc. (OTC Bulletin Board: BLLS - news), a leading electronic bill presentment and payment (EBPP) service bureau, today announced financial results for the three and six months ended June 30, 1999.
The Company has not yet entered a revenue-generating phase and, accordingly, no revenues were reported for the quarter and six-month period ended June 30, 1999. Since commencing operations in 1998, billserv.com has entered into relationships with several customers for bill presentment and payment services, including Sallie Mae, Ultramar Diamond Shamrock, San Antonio Water System, San Antonio Express-News, UDP, Inc. and PC Free. Most of these billers are currently or will soon be in a pilot phase. The Company also has formed strategic partnerships with the major EBPP aggregators including CheckFree and Transpoint.
The Company, which is currently in development-stage operations, reported a net loss of approximately $1,650,0631 and $2,451,491, or $(.16) and $(.24), respectively, for the quarter and six-month period. For further financial details, see table below.
During the current development stage period, the Company has devoted substantially all of its resources for ongoing development of its operating systems, business development and marketing efforts. ''billserv.com is building a solid foundation for the future by forming strategic partnerships, signing customer agreements and creating a strong pipeline of prospective customers,'' said Michael Long, chairman and CEO of billserv.com. ''Our results thus far are indicative of companies in a similar development phase, and I believe we will perform favorably in the future.''
About billserv.com
billserv.com, Inc. is an electronic bill presentment and payment service bureau that provides small- to medium-sized billers with a turnkey outsourcing solution for presenting bills to consumers for payment on the Internet. billserv.com serves an intermediary role between billers and bill aggregators by consolidating customer billing information from multiple billers, and then securely delivering it to aggregators. billserv.com has four product offerings: (eServ(SM)), Internet billing clearinghouse services for EBPP; (ePublishing(SM)), electronic publishing services for online statement delivery; (eCare(SM)), an interactive customer care center operation; and (eConsulting(SM)), professional consulting services for billing organizations offering in-house bill presentment. billserv.com also owns and develops bills.com, the first EBPP Internet portal where consumers can pay all their bills electronically. For additional information, visit billserv.com or call 210-402-5000.
Certain statements contained herein are ''forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
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