The following is Tom's long version of the PR:
Los Angeles, Sydney, Australia: eConnect, OTC:BB:ECNC, and E-SAFE, have targeted 100,000 homes to implement consumer Same-as-Cash Internet and non Internet commerce.
An average revenue of $100 per month per home is projected. This is an aggregate amount of different fees being paid by merchants to receive Same-as-CashTM services for receipt of bill payments, and impulse purchases. These fees are electronically received by eConnect and E-SAFE. No accounts receivables. Substantial fees will be generated from gaming companies who are receiving Same-as-Cash payments.
E-SAFE and eConnect are targeting a preliminary implemented Same-as-Cash system in the first 3 countries of Australia, Hong Kong and United Kingdom by a November to December 99 time frame. Immediate services of Same-as-Cash catalog, bill payment and wagering will begin. eSportsbet.com and eSportsbet.org will also begin testing Same-as-Cash receipts for the 2000 Summer Olympics to be held in Australia.
E-SAFE has been launched by Sydney Fund Managers Group by Managing Director Iain Gray. Sydney Fund Managers was established in 1986 and is a public but unlisted specialist investment company whose name is well recognized and respected by the global investment community.
eConnect and E-SAFE have formed the alliance of ETTA (Electronic Transactions Technologies Australasia) to aggressively pursue both Internet and non Internet eCommerce opportunities. E-SAFE and eConnect will be deploying an existing $75 device into target homes that will enable the Internet consumers to use their ATM card and their bank assigned PIN to effect a Same-as-Cash sports wager or impulse purchase. The transaction will be driven by proprietary bank host centers owned and managed by the alliance of eConnect and E-SAFE.
Non Internet consumers will be offered the eBoxTM, a working eConnect proprietary stand alone terminal that simply attaches to a phone and will also send Same-as-Cash transactions. eConnect and E-SAFE will also be fast track developing the PocketPay, which is a mobile wireless pocket sized terminal that can effect wireless Same-as-Cash transactions but can also be used as a voice phone.
The E-SAFE and eConnect proprietary bank host centers will drive the PocketPay transactions and are presently driving EzyShop transactions. Internet consumers will also be offered a special keyboard that will allow them to use a second phone line and bypass the Internet entirely with their bank card data.
Same-as-Cash sports wagers will be initially received by eSportsbet.com while E-SAFE is applying for an Australian Internet sports betting license with the web site eSportsbet.org.
Deployment of the inexpensive home Same-as-Cash equipment will be accomplished by alliances with utility and phone companies who wish Same-as-cash payments by both Internet and non Internet paths. E-SAFE has contacts with decision makers at utility and phone companies, gaming and catalog companies and is confident of establishing strategic alliances to pursue global Same-as-Cash eCommerce.
E-SAFE is seeking to raise $10,000,000 in a public offering and eConnect is seeking to raise $10,000,000 in a public offering.
eConnect has generated unaudited revenues and earnings and consists of two Divisions: eGaming, which is focused on the development of both Internet and non Internet gaming transactions through the implementation of Same-asCash TM payments by either ATM card and PIN for banked consumers and by the EzyCard TM for non banked consumers. Both types of transactions are enabled by proprietary eConnect equipment and Host processor. eGate, the second Division, is focused on the development of secure Same-as-Cash Internet transactions; EzyShop, the usage of the eConnect equipment to generate self serviced purchases from consumers sitting in waiting rooms and shopping from national catalogs; and EzyCard, a value added card to be used by non banked consumers using the publicly located eConnect equipment to effect self service bill payment, catalog purchases, and legally permitted self service lottery transactions.
eConnect and E-SAFE's eSportsbet.com, and eSportsbet.org, are the first recipients of Same-as-Cash wagers. Concurrently, E-SAFE and eConnect will offer such Same-as-Cash services to competitive gaming sites, and to non gaming Internet merchants.
This press release contains forward looking statements subject to the safe harbor act created by the Securities Litigation Reform Act of 1995. Management cautions that these statements may include projections and estimates of future performance and involve certain risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of factors such as changes in the marketplace, unanticipated competitive activity, a downturn in economic conditions, or delays in product development.
Contacts: E-SAFE: Bruce McWilliam, 011-61-2-9267-7555
eConnect: Carnegie Cooke, Anita Goldberg, 800-262-2331
ET&T: Prima Capital, Elias, 800-600-8599 web sites: e-connect.cc ezyshop.cc
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(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy) |
