FROM the C E O
ECNC shareholders:
I
Have you ever had a parking ticket that had to be paid, or a phone bill
that had to be taken in person to a payment center, or have you ever seen an ad in a magazine, but could not be bothered to write the check?
What if you, on impulse, could send the cash... instantly? No checks.
What if you could access the web site of your mortgage company and make
an immediate cash payment of your mortgage 20 minutes before it was due?
What if you were a merchant, such as a health insurance company, and you
could now offer your customers the ability to see their premium bill on your web site and then make an immediate cash payment to you? By not having to mail a premium notice, you have saved about $2.20 in preparation and handling, and of course by being paid in cash, you can bank the transaction without having to worry about bounced checks.
All of the above is what eConnect is working on. We are simply adapting
the existing technology that you see at gas station pumps and grocery stores and moving it to the consumer who can remotely make electronic payments.
These are PERFECT transactions. These transactions are Personal and
Electronic. They originate from Remote locations such as homes or offices or cars and they are Financially Encrypted bank Card Transactions. eConnect receives a fee per transaction. There are no accounts receivable.
II. Our progress and revenues.
SafeTpay: The development of PERFECT Internet transactions.
A. SafeTpay is scheduled for October testing of Same-as-Cash Internet
transactions. During this month we will be distributing free ePIN units to 100 of
our artauction.com customers who will then be able to use their ATM
card and PIN to:
1. Purchase art from artauction.com: thus, generating revenues
2. Purchase sports memorabilia from econbid.com: thus, generating revenues
We will be expanding our services to other web sites over the next few weeks.
SafeTpay will charge the merchant a fee per transaction.
B. EzyShop: The development of on site PERFECT transactions.
EzyShop (www.ezyshop.cc) consists of the EzyDepot and a four foot podium
on which the EzyDepot rests. By this Saturday, September 18, 1999, we will have deployed our EzyDepots at 10 high traffic locations and will support the
service with local television advertising. We have a total of 50 EzyDepots scheduled for deployment and have another 50 in the process of being manufactured.
We expect to be generating 6% net sale revenues this month from the
EzyShop locations. Ex: The catalog item costs $100; we receive $6 Net sale from the vendor.The goal of EzyShop is to then have the same location evolve into an EzyPay, EzyCash and EzyGame (self service State lottery) location.
C. BetPortal.com:
As a result of our acquisition of artauction.com, we now have the services of the
PowerClick staff who are masters at Internet marketing, and you will soon see substantial daily traffic flowing through BetPortal.com to the various gaming sites. We generate 50% pure profit of the revenues produced from BetPortal.com. We are simply routing traffic in a hyperlink format.
D. 777WINS.com:
We have recently acquired full control of 777WINS. The revenues remain ours. Also, in the event of an outstanding opportunity (such as our artauction acquisition), we have the ability to sell 777WINS.
E. eSportsbet is now separate from eConnect. We are scrupulously following a business plan here, and our monetary return as a result of this carefully thought out decision will be substantial over the next 90 days.
III. Australia and E-SAFE.
From Australia, we will be originating SafeTPay Same-as-Cash pay
per play wagers via 777WINS and eSportsbet. These will be controlled tests
with “winnings” being electronically sent by the 777WINS and eSportsbet banks to the Australian bank where instant taxation of the winnings will occur.
We are convinced that this business model will establish world
government approved and promoted Internet pay per play wagering.
The EzyDepot will also be tested in Australian homes to originate
Same-asCash lottery transactions to Tattersalls.
Over the ensuing months, eConnect will be forming substantial strategic
alliances with well known companies and together we will develop many different types of PERFECT business applications, all of which are hardware originated electronic transactions that will generate a fee for us per transaction.
Thus, you, the shareholder, can see that the thrust of eConnect is focused. It targets the implementation of existing technology in order to accrue revenues. The bottom line IS "the bottom line of ECNC."
Thomas Hughes
C E O and Chairman eConnect
via Manny Vavolizza
Director of Investor and Wall Street Relations
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