ECNC- finally looking stronger on level 2..
for the first time in weeks we finally have a second mm
on the bid,hopefully could be the start of a move..
(BSNS WIRE) eConnect Announces Auction Division September Revenues and E
eConnect Announces Auction Division September Revenues and Earnings
Business Editors/High-Tech Writers
LOS ANGELES--(BUSINESS WIRE)--October 6, 1999--eConnect (BB:ECNC)
has posted $51,000 in revenues and $11,000 in earnings for the Auction
Division from September 7 thru September 30th.
"Since we activated the Auction Division on September 7, we have
been rapidly growing and based on our growth curve, we project a
fourth quarter of $200,000 in revenues and $50,000 in earnings. The
combination of our proprietary Seller's Module in conjunction with
quality offerings, has brought us an average of 200 new registered
users on a daily basis," said James Wexler, President of the Auctions
Division.
"Generating revenues and earnings from our own sites is phase 1.
Phase 2 is generating revenues from providing Auction ePIN services
for competitive auction sites. Beta testing of ePIN payments to our
own sites is scheduled for October 25, after which we plan to roll
out the Auction ePIN service by Thanksgiving," stated Thomas S. Hughes,
eConnect Chairman and CEO.
About eConnect
eConnect is developing Internet alternative payment choices such
as the usage of the ePIN to effect safer credit card or Same-as-Cash
ATM card with PIN transactions. eConnect will generate a merchant paid
fee per transaction. eConnect is developing additional revenue streams
from the launching of ePIN Cash2Trade, which is Same-as-Cash payments
to brokerage firms; the launching of ePIN Internet Cash Pay Per Play,
which is ePIN web casting payments; and the September start of
EzyShop, publicly placed self service catalog Kiosks. eConnect is also
in partnership with E-SAFE to develop revenue from legally sanctioned
gaming in Australia and Ireland.
Certain statements in this news release contain forward-looking
information within the meaning of Section 27A of the US Securities Act
of 1933 and Section 21E of the Securities and Exchange Act of 1934, and
as contemplated under the Private Securities Litigation Reform Act of
1995, and are subject to the safe harbor created by those sections.
All statements, other than statements of fact, included in this
release, including, without limitation, statements regarding potential
future plans and objectives of the company, are forward-looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements.
--30--crd/sf*
CONTACT: International Investor Relations Group
407/865-9433 (November stock broker presentations)
or
Carnegie Cooke (For eConnect)
Anita Goldberg, 800/262-2331 (Investor Relations)
or
ET&T
Prima Capital
Elias Argyropoulos, 800/600-8599
or
web sites:
www.e-connect.cc
www.ezyshop.cc
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET EARNINGS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
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