ECNC (OTC:BB) - eConnect Message Board

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Microcap & Penny Stocks : ECNC (OTC:BB) - eConnect

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To: Jorjenzak who wrote (3117)	10/28/1999 5:16:00 PM
From: M Vavolizza	Read Replies (3) of 18222

Australia Update an"25% Clarification" from the CEO: The groundwork for obtaining capital for a buyback was laid in Australia, but the deal is still on-going and in negotiation. The company still fully intends to do a traditional buy back if and when the funding is obtained from dealings with Iain Grey and his group or from other contacts in Australia. The company will not commit capitalization funds designated for current on-going projects like cash2trade and safetpay to buying back shares. That is why, in the interim, we shall work with Australia on getting a fund to buy back shares. Mr. Hughes is also looking for other ways to dry up the float, i.e. calling in certificates and sending them to the company attorney to hold in escrow for 90 days. This is just a concept Tom wishes to share with the threads for feedback, and it is not a "done deal." The company is working out details with its attorneys and clearing agent. If it appears viable and positive for ECNC, then a PR with details will follow.

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