Just found this recent ECNC press release:
Tuesday October 26, 9:59 am Eastern Time
Company Press Release
eConnect Continues to Reduce Stock Float
LOS ANGELES--(BUSINESS WIRE)--Oct. 26, 1999--eConnect (OTCBB:ECNC - news) has announced that an institutional investor has agreed to retire 3 million shares of eConnect stock into certificate form.
In addition, eConnect last week reduced the float by an additional 1,500,000 shares of stock, which have been ordered into certificate form.
``Our goal is to reduce the float to 4 million shares of stock over the next few weeks, and we are making good progress in doing so. This float reduction is combined with the forward developments of the company, and we believe that our share value will reflect our efforts,' stated Thomas S. Hughes, Chairman and Chief Executive Officer, eConnect.
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.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the ``Act'). In particular, when used in the preceding discussion, the words ``plan,' ``confident that, 'believe,`` 'expect,`` 'intend to`` and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results could differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings, and other risks.
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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
Prima Capital (for ET&T)
Elias Argyropoulos, 800/600-8599
or
Web sites:
www.e-connect.cc
www.ezyshop.cc |
