B: eVision USA.Com, Inc. Reports Fiscal 1999 Results
DENVER, Dec 30, 1999 (BUSINESS WIRE) -- eVision USA.Com, Inc. (eVision
or the Company) (OTC BB: EVIS) reports its financial results for the
fiscal year ended September 30, 1999. Revenue increased by $6,805,958,
or 24.9%, to $34,193,262, over 1998 revenue of $27,387,304. The loss
from continuing operations decreased to $3,189,048, or $0.18 per share,
for the year ended September 30, 1999 compared to $6,979,267, or $0.42
per share, for the year ended September 30, 1998. Basic loss per share
for fiscal 1999 was $0.18 per share compared to $0.39 per share for the
prior year.
The increase in revenue is primarily attributable to an increase in
brokerage commissions, trading profits, technology-related operations,
interest income on investments, and gains on the sale of assets.
"We are just beginning to realize the results of our strategic efforts.
Fiscal 1999 was clearly a pivotal year for us. Our traditional
brokerage operations improved; our financial companies have reached
several milestones; and our technology subsidiaries have established
solid foundations from which to build upon. We firmly believe that we
are well on our way to repositioning eVision for success in the new
millennium," stated Fai H. Chan, Chairman and Chief Executive Officer
of eVision.
American Fronteer Financial Corporation (AFFC) increased revenue by
10.7% and decreased operating losses by 35.5% for fiscal 1999 compared
to fiscal 1998. In addition, AFFC established OnLine Broker(TM), an
online securities division of AFFC that intends to provide online
broker/dealer services to new and existing clients in fiscal 2000.
OnLineBroker(TM) is concurrently progressing towards expanding AFFC's
presence into Asian markets.
eBanker USA.com, Inc. (eBanker) achieved several of its business goals
during the year, including completing a handful of significant
customized corporate financing deals. eBanker is currently preparing
for the deployment of its financial solutions website. eBanker
currently anticipates a launch of the first phase of its financial
portal in early fiscal 2000.
eFunds Global, Inc. was established in fiscal 1999, with the objective
of providing eVision clients with online access to a diversified family
of funds. eFunds Global, Inc. made progress towards this goal with the
signing of a letter of intent to acquire a majority interest in Quaker
Funds, Inc.
eVision developments have continued to take shape since the end of
fiscal 1999. In November 1999, Corporate Net Solutions, began the
deployment of its web hosting facilities. In December 1999, NeuroWeb,
Inc. was established and has already begun providing eVision
subsidiaries and external clients with global web development and
e-commerce solutions. Q6 Technologies, Inc., which beginning the end of
December 1999 may be accounted for as an equity investment due to
recent transactions, made progress recently when it entered into two
separate letters of intent to purchase up to a 50% initial ownership
interest in Do Not Disturb, Inc. (DND), and to establish a
joint-venture (CacheStream) with an Internet-based, multicasting
technology developer, IBTech Pte. Ltd. DND plans to develop Internet
products and services designed to protect consumers from unsolicited
marketing campaigns. IBTech is a Singapore-based company specializing
in the development of Internet multicasting technologies.
"We are pleased with our past performance and the progress we have
made. More importantly, we are confident that we will expand upon our
successes in the future. We anticipate continued growth and look
forward to the coming year with tremendous optimism," stated Mr. Chan.
eVision is a Denver-based holding company with consolidated
subsidiaries that operate in the financial services, advanced
communications, corporate management, and technology industries.
eVision subsidiaries include AFFC, an established securities
broker/dealer with ten offices across the United States; OnLine
Broker(TM), a division of AFFC that will enable existing clients to
benefit from lower-cost, online trading and is working towards
expanding AFFC's operations into Asian markets; Corporate Net
Solutions, a technology infrastructure solutions provider that intends
to create leading edge Internet and intranet products and services in
conjunction with web-hosting facilities; eBanker, a global financial
portal which intends to provide specialized financial products and
services to underserved consumer and corporate markets; eFunds Global,
Inc., an online fund company focused on creating and acquiring a
diversified family of funds; Fronteer Corporate Services, Inc., a
provider of comprehensive management and corporate services; NeuroWeb,
Inc., a web development holding company that, through its subsidiaries,
offers global web development and e-commerce solutions; Q6
Technologies, Inc., an innovative technology company engaged in the
acquisition and development of Internet-related technology companies;
Secutron Corp., which designs, develops, markets, and supports software
systems for the securities brokerage industry
The statements included in this press release concerning predictions of
economic performance and management's plans and objectives constitute
forward-looking statements made pursuant to the safe harbor provisions
of Section 21E of the Securities Exchange Act of 1934, as amended, and
Section 27A of the Securities Act of 1933, as amended. These statements
involve risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: eVision USA. Com, Inc, Denver, Colorado
Tony Chan, 303/860-1700
WEB PAGE: businesswire.com
GEOGRAPHY: COLORADO INTERNATIONAL ASIA PACIFIC
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