NEWS!!!
This could be part of the reason for the accumulation.
Tuesday May 2, 7:47 pm Eastern Time
Company Press Release
eVision USA.Com, Inc. Subsidiary's OnLineBroker Division Signs Online Trading Agreement with First Shanghai Investments, Ltd.
DENVER--(BUSINESS WIRE)--May 2, 2000--American Fronteer Financial Corporation (AFFC, www.amffc.com), a wholly owned subsidiary of eVision USA.Com, Inc. (eVision, www.evisionusa.com, OTCBB:EVIS), is pleased to announce the signing of an agreement with the First Shanghai Investments, Ltd. group (First Shanghai, SEHK Symbol: 227) allowing First Shanghai to offer online trading of U.S. securities to its clients through OnLineBroker(tm), a division of AFFC.
OnLineBroker(tm) will provide First Shanghai clients with convenient online access to U.S. securities trading. Under the terms of the agreement, OnLineBroker(tm) and First Shanghai will split net revenues, on a per transaction basis, after deducting certain specified trade-related costs.
``The signing of this agreement with First Shanghai provides OnLineBroker(tm) with an initial foothold into the global securities markets. At the same time, First Shanghai's established client base provides us with a very attractive, low maintenance, recurring source of revenues,'' stated Fai H. Chan, Chairman and Chief Executive Officer of eVision.
OnLineBroker(tm)'s ability to seamlessly integrate U.S. securities trading with First Shanghai's current trading operations was a key factor in First Shanghai's selection of OnLineBroker(tm) as a U.S. securities trading partner. In addition, AFFC's existing relationships provide First Shanghai with the proven technology infrastructure necessary to achieve its global online trading objectives.
``The First Shanghai agreement is a solid affirmation of OnLineBroker(tm)'s business model. We are increasingly optimistic that OnLineBroker(tm) will continue to attract business as it provides localized brokerage firms with a very efficient and effective means to expand their trading operations globally,'' stated Fai H. Chan.
First Shanghai is an Asian-based investment holding company. Through its subsidiaries, First Shanghai operates as an established broker-dealer, and also invests in securities, provides corporate finance and general insurance services. First Shanghai is a publicly listed company, trading on the Stock Exchange of Hong Kong.
OnLineBroker(tm) is the online trading division of AFFC. OnLineBroker(tm) is working aggressively towards becoming a pioneer as a global Internet brokerage provider with an initial focus on the Asian and Far East markets. AFFC is an established, full service investment banking and brokerage firm with twelve offices across the United States.
AFFC is a member of the NASD, SIPC, Boston Stock Exchange and an Associate Member of the American Stock Exchange.
eVision is an integrated online solutions provider with consolidated subsidiaries and significant equity investments operating within five distinct divisions: eFinance, eServices, eCommunications, eInformation, and eMedical.
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. If you would like to receive press releases via email, please contact us at ir@evisionusa.com.
biz.yahoo.com
Contact:
eVision USA.Com, Inc., Denver
Investor Relations Department, 303-860-6388
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