Raven McCloud,
First let me tell you I am very partisan to CYCH, but I try to look at the positive and negatives. CYCH bought ICVerify in April which is one of the 2 big Physical Point of Sale transaction processors. (Credit cards at dept stores, etc.) That helped to provide 50% of revenues last qtr. Transaction fees, software sales and maintenance fees. CYCH was paid by a large bank in Japan and Germany to make the CYCH system compatible with their respective currencies about 18 months ago. CYCH internet ventures look as though they just might succeed. Online billings, credit card transactions, just started charging monthly fees to the merchants who use their service, currently over 7,000. Go to the CYCH home page and go thru the merchant list, technology partners, merchant development partners and financial institution partners. They have laid out the groundwork, hopefully the rewards will come next. I've been posting on YHOO thread lately. Just posted a link from an article in Bloomberg tonight after the close where an analyst at J.P. Turner and Co. stated "CYCH has now broken out technically". We still need some MAJOR merchants to really get people to look at us. 1 month ago the CEO stated he had lined up 8 major merchants but would not release their names yet. We're still waiting. |
