Goodmorning David! Have you been watching ECTS? This one originally hit my radar screen at around $6 a share. This morning it rolled through $30 before starting to pullback. I'll let you read today's press release and then I'll comment:
Electronic Transfer Associates Inc. Announces 2 for 1 Forward Stock Split
NEW YORK--(BUSINESS WIRE)--Jan. 26, 1999--Electronic Transfer Associates, (OTC BB:ECTS), a New York based Internet company, will split the Company's publicly traded shares 2 for 1.
The record date for the stock split will be announced the first week in February, 1999. Management believes a 2 for 1 stock split may create a less volatile market.
Electronic Transfer Associates is presently positioning itself to launch its new web site, marketoutlet.com. Electronic Transfer's business strategy is to create a virtually limitless marketing site for the purchase of discounted products on the Internet. This ''outlet mall'' on the Internet will operate much like an outlet mall, yet with a much wider audience and a limitless product range.
Today there are tens of millions of individuals using the internet. Many internet sites such as Yahoo (NASDAQ: YHOO - news), America On-Line (NYSE: AOL - news), eBay (NASDAQ: EBAY - news), and Amazon.com (NASDAQ: AMZN - news) receive a substantial percentage of this traffic. Many of these internet users purchase the products that uBid (NASDAQ: UBID - news), Creative Computers (NASDAQ: MALL - news) and SkyMall (NASDAQ: SKYM - news) offer via their internet sites. Electronic Transfer believes its new site could capture a large percentage of this internet traffic. Such traffic will enable many of the companies to gain a great deal of exposure for their products.
Companies in nearly every industry (computers, books, clothing, etc.) offer quality products to be purchased at a discount. These corporations produce volumes of overstocked or discontinued products that they are willing to sell at a discount. The new site will provide a forum for both wholesalers and retailers to sell these products on, while providing the consumer with discounts on quality items. To accelerate the growth of Electronic Transfer Associates, the Company is continuously seeking additional clients and product lines to sell via the Company's new web site.
Other Internet companies which have undergone or announced stock splits or stock dividends are: Amazon.com (NASDAQ: AMZN - news), Yahoo (NASDAQ: YHOO - news), Broadcast.com (NASDAQ: BCST - news), and Citron (OTC BB: CTRN).
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbors created by those sections. These forward-looking statements include statements related to potential mergers and the effect of those mergers on the prospects of the company. Actual results may differ materially due to a number of risks, including the uncertainty of the completion of the contemplated transactions. This press release provides general information and should not be construed as an offer to sell securities. The material contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. This report is for informational purposes only and should not be construed as advice or as meeting the investment needs of any particular investor or designed to be the basis of any investment decision.
Contact:
for any requests, please fax:
706/343-0086
biz.yahoo.com
RDIM will be offering complete product lines from thousands of name brand manufacturers, not overstocked or discontinued items. ECTS traded as low as 153/256 and now it's at $28 a share about to split.
I see RDIM at today's price as having higher potential and less risk. That's just my opinion but the gist of what I am saying is that OTC BB stocks in this area of the market can and do really rise far beyond investor's expectations. RDIM may do the same if everyone will stop looking at it tick to tick, day by day.
Any pullback has to be looked at as a buying opportunity. We know there is news coming. The only question is how soon and in the long run even that doesn't matter to someone who wants more for less.
Regards, Jeff |
