ECOM news. Jeff
04/08 09:45 'ECEE' to Begin Trading <ECOM.OB>
'ECEE' to Begin Trading DEADWOOD, S.D., April 8 /PRNewswire/ -- E-Commerce West Corp. today announced that it's common shares will commence trading Monday, April 12, 1999 under the symbol 'ECEE' (OTC Bulletin Board). Previously the Company's common shares were traded under the symbol 'ECOM' (OTC Bulletin Board). The change was mandated by Nasdaq as any time a company applying for listing on Nasdaq wants to use a stock trading symbol currently in use by an OTC Bulletin Board company, the application will be granted and the OTC Bulletin Board company is required to change its symbol. "Last week an unrelated company issued a press release stating in connection with it's filing for an initial public offering, it has applied to Nasdaq to use the stock trading symbol currently in active use by E-Commerce West. This led to confusion not only with our stockholders but the investment community and caused a dramatic and artificial increase in our trading volume," said Jon Elliott, E-Commerce West's President & CEO. "It's unfortunate that a fully-reporting company, current with all its filings, having nine market makers and actively traded is forced to devote the money and time associated with the symbol change-over. Our symbol is printed on our stock certificates and letterhead thus necessitating re-printing. Further, investors who prudently check a stock's trading history will, in most cases, come up empty as to our history once the change has taken effect," stated Elliott. Internet companies that trade on the OTC Bulletin Board that could also be vulnerable to losing their stock trading symbol are GoodNoise and Youbet.com, both with recent announcements of financings in excess of $30 million; Virtual Technology and Nettaxi both of whom completed seven figure financings and Ecom Ecom.Com and Netoy Com (NTOY) who both recently announced significant partnerships. "We believe our new symbol 'ECEE' will be referred to as 'EC' by the investment community thus maintaining an association with the Company's corporate direction in e-commerce. The announcement of the launch of our first year-round retail Web site will be made in the near future," continued Elliott. E-Commerce West is a forward thinking, long-term focused Company who will develop, operate and acquire niche Web sites designed to make life easier through e-commerce. eChristmastrees.com which launched during last year's Holiday Season was the Company's first Web site. The Company has additional Web sites in various stages of development designed to launch this year. This press release contains forward-looking information. These forward- looking statements, which by their nature are subject to risks and uncertainties include but are not limited to additional financing availability at acceptable terms, are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. (PSLRA -'95). These forward-looking statements may be significantly impacted, either positively or negatively, by various factors described in the Company's Form 10-K for the year ended July 31, 1998 and the Company's Form 10-Q's for the quarter's ended October 31, 1998 and January 31, 1999 as filed with the Securities & Exchange Commission. Therefore, actual results may differ materially from any forward- looking statements. SOURCE E-Commerce West Corp. -0- 04/08/99
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