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To: MGV who wrote (8395)	7/25/1999 10:19:00 PM
From: David H. Zimmer	Respond to of 20297

On Edgar -- Princeton Ecom Amended S-1. If you cannot receive this with a "click" post and I will submit some of the most interesting parts, like the discussion of revenue. I am starting to see why one of the underwriters just didn't want to hear from me last week. This was filed on Thursday and there is no sight of the offering on ipoexpress. edgar-online.com

To: MGV who wrote (8395)	7/25/1999 10:24:00 PM
From: David H. Zimmer	Read Replies (2) \| Respond to of 20297

Here is the Revenue discussion as stated: Revenues Total revenues increased by $790,000 to $3.8 million in the year ended December 31, 1998 from $3.0 million in the year ended December 31, 1997, an increase of 26%. Service Fees. Service fees were relatively unchanged at $2.4 million for the year ended December 31, 1998 compared to $2.3 million for the year ended December 31, 1997. Revenue was relatively flat because the increase in revenues from our 1-800-PayBill service and Internet bill publishing service was offset by a decrease in revenue from our payment services resulting from some financial institutions electing to bring these services in-house. Service fees represented 62% of total revenues for the year ended December 31, 1998 compared to 77% of total revenues for the year ended December 31, 1997. Interest. Interest revenue increased by $737,000 to $1.4 million for the year ended December 31, 1998 from $699,000 for the year ended December 31, 1997, an increase of 105%. This increase is primarily attributable to an increase in the use of our Balance Transfer Utility service during 1998 which generates higher interest revenue because of the higher dollar amounts associated with this service compared to our other services. Interest revenue represented 38% of total revenues for the year ended December 31, 1998 compared to 23% of total revenues for the year ended December 31, 1997. Good to see that interest income is driving this model. Now I see why they want to raise capital. Hopefully the S-1 filing will allow for a better comparison. I am looking forward to other comments.