ECNC:
To: J. Nelson who wrote (2049)
From: TallTrader
Monday, December 13, 1999 9:56 AM ET Reply # of 2050
ECNC: .15x.17 LINUX, share buy back.
LINUX related company (see below), also could have news soon on LINUX. Initiated stock
buyback program having purchased 1.5mil shares on open market with $750k available
to purchase additional shares.
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POSSIBLE LINUX NEWS PER THIS POST ON RB:
By: WallStreetRange
Reply To: 11882 by harris710 Saturday, 11 Dec 1999 at 10:56 AM EST
Post # of 12026
Harris,
You are correct,
Maybe there is another angle by which we can intertwine with Linux via some other Press Release.
I'll pass the word on to Tom et. al.
Manny
ragingbull.com
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MANNY & TOM:
Manny is the Director of Investor and Wall Street Relations for ECNC. He posts on RB
and SI. Tom is the CEO of ECNC.
ragingbull.com
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PREVIOUS NEWS RELEASE LINKING ECNC TO LINUX:
eConnect Announces New E-commerce Business Model With Successful Installation of its
Linux-based Internet Transaction Server
LOS ANGELES--(BUSINESS WIRE)--Nov. 3, 1999--eConnect (OTC:BB:ECNC) has
successfully installed its Linux based Internet transaction server at a participating ATM card
Gateway which is connected to regional ATM networks through a Tandem based transaction
processor.
biz.yahoo.com
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Another older news release mentioning RHAT and LINUX:
NEWS RELEASE 09/07/99
(BSNS WIRE) eConnect Reports First Ever Usage of a Transaction Server Us
eConnect Reports First Ever Usage of a Transaction Server Using Linux, a Major
Milestone Achieved In Development of SafeTpay System for "Same-As-Cash"
Purchases and Bill Payments Over the Internet
Business Editors
LOS ANGELES--(BUSINESS WIRE)--Sept. 7, 1999--eConnect
(OTC:BB:ECNC), a fully reporting company, today announced that its
SafeTpay business unit has successfully completed tests for key
portions of its system for making "Same-As-Cash" payments over the
Internet using ATM cards and bank assigned PINs.
eConnect will use the system to provide transaction processing
services to Internet merchants beginning this fall. A potential
revenue stream of $20,000,000 in 2000 is estimated from merchant fees
generated from the processing of SafeTpay transactions.
SafeTpay offers Internet users the ability to purchase or pay
with cash. SafeTpay will provide Internet consumers with simple
inexpensive ePINs(TM) equipment that will enable home ATM card with
PIN usage. One of the first live tests of SafeTpay will be performed
at econnectauction.com, an Internet sports memorabila
auction site owned and operated by eConnect.
eConnect will be offering the ePIN to its 15,000 registered users
to purchase with either a Same-as-Cash transaction or an enhanced
credit card transaction. After a successful trial, SafeTpay will be
broadly marketed to other Internet merchants, and similar auction
sites, such as eBay(Nasdaq:EBAY). eConnect will generate a fee per
transaction as paid by the Internet merchant.
Usage of SafeTpay offers the Internet merchant the option of
either receiving a Same-As-Cash payment by ATM card and PIN or
enhanced credit card transactions with a lower charge rate to the
Internet merchant. A SafeTpay transaction will also offer Internet
consumers a safer method of credit card payment.
SafeTpay will use a Linux-based Internet transaction server,
connected to regional ATM networks though a Tandem-based transaction
processor. This is believed to be the first implementation of such a
transaction server using Linux, and the first integration of such a
Linux system to a Tandem back-end.
Tandem, recently bought by Compaq (NYSE:CPQ), is the most popular
type of computer for mission-critical on-line transaction processing
application such as banking, reservation systems, and credit card and
ATM card systems. Linux is a shareware operating system experiencing
phenomenal growth for Internet and other applications, due to
promotion by Red Hat (Nasdaq:RHAT) and others.
"Our system contains three software modules, with one to reside
at the merchant's Internet site, one at the consumers browser, and one
being our server. During late August, we provided private
demonstrations of the consumer and merchant portions of the system to
potential business partners and investors.
"Their reaction was very positive. The demonstrations showed how
our software module, working with the Internet Explorer browser from
Microsoft, would enable a typical consumer to make a purchase over the
Internet using their ATM card. We are now preparing to test and
demonstrate the server, which will act as a Gateway for SafeTpay
transactions. Once that is done, we will be ready to process live
transactions," stated an eConnect spokesperson.
Experts estimate that Internet transaction volume in the USA
alone could exceed 250 million transactions this Christmas. eConnect
estimates that consumers, given a choice, might choose to use their
ATM cards for up to 20% of these transactions. That could result in an
annual revenue stream of over $20 million for processing SafeTpay
transactions next year, acting as a gateway for handling these ATM
transactions in the USA alone.
Future potential world-wide is much larger. As soon as SafeTpay
operations are launched successfully in the USA this fall, development
will begin on enhancements to the SafeTpay server software, to support
message formats for ATM cards issued by banks in other countries. This
will enable eConnect to pursue it*s global growth strategy, with
previously-announced partners such as E-Safe in Australia.
About eConnect:
eConnect is the developer of eSecure systems: this is the usage
of simple inexpensive equipment from homes, offices and public
locations to pay with SafeTpay which is either a Same-As-Cash ATM card
with PIN or an enhanced credit card transaction. eConnect generates a
fee per transaction which is paid by the merchant.
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STOCK BUYBACK PROGRAM INITIATED:
Tuesday November 30, 10:56 am Eastern Time
Company Press Release
eConnect Announces $250,000 to Be Spent This Week in up to $1,000,000 Stock Buyback
Over Next 30 Days
biz.yahoo.com
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Dec. 13, 1999 eConnect will expend up to an additional $750,000.00 to buy back shares in the
open market to repurchase its shares
biz.yahoo.com
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OTHER ECNC WEBSITES:
Company: e-connect.cc
AUCTIONS: econnectauction.com
SportsAuction: econnectauction.com
TheArtAuction: theartauction.com
Gamming: 777wins.com |
