We will have a complete update out tonight, with some very good news about
some past picks. Keep an eye on EVIS this week. Here is some DD below!
eVision(EVIS) is a Denver-based holding company with consolidated
entities that include American Fronteer Financial Corporation, a regional
securities broker/dealer, and eBanker USA.com, Inc. (eBanker) which offers,
among other things, Internet-based high-yield lending opportunities.
Consolidated developing companies include eBroker USA.Com, Inc. (eBroker), a
proposed on-line securities brokerage business. eVision has made a
significant investment in Q6 Technologies, Inc. (Q6 Technologies), a
business venture surrounding technology-based virtual processing arenas with
John Cusick, former founder, chairman and CEO of Primestar, as its chief
executive officer.
eVision USA.Com, Inc. (eVision or the Company) is a corporation that
was organized under the laws of the state of Colorado in September 1988. In
April 1999, the shareholders voted to change the name of the Company from
Fronteerto eVision.
The Company also has a subsidiary, Secutron Corp. (Secutron),
secutron.com which designs, develops, installs, markets
and supports software systems for the securities brokerage industry.
MID/RANGE Solutions Corp is a leading provider of information systems
solutions and services to clients in the Rocky Mountain Region. Our mission
is to provide "state-of-the-art" information systems and superior services
to our valued clients based on client/server and midrange
platforms/technologies. We provide the hardware, software and consulting
services that give our clients the competitive edge in today's dynamic
e-business environment! midrangesolutions.com
WWW.CREDITCARDWEB.COMCORPORATION, a wholly owned subsidiary of eBanker,
was incorporated inColorado primarily to conduct business as an
Internet-based credit cardcompany, but has not yet commenced operations.
Q6 TECHNOLOGIES, INC.In March 1999, eVision formed a corporation that
will focus on the developmentof business opportunities in technology-based
virtual processing arenas. (Q6 or Q6 Technologies) aColorado corporation,
will focus initially on value-added transactionsprocessing for selected
e-commerce applications, as well as the development ofcommercial
opportunities in digital geographic information services and insatellite
internet protocol multicasting.
As of September 30, 1999, AmericanFronteer has approximately 101
account executives and approximately 22,000customer accounts. American
Fronteer acts as a dealer, underwriter and selling groupmember in public and
private offerings of equity securities. 19Trading Division Trading
securities involves the purchase and sale of securities by AmericanFronteer
for its own account. . American Fronteer makes markets in corporateequities
and trades in municipal and corporate bonds and government securities.As of
September 30, 1999, American Fronteer made markets in 32 stocks..American
Fronteer Proposed On-Line Broker/Dealer Division American Fronteer is
developing an on-line broker/dealer division thatAmerican Fronteer believes
will provide American Fronteer with the ability toexpand its broker/dealer
business into Asian markets and will provide AmericanFronteer's existing
clients with the benefits of on-line trading. AmericanFronteer plans to
provide on-line broker/dealer services under the name of OLBroker.Com, Inc.
Further, a letter of intent has been entered into by awholly owned
subsidiary of eVision on behalf of American Fronteer pursuant towhich an
unaffiliated party plans to develop a platform to facilitate
AmericanFronteer's on-line trading of United 20States securities in Hong
Kong. Q6 Technologies, Inc. Do Not Disturb, Inc., a company that engages in
web based consumerprivacy technologies and has entered into a letter of
intent with International Broadcasting Technology to secure a 50% interest
in International Broadcasting's proprietary platform for high bandwidth
Internet multicasting.Secutron is also anInternet service provider providing
Internet services ranging from access to theInternet to development and
maintenance of Web sites. Secutron offers the following software products
to the securities brokerageindustry. The STARS software system is offered to
broker/dealers who clear theirown transactions, and is a totally integrated
software system, which performsall of the functions, required by
self-clearing broker/dealers.
eBanker also intends to provide a number of business services in
conjunction with customized corporate financing. The services may include
managerial advice, accounting and administrative support, human resource
services or any other service where eBanker can cost-effectively assist its
clients. eBanker also plans to provide numerous informational and
match-makingservices. These services are designed to attract users to the
eBanker website,with the intent of generating traffic, revenues and brand
recognition. eBankerplans to offer both free and premium financial
information. This information mayrange from stock quotes to market
commentary to current mortgage rates. eBankeralso plans to provide numerous
links to external products and services with theintention of receiving
royalties in the process. eBanker also plans to trackindividual user
preferences and to solicit input from its customers, customizingwebsites to
meet individual needs and preferences.
eVision USA.Com, Inc. is pleased to formally announce the appointment
of Deloitte & Touche as its independent auditors. Their world-class client
service teams combine insight, business knowledge, and industry expertise to
assist their outstanding clients in achieving success wherever they operate.
EVIS has expanded with new branch openings in San Francisco, and New York
City.
Fai H. Chan, President and Chairman of the Board of eVision stated, "The
change in auditors is important as it demonstrates our efforts in uniting
our global operations with our majority shareholder, Heng Fung Holdings
Company Limited, who is served by Deloitte Touche Tohmatsu."
Online Credit International Ltd, located in Hong Kong, formerly Heng
Fung,which is engaged in property investment and development, financial
services, building materials, machinery and pharmaceutical products owns
38.1% of EVIS.
Quaker Funds
eVision USA.Com, Inc. (OTC BB: EVIS) signed a letter of intent to
acquire control of Quaker Funds, Inc. (see www.quakerfunds.com
<http://www.quakerfunds.com>). Quaker Funds, Inc. is the developer and
sponsor of the Quaker Family of Funds, a group of six mutual funds having
approximately $70 million assets under management with an independent
institutional investment advisor managing each fund. The Quaker Aggressive
Growth Fund was rated fourth among the top fifteen performing mutual funds
evaluated by the Wall Street Journal on August 2, 1999. The Quaker
Aggressive Growth Fund, according to the Wall Street Journal, reflected a
60.25% return for the 52-week period ending July 29, 1999.
"This acquisition will add a new dimension to the Company's
broker/dealer related business which has traditionally focused on retail
sales and corporate finance," said Mr. Fai H. Chan, President and Chief
Executive Officer of eVision. "This should enhance our asset-gathering
abilities."
The terms of the acquisition include payment of 4,666,667 shares of
common stock of eVision. After the acquisition, eVision would own
approximately 60% of Quaker Funds, Inc. The Quaker Funds, Inc. shareholders
will be able to sell their eVision stock back to eVision if the eVision
stock does not trade at an average price of $3.00 per share for a period of
time between one and two years after the closing.
The Quarter Funds are now distributed through Schwab OneSource, Waterhouse
Advisor NoFee Network, Vanguard Brokerage Services, Fidelity FundsNetwork,
E*Trade and other mutual fund "supermarkets." The Quaker Funds will now be
made available through American Fronteer Financial Corporation, a subsidiary
of eVision.
FINANCIALS
Revenues for the three months ended June 30, 1999 were $10,005,464,
biz.yahoo.com an increase of $4,406,131 or 78.7% over
the revenues of $5,599,333 for the three months ended June 30, 1998. The
increase primarily relates to increased computer hardware and software
operations, and interest income on investments and loans and brokerage
operations which increased approximately 32% for the qtr ended.
The primary reasons for the increased activity were general market
conditions and positive results from the Company's research recommendations
that were acted upon by customers.
positive results from the Company's research recommendations that were
acted upon by customers as well as increases in the Company's positions in
securities in which the Company makes a market. The bottom line reflected a
.01 vs a .14 loss per share which indicates that their new business plan is
quite effective.
The Company, as of June 30, 1999, had $5,354,438 in cash and cash
equivalents and $14,251,982 in working capital. "We continue to see the
effects of our expansion and development efforts in our operating results.
Our increase in revenues and decrease in the net loss reflect significant
improvements. Currently, the majority of our revenues are derived from our
broker/dealer operations. We are extremely confident that once our other
subsidiaries, eBanker and eBroker, become fully operational, our operating
results will be even better than we have recently seen," said Mr. Fai H.
Chan, Chairman and Chief Executive Officer of the Company.
According to two different sources there are a little over 19M shares
outstanding and the float is at 3.6M. Furthermore there is .77 cash on
hand(that corresponds with working capital on S/1). The stock is trading at
.6 x sales(sh prices 1.2). biz.yahoo.com
marketguide.com Priced @1.20 puts the EVIS
mkt cap at 24M.
.TECHNICALS
clearstation.com
i- Clearstation makes it simple by color coding the
trend, which is green, and that means uptrend and that is where the easiest
money is made. I ran a 6 month chart on EVIS is was so confident that the
technical were never better and I was right. The OBV, relates price to
volume, and tries to capture the buying and selling pressure in the market.
The OBV has never been stronger in 6 months which means the price should
keep acclerating(12-12-99). EVIS has steadingly increasing volume which is
one of the earliest buy indicators. The 13ema is well above the 20ema.
The macd is trending strong above the midline. The histogram shows the
strength of the movement and it is a surging tide.
Year 2000
The Company has continued working with third-party suppliers of
software and related services in resolving Year 2000 issues and anticipates
testing will be completed by August 31, 1999. No matters have come to the
attention of management of the Company which would indicate that the
estimated total cos of the program should be revised. The cost had been
estimated to be less than $50,000.
TECH ADV/INTERNET INCUBATOR
Evis established its Technology Advisory Group designed to support the
identification, evaluation and selection of small, emerging high tech
internet companies in need of equity and debt funding. eVision's Technology
Advisory Group will be made up of current and former technology executives
from the areas of computer hardware and software, telecommunications,
Internet-related e-commerce, and medical data processing. The group's
initial members are Jim Bracking, Peter Stanforth and Charles Brink.
Jim Bracking has been involved in several successful, Silicon Valley
start-ups over the last twenty years. Most notably, Mr. Bracking was a
co-founder and executive of Puma Technology, Inc. (NASDAQ:PUMA
</quickchart/quickchart.asp?symb=PUMA>). He was also recently involved in
the organization of a Boulder-based Internet software company, Novazen
Software, Inc. "Participating in the creation of several technology
start-ups and having to address their ongoing funding requirements, it is a
pleasure to work with a firm that is committed to earlyidentification of the
most promising, emerging high tech companies," said Mr. Bracking.
Peter Stanforth is a British-educated, telecommunications software
engineer who has participated in the creation of several software companies.
Mr. Stanforth is a leading expert in the design of digital switching
technologies and wireless application platforms. Mr. Stanforth has held the
position of Director of Technology for SHL Systemhouse as well as other
senior engineering positions with ITT and Philips. Mr. Stanforth has also
been widely published in several telecommunication journals, and was also a
co-founder and Vice President and Chief Technical Officer for Phoenix
Wireless Group, Inc., recently sold to Excel, Inc.
Charles Brink is a corporate attorney specializing in Intellectual
Property law, having participated in the founding and management of several
telecommunications software companies. Mr. Brink has been involved in the
creation of wireless joint venture projects throughout Asia and South
America. Originally trained as a mergers and acquisition due diligence
attorney, Mr. Brink founded his first software company TCT/Com Dev, in 1986
which engaged injoint application development with several regional bell
operating companies.
RENCENT NEWS/PENDING EVENTS/INDUSTRY
The following information was received from a prominent EVIS employee. Any
day now, the test site for "olbroker.com" should be up and running. This
will be primarily for Asian customers trading American Securities but, will
not exclude world wide trading. In Hong Kong, there are already 5 broker
relationships establsihed and 30 should be easily accomplished. EVIS has
very strong Hong Kong stock exchange affiliations since Online Credit is
based there. By mid january, the Ebroker should be a fully functional
trading website. EVIS will likely do IPO spinoffs of Ebanker and Ebroker
which will benefit current shareholders with some type of dividend. Ebanker
should be a reality in the 1st qtr of 2000. Eight webdevelopers have been
hired in Vancouver, BC to concentrate on the Ebanker and Ebroker. EVIS has
hired eight full time webdevelopers in the Vancouver, BC office. Online
Credit have hired 24 webdevelopers in Hong Kong and they are working 24
hours a day. EVIS will have a home website by the end of january. Q6 is
preparing for its first round of financing which investment bankers are very
anxious to participate. Q6 will announce its endeavors by the end of
january. It is rumored and there is some evidence that EVIS is going to
sign a large contract with an internet co to become an ISP(interrnet service
provider). Ecommerce is rumored to be in the newmaking also for EVIS.
But the payoff could be big and the prospect of clients trading at any
given moment from any point around the globe is simply too enticing to
ignore. Most analysts point to the Far East, including Japan and Hong Kong,
as the regions with the greatest potential for growth in online trading.
ragingbull.com
The Stock Exchange of Hong Kong Ltd said it will sign an information sharing
agreement with the Nasdaq-Amex Market Group in New York on Monday, paving
the way for dual listings of stocks in the two exchanges.
biz.yahoo.com
COMPARISONS
To further your interest, one
company that EVIS is being compared to is HRCT because of a somewhat similar
business plan. Look at the HRCT chart. Of course, HRCT has had numerous news
releases.The amazing thing is that HRCT,a company with zero revenue 2
employees and a float of 6.5 million has a market cap of 374 million,(at a
stock price of 19) while EVIS, a company with 28.8 mil in revenues, 222
employees and a float of 3.6 mil has a market cap of 24 million. So for evis
to get to even 1/2 the market cap of HRCT, it would have to trade at around
10 dollars/share. |
