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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: J. Nelson who wrote (46011)	12/16/1999 10:04:00 AM
From: TallTrader	Read Replies (2) \| Respond to of 108040

ECNC: .24 x .25, LINUX news, share buy back, SEC reporting, DD below Fully SEC reporting. Initiated stock buyback program having purchased 1.5mil shares on open market with $750k available to purchase additional shares. ================================================================== LOS ANGELES--(BUSINESS WIRE)--Dec. 16, 1999--eConnect (OTCBB:ECNC), fully reporting, has developed the first Linux-based transactional server (LTS) for the purpose of receiving incoming Internet cash payments by ATM card and PIN. The LTS will route into the ATM card Regional Networks the ATM card and PIN Internet cash transactions that have been originated by hardware plugged into a computer keyboard. It is anticipated that the first LTS will soon be receiving the first ATM card and PIN Internet cash bill payments. This is the Internet cash model referred to in the Nov. 18 CNN.com article in which a Star Systems spokesperson referred to three different Internet cash models. Star Systems is a regional EFT that serves 3,700 financial institutions and 79 million cardholders. biz.yahoo.com ================================================================== 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 ================================================================== 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 ================================================================== OTHER ECNC WEBSITES: Company: e-connect.cc AUCTIONS: econnectauction.com SportsAuction: econnectauction.com TheArtAuction: theartauction.com Gamming: 777wins.com ================================================================== 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.