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Microcap & Penny Stocks : ECNC (OTC:BB) - eConnect -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (6963)	3/14/2000 12:31:00 PM
From: StockDung	Respond to of 18222

SECURITIES AND EXCHANGE COMMISSION Litigation Release 16233/ August 2, 1999 SEC v. Kanakaris Communications, Inc. et al., Civil Action No. CV-S-99-0967-JBR-LRL. The Commission announced that on August 2, 1999, it filed a complaint seeking permanent injunctions against Kanakaris Communications, Inc. ("KCI"), Alexander Frank Kanakaris ("Kanakaris"), David R. Valenti ("Valenti") and Shawn F. Hackman ("Hackman"), alleging violations of Sections 5(a), 5(c) and 17 (a) of the Securities Act of 1933 and Section 10 (b) of the Securities Exchange Act of 1934 and Rule l0b-5 thereunder. The Commission's complaint also seeks disgorgement from Hackman and civil penalties against Kanakaris, Valenti and Hackman. KCI, Kanakaris and Valenti have agreed to settle the action by consenting, without admitting or denying the allegations of the complaint, to be enjoined from future violations of the registration and antifraud provisions of the federal securities laws; Kanakaris and Valenti also have agreed to pay civil money penalties of $25,000 each. The complaint alleges that from January 1997 through January 1998, Kanakaris and Valenti both officers of KCI, fraudulently sold the securities of KCI and its predecessor company to individuals in several states. In soliciting investments, it is alleged Kanakaris and Valenti made misrepresentations regarding KCI's financial condition and operations. It is also alleged that Kanakaris and Valenti misrepresented to investors that KCI had a joint venture agreement with Microsoft Corporation. Some of these misrepresentations were allegedly also posted on KCI's web site. In addition, it is alleged that Hackman, a Las Vegas attorney, prepared a false offering memorandum for KCI, sold KCI stock using the offering memorandum, and collected and distributed the proceeds of those sales, retaining a substantial portion of those funds for his own use. It is further alleged that Hackman, without authorization from KCI, prepared and filed a registration statement with the Commission which, among other things, misrepresented the shareholdings of KCI's management and major shareholders, stated that no unregistered offerings of KCI's securities had been made within the previous year and, rather than including audited financial statements, contained a review of KCI's financial statements without obtaining the consent of the accountants who prepared the review. sec.gov Last update: 08/03/1999

To: Anthony@Pacific who wrote (6963)	3/14/2000 12:41:00 PM
From: StockDung	Respond to of 18222

tenkwizard.com

To: Anthony@Pacific who wrote (6963)	3/14/2000 12:43:00 PM
From: StockDung	Respond to of 18222

Shawn F. Hackman , Esq., 3360 West Sahara Avenue, Suite 200, Las Vegas, Nevada 89102; sayre, Steve (SSK432) ifrwallstreet@AOL.COM Independent Financial Reports 5300 W Sahara Ave., 106 Las Vegas , NV 89102 (888) 916-0081 Record last updated on 02-Mar-2000. Database last updated on 12-Mar-2000 10:21:02 EST. Independent Financial Reports Announces 2nd Investment Opinion on eConnect CHICAGO--(BUSINESS WIRE)--March 1, 2000--Independent Financial Reports Announces 2nd Investment Opinion on eConnect. (OTC BB: ECNC) Independent Financial Reports, Inc. (IFR) is an independent research corporation dedicated to tracking the best values on the market. Most specifically stocks with the greatest potential for growth in the short and long term. eConnect, a tech stock trading on the OTC BB, experienced explosive growth yesterday. A bulletin board stock which exceeded the growth of many of the NASDAQ Industry leaders in the top 10 of the NASDAQ growth earners. Although explosive growth is not always indicative of sustained growth, Independent Financial Reports believes, based on ECNC's globally relevant technologies, that it will not only sustain its growth over the next several weeks but could very easily be trading at volumes and numbers exponentially above its current figures. As mentioned in the previous report, ECNC has developed an entire line of money management tools to provide real-time, one-swipe processes for all forms of financial transactions; dramatically improving speed, cost and the security of payments and deposits. For a more in depth look into eConnect's technologies visit their web sites at www.econnectholdings.com and www.powerclick.com. IFR holds no stock in ECNC and has not and will not be compensated for its opinion in regard to ECNC. IFR's opinion is based on publicly available information. Certain statements in this opinion contain forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934, and as contemplated under the Private Securities Litigation Act of 1995, and are subject to the safe harbor created by those sections. All statements, other than statements of facts, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. The above article contains the opinion and research of Independent Financial Reports, Inc. CONTACT: Independent Financial Reports, Inc. (IFR) Mark Ryan IFRwallstreet@aol.com KEYWORD: ILLINOIS