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Strategies & Market Trends : STEAMROLLER'S DAYTRADES -- Ignore unavailable to you. Want to Upgrade?

To: HandsOn who wrote (522)	8/25/1998 3:07:00 PM
From: STEAMROLLER	Respond to of 1561

CyberCash adds merchants, CEO buys shares Reuters Story - August 25, 1998 13:06 RESTON, Va., Aug 25 (Reuters) - CyberCash Inc. said on Tuesday that the number of merchants using its Internet commerce software and services topped 7,000, a sharp increase from 280 merchants at the end of 1996. President and Chief Executive Officer Bill Melton, who bought 350,000 shares of CyberCash stock last week for $3.5 million, said in a statement the company's new Cash Register 3 Service is being adopted by about 700 new merchants a month. "We continue to achieve our strategic goals for 1998 and, through equity infusions in the company, our investors have renewed their commitment to CyberCash," Chief Financial Officer Jim Condon said in a statement. "In July, we received $15 million from the same two private equity funds that made private placements in the company in August 1997 and February 1998," he said. The private funding is "more than sufficient to meet the company's anticipated cash needs for at least the next year, while providing the resources to take advantage of strategic opportunities," Condon said. As part of the company's strategic focus this year, CyberCash has continued to develop business relationships with large-volume corporate billers and technology companies, the company said. The company's stock was up 23/32 at 8-11/16 on the Nasdaq Tuesday afternoon, after touching a 52-week low of 7-1/2 earlier in the session