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Technology Stocks : ICHG - iChargeIt Inc -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Jens Tingleff who wrote (37)	4/9/1999 8:57:00 AM
From: Dean Dumont	Respond to of 347

ocregister.com ocregister.com iChargeit charges ahead with 179% gain STOCKS: The Huntington Beach firm hopes to sell Internet access points to retailers. April 8, 1999 The Orange County Register HUNTINGTON BEACH — Shares of iChargeit Inc., a start-up company hoping to sell store terminals that would give consumers Internet access away from home, soared 179 percent Wednesday, the third-biggest gainer on U.S. markets. The $8.19 increase, to a $12.75 closing price, appears to be part of a wave of rapid buying and selling of shares in small, Internet-related issues — often dubbed "day trading." At Wednesday's closing price, iChargeit, which has yet to file financial statements with the Securities and Exchange Commission, was valued by traders at roughly $90 million. iChargeit Chief Executive Jesse Cohen said he could not explain Wednesday's surge. The big gain came a full trading day after iChargeit announced that it has a leasing agreement that will let retailers rent an iChargeit terminal for as little as $200 a month. "Think of it as a pay phone for the Internet," Cohen said. For 35 cents a minute, a consumer can log on to the Internet at an iChargeit terminal to check e-mail or news, conduct a video conference or shop at stores through the iChargeit.com Web site. "I was hoping the day traders wouldn't get to me so soon," Cohen said. iChargeit stock, with the symbol ICHG, started trading on the Bulletin Board just two weeks ago. The firm went public through a reverse merger with a shell company that was already public. iChargeit's surge follows a steep two-week run-up in shares of GCST Corp. of Laguna Hills (ticker symbol GCCT). Shares of GCST, which is building an Internet-based retail mall, went from $1.25 on March 25 to $16.75 on Monday. GCST closed at $10.25 on Wednesday. -------------------------------------------------------------------------------- #1 newspaper in Orange County, California Copyright 1999 The Orange County Register Please send comments to ocregister@link.freedom.com