Edward Starrs - CEO/Chairman of the Board/Director/President/Founder MyEcheck, Inc. http://www.forbes.com/profile/edward-starrs/ Mr. Starrs has more than 20 years experience as an international business executive with management experience in multiple industries. He has been an officer and director of MyECheck since its formation in 2004. Previously, Mr. Starrs was President of Starnet Systems International, Inc., a wholly owned subsidiary of a public company that was processing more than $2 billion annually in Internet transactions. Mr. Starrs owned and operated several successful companies including, ERS Marketing, Inc., where he produced over $20 million in contracts for his clients, and Bay Distributing, Inc. a major distributor of over 800 product categories to Fortune 500 accounts. From January, 2002 through October, 2004, Mr. Starrs was President of Digency, Inc., an online payment processing company engaged in credit card and eCheck transaction processing for Internet Merchants. Starrs has also held senior management positions with Fortune 100 companies including McCaw Communications, Inc. (AT&T), and AMF, Inc., the world's largest sporting goods conglomerate. Effective May 21, 2010, the Board of Directors of the Company has appointed Edward R Starrs, the Company's Chief Executive Officer, as acting Chief Financial Officer until a suitable permanent replacement can be seated. MyECheck has been sponsored by Glendale Securities for electronic clearing through DTC, currently pending A/O 5/27/2014 Completion of Audited Financials for 2009-2014 will be completed by Q2 filing Aug 15, 2014 Audited Financials
are required to uplist
to OTCQX After Maintaining a min bid of $.10 for 30 days MyECheck Employees:
Robert S. Blandford: Vice President of Technology, CTO, Director, Secretary Bill Delgado: Board of Director Rod Jalunardo: Chief Operating Officer Bruce M. Smith: CPA, Vice President of Finance, Company Controller, Director Independent Auditors: L.L. Bradford Certified Public Accountants Nate Wigle: VP of Sales & Marketing Brian Phelps: Senior Writer & Content Guru
As of Feb 13, 2014 the CEO has retired 1 Billion out of his 3 Billion shares. OTC Markets will soon update the Authorized & Outstanding Shares to reflect they have both been reduced by 1 Billion. The new A/S is 3.9B & Ed Starrs owns 55% (2 Billion Shares).
|Market Value1 ||$131,785,927 ||a/o Apr 17, 2014 |
|Shares Outstanding ||3,086,321,486 ||a/o Feb 07, 2014 |
|Float ||1,032,648,198 ||a/o Feb 07, 2014 |
|Authorized Shares ||4,900,000,000 ||a/o Sep 30, 2013 |
|Par Value ||0.001 |
A re-birth. 2013 was the year MyECheck re-tooled its business model and successfully restarted growing revenue. It was a
year of modernizing our payment platform and developing services that create multiple revenue streams. 2013 was the
year we shifted focus from internet originated transactions to mobile payments. MyECheck also in 2013 introduced and
successfully deployed a software and patent sub-licensing revenue model. 2013 also marked the development of a person-
to-person payment system, electronic bank accounts, a downloadable merchant commerce solution, and the nations first
and only electronic funds transfer system for government use.
The mobile payments industry currently presents historic opportunities, the size and scale of which have never before
been seen. We believe there is a revolution taking place that is fundamentally changing the way the payments and
banking industries function. Technology now enables transitioning away from traditional brick and mortar banking into
fully electronic banking, and transitioning away from all paper and high fee transactions to low cost fully electronic tranfers
authorized through mobile devices. MyECheck is positioning itself to be a significant participant in the mobile payments
and banking industries.
2013 marks the beginning of a very promissing future for our company. Strategies and systems planned in 2013 are
becoming reality in 2014. We plan to continue to be the innovative leader in the payments industry and will be deploying a
number of new large scale innitiatives in 2014, along with a dramatic increase in our sales and marketing activities starting
in the summer of 2014.
We expect 2014 to be a high growth year for MyECheck, particularly in the third and forth quarters when transaction
revenue from current licensing deals starts to be realized.
Personal Mobile Payment Service
MyECheck is developing and will be launching a mobile Person to Person (P2P) payment
system in 2014. The system will include User downloadable apps that can be registered to a
bank account to enable real time payments to and from any other user on the system.
Electronic Bank Account Service
Registered Users of the Personal Mobile Payment Service can obtain an Electronic Bank
Account on the system that can be funded directly from any checking account or from a
cash loading station. Anyone with or without a checking account will be able to use the
Mobile Payment Service and obtain an Electronic Bank Account.
Real time payments can be authorized from mobile devices and paid with cleared funds
from the Electronic Bank Account to any US bank account, to another User account, to
a mobile number, or to a Merchant Point of Sale Payment System.
Merchant Point of Sale Mobile Payment System
Later in 2014, MyECheck will launch a downloadable merchant mobile payment acceptance
application. The only requirements to become a merchant on the system are a computer
running Intuit Quickbooks software and an Internet or wireless connection. The application
enables real-time authorized point of sale payments from any User app. Merchant invoice
data is captured by the User on their mobile device via Quick Response (QR) code
displayed on the User app. The User authorizes payment from their pre-registered bank
account by entering their PIN or biometric. The unique User token is transmitted to prove
authorization, the bank account is verified again prior to transaction approval and processing.
MyECheck G-Pay enables real-time government account to government account payments, in
addition to business and individual payment acceptance. MyECheck G-Pay service is the only
fully electronic payment service that is capable of processing fully electronic transfers from
government owned bank accounts.
G-Pay application provides easily implemented security and payment capabilities for
government entities to process authorized funds transfers to and from any government owned
The MyECheck G-Pay system has been developed to facilitate an easily implemented solution
for government entities to transition from paper items to real-time fully electronic
payments. G-Pay works with governments existing check payment issuance and tracking
systems that are designed to issue and report paper check transactions. Other system features
include secure system access and transaction authorization verification, and customizable
Sales, Marketing and Distribution
During 2013, the Company has had limited sales and marketing resources and intends on hiring
a Vice President of Sales and Marketing in April 2014. The VP Sales & Marketing will be responsible
for recruiting and managing the sales and marketing personnel. The primary function of the sales
personnel is to promote the sales and distribution of MyECheck’s services through Resellers such as
Payment Software as a Service (SaaS) Providers, Merchant Service Providers (MSPs); and
Independent Sales Organizations (ISOs). The primary function of the marketing personnel is to
present the Company’s services to its target markets through a variety of effective methods.
MyECheck is persuing an aggressive system-licensing plan. We believe that system licensing is the key
to rapid adoption and use of our services. The licensing model is a distinct competitive differentiator
therefore details of the plans and licenses are confidential trade secrets and not subject to public
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This Section Created & Moderated by MODiFiEDZ. Contact Me If You Would Like to Add or Edit Anything Here
MyECheck/PayPal Competitive Comparison Chart
Click Here for Full USPTO.GOV Detailed Description of the Patent Ed Starrs Invented
Method and apparatus for online check processing.
Methods and apparatus for processing an online payment for an item.
Link to Patent on Google with Pics
Pic of Actual Patent Certificate
Jan 9, 2014 MYEC is "The Sleeping Giant" on Seeking Alpha
April 2, 2014 "The Awakening!" of MyECheck on Seeking Alpha
April 9, 2014 The ABC's of MYEC Ed Starrs Posting on iHub Wishing Shareholders A Merry Christmas
Username (verified) Marketing101
Ed Starrs LinkedIn Profile
Ed Starrs Magnificent Home in El Dorado Hills CA Featured in STYLE MAGAZINE During the Height of MyEChecks Success in 2009
GreenPay LLC has selected MyECheck to provide a comprehensive processing solution for the legal marijuana industry. The MJ-Pay app will offer the only industry specific payment solution designed to solve the unique problems present in the legal marijuana industry.
MJ-Pay Apps Scheduled to Launch for All Apple & Android Devices in May 2014 (Now in Beta Testing A/O 5/18/2014)
In 2013 ZipMark wins the award for best eCheck Technology Platform. ZipMark currently uses MyEChecks patent for it's processing.
The Innovation Project 2013 PAYMENT INNOVATOR AWARD WINNERS Visit MyECheck on FaceBook Follow Ed Starrs on Twitter
Follow MyECheck on Twitter
Visit MyEChecks Blog for Updates
"MyECheck sold two licenses in 2013* and will be deploying licensed systems throughout 2014 and beyond." *(MyECheck Version 2.0)*
Q4 EOY 2013
For the twelve months ended December 31, 2013, net profit was $1,018,693 with revenue from operations at $439,233. Total liabilities were reduced by $718,365.
For the 3 months ended December 31, 2013 (Q4), net profit was $465,083 with revenue from operations at $361,402 and total liabilities were reduced by $168,239.
Feb 19, 2014: MyECheck Launches Version 3.0 Check 21 Electronic Payment System Check Data Processor No Longer Requires Bank Partnerships to Provide Real Time Patented Services
1st QTR 2014
May 15, 2014: For the three months ended March 31, 2013, revenue from operations was $1,361,783, total expenses were $37,737, and net income was $1,323,656.
Cash and cash receivables were increased to $1,687,068, and as of May 15, the Company has $1,078,964 in cash. Stockholders equity was increased from a $1.2 million shareholder deficit in the same period previous year, to almost $1.2 million in shareholder equity.
During the quarter, the company sold a number of licenses for it's new mobile payment app system, including custom developed apps with unique security features for specific targeted industries.
(1st QTR 2014 Net Revenue Surpassed the Entire Year of 2013's Revenue & Debt Reductions Combined) MyECheck is now Debt Free
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Newest 2014 MyECheck V3.0 Licensees/Back End Processors a/o 4/20/2014
Sierra Global, LLC
VX Gateway, Inc