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Hopefully with all your bashing you kept at least 1 .0045 locked and loaded to help you when the PPS drops to .0001
Read page 37 and 38 it states that real time clearing not achievable with ACH another win for MyEcheck!
http://fedpaymentsimprovement.org/wp-content/uploads/faster_payments_roundtable.pdf?elq=394dceebef624b7995610a3fe70e432d&elqCampaignId=131
Evolve ACH to
provide
increased
batch clearing
windows:
? Requires FIs to increase
frequency of processing
ACH files which includes
manual steps
? Given batch nature of
ACH, speed of
payments processing
and posting may be
limited to hour(s),
dependent on FI
? Real-time clearing not
achievable
Key design components
? Network operators increase the frequency
of receiving and distributing ACH batch
files to achieve intraday network clearing
? FIs need to originate, receive, process and
post ACH payments more frequently to
match intraday network clearing
? Increase settlement speed to late-day
(e.g., 5:30 PM EST) settlement (in addition
to next day) using existing settlement
systems (ACH settlement, NSS)
Hopefully we will see rapid growth with the new sales team.
Thank you
You don't get it do you when you are trying to GROW a business Cash is KING! It wouldn't be wise to use cash to pay off debt when you need so much cash to make payroll etc..
Really well i'm a business owner and lets see hmmm how could i use this $78,000 to get this business back on track. Fck what a share holder thinks I need to get this business back off and running to bring value to my company and PPS I need Staff, Lawyers, Auditors, Office, Office equipment, payroll etc...
Cash is King and credit is Queen
You can't make a statement like that unless you knew every single detail about that past, present and future of the company other than that your just assuming and as far as i'm concerned save those assumptions and just ask for real answers.
May is 3 months later and that's not weird at all seems very normal giving the time between the 2
Ed is not playing about building this business a Bank Consultant with established relationships could be a tremendous asset to the company.
What are you kidding from the looks of everything surrounding this company and the industry I think this will go down as one of the best investments I ever made.
longs will get the last laugh with a toast if I must say...It's only a matter of time now everything is in place, the company is confident enough to add employees revenues are on the rise and the PPS must follow sooner or later.
Money is flowing into MYEC like never before. Adding employees is almost always a positive sign of growth.
Electronic Trading: The Role of a Market Maker
By Investopedia Staff A A A
Related Searches: Beginners Guide to Investing, Yahoo Finance, Shareowner Services, Google Finance, Prudential
Market makers compete for customer order flows by displaying buy and sell quotations for a guaranteed number of shares. The difference between the price at which a market maker is willing to buy a security and the price at which the firm is willing to sell it is called the market maker spread. Because each market maker can either buy or sell a stock at any given time, the spread represents the market maker's profit on each trade. Once an order is received, the market maker immediately sells from its own inventory or seeks an offsetting order. There can be anywhere from four to 40 (or more) market makers for a particular stock depending on the average daily volume. The market makers play an important role in the secondary market as catalysts, particularly for enhancing stock liquidity and, therefore, for promoting long-term growth in the market.
Market makers must maintain continuous two-sided quotes (bid and ask) within a predefined spread. A market is created when the designated market maker quotes bids and offers over a period of time. They ensure there is a buyer for every sell order and a seller for every buy order at any time.
Once the market maker has entered a price, he or she is obligated to either buy or sell at least 1,000 securities at that advertised price. Once the market maker has either bought or sold these shares, he or she may then "leave the market" and enter a new bid or ask price to make a profit on the previous trade.
For example, let's say that a market maker has entered a sell order for Microsoft (MSFT) and the bid/ask is $65.25/$65.30. The market maker can try to sell shares of MSFT at $65.30. If this is what the market maker chooses to do, he or she can then turn around and enter a bid order to buy shares in MSFT. The market maker can bid higher or lower than the current bid of $65.25. If he or she enters a bid at $65.26 then a new market is created (referred to as making a market) because that bid price is now the best bid. If the market maker attracts a seller at the new bid price of $65.26 then he or she has successfully "made the spread." The market maker sold 1,000 shares at $65.30 and bought these shares back at $65.26. As a result, the market maker made $40 (1,000 shares x $0.04) on the difference between the two transactions. This might not seem like much, but doing this repeatedly with larger order sizes can provide lucrative profits. All day long market makers do this, providing liquidity to individual and institutional investors. The major risk for the market maker is the time lapse between the two transactions; the faster he or she can make the spread the more money the market maker has the potential to make.
However, making money from the differences in bid and ask prices is not the only function of market makers. Their first priority is to provide liquidity to their own firm's clients, for which they will receive a commission. They may also facilitate trading for other brokerage firms, which is very similar to the duties of a specialist.
It should also be noted that market makers are required by law to give customers the best bid or ask price for each market order transaction. This ensures a fair and reasonable two-sided market. If these regulations were not in place, customers' profits would be gouged and share prices would be much more volatile than they already are.
http://www.investopedia.com/university/electronictrading/trading3.asp
Good call I think they have some very exciting news to release prior to OCT a huge catalyst is in the works I bet.
Go $MYEC
Thanks that's great news!
Does anyone know if the value of the patent will be included in the audited Fins if so that would be another unexpected gift for many.
Thank you...just hold tight this is freakin MYEC!
Ed's message means only good news is ahead, it's just a hint on how big this is going to be. We all know where this stock will be trading in the next 5 years. I'm holding out to get the maximum return on my investment.
IMO someone with as little as 10,000 shares can make 10 times as much as a flipper with a 1,000,000 shares by holding out longer as MYEC regains it's strength, this is a REAL company on the rebound with a REAL PATENTED PRODUCT in a $44 Trillion dollar industry not some penny stock scam!
Never forget we have this opportunity to buy MYEC at these prices only because a Bank went out of business, if that had not happened ED wouldn't be surrounded by a bunch of penny minded, paranoid, non believing, speculative, doubting individuals in this OTC cesspool.
This is not a Penny Stock in a sense, it never should have been here!
Go to my post 155168 and scroll down. For some reason I can't copy and paste it
Ummmm Networking u think?
Sometimes looking at a companies past accomplishments can give you an idea of it's potential future.
http://www.qualitystocks.net/messageboard/viewtopic.php?p=14017#p14017
MyECheck offers online merchants, call centers, billers, retail POS and RDC/back office applications an array of comprehensive Check 21 imaging, processing and related solutions. The company was created to meet the demand for an alternative payment solution to credit cards when buying products and services online. By utilizing a patent pending method of creating and clearing remotely created checks, MyECheck provides businesses with fast, secure and convenient payments.
The company has made great strides since its inception four years ago. MyEcheck has stayed committed to enhancing its offerings as well as launch brand new services, making it a leader in Check 21 solutions today. The company is known for offering the most comprehensive suite of electronic check processing services in the industry.
MyECheck differs from ACH by increasing capability with consumer accounts, expediting the clearing process, and providing exceptional charge-back protection. The regulations imposed by Check 21 law and Uniform Commercial Code (UCC state law) are more favorable to the recipient than those governing ACH transactions, allowing simplification, easier compliance and reduced costs.
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Postby QualityStocks » Thu Jun 12, 2008 12:09 pm
MyECheck Inc. (MYEC.OB) Announced the Addition of Symmetry Direct Corporation to Online Processing List
MyECheck Incorporated is a financial electronic transaction processor and provider of alternative payment solutions for Internet and mobile commerce. Recently, MyECheck proudly announced that Symmetry Direct Corporation is now processing live though MyECheck’s Check 21 Software. With this partnership, Symmetry Direct can now benefit from the increased sales, lower costs, faster clearing time and fund availability associated with MyECheck merchants.
The CEO of MyECheck, Ed Starrs, commented on the addition of Symmetry Direct by saying, “A sea change is underway in the online payments world, with credit cards losing dominance as new payments options emerge. Credit cards accounted for over 90% of online payment volume in 2000, but will only account for a minority of e-commerce dollar volume by 2009. MyECheck is part of that revolution.”
Symmetry Direct is a producer of nutritional supplements, weight management products, and nutraceuticals. They are based in Milpitas, California and have been operating in the supplement market since 1995. The company has been experiencing consistent double digit revenue growth and is now turning to MyECheck to help continue this trend.
MyECheck will provide Symmetry Direct with a substantially reduced number of charge-backs and risk, and improve cash-flow. Moving forward, all transactions can be guaranteed by MyECheck, eliminating the impact of fraud on Symmetry Direct. These transactions will deliver success rates exceeding those of card and ACH eChecks.
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Postby QualityStocks » Thu Jun 12, 2008 12:12 pm
MyECheck, Inc. (MYEC.OB) Reports a Substantial Rise in Unaudited Revenues in Second Quarter
MyECheck, Inc. (OTCBB: MYEC) recently announced that unaudited revenues for the first two months of the second quarter of 2008 increased over 100% compared to their first quarter’s results. For the month of May 2008, the company’s unaudited revenues increased by over 60% compared to the numbers in April 2008.
The company pointed out that, although there has been an economic downturn in many regards, their latest figures demonstrates a significant change when it comes to online retailing. A recent report by eMarketer estimates that U.S. retail e-commerce sales (excluding travel) will reach as much as $146 billion during this year alone, a 14.3% increase from 2007. It should be noted that the numbers specified in the company’s report are unaudited, and are only based on the financial information that is available to them.
According to Barrington Research, the 16-stock group of electronic transaction processors recorded their second consecutive month of positive price performance with a mean return of 4.47%. Some of the stocks that registered prosperous returns for the month include Western Union at 2.8%, Cardtronics at 18.9%, Heartland Payments at 17.9%, Global Cash at 15.7%, and Fidelity National at 11.7%.
Ed Starrs, CEO of MyECheck, said, “Our growth in this period is unprecedented for the company, and we expect that we will continue to increase our revenues as more of our customers are added.”
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Postby QualityStocks » Thu Jun 12, 2008 12:20 pm
MyECheck Inc. (MYEC.OB) Signs CedarStore.com Network of Sites to Its Online Check Service
Since the beginning of the year, MyECheck, an electronic transaction processor and provider of alternative payment solutions, has been adding on new online retailers to its electronic processing services. Included in that list is CedarStore.com, which MyECheck announced this morning has a signed an agreement to use their products and services.
According to the agreement, CedarStore.com’s customers will now be able to use their checking accounts as an additional form of online payment. CedarStore.com strives to make the customer’s experience easy and fun. Using MyECheck’s patent-pending software, CedarStore can debit every U.S. checking account, including accounts that ACH can’t debit, thus providing CedarStore.com financial access to more consumers and businesses than any other payment method.
Established in 1992, CedarStore.com is the leading supplier of outdoor furniture and gazebos in Pittsburgh and Western Pennsylvania. Since 1999, their online store has been gaining global popularity with people from around the world. The company’s specializes in outdoor living and their list of products includes patio gliders, chaise lounges, porch swings, rockers, picnic tables, gazebos, and much more. They also have other informative websites where their customers can get information on the different characteristics and advantages of the materials used in Cedarstore.com’s products. Those sites are a part of the Cedarstore.com network that will also utilize MyECheck products and services.
Another benefit that MyECheck provides its merchants is reduced charge-backs, and the ability to verify the status of a customer’s bank account, including bad checks, prior to authorizing a transaction. They also offer full integrated collections at no additional charge, and payment guarantees.
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Postby QualityStocks » Thu Jun 12, 2008 12:27 pm
MyECheck Inc. (MYEC.OB) Signs Unlimited Furniture to Its Online Check Service
MyECheck Inc. (OTCBB: MYEC) announced today that it has signed on a new client, Unlimited Furniture, and will be providing the company with its comprehensive suite of electronic check processing services. The accord will give Unlimited Furniture customers the ability to use their checking accounts as an alternative way to pay for products.
MyECheck’s unique patent pending software is able to debit any U.S. checking account, including those that ACH cannot debit, enabling online merchants to expand their potential marketing base to more consumer and businesses. The process doesn’t require a physical check and adheres to the Check 21 specification.
“The US Department of Commerce released retail e-commerce sales data recently showing that online sales grew by 13.4% during Q1 2008 over Q1 2007,” commented Ed Starrs, CEO of MyECheck. “Combined with an increase in the use of electronic check payments, we expect our services to be in ever increasing demand as our software gains traction.”
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Postby QualityStocks » Wed Jun 18, 2008 1:23 pm
MyECheck Inc. (MYEC.OB) Services Giving Businesses Confidence in a Shaky Economy
MyECheck Inc. is a financial electronic transaction processor and provider of alternative payment solutions for Internet and mobile commerce. In today’s turbulent economy, cash and electronic transactions are the preferred method of payment by vendors, and surveys show that consumers like using checks. A perfect solution is MyECheck, and the company provides a variety of services that can be used by vendors to expedite check clearing and availability, reduce risk, improve cash flow and provide greater confidence in successful transactions.
These services are available for many applications and can be used for transactions made over the Internet, or the phone. They can also be used for recurring payments and batch payments. These services are compatible with bank accounts in over 120 countries and facilitate fund transfers from 21 different currencies. The methodology employed by MyECheck prevents consumer-initiated repudiation and chargebacks, eliminating most types of international payment fraud.
MyECheck also offers several value-added services as an option to customers. Their Financial Verification Services, or FVS for short, allow MyECheck to verify the status of the customer’s bank account and determine if the customer is a recent check bouncer. The Guaranteed International Payments plan, GIP, offered by MyECheck guarantees payment internationally within 2 to 3 days and will perform a low-cost, foreign currency exchange when needed.
In addition to FVS, MyECheck offers an Identity Validation Service which can be purchased at three different levels. These levels vary from a basic identification check all the way to an in-depth validation report. Finally, MyECheck offers a collections and guarantee service which provides a cost-free, fully integrated collections service, and for a minimum fee can provide a payment guarantee. All of these features are helping to restore confidence to the growing list of vendors signing up with MyECheck.
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Postby QualityStocks » Wed Jun 18, 2008 4:44 pm
MyECheck, Inc. (MYEC.OB) Signs Raza.com to Its Online Check Service
MyECheck announced this afternoon that it has signed on Raza.com, a telecommunications company, as a new client and will be providing them with its comprehensive suite of electronic check processing services, allowing Raza.com to offer its customers the ability to use their checking accounts as an alternative form of online payment.
MyECheck’s unique patent-pending software is able to debit any U.S. checking account, including those that ACH cannot debit, enabling online merchants to expand their potential marketing base to more consumer and businesses. The process doesn’t require a physical check and adheres to the Check 21 specification.
Raza.com is a privately owned firm based in Chicago, IL. The company is managed by knowledgeable executives that have experience in processing payments, networking, information services, retail marketing, telecommunications and switch facilities. Their focus is on providing international calling cards that offer cheap rates. The phone card industry has grown into a $4 billion industry with approximately 500 million cards sold last year alone.
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Postby QualityStocks » Fri Jun 20, 2008 11:38 pm
MyECheck, Inc. (MYEC.OB) Launches Checkgateway on Its Check 21 (RCC) Software Platform
MyECheck Inc.(OTCBB: MYEC), a major provider of comprehensive alternative payment solutions and electronic payment processing via patent pending software solutions, today announced that Checkgateway, a leading provider of electronic payment services, is now using MyECheck’s patented software to process e-checks on behalf of its merchant clients.
Checkgateway, a participating electronic payments gateway partner, and its clients are now able to process Remotely Created Check (RCC) check transactions using MyECheck’s payment engine.
This RCC, applicable to Internet, phone, and batch payments, offers financial access to more consumers than any other payment method, and – in accordance with the Check Clearing for the 21st Century Act (HR 5414 - “Check 21?) specifications, provides the safest method for processing electronic payments from customers. In addition, transmission of MyECheck funds occurs in near real-time, making for more readily available funds.
Checkgateway is both a leader and innovator in the Automated Clearing House (ACH) industry, a nationwide electronic funds transfer (EFT) system that facilitates inter-bank clearing of credit and debit transactions. The company has been an ACH service bureau member since 1993, and is also an affiliate member of the NACHA (formerly the National Automated Clearing House Association), or The Electronic Payments Association, which is a not-for-profit organization that oversees the ACH by developing operating rules and business practices.
MyECheck, which offers both RCC and RDC (Remote Deposit Capture) transaction processing facilities, is finding that its Check 21 solution is experiencing rapid growth in the growing e-commerce and electronic payments industries. This RCC image service is now the world’s first Check 21 solution for remote transactions.
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Postby QualityStocks » Mon Jun 23, 2008 12:07 pm
MyECheck, Inc. (MYEC.OB) - Times Are Changing For Online Transactions
It was just a short time ago - in fact less than 8 years - when 95% of all purchases online were made with a credit card. As Internet commerce increased, so did the desire for alternative methods of payment, and such services as Paypal were created. But history and consumer surveys both show that the use of some form of check is still one of the most preferred methods of payment, and it’s been estimated in industry circles that, within a few short years, credit card transactions will be in the minority on the Internet. With that in mind, MyECheck (trading under the symbol MYEC) offers online merchants, call centers, billers, retail POS and RDC/back office applications an array of comprehensive Check 21 imaging, processing and related solutions.
So, just what is this “Check 21? that we hear so much about lately? Well, the “Check Clearing for the 21st Century Act” (commonly known as Check 21) was signed into law on October 28, 2003, and became effective on October 28, 2004. Check 21 is designed to foster innovation in the payments system and to enhance its efficiency by reducing some of the legal impediments to check truncation. The law facilitates check truncation by creating a new negotiable instrument called a substitute check, which permits banks to truncate original checks to process check information electronically, and to deliver substitute checks to banks that want to continue receiving paper checks. A substitute check is the legal equivalent of the original check and includes all the information contained on the original check.
A common question often asked is “isn’t that what Automated clearing house (ACH) transactions do?” and to some extent that would be true. But the ACH transactions fall far short of what MyECheck offers its customers. MyECheck works with more consumer accounts, clears sooner, and provides superior charge-back protection over ACH transactions. MyECheck can debit every US checking account, even accounts that ACH cannot debit. These include accounts at many credit unions, S&Ls, small banks, brokerage accounts, business accounts and credit card check accounts. In fact, MyECheck provides access to more customers than any other single payment method.
If it was simply the range of accessible checking accounts that made MYEC different, they’d be worthy of a good close look, but that’s just one facet of their offerings. With Financial Verification Services, prior to authorizing a transaction, MyECheck can verify the status of the customer’s bank account and determine if the customer is a recent check bouncer. Utilizing their Identity Validation Services, MyECheck offers 3 levels of identity verification, including a high-assurance ID validation. The system currently supports 21 currencies and will even perform low-cost foreign exchange when required.
That is a fine and well rounded complement of services to offer any business that needs payment processing. As online commerce continues to grow, MyECheck is growing right along with it, offering up real-world solutions to all types of retail and cyberspace merchants. Investors would do well to keep their eye on this company for further developments.
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Postby QualityStocks » Mon Jun 23, 2008 12:16 pm
MyECheck, Inc. (MYEC.OB) Signs Mentor Public Schools to Its Online Check Service
MyECheck, Inc. announced today that it has signed on Mentor Public Schools as a client and will be providing the Ohio School District with its comprehensive suite of electronic check processing services. The company’s eCheck solution will allow parents to debt their checking accounts for payments such as adding funds to their children’s lunch cards.
MyECheck’s unique, patent-pending software is able to debit any U.S. checking account, including those that ACH cannot debit, enabling online merchants to expand their potential marketing base to more consumers and businesses. The process doesn’t require a physical check and adheres to the Check 21 specifications established by law.
Commenting on the news, Ed Starrs, CEO of MyECheck, stated, “We are excited to have our first school district sign to our software and see this as a potential segue into other school districts, colleges and government agencies.”
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Postby QualityStocks » Wed Jun 25, 2008 8:41 pm
MyECheck Inc. (MYEC.OB) Awarded Patent for Online Check Processing Technology
MyECheck Inc. (OTCBB: MYEC) today announced the U.S. Patent & Trademark office has granted a patent for MyECheck’s online check processing technology, which provides merchants with the fastest, safest and most cost effective method for online, phone or remote payment transactions. The company’s founder and CEO Ed Starrs invented the technology, designating MyECheck as the sole licensee of the patented technology, creating a significant asset for the company and catapulting it ahead of competition.
“MyECheck now has the intellectual property rights to secure our system of eCheck software throughout the industry. We were not only first to market with an online Check 21 solution; we have now staved off competitors. As the most viable alternative payment method, our system provides merchants with access to more customers at a much lower cost than card processing,” Starrs stated in the press release.
The check processing technology was designed to create and clear image-authorized demand drafts known as remotely created check image files. The computer-implemented method processes payment for any item, whether it is a physical product, a service, digital media or digital content.
It is applicable to banks, savings and loan (S&L) institutions, credit unions and more, and is more universally available for merchants. The technology uses electronic images of authorized drafts, acceptable at every U.S. bank, even where current payment systems associated with the ACH network are not eligible.
“While many checking accounts are not accessible through the ACH network, MyECheck can clear funds from all checking accounts within the Federal Reserve banking system giving us the broadest reach of any electronic payment system. We are excited about this development and believe it will further our growth in the transaction processing industry, while positioning us as the leader in online and remote check processing,” Starrs stated.
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Postby QualityStocks » Tue Jul 01, 2008 7:34 am
MyECheck, Inc. (MYEC.OB) Makes Online Commerce Simple and Easy to Use
In today’s world, with new technological advancements popping up everywhere you look, one industry at the forefront of this advance is the alternative payment solutions segment of e-commerce.
One of the companies that leads in this arena is MyECheck, Inc. (OTCBB: MYEC), a company that was created to satisfy the demand for viable payment solutions to credit cards for online commerce. MyECheck utilizes a patent-pending method for creating and clearing remotely created checks (RCC’s) for exceedingly fast, secure and convenient payments.
MyECheck is different in that other “e-check” solutions are automated clearing house (ACH) transactions. MyECheck does not utilize the ACH network, so when compared with competitive ACH eCheck transactions, MyECheck items work with more consumer accounts, clear sooner, and provide superior charge-back protection. Items that are processed by MyECheck are done so in an entirely Check 21 environment. All items that are created by the company, including electronic RCC’s, are governed by Check 21 law and the varying state regulations regarding the Uniform Commercial Code. These laws are more favorable to the recipient, as opposed to the laws governing ACH transactions.
The reason why MyECheck items clear faster is because each transaction is created, file-formatted and submitted directly into the banking system for the fastest possible clearing in near real-time, providing the bank with expedited availability. This results in a reduced risk involving errors and fraud, the cash flow is improved greatly, and services are provided sooner with greater confidence. MyECheck can debit every U.S. checking account, even accounts that ACH cannot debit, such as credit unions, small banks, brokerage accounts, business accounts, and credit card check accounts.
There are additional services that make MyECheck stand out as the future leader in the alternative payment solutions and e-commerce industry. The company offers financial verification services that allow MyECheck to verify the status of a customer’s bank account and determine if the customer has recently bounced a check before completing the transaction. There are also guaranteed international payments, collections and guarantees (i.e., fully integrated collections at no additional charge), and identity validation services.
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Postby QualityStocks » Wed Jul 02, 2008 11:44 am
MyECheck Inc. (MYEC.OB) Strings Together Two Days of Monster Gains
July 1st, 2008
MyECheck Inc. is a financial electronic transaction processor and provider of alternative payment solutions for internet and mobile commerce. In the past two days the stock has risen 35.38% and 19.32% respectively. A $10,000 investment on Monday would have resulted in a return of $16,153.85 in just 48 hours.
The consumer services sector has actually lost over 2% as a whole in the same two-day period that MyECheck has shown the impressive gain of over 61%. Monday’s 35% gain took place on 89,882 shares while today’s 19% gain took place with 97,717 shares traded. In that short window of time, the recently volatile Dow Jones Industrial Average has gained only 38 points on below average trading volume.
One advantage to the services offered by MyECheck Inc. is that they are mutually beneficial to both the buyer and seller. Their services guarantee prompt payment on various transactions completed around the globe. The services offered can be used to facilitate fund transfers with well over 100 countries and are easily exchangeable with 21 different currencies. These services are helping small business owners increase cash flow and boost confidence in transactions. After the past two days on Wall Street, it is apparent that investor’s confidence has also been boosted in MyECheck.
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Postby QualityStocks » Tue Jul 08, 2008 9:32 am
MyECheck Inc. (MYEC.OB) Patent Awarded For Technology Used In Online Remotely Created Check Service
MyECheck Incorporated is a financial electronic transaction processor and provider of alternative payment solutions for Internet and mobile commerce. The company was recently issued a patent for their “METHOD AND APPARATUS FOR ONLINE CHECK PROCESSING” by the United States patent and trademark office. MyECheck calls this patented, electronic transaction processor Check 21, and it is used used by MyECheck for the creation and clearing of imaged, authorized demand drafts, also known as remotely created check image files.
The patent issued by the United States Patent & Trademark Office is patent number 7,389,913 and was issued on 06/24/2008. The patent will help MyECheck maintain their leading position in the market for online check cashing. Currently MyECheck’s services are used by vendors to expedite check clearing and availability, reduce risk, improve cash flow and provide greater confidence in successful transactions.
The CEO of MyECheck, Ed Starrs, commented, “MyECheck now has the intellectual property rights to secure our system of eCheck software throughout the industry. We were not only first to market with an online Check 21 solution; we have now staved off competitors. As the most viable alternative payment method, our system provides merchants with access to more customers at a much lower cost than card processing.”
Starrs went on to add that MyECheck now has the broadest reach of any electronic payment system currently on the market. He believes this patent will allow the company to focus on further development of their services and growth within the transaction processing industry. With the receipt of this patent, MyECheck is well positioned to become the leader in its field.
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Postby QualityStocks » Fri Jul 11, 2008 10:55 am
DoublingStocks.com Features MyECheck Inc. (MYEC.OB)
Michael Cohen from doublingstocks.com wrote last week that MyECheck was one of the strongest penny stocks. MyECheck Incorporated is a financial electronic transaction processor and provider of alternative payment solutions for Internet and mobile commerce. Cohen chose the stock because of the rapid growth MYEC has already experienced, and the potential for continued growth in both the near and distant future. The services offered by MyECheck are very tempting to businesses seeking immediate, secure payment from their customers.
Earlier this month, MyECheck was granted a patent from the United States Patent & Trademark office for their proprietary technology capable of accepting payments straight from a customer’s bank account. This eliminates a large portion of the risk associated with credit cards and past due payments. The system also decreases check clearing time and increases a business’s cash flow. The bank typically receives the digital check created by MyECheck within a matter of seconds electronically, instead of waiting for the physical check to come through the mail, a process which typically takes days.
Cohen compares MyECheck to Visa and Mastercard in the sense that they are at the top of the food chain in their respective industries. MYEC is capable of dealing directly with the Federal Reserve banking system via access to the “Fedline”, so they can interact with every US checking account. This gives the company a lot of power which is a positive for many small businesses where every successful transaction makes a difference. MyECheck is currently one of the leaders and has a lot of potential growth within the transaction processing industry.
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Postby QualityStocks » Tue Jul 15, 2008 12:52 pm
MyECheck Inc. (MYEC.OB) Online Check Services Implemented in Ohio School District
Earlier this morning, MyECheck Incorporated announced that its software had gone live at Mentor Public Schools, an Ohio School District. MyECheck is a financial electronic transaction processor and provider of alternative payment solutions for Internet and mobile commerce. The company’s patented Check 21 technology, used as an apparatus for online check processing, has been adopted by the school district for its reliability and ease of use.
The announcement of the school district signing an agreement with MyECheck was in the news last week, and already, within five days, the company has implemented its software and is now operating live. This was made possible because of the streamlined integration process that MyECheck has now built for its clients utilizing easy application programming interfaces (API’s). In addition to the ease of integration, clients benefit from expedited check clearing and availability, reduced risk, and improved cash flow in all transactions.
The CEO of MyECheck, Ed Starrs stated, “Our APIs have evolved with the changing needs of our clients to the point where we can have a customer ‘live’ within a week of bank interface approval. We will continue to streamline this process and work with both our internal team and outside VARs to ensure that we provide a cutting-edge technology in this growing industry.”
Mentor Public Schools is a School District in Mentor, Lake County, Ohio with 14 schools, including elementary, middle and high schools. The new services provided by MyECheck will allow parents to debit their checking accounts for payments such as loading their children’s lunch cards, allocating donations to the school, or paying for field trips and book fairs. MyECheck now gives parents the freedom of an alternate payment choice from the standard cash option which is the only method accepted by most public schools.
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Postby QualityStocks » Wed Jul 23, 2008 1:24 pm
MyECheck Inc. (MYEC.OB) Teams Up with Ranger Supply Store to Make Online Purchasing Easier
MyECheck Inc. (MYEC.OB) is pleased to announce that it has entered into an agreement with Ranger Supply Store to provide its suite of electronic check processing services to the online retailer. Customers will now be able to use their checking accounts as an additional method for online payments.
Based in El Dorado Hills, California, MyECheck provides electronic transaction processing and alternative payment solutions to online retail companies. The company’s patented software is able to debit any U.S. checking account, even those which ACH cannot debit. The software provides more customers and businesses with the ability to purchase merchandise from online merchants than any other existing payment method.
“Ranger Supply Store represents another in a long list of CardinalCommerce customers to realize the value in offering our online check solution,” stated Ed Starrs, CEO of MyECheck.
CardinalCommerce Corporation is a global leader in authenticating payments, securing transactions, and enabling alternative payments brands to eCommerce and mobile commerce. Cardinal Centinel® allows payment brands such as MyECheck, Verified by Visa, MasterCard® SecureCode™, PayPal™, eBillme™, Bill Me Later®, Google™ Checkout, NACHA® Secure Vault Payments (SVP), Ukash™, eLayaway™, and Ebates™ to over 30,000 merchants and merchant service providers.
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Postby QualityStocks » Fri Jul 25, 2008 4:24 pm
Xziex Water Purifier Company Now Processing Merchants through MyECheck, Inc. (MYEC.OB) Software
After the close today, MyECheck Inc. announced that Xziex Inc. has begun processing its merchants through its Check 21 Software. MyECheck’s patented solution provides merchants with financial access to more consumers than any other payment method
Xziex Inc. has developed and markets the XZIEX(TM) Atmospheric Water Generator. The generator produces pure, safe drinking water directly from the air. By using their technology, customers and businesses never have to haul bottled water or deal with the waste of plastic bottles.
MyECheck is known as the pioneer in marketing this type of service in the multi-trillion dollar paper check image processing industry, while operating as a leading online Check 21 processor. MyECheck is the preferred solution for clearing checks as it eliminates ACH (Automated Clearing House) issues by enabling merchants to deposit funds without the usual waiting period needed by other processors.
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Postby QualityStocks » Mon Jul 28, 2008 6:55 pm
Yellow Pages Company Signs on to Use MyECheck Inc. (MYEC.OB) Software
MyECheck Inc. (MYEC.OB) announced that it has entered into an agreement with Superior Business Network, the parent company of Yellow Pages, which retains the largest online directories for U.S. businesses.
MyECheck will provide its unique suite of electronic check processing services to the online directory and advertiser. Superior Business Network clients will be able to utilize their checking accounts as an additional option for online payments. The patented software designed by MyECheck has the ability to debit any U.S. checking account, which even ACH processing is unable to do. This added option for payments will allow more consumers and businesses to purchase services from Superior Business Network.
The MyECheck software has several other advantages over other online processing methods. MyECheck provides a more real-time posting, which results in faster clearing and funds availability for businesses. The more efficient system significantly reduces charge-backs, risk, and improves business cash flow. Processing through MyECheck is very similar to a credit card authorization, but is a guaranteed amount that eliminates fraud implications. MyECheck even has a lower operating cost than both credit and debit card processing.
With the Superior Business Network agreement under its belt, it looks like more national online businesses are recognizing the advantages of using MyECheck software for its online processing.
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Postby QualityStocks » Tue Jul 29, 2008 5:06 pm
MyECheck, Inc. (MYEC.OB) Signs Online Commerce Group, LLC With 25 eCommerce Stores
MyECheck Inc. announced today that it has inked an agreement with Online Commerce Group, LLC (OCG) to provide its comprehensive suite of electronic check processing services. The agreement will enable OCG customers to use their checking accounts as an additional form of online payment.
MyECheck’s patented software is unparalleled by any other solution as it is able to debit every U.S. checking account, even accounts that ACH cannot debit. This unique platform provides online merchants with financial access to more consumers and businesses than any other payment method available.
MyECheck’s payment engine uses patented technology to generate electronic checks (”remotely created checks” or “RCCs”) in accordance with the Check 21 specification. The company possesses sole rights to US Patent No. 7,389,913, “Method and Apparatus for Online Check Processing.”
Online Commerce Group, LLC is a diversified group of both residential and commercial niche e-commerce stores committed to delivering excellent customer experiences by providing their valued customers with a product presentation online that allows them to get as close to the product as possible. The websites also feature exclusive one-on-one customer service and competitive prices with multiple selections.
Tim can't short the progress this company is making..If Tim wants to keep shorting MYEC one day he will get caught slipping big time and a fool and his money shall soon part, you don't bet against a sleeping GIANT like MYEC, this stock could turn around like you could only imagine in a 3 to 4 day period with the right catalyst.
MyECheck’s Mobile Product Strategy
MyECheck’s strong competitive advantage as an electronic payment platform is its exclusive ability to enable transfers from any checking account. And the transactions are faster, safer and lower cost than ACH and card transactions. The benefits are substantial making the MyECheck platform clearly superior in many ways for mobile payments.
MyECheck provides three types of mobile payment solutions for different applications:
1) As a backend or wholesale processor to Mobile Payment Service Providers (MPSP)s. These include payment processors, e-wallets, stored value, and large merchant proprietary payment systems. The MPSP integrates with MyECheck in the traditional manner.
2) As a MPSP with a comprehensive solution for POS purchases on mobile devices.
3) As a licensor of customized mobile payment solutions.
MyECheck will be launching new products in the coming weeks and months including an end-to-end turn-key mobile payments solution that any business can easily implement remotely. The retail Point Of Sale system will include user apps for Apple and Android devices, and a download merchant POS app that runs on Quickbooks accounting software.
There are two mobile payment systems, one has higher security and has been developed for regulated industries. The other has been developed for retail sales, however the set-up and process flow is almost identical.
The Merchant only requires an internet connected computer with Quickbooks and a bank account, the User only requires an internet connected mobile device or tablet and a checking account.
The process flow for remote registration apps the regulated industries system:
Merchant downloads, installs and registers MyECheck Merchant App
User downloads and installs MyECheck User App
User selects Merchant in User App Merchant Menu
User enters Registration Data and submits to Merchant App
Merchant App validates Bank Data and Pre-Approves/Declines User Account
User presents ID at Merchant Location, Merchant compares to Registration Data
Merchant App displays QR code to User App containing User Account Token
At POS Merchant App displays QR code to User App containing Invoice
User App displays Transaction Detail and prompts authorization
User authorizes payment by sending Token to Merchant App
Merchant App verifies User Bank Account and Approves/Declines Transaction
Merchant App sends receipt to User App
MyECheck backs up transaction data at an independent data warehouse.
With this uniquely broad range of capabilities, MyECheck can serve almost any customer in any market either directly or through one of MyECheck’s licensees or MPSP partners. This model also enables growth through leveraging partners’ existing customer base and sales and marketing resources.
Does it get any realer?
Mr. Starrs has 16 years experience developing anti-fraud technology related to network transactions and has previously worked with the US National Security Agency under a Co-Operative Research and Development Agreement and Patent License Agreement to develop and commercialize network security related technology. Steve Blandford, MyECheck CTO, also has very extensive security and anti fraud technical expertise, and has experience with Mr. Starrs on security and fraud prevention technologies for over 10 years including leading development on the NSA project and others.
Government Payments (G-Pay)
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.
The G-Pay application provides easily implemented security and payment capabilities for government entities to process authorized funds transfers to and from any government owned checking account.
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 automated reporting.
Mr. Starrs has 16 years experience developing anti-fraud technology related to network transactions and has previously worked with the US National Security Agency under a Co-Operative Research and Development Agreement and Patent License Agreement to develop and commercialize network security related technology. Steve Blandford, MyECheck CTO, also has very extensive security and anti fraud technical expertise, and has experience with Mr. Starrs on security and fraud prevention technologies for over 10 years including leading development on the NSA project and others.
About MyECheck
MyECheck Inc. is a leading payment data processor and technology developer & licensor that provides a new electronic payment method used as a preferred alterative to cash, paper checks, credit & debit cards, and ACH "e-check" payments. MyECheck's patented payment method is the fastest, most secure and most cost effective payment method in the US and is poised to be a significant payment platform. As the leader in Check 21 solutions and check image processing for online and mobile transactions, MyECheck provides merchants with the easiest, fastest, safest, and lowest cost way to collect money electronically from the most customers. MyECheck customers include corporations, retailers, governments, payment processors and financial institutions.
Please visit http://myecheck.com
Solutions for government-Local to Federal
MyEcheck G-Pay Payment Solution enables payments from government to governments, businesses and individuals. G-Pay service is the only fully electronic payment service that is capable of processing fully electronic transfers from government owned bank accounts.The G-Pay application provides easily implemented secure payment capabilities to and from any government owned checking account.The system has been developed to assist government entities in transitioning from paper to real-time fully electronic payments. G-Pay works with existing check payment issuance and tracking systems and improves secure system access, transaction authorization verification and customizable automated reporting.
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.
About MyEcheck, Inc.
MyEcheck is the only fully electronic check services provider that enables authorized real-time electronic payments from all US checking accounts. The Company’s goal is to capitalize on opportunities created by the federal Check Clearing Act for the 21st Century (“Check 21”) law that became law on October 28, 2004.
The legislation facilitated check truncation by creating a new negotiable instrument called a “substitute check.” This change created a demand for alternatives to debit/credit card and ACH payment solutions.
MyEcheck conceived of and received a patent for a method that allows it to create and clear fully electronic checks. We provide software that enables merchants and banks to receive and process real-time payments from consumers, businesses, and government agencies.
Our patented process cuts costs, reduces fraud, and replaces the labor-intensive process of sorting, transporting, presenting, and reconciling paper checks with a faster and less error-prone process.
Payments can be initiated online, via point-of-sale terminals, or over the telephone. Our services include electronic check creation, real-time check authorization, payment fraud scrubs, payment guarantee, check clearing, and complete online reporting.
MyEcheck was founded and incorporated in the State of Delaware in October 2004.
How MyEcheck Works
When a merchant uploads a CSV transaction batch file to our server, we convert the data into a Check 21 compliant image file (or ICL—Image Cash Letter). We send the substitute check image file directly to your bank for deposit into the merchant’s account.
This method allows you to process the payment like a traditional check. Alternatively, we can create a substitute check and route the payment through your Fedline account. Payments clear in the same priority as paper checks.
Why Choose MyEcheck
Simpler and cheaper alternative to ACH clearing process.
Attract new low-cost merchant accounts
Increased volume of purely electronic check payments.
Tens of thousands of low-cost electronic transactions per month.
Payments made through your bank are usually cleared within 24 hours.
Returns are minimal, but are processed just like other checks.
When required, returns usually occur within 24 hours.
Applicable Regulations
Since MyEcheck processes but does not conduct transactions, and does not directly hold or transfer cash, we are not subject to direct federal, state or local regulation. We are also not subject to regulation or laws that apply to accessing or conducting Internet commerce. We are only subject to regulations applicable to general business conduct. However, there are no assurances that MyEcheck will not be subject to financial regulations in the future.
The truth about Shorting Stocks.
http://www.stopshortingstocks.com/
Robert Innes Dec 18, 2008. Updated from time to time.
The Problem
Do you know why pensions are melting and jobs are disappearing? We entrusted our financial system to banks, regulators and central banks but they (and our political masters) began to manipulate the system to benefit themselves. Our own financial advisors (let's call them our shepherds) lulled us to sleep singing "buy and hold", "markets create wealth", "don't worry about the short term", and other soothers while they convert our money savings into stocks, bonds commodities, futures, ABCPs and other financial instruments which they load into pools, plans and funds. This assignment of our capital is supposed to benefit both us and the market but instead of sitting quietly, hoping to grow, our instruments are inspected by shadowy marauders who look for something juicy to "sell short", a favourite game that profits from distress.
In the shorting game, shorters, (I like to call them Jackals) who can be hedge funds, brokers or individuals, borrow or rent our shares (or other instruments, especially those that have done well) from managers of our funds, accounts and plans, and then actually sell them to new suckers. Short selling is the reverse of buying a stock or 'going long'. I had heard the term but did not appreciate what it really meant. Now two suckers own the same shares !!! Isn't that DUPLICATION? (8) Duplication, undermines the value of our shares (Jackals profit from the fall. "FRAUD" - we whimper!!! Look and you will find some fine print you should have read about the borrowing, but why did we not understand what was going on? Did you ever notice anything missing in your account? Did you get a call or a notice? Gee, they don't think to tell us do they. There are even worser jackals, illegal jackals, called naked shorters (1) who don't even bother renting your shares (whew!?) but freed thus of any cost, happily create pure counterfeit shares with abandon, further undermining our shares with unlimited illegal supply of new shares. Maybe your broker bought some for your account. It is a self fulfilling strategy. And what difference does it really make if the shares were borrowed or not, - either way, there are new owners in the marketplace that came in to buy those duplicates or counterfeits or whatever you call them, either way, our assets are undermined. (10) If, like me, you have difficulty getting your mind around all this, please reread or discuss with a friend - you must understand these unbelievable basics.
The process continues, the number of duplicates increases, enough new suckers to saturate the market (10), rumours are spread - by jackals, many falsely, until the shares crash. But real businesses wobble, unable to keep credit lifelines open against a low share/ commodity price, shareholders panic and sell back to jackals waiting to close on their evil profits. Too often, the business collapses, people lose their jobs, all in the name of "oh, well it was bound to happen eventually" (11) But workers got paychecks until that "eventually". Why the rush to destroy? Silly us for thinking the market was an engine of creativity and growth - jackals sing that song to get our plaything assets.
Say it ain't so
Shorters wail their siren song of benefits for the markets, media minions are impressed. Yes they cry, we must have shorters, they weed out the unfit, the bad apples, they deflate bubbles. Broker balladeers, that commissioned band, sing lusty tales of swashbuckling shorters, bravely ignoring infinite risk (shares could go up forever) to grapple valiantly with mighty pump and dumpsters while struggling, dear sheeple, to provide liquidity so you can sell your shares back to them - at a nice low price. Jackal-shorts thank you. Did they mention their "short and distort" fearmongering (Illegal, as if that matters! Google the term for more info) or "Bear Raids"(3) or manipulation (14) or "death spiral financing" (16) or or "Short and Sue" (19)? Delicious! The hype and overstatement of those benefits and the cynical blaming everything on naked shorting, blinds us to how ALL shorting undermines the market, the economy and real employers. (4) The few true crooks they attack, usually small time hucksters, are not worth the millions of jobs lost in the process, for they know not when to stop. Any weakness, like that caused by this genuine market crisis, when even the best wobble, (4) is cause enough to jump on the bandwagon, smothering life, hope, and worsening, not lessening the storm we are in.(13) Volatility(11), the jackals' friend, is increased. It is moral hazard to reward jackals for this - the population of jackals increases in response. Should I fight them ... .or join them?
What about the government referee, the Securities Commission... the SECsnakes that slithered out of the bankster bushes (20)(21), to run the joint? Does the duplication or destructive volatility bother them? Where are they when the jackals run rampant? While The SECsnakes piously crow about the illegality of naked shorting (1,14) , we are left with three ugly choices: either they can't stop it or they wont stop it or we accept the proposition that it makes no difference if shorts are naked or legal. Snakes revel in mayhem, not caring that sheeples' savings are the base of our economic pyramid. As Cramer says, (5) they rig the game for their friends - its not a level playing field (8): Uptick rule(12), the old game controller, is gone. No trading limits on shares as there are for companies (5). Turning a blind eye is much easier than the dreary business of doing what governments ought to do - discover and punish wrongdoing, setting limits. (6) Recent rule changes (14) are a joke. Salting the wound, ask yourself how both sets of shareowners can vote at the AGM as does happen (ie. more shares than the float shows up)? (17) No serial number? No problem, you can still vote, just fill in the form. Few are interested so all can be accommodated. Services exist to ensure this. You must conclude that the game is now rigged. Our broker shepherds are co-opted. We cannot win. Flee the markets.
II
How did we come to this?
For a long long time the market operated to create wealth and prosperity. Sensible rules were in place, advice and overheads of paper certificates imposed stiff transaction costs and kept markets relatively slow and boring but easily spawning new factories and jobs. Slowly, ties to paper were lost, the investing world dematerialized, our shares reduced to mere blips, perfect cover for jackals. Safeguards were lost22): merchant banksters marry investment whores so our advisers are compromised to say the least. Despite the meltdown, precautionary rules have still not been reinstated!!! Duh! New technology brought new horizons: cheap trades, instant blips, ETFs, short ETFs, double up/down ETFs, structured investments and much more. Hedge funds, now comprising about 1/4 of the entire market, are the ultimate expression of this lunacy - all long positions are balanced by short positions (hence the term hedge). Bottom line, shorting is so easy. Anyone can do it from the kitchen table. Jackals in training. Fun and games with our blips.
The cause of our distress at present is in the changed nature of the bubble and its more devastating aftermath. Without shorts, stocks might indeed rise high above fair value. It only takes a few excited buyers on the margins to drive prices up. Imprudent people become the final suckers, sensible people recoil at the price. This bubble may be high but it halts of its own accord (at least without Greenspan around). Late buyers have to wait a long time to recover value, but if the company survives, even this is possible. This Darwinian lesson is beneficial.
With shorters in the picture, Jackals recognize overpricing sooner and the game begins. The price suppression effect means this bubble does not grow so high, but it grows very F A T as even sensible people buy the more reasonably priced duplicates. Shorters like fat bubbles (7), the fatter the better. The price suppression may be called "consolidation" and is said to be an ideal buying point, something you might recognize. More people pile in - buyers getting used up. Huge Hedge funds can really blow bubbles up FFAATT. They hardly bother with mere companies, they operate at blowing up whole sectors like the North American auto industry, or even entire nations (currencies). The phantom float can grow by 50% or even 95% (17,9)! Did you realize the market cap listed in those nice (free) information pages does not reflect these trillions of phony shares? Short data is slow to reach the market, is hard to find, is unreliable and therefore not incorporated in our calculations. They really don't want us to know, especially the Toronto exchange. The downslope is devastating as all those extra 50% plus the original 100% head for the exit (14). Buyers got used up, none left. No wonder shorted stocks fall to the sub-sub-sub-basement, much more devastating than a gradual unwinding of a simple overbought stock. More wealth is transferred from the investing public / wealth creators to destructive jackals than with simple bubbles (price lost x [all shares floated PLUS QUANTITY SHORTED]). The extreme volatility /decline affects the company's financing in a vicious cycle. Many companies cannot recover - The process is too fast to allow businesses to reformulate themselves. The lost jobs are real even if the shares were not. This lesson is simply destructive - no Darwinian benefit
unless it is to drive all ordinary folk and pension funds from the market.
Consequences
Even worse, the destructive volatility (12) erases smaller, weaker players which in turn concentrates activities in fewer hands (jackals lovingly call it "industry consolidation" - think commissions) which in turn concentrates control. The rich get richer and more powerful as the increasing numbers of poor have less and less leverage. Unfortunately, concentrated control, instead of leading to stability, eventual leads to instability as we have seen both recently in the financial meltdown, and before in the breakdown of Communism. We should take our cue from the natural world which favours the existence of more, not fewer, species (businesses).
The fix
This deplorable situation is easily salvaged. Simply abolish shorting (especially in bear markets and during this time of decline relative to other nations). Jackals should not be free to attack savings of individual sheeple (as is the case in some markets). Ruination only makes for enslavement, not productivity. Fortunately, a safe parallel system already exists - our sophisticated options marketplace that has merely to be expanded to provide options for all stocks. Thus, skeptics, cynics and even addicted jackals can play to their hearts content in a "fenced in" area without disturbing the underlying shares or companies involved. Markets, freed of the machinations of shorters, will become more boring but ultimately more productive of true wealth. Despite anticipated howls of protest, price will be discovered anyway - just more slowly.
Of course, taking away rape and pillage profits is sure to outrage the present crop of Jackals. Expect protest that this cannot work. Hold firm if you value your future and that of our children. Make no mistake, the stakes are the continued wellbeing of America and other democracies, all dependent on the creativity of capitalism/ markets to best provide for our future. Please note that while this article has only described the action of shorters in the stock market, all financial markets are similarly affected (futures, commodities, precious metals, even sub-prime mortgages).(7) (18) There no hiding from these jackals
Be warned that any legal shorting creates a vicious paradox. Imagine wanting our drinking water laced with e-coli in order to kill off the unfit among us. Legal shorting virtually guarantees the existence of illegal (naked) shorting, and all the attendant manipulation (14), destructive volatility, etc. Naked short selling destroys companies (3) which in turn destroys the resources required to investigate illegalities. Ergo, end shorting completely*.
*Note: A few forms of forward selling such as hedging by farmers and miners pose no problem to the market provided all players are treated honestly.
In the meantime, investors can try to protect themselves by regaining control, favouring (honest) brokers over mutual funds and then designating their accounts as "non-margin" (cash /segregated account) which will hopefully discourage the borrowing of your shares. (Disclaimer - obtain the advice of a professional.) The other protection, obtaining a physical certificate, is terminated in the US as of Jan 2009. (15) Talk about the chickens being outfoxed. Its about time the chickens-sheeple got mad.
Can someone post the message from Bill please
Yea but trips I don't think so, watch and learn next week
Yea and I hope Santa brings me a Bentley Coupe for Christmas
April 29, 2010-MyECheck struggles following bank closure
http://www.bizjournals.com/sacramento/stories/2010/08/30/story9.html?page=all
This is the only reason we have this opportunity to buy MYEC at these low prices, newbies please read:
The El Dorado Hills company pioneering the use of digital checks in electronic payments is hanging on despite dipping below the radar since the surprise closure of its primary bank in January.
MyECheck Inc. generates electronic checks from a remote location and transfers them for processing to banks. Its clients include merchant payment providers — companies that offer payment transaction options to retailers and online businesses.
Unlike other electronic check-processing companies, MyECheck doesn’t clear checks through the credit card payment system or the Automated Clearing House network. Instead, it clears checks directly through banks or the Federal Reserve.
That became a problem in January when state regulators closed the bank that handled most of MyECheck’s merchant business.
“We were blazing a trail where no service had existed before. We have a patented process,” said Ed Starrs, president and founder. “Had our bank not been shut down, we would have had a great year.”
First Regional Bank of Los Angeles was closed by the California Department of Financial Institutions and handed over to the Federal Deposit Insurance Corp. on Jan. 29. The bank reopened the following Monday as branches of First Citizens Bank and Trust Co. of Raleigh, N.C.
Following a closure, an acquiring bank is not required to maintain existing contracts. First Citizens had its own merchant processing operation, and didn’t need MyECheck’s services, Starrs said.
First Citizens cannot discuss customer relationships, said Barbara Thompson, head of corporate communications.
“It was unexpected. We had just gone cash-flow positive, and we went from that to basically having no revenue at all,” Starrs said.
In a filing late this month with the Securities and Exchange Commission, the company reported revenue of $62,358 for the first six months of the year. That’s down from six-month revenue of $388,825 in 2009.
The net loss for the first half was $1 million, compared to a six-month loss of $535,392 last year.
With a working capital deficit of $850,309 and a stockholders deficit of $837,445 on June 30, the financial statement includes a warning about the company’s ability to continue as a going concern without raising more capital.
Starrs said he has had multiple offers of funding as well as offers to buy the company. But they are based on the current value, which is depressed, he said.
“I wasn’t going to sell it for the current valuation. If people put in capital at a time like this, they want to take control,” he said.
Instead, the company, which had 14 employees two years ago, has pared down to essentials. It no longer has office space or its own servers. It operates out of a co-location data center.
“We just keep cutting expenses. No one is getting paid right now,” he said.
While MyECheck’s revenue has been nearly dormant, it has been signing up clients, Starrs said. And when it fires up again next month, it will have at least four major banking relationships, he said.
“We are stronger because of it,” Starrs added. “We had most of our eggs in one basket, and that was a mistake. We learned from that.”
No what you own for get about day to day PPS those that go long will win BIG watch and learn!
Long on MYEC forever!
Small Business Solutions
Low flat fee per transaction, no interchange fees, just download, set-up and accept bank account transfers from any US checking account.
Merchant Point of Sale System for Mobile Payments
MyEcheck’s 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 and 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.
Solutions for government-Local to Federal
MyEcheck G-Pay Payment Solution enables payments from government to governments, businesses and individuals. G-Pay service is the only fully electronic payment service that is capable of processing fully electronic transfers from government owned bank accounts.The G-Pay application provides easily implemented secure payment capabilities to and from any government owned checking account.The system has been developed to assist government entities in transitioning from paper to real-time fully electronic payments. G-Pay works with existing check payment issuance and tracking systems and improves secure system access, transaction authorization verification and customizable automated reporting.
Career Opportunities
We strive to hire the best talent in business operations, sales, marketing, and other disciplines. Job openings are posted and managed by our HR services. Current openings are listed on this page for quick review and access to the postings. You may also submit your resume to our Operations department to be added to our database for future review.
Thank you for considering MyEcheck.
Current Openings
Sales Account Executive
MyEcheck provides sales professionals with technology that allows them to work from anywhere. Competitive sales professionals will benefit from a competitive salary and earning potential for over achievement of sales quota. In addition, MyEcheck offers great health benefits and performs innovative workplace practices. We have a relentless focus on technology, along with our efforts to provide value and outstanding customer experience, are all in service of our core belief; that connecting should be simple, rewarding and even fun.
Role:
Is interested in building upon their successful track record in sales
Is achievement driven; enjoys competitiveness and thrives on being the best and winning
Has a “can do” attitude with a strong positive focus on sales; loves to be challenged
Is experience with solutions based selling and approach to solving customers problems
Has an outgoing, dynamic personality and can build outstanding relationships
Wants to lead the charge to grow the business and create sales opportunities that increase MyEcheck’s position and share within the market
If your passion lies with helping a business rise to the challenges of change, complexity and competition by empowering people, this is a great job for you. Our sales account executives are responsible for strategically identifying, prospecting and growing business accounts through solutions-based selling and account management.
Please send resume to: sales@myecheck.com
Electronic Check Web Service
Internet merchants and other companies wishing to accept payments online or over a telephone (“Merchants”) can directly integrate with MyEcheck’s payment engine. Payer check data is collected by the Merchant either at the Merchant’s website or over the telephone, and is transmitted in real-time to MyEcheck for processing.
MyEcheck uses patented technology to generate electronic checks in accordance with the Federal Reserve Check 21 specification. Electronic checks are formatted and are transmitted in near real-time to banks, or directly to the Federal Reserve for clearing on behalf of MyEcheck’s customers.
Electronic checks are not subject to many of the shortcomings of Automated Clearing House (“ACH”) based e-check systems and cost-effectively provide higher transaction success rates, faster funds clearing and fewer returned items.
Compared to other online payment methods, MyEcheck’s Electronic Check Web Services works with more payers, is more secure with less fraud, and is lower cost with flat fee pricing.
Check Authorization Service
MyEcheck offers Check Authorization Service, which enables merchants to verify consumer provided data, check the status of the customer’s bank account, provide evidence that the consumer has authorized the check and predict the likelihood of a check being returned unpaid. Businesses that accept payments online through MyEcheck utilize this service to provide greater assurance that the check will clear. Transactions can be approved or declined based upon the results of the Check Authorization Service.
Check Guarantee Service
MyEcheck co-markets with Check Guarantee Providers to offer Check Guarantee Service. The Check Guarantee Provider warranties all approved checks and reimburses the Payee for financial losses incurred as a result of returned checks. The Check Guarantee Provider buys the returned checks that have been warranted from merchants for the full face value of the returned checks. MyEcheck merchants utilize Check Guarantee Service so that they can ship products or provide services immediately without having to wait for the check to clear. The Check Guarantee Service also eliminates the need for Merchants to collect on returned items from their customers. The Check Guarantee Providers are independent third parties whose services are offered to Merchants separately from the MyEcheck service. MyEcheck is not compensated by, and does not compensate, Check Guarantee Providers. MyEcheck may in the future enter into compensated arrangements with Check Guarantee Providers.