Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Should do well tomorrow, and keep above .95 for the week. Tomorrow it should hit 1.10
Credit card defaults reach record
05.18.09
By Sarah Beldo
Some of the largest credit card issuers in the country say more people are defaulting on their payments, according to new figures.
Reuters reports that the level of credit card defaults in the U.S. reached record highs last month, as more families struggled with unemployment and other effects of the recession.
Citigroup reported charge-offs increased during the month from 9.66 percent to 10.21 percent, while Wells Fargo also said its charge-off rate climbed into the double-digits to 10.03 percent.
American Express, JP Morgan Chase and Discover also reported a rise in defaults during April, according to the article.
These latest figures serve to highlight the problems that so many consumers are having with managing credit card debt, as financial pressures grow more acute.
Some consumer advocates say that issuers are making Americans' debt problems even worse by hiking interest rates and fees for customers who are already struggling to make payments.
At last week's town hall meeting in Rio Rancho, New Mexico, President Obama spoke in favor of credit card reform. He also urged people to be responsible with their spending behavior and avoid amassing excessive credit card debt.
"Americans know that they have a responsibility to live within their means and pay what they owe," he said during a recent radio address. "But they also have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all too common."
Recently, Moody's Investors Service predicted that credit card charge-offs could grow to an unprecedented 12 percent over the next year, largely due to the troubled job market.
MyECheck Inc. Announces First Quarter 2009 Results
Electronic Transaction Processor Increases Revenues with New Clients
MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce its First Quarter 2009 financial results for the period of January 1, 2009 to March 31, 2009.
The Company processed over $27.5 million for the three months ending March 31, 2009 compared to $7 million for the same period in 2008; an increase of over 394%.
Revenues recorded for the first quarter were $163,751 compared to $58,913 for the same period in 2008.
The Net Loss from Operations in Q1 2009 was $114,074 compared to $264,365 for 2008, a substantial drop as the Company refines its business model and works towards building more value.
Many online merchants offer no alternative to credit, resulting in lost sales due to many consumers' inability or unwillingness to purchase using credit. MyECheck's solution is fast becoming popular amongst etailers, government organizations and brick & mortar operators.
Ed Starrs, CEO of MyECheck, commented, "In this time of credit card decline rates being at their highest, it is important for etailers to remember that the check is still the largest non-cash payment method in the United States."
MyECheck works with more consumers than any other payment method and will lower costs, abandonment, charge-backs and fraud while increasing sales, loyalty and profits for its customers. And we offer our services at a fraction of the cost of credit-card processors, do not charge any recurring or account maintenance fees nor do we require any deposits or rolling reserves.
I'm getting killed here too. Not very happy...
MyECheck Electronic Transaction Processing News – Q2 2009
In this time of credit cards decline rates being at their highest, it is important for etailers to remember that the check is still the largest non-cash payment method in the United States.
This week we learned that Advanta Corp., the credit-card issuer for small businesses, may leave one million customers scrounging to find new lenders and debt holders facing losses of 35 percent after the company shut down accounts to preserve capital.
Oppenheimer and Co. predicts issuers will reduce credit card lines by $2.1 trillion in the next 18 months wiping out 45% of spending power US consumers now have on credit cards.
What does this mean to you?
Many online merchants offer no alternative to credit, resulting in lost sales due to many consumers' inability or unwillingness to purchase using credit.
Here’s our solution:
MyECheck works with more consumers than any other payment method and will lower costs, abandonment, charge-backs and fraud while increasing sales, loyalty and profits for its customers. And we offer our services at a fraction of the cost of credit-card processors, do not charge any recurring or account maintenance fees nor do we require any deposits or rolling reserves. Please call us at (916) 939-3241 or sales@myecheck.com for a demo today.
Of note to our shareholders, we were pleased to announce our Year End 2008 financial results recording an increase of revenues of over 1000% compared to the previous year. And we processed over $90 million for the twelve months ending December 31, 2008 while continuing a growth of about of 41% every quarter.
The company is working hard for both its customers and stakeholders in this time of uncertainty in the markets. We know times are tough, and we are here with a solution to save you money.
Edward Starrs – CEO, MyECheck Inc.
Cornel was interested in doing something until the cost of getting things audited and cleaned up, plus the problem of getting at least 50% of the shareholders to agree to a roll back didn't make sense once OTCBB shells became cheap last fall.
Once again, you can get a clean shell for $200k. If you want a shell where you control 100% of the shares, you are looking at $300k off the shelf. Or, you can spend about $100k and wait six months, but then you have 144 stock only.
it's going to head up again soon. I am re-loading for the next run.
MYEC is now on twitter - http://twitter.com/MyECheck
More Credit Cards being taken out of the market means more potential for MYEC - especially B2B with regard to Advanta Corp., the issuer of credit cards for small businesses, halting new lending for its 1 million customers next month.
Oppenheimer and Co. predicts issuers will reduce credit card lines by $2.1 trillion in the next 18 months wiping out 45% of spending power US consumers now have on credit cards. And credit card volume share from online purchases is predicted to fall nearly 50% by 2013 according to Javelin strategy and research.
Dude - You can buy a clean shell for $200k right now. No one IPO's at an OTCBB level.
How can I know the debt? Look at the old filings.
BTW - an IPO on an OTCBB takes six months.
This is what I do for a living.
This sums things up well for those waiting on the sidelines. You might consider this and pick up shares while you can.
Ed Starrs, CEO, commented, "MyECheck sales efforts have been focused on larger accounts involving longer sales cycles. The company reports it has multiple major accounts in its sales pipeline and intends to continue building its assets and customer base at a steady pace."
OTCBB's are cheap now - $200k to $300k for clean 100% ownership.
CYOS has 500 million o/s and debts over $3 million - doesn't make sense as a shell unless market picks up, and OTCBB'c return to pre-financial crisis prices of $800k.'
That's the reality.
MyECheck Partners With Ascent Processing to Provide Check 21 Electronic Payment Processing
EL DORADO HILLS, CA--(Marketwire - May 5, 2009) - MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce that it has signed Ascent Processing Inc. as an Authorized Agent providing additional revenue opportunities for MyECheck's patented Check 21 electronic payment processing software in the property management and rental industries.
Ascent Processing, Inc. offers payment processing to merchants nationwide and have worked with many industries in addition to Travel and Entertainment. Ascent is a registered Visa/MasterCard Member Service Provider for both Elavon/Nova Information Systems through USBank, and First Data through JP Morgan Chase. Some of their clients include http://www.rental-network.com/, http://www.realtimerental.com and http://www.escapia.com/
The check is still the largest non-cash payment method in the US, proving that people often prefer to use checks over credit cards. Many online merchants offer no alternative to credit, resulting in lost sales due to many consumers' inability or unwillingness to purchase using credit.
MyECheck works with more consumers than any other payment method and will lower costs, abandonment, charge-backs and fraud while increasing sales, loyalty and profits for its customers.
Ed Starrs, CEO of MyECheck, said, "RCCs have been used for decades by mortgage companies, insurance companies, credit card companies and many others to collect recurring payments from their customers. Trillions of dollars are processed as checks annually. MyECheck allows these companies to fully automate, eliminate paper from their process, and speed collection by at least 2 days."
About MyECheck
MyECheck Inc. is a leading electronic transaction processor and provider of alternative payment solutions to credit cards for brick & mortar, internet, and mobile commerce. MyECheck utilizes a patented method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and cost effective payments. MyECheck provides merchants with financial access to more customers than any other payment method.
Please visit www.myecheck.com
MYEC keeps on signing clients...good to see.
STWG is going nowhere. Too many shares out there to too many insiders.
someone whacking the bid again. Must be some paper out there still.
Seeing some decent volume here today - guess we'll start to see this thing trade higher if this continues.
Like this from the PR - Ed Starrs, CEO, commented, "MyECheck sales efforts have been focused on larger accounts involving longer sales cycles. The company reports it has multiple major accounts in its sales pipeline and intends to continue building its assets and customer base at a steady pace."
Something is up...late buying moving the price up and heavy volume.
Me thinks it's time to buy.
What's going on with UOMO? Pretty slow...might be a good time to re-visit this one.
It's had some good runs.
Nice close this week.
looks like a short - this should bounce very nicely.
Great price increase - just saw .45 taken down!
MyECheck Enters Agreement With Morse Data Corporation
The Premier Enterprise Management System in America to Provide MyECheck Services to Its Clients
EL DORADO HILLS, CA--(Marketwire - April 14, 2009) - MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce that it has entered into a definitive agreement with Morse Data Corporation whereby Morse Data is to develop MyECheck interface capability for InOrder.
InOrder is a leading enterprise management system for multi-channel merchants, fulfillment service providers and publishers. Easily deployed as an off-the-shelf system, InOrder accommodates all sales channels, including web, phone, fax, EDI, POS and catalog sales in real time for immediate and accurate inventory and order processing.
Once the interface is complete, which is expected within a few weeks, InOrder clients can quickly and easily add MyECheck payment services without the need for technical integration with MyECheck.
Credit cards are the most popular means to pay for online goods and services, but alternative online payments will account for 26% of e-commerce volume by 2009. 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. This shift will have significant implications for banks, merchants, and service providers supporting card-not-present risk for online merchants.
Ed Starrs, MyECheck CEO, commented, "We believe the relationship with Morse Data is a large opportunity for our company as we have already seen strong interest from InOrder clients. We are looking forward to providing Morse Data clients with our leading patented electronic check processing solution, and adding many valuable customers to our growing portfolio."
About Morse Data
Morse Data Corporation was founded by Jim Morse in 1975. Morse Data is an innovative leader in the development of enterprise management systems for national and international businesses in the multi-client fulfillment, publishing, direct marketing, multi-channel merchant, and internet retailing industries. Cost effective and modular, InOrder is the scalable, end-to-end solution that serves as one central system to manage everything from eCommerce, customer response, campaign & list management, order, inventory & warehouse management, to accounting and reporting.
We got news and volume
Gold price starts to recover as market euphoria evaporates
After a few days of decline following the G20, the gold price has started to pick up again as safe haven investors look to probable gloomy general stock market figures ahead.
Author: Carole Vaporean
Posted: Wednesday , 08 Apr 2009
NEW YORK (Reuters) -
Gold prices rebounded on Tuesday as investors sought shelter from what is expected to be another gloomy season of corporate earnings, analysts said.
Gold also got a lift from a forecast from metals consultancy GFMS for prices to climb above $1,100 an ounce this year amid financial uncertainty around the globe.
Spot gold climbed to $880.90/882.50 a troy ounce by 4:50 p.m. EDT, against $868.80 late Monday in New York. Gold fell as low as $864.30 on Monday, its lowest point since January 23.
In New York, gold for June delivery closed $10.50, or 1.20 percent, higher at $883.30 an ounce on the COMEX division of the New York Mercantile Exchange.
Analysts said GFMS's positive price projections gave a healthy lift to gold, which had headed lower in early trading.
The annual report said fears about rising inflation, potential dollar weakness, and fears over financial instability all supported gold.
Gold prices are still down about 12 percent from an 11-month high above $1,000 hit in February. But analysts said a dose of reality on the overall vulnerability of the global economy could well see it topping the $1,000 mark again.
Expectations for another lousy corporate earnings period drew safe-haven investors back into the dollar as well as gold.
"Gold's performance today is impressive, even more so given that the dollar has strengthened," said Citi analyst David Thurtell.
"Perhaps people who are keen on the whole gold story as a safe haven are thinking it hasn't been this cheap in a long time."
The dollar advanced as a decline in global equity markets drew investors seeking a haven ahead of what is expected to be a weak season for corporate results.
Falling bullion prices prompted India to buy some gold early in the global session, raising hopes the world's largest consumer could be looking for more during the wedding season, dealers said.
Though some traders said gold may have been oversold, the metal remains vulnerable for now to any signs of investors shifting money into other assets.
"Although investor sentiment remains positive toward the metal, ETF flows have slowed and prices have been hit with profit-taking," Barclays Capital said in a note.
"The surge in investment demand had offset the slowdown in jewelry consumption but now prices remain dependent upon either further investment demand inflows or resumption in physical fabrication demand."
Elray Resources Provides Overview and Update of Cambodian Property
Gold Price May Top Record on 21% Investor-Demand Rise
LAS VEGAS, NEVADA--(April 8, 2009 ) - Elray Resources, Inc. (OTCBB: ELRA), a technically-driven gold and precious metal mineral exploration company, is pleased to provide shareholders with an update into its gold exploration properties.
The portfolio includes three properties totaling over 15,000 hectares in Cambodia, one of the last frontiers for precious/base metal discovery and development. Mining has exploded in mineral-rich Cambodia, and was only recently opened up to exploration using modern techniques.
The Company's portfolio includes multiple areas with history of small scale mining. Grab samples on these properties have ranged up to 71.9grams/tonne gold. The Company holds 100% of the license for these properties.
Investment demand for gold will rise to an all-time high of 52.3 million ounces this year, New York-based commodity researcher CPM said today in its annual outlook report. That compares with 43.3 million ounces in 2008. Demand for gold to make jewelry will drop 7.1 percent to 56.5 million ounces as consumer spending weakens, the group said.
Gold prices have gained for eight straight years as a declining dollar and instability in financial markets boosted the metal’s appeal as an alternative asset. The price touched a record $1,033.90 on March 17, 2008.
“Continued volatile and weak financial and economic conditions are expected to be supportive of strong investment demand this year,” CPM said today in a summary of some parts of the outlook report. “Gold prices are expected to surpass last year’s record.”
About Elray Resources, Inc.
Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of highly prospective, heavily mineralized mining tenements in South East Asia. Elray Resources, Inc.'s, primary objective is to source projects, conduct geological assessments and seek Joint Venture partners to develop the properties.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with gold & precious mineral exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect the Company's financial results is included in its filings with the Securities and Exchange Commission.
Elray Resources, Inc.
Jake Harris
Investor Relations
(347) 410-9782
Email: ir@ElrayMining.com
Website: www.ElrayMining.com
460,000 traded .022 - .025
yippeee
Xcellink uses technology to put the control of transactions where it belongs...
......securely in the hands of the customer, not the merchant.
A patented payment process with multiple applications ranging from retail transactions to road tolling, utilities billing and beyond, Xcellink represents a giant leap forward in the way we do business.
Xcellink has the capability to be used in every transaction, big or small, as a low cost alternative to cash, potentially replacing all credit, debit, charge and smart cards, integrating warehousing, delivery, taxation and consumer protection.
Xcellink holds patents for key elements of what is expected to become the primary global process for managing the provision of goods, services and payments in the consumer-driven world.
Elray Resources Inc. Provides Shareholder Update
Gold and Precious Metals Prices Excepted to Remain Strong For Years
LAS VEGAS, NEVADA- - (Marketwire - Apr. 6, 2009) Elray Resources, Inc. (OTCBB:ELRA), a technically-driven gold and precious metal mineral exploration company, is pleased to provide shareholders with an update into Company operations.
The Company is a multi-region multi-property exploration and production mining company, focused on responsible exploitation of mineral resources and maximizing shareholder value. Management continues to actively seek out new highly prospective properties across the globe to add to its portfolio of highly mineralized properties in South East Asia.
The Company has so far assembled a portfolio of heavily mineralized and highly prospective target properties in strategic locations in South East Asia. The portfolio includes three properties totaling over 15,000 hectares in Cambodia, one of the last frontiers for precious/base metal discovery and development.
The Company also has acquired an interest in a highly promising zircon sands mining project in Central Kalimantan, Indonesia.
J.P. Morgan analyst Steve Shepherd has joined the growing consensus that expects gold prices to remain strong for years to come. In a note to clients, he wrote that gold's safe haven status has once again come to the fore because of the global financial crisis. That has strengthened investor appetite for gold and spurred on a big round of ETF buying. ETFs now own about 40 million ounces of gold, he noted, worth about US$36-billion at current prices.
"We expect increased investment demand to make up for any losses from traditional jewellery markets in India, China and the Middle East to underpin gold prices," he wrote.
About Elray Resources, Inc.
Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of highly prospective, heavily mineralized mining tenements in South East Asia. Elray Resources, Inc.'s, primary objective is to source projects, conduct geological assessments and seek Joint Venture partners to develop the properties.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with gold & precious mineral exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect the Company's financial results is included in its filings with the Securities and Exchange Commission.
Elray Resources, Inc.
Jake Harris
Investor Relations
(347) 410-9782
Email: ir@ElrayMining.com
Website: www.ElrayMining.com
Closing on a HOD with late volume means only one thing...Monday open she will rock!
Closed on the HOD.
GLTA
late day rallies...don't ya just love them???
We are going into the crapper...where is the IR????
Last chance at these prices IMO
Time to load up
I'm still waiting :)
thegoodlifeGeo
Why don't you email the company? info@oceaneclipse.com used to handle their IR.
There is no news and no merger.