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Analyst upgrade for MYEC
MyECheck, Inc (OTCBB: MYEC $2.34)
Research Note
Industry: Banks, Financial Services & Insurance
Rating: Speculative Buy
Price Target: $3.25
By: Richard W. West, CFA
MyECheck Announces Preliminary Numbers for October; Revenue and Transaction Growth with Positive Cash Flow; Upgrading Rating to Speculative Buy
MyECheck (OTCBB: MYEC) announced on November 7, 2008, unaudited selected results for the month of October 2008. In consideration of the strong revenue and transaction growth reported for the third quarter and nine months, and now the stronger growth in October with positive cash flow, and our belief of continuing growth in revenue, we are upgrading our rating to a Speculative Buy with an initial price target of $3.25 per share.
http://www.duttonassociates.com/research/MYEC/index.html
Major month to month growth
Q3 shows a 41% growth over Q2 - that's huge people!
More Companies signing up???
From 10Q filing -
"There are trends in sales that would have a material affect on MyECheck. In recent months there has been a marked increase in the number of applications for MyECheck's services. Management expects this trend to continue throughout 2008, however there can be no assurances that the current trend will continue. "
10Q looks awesome!
The Company Recorded revenues of $156,174 for the Third Quarter as compared to $110,805 for the Second Quarter; an increase of 41% on a quarter-to-quarter comparison basis.
Revenues recorded for nine months ending September 30 2008 were $325,892 compared to $4,771 for the same period in 2007.
This is really off color, so please don't watch it if you are sensitive. It's called "The Day After Obama Wins" and actually from Dave Chappelle season 1. For those who don't know, Dave C. is African - American.
Checks continue to be the number one non-cash payment
Checks continue to be the number one non-cash payment method in the U.S. with the value of checks processed annually over 40 trillion dollars. Up to 50% of adults either have no credit card or have no available credit on their cards, meaning that as many as 80 million U.S. adults have no ability to buy online at the many websites that only accept credit cards. MyECheck provides customized solutions to fit the needs of any business.
From the website www.myecheckcorporate.com
Transaction Growth
E-commerce in the U.S., excluding travel, totaled $174.5 billion in 2007, up about 21% from the year before, according to Forrester Research. The market tracking firm expects nearly a 17% jump in 2008, to $204 billion.
So the rate of growth is slowing. But Forrester still expects online retailers to add more than $30 billion a year in sales in each of the next five years. By 2012, Forrester expects non travel-related online sales to equal 11% of total spending, from 6% in 2007.
"The reality is, there's a channel shift, and consumers are in fact spending dollars online that had previously been spent in stores," Forrester analyst Sucharita Mulpuru wrote in a market report.
and more
The following are some of the top tax sweeteners in the Senate passed Bailout Bill. Not all the provisions are per se outrageous, but collectively are intended to help Congressional leadership get final passage of the 2008 Emergency Economic Stabilization Act.
1. Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children
Current law places an excise tax of 39 cents on the first sale by the manufacturer, producer, or importer of any shaft of a type used to produce certain types of arrows. This proposal would exempt from the excise tax any shaft consisting of all natural wood with no laminations or artificial means to enhance the spine of the shaft used in the manufacture of an arrow that measures 5/16 of an inch or less and is unsuited for use with a bow with a peak draw weight of 30 pounds or more. The proposal is effective for shafts first sold after the date of enactment. The estimated cost of the proposal is $2 million over ten years, according to the Joint Committee on Taxation.
The Oregon senators were the initial sponsors of the provisions. According to Bloomberg News, the provision would be worth $200,000 to Rose City Archery in Myrtle Point, Oregon.
2. Sec. 317. Seven-year cost recovery period for motorsports racing track facility
Track owners want to be able write-off the cost of their facilities on their taxes over seven years - a depreciation timetable many of them have used for decades. But the IRS has wanted to stretch it to at least 15 years and has raised questions whether the increasingly popular tracks really belong in the same tax category as amusement parks.
Auto track owners are simply trying to get out of paying more taxes - which they'd have to do if they deducted less every year. These owners have gotten plenty of tax breaks over the years from states and localities eager to get speedways. The provision would be extended 2 years till the end of 2009 and would cost $100 million. The provision encompasses all facilities including grandstands, parking lots and concession stands.
3. Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands
Extends until December 31, 2009 a rebate against excise taxes charged on rum imported from Puerto Rico and the Virgin Islands. A $13.50 per proof gallon excise tax is applied to distilled spirits imported to the U.S. Under this provision a $13.25 rebate is returned to PR and the VI, and is retroactive back to January 1, 2008. Permanent law sets the rebate at $10.50 per proof gallon, but the PR and VI provisions have generally been in place since the first Clinton Administration. The most recent extension of the $13.50 rebate expired January 1, 2008. Cost is $192 million.
4. Sec. 301. Extension and modification of research credit
The legislation reestablishes and extends the lucrative tax credit for companies doing research and experimentation in the United States. Companies that have benefited from this provision include Microsoft Corp., Boeing Co., United Technologies Corp., Electronic Data Systems Corp. and Harley-Davidson. The two-year extension is estimated to cost $19 billion.
5. Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation
The bailout bill would give a tax break to Exxon Valdez plaintiffs, allowing them to average out their punitive damages awards over three years rather than suffer a one-time tax hit from the Internal Revenue Service, as well as other provisions. Rep. Don Young (R-AK) is a big supporter of this provision. Cost is estimated at $49 million.
6. Sec. 601. Secure rural schools and community self-determination program.
Secure Rural Schools lead sponsors Reps. DeFazio (D-OR), Bill Sali (R-ID); Sens. Wyden (D-OR), Larry Craig (R-ID), are major boosters of this program that expired in 2006. In 1908 the federal government agreed to share logging revenue from Forest Service land with neighboring communities that could not tax the land because it was federal. As logging declined in the 1990s, the "county payments" program was initiated in 2000 to directly provide federal funding, more than half going to Oregon, to deal with the loss of revenue. The original version of this provision was introduced as a bill in early 2007 and was estimated to cost $2.2 billion when the OR and ID delegations came to agreement. To give the package more heft, Payment In Lieu of Taxes (PILT) was added to the package, bringing the total cost to $3.3 billion. PILT provides more general funding to counties for federal lands located within their borders. Sen. Reid (D-NV) talked about the PILT program being one of the important elements of the package when the Senate passed the bailout bill.
7. Sec. 201. Deduction for state and local sales taxes
Allows residents of states that don’t pay income tax to deduct, from their federal taxes, sales tax paid over the course of the year. States that benefit include Texas, Nevada, Florida, Washington and Wyoming. The bailout bill extends this provision for 2 years at a cost of $3.3 billion.
8. Sec 502. Provisions related to film and television productions
In an effort to keep film and television productions in the U.S, they would be eligible for a tax incentive program. Under this program, the cost of production of qualifying films would be permitted to be immediately expensed -- that is, fully deducted from income for tax purposes -- in the year the expenditures occur. This provision also makes permanent other favorable tax treatments for production. Historically Rep. Diane Watson (D-CA) has been a supporter (dating from its creation in the 2004 corporate tax bill). The cost is estimated at $478 million over 10 years.
9. Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds
The tariff relief (duty savings) is intended to benefit U.S. worsted wool fabric producers that use imported fibers and yarns as inputs, as well as U.S. tailored clothing manufacturers that use imported fabrics as inputs. This provision was originally introduced as a bill in December 2007 by Reps. Louise Slaughter (D-NY) and Melissa Bean (D-IL). It extends current law provisions until 12/31/14, and in some cases to12/31/15. The 2010 to 2015 cost is estimated to be $148 million.
10. Sec. 309. Extension of economic development credit for American Samoa
This extends by two years a previously approved tax credit, the American Samoa economic development credit. In general, this credit allows certain corporations operating in American Samoa a tax credit. The possessions tax credit allows these corporations to offset a portion of their U.S. tax liability on income earned in American Samoa from active business operations, sales of assets used in a business, or certain investments in American Samoa. The cost is $33 million, according to the Joint Committee on Taxation.
Other Examples:
Here are some other interesting provisions
Sec. 201. Inclusion of cellulosic biofuel in bonus depreciation for biomass ethanol plant property
Current law allows taxpayers to write-off 50% of the cost of any facility placed in service before January 1, 2013 that produces cellulosic ethanol. This provision expands the types of facilities that may be written-off to include production of other cellulosic biofuels in addition to cellulosic ethanol.
Sec. 211. Transportation fringe benefit to bicycle commuters
Allows employers to provide a benefit to employees for costs associated with bicycle commuting, including purchase and repair of a bicycle, bicycle improvements, and bicycle storage. This provision was proposed in 2007 in the Senate by Sen. Ron Wyden (D-OR) and in the House by Rep. Earl Blumenauer (D-OR). This provision is estimated to cost $10 million.
Sec. 323. Enhanced charitable deductions for contributions of food inventory
Extends by two years, until December 31, 2009, a provision allowing for deductions related to the charitable donation of “apparently wholesome food”—defined as food intended for human consumption that meets all quality and labeling standards imposed by law and regulations even though the food may not be readily marketable. This provision also changes the application of the law as it relates to donations by farmers and ranchers. The cost is $149 million, according to Joint Committee on Taxation.
Sec. 324. Extension of enhanced charitable deduction for contributions of bookinventory
Extends by two years, until December 31, 2009, a tax benefit for the contribution of books to public schools. The provision is worth $49 million.
Sec. 602. Transfer to abandoned mine reclamation fund
Transfers interest earned on money in the abandoned mine reclamation fund to the United Mine Workers of America Combined Benefit Fund, which helps pay health benefits for retired miners and their dependents who worked under collective bargaining agreements that promised lifetime health-care benefits. States with the most miners receiving benefits have historically been Pennsylvania, West Virginia, Kentucky, Virginia, and Ohio. This provision extends existing law to include a $9 million transfer for 2010.
Oh there was lotsa pork...
The Senate bill, loaded with lard, passed unchanged in the House by a vote of 263 to 171.
If the bill was 'bad,' how can pork make it better? Perhaps it wasn't that the bill actually contained elements members of Congress objected to, not really; maybe some of them were engaging in a holding action--holding out to ensure that their own pig got in the bill. Could it be that the nation's rescue, not to put too fine a point on it, was held hostage for pork?
Here is what the nation got for its trouble: A bill that allows plaintiffs in the 1989 Exxon Valdez oil spill to average out their punitive-damage awards, easing their tax liabilities; gives tax breaks to movie and television-production companies and makes it easier for employers to provide benefits to employees to offset the costs of bicycle commutes. It provides an exemption for excise tax for certain wooden arrows designed for use by children; it allows for a seven-year cost recovery period for motor sports racing track facilities; extends a rebate against excise taxes charged on rum imported for Puerto Rico and the Virgin Islands; it reestablishes and extends the lucrative tax credit for companies doing research and experimentation in the United States, companies such as Microsoft, Boeing, United Technologies, EDS, and Harley-Davidson (the two-year extension is estimated to cost $19 billion).
Further, the bill allows residents of states that don't pay income tax to deduct, from their federal taxes, sales tax paid over the course of the year (Texas, Nevada, Florida, Washington and Wyoming benefit--at a cost, to the rest of us, estimated at $3.3 billion). The bill provides tariff relief to worsted wool fabric producers in the U.S. that use imported fibers and yarns as well as U.S. tailored clothing manufacturers that use imported fabrics in their clothing. This provision may not seem a big deal but it is estimated to cost $148 million.
The American Samoa economic development credit is extended by this bill; it allows certain corporations operating in American Samoa a tax credit, to offset a portion of their U.S. tax liability on income earned there from active business operations, sales of assets used in a business or certain investments. The cost is $3 million, give or take.
The bill extends a tax benefit for the contribution of books to public schools, at an estimated cost of $49 million and it secures for rural schools and community self-determination programs federal funding and also provides payments in lieu of taxes. The total estimated cost: $3.3 billion.
The sum total added to the $700 billion could reach well into the billions, in direct dollars and in tax offsets. For the bill and a complete listing of pork sweeteners and extenders, visit Taxpayers for Common Sense at http://www.taxpayer.net/resources.php?category=&type=Project&proj_id=1429&action=Headlines%20By%20TCS%3Cbr%20/%3E
Great movie quote from Syriana...(truncated)
"...Twenty years ago you had the highest Gross National Product in the world, now you're tied with Albania. Your second largest export is secondhand goods, closely followed by dates which you're losing five cents a pound on... You know what the business community thinks of you? They think that a hundred years ago you were living in tents out here in the desert chopping each other's heads off and that's where you'll be in another hundred years..."
go for it
Holy volume batman!
what pump and dump? I haven't seen any promotion out there?
Awesome day
Great volume and excellent close
New corporate website and information http://www.myecheckcorporate.com/
Gold Continues to Rise as Elray Bolsters Board of Directors
Las Vegas, NV – September 22, 2008 – Gold continued to go from strength to strength as gold and mineral exploration company Elray Resources, Inc. (OTCBB: ELRA) announced Mr. Barry Lucas has been appointed Chairman of the Company’s board.
Gold is currently trading in the $850 to $900/oz range, up from the $700- $720 range a year ago, but many analysts believe that prices could continue their upward trend. According to London-based researcher GFMS Ltd., gold may rise to $950 an ounce by the end of year. Gold had its largest ever one day price advance last week.
In appointing Mr. Barry Lucas as Chairman of the Board, Elray continues to build a top caliber team ready to maximize value for its shareholders in the current bull market.
Mr. Lucas is an Australian national with over 25 years of experience in the mining industry. He has extensive experience in South East Asia and has served on the Board of Directors for several mining companies. In addition, Mr. Lucas was one of the founders of Angkor Wat Minerals Ltd., in Cambodia, which Elray Resources, Inc. acquired 100% control of in August 2008. Grab samples from these properties have returned values of up to 71.9 grams/tonne of gold, and the company intends to aggressively pursue these targets in the coming months.
In the last ten years, Mr. Lucas has been actively involved in sourcing new mineral deposits throughout Asia for a number of companies. He has considerable experience working with the government of Cambodia and the Ministry of Industry, Mines and Energy (MIME). He brings to Elray Resources a distinguished track record in exploration, feasibility studies, mining geology and corporate management.
About Elray Resources, Inc.
Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of four highly prospective, heavily mineralized mining tenements in Cambodia and Mexico. Elray Resources, primary objective is to source potential and viable projects, conduct geological assessments and seek Joint Venture partners to develop the properties. Elray Resources 100% controlled entity in Cambodia is Angkor Wat Minerals Ltd.
For more information please visit www.ElrayMining.com
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.
Investor Relations:
Jake Harris
Phone: (347) 410 9782
Email: ir@ElrayMining.com
Elray Resources Builds Portfolio With Heavily Mineralized Properties in SE Asia, N. America
Company Builds Solid Foundation With Heavily Mineralized Mining Properties in Cambodia and Mexico as Gold Bull Market Continues
LAS VEGAS, NV--(Marketwire - September 19, 2008) - Elray Resources, Inc. (OTCBB: ELRA), a technically-driven gold and precious mineral exploration company, is pleased to provide shareholders with the following update on its recent activities.
The company has successfully assembled a portfolio of heavily mineralized and highly prospective target properties in strategic locations in South East Asia and North America. 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. Cambodia has emerged as a stable and pro-business country in the region, with annual GDP growth expected to be 7.5% in 2008, according to the Asian Development Bank.
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.
In addition the Company has also acquired an option on a highly prospective property in Mexico, one of the most prolific gold and silver producing countries in the world. The Company's Analhi Project is situated in Sinaloa State.
With these properties in its portfolio, the Company believes it has built solid foundations on which to move onto its next phase: adding to its top caliber team, finalizing the details of its aggressive work program for the coming months, and assessing further mining and exploration opportunities in South East Asia and elsewhere.
"Given the strong bull market we have seen in gold recently, we are very pleased with the potential of these properties," commented Mr. Michael Malbourne, Director of Elray Resources. "We believe the recent upward trend in the price of gold will continue as investors seek safe haven."
For more information please visit www.ElrayMining.com
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.
Investor Relations:
Jake Harris
Phone: (347) 410 9782
New Contact Information
Phone 1-866-264-7670
Fax 775-201-0253
admin@s2cglobal.com
The S2C System
In an attempt to address the growing market for bottled water and to capitalize on the low labor costs of vending, S2C has developed a proprietary product delivery system. S2C designs, develops and distributes mechanical systems, including vending systems that automate the distribution from suppliers to consumers of bulk food products. Bulk food products include items sold in larger quantities up to 5 gallons (18 litres) and/or 47 pounds (22.3 Kg). Any product that is capable of being packaged in a cylindrical container, typically liquid or granular in nature can be delivered via the S2C System. Water is the first consumer product the Company is promoting it will be supplied to the Aquaducts through existing packagers/distributors of 5-gallon water.
The S2C Aquaduct is a modular vending unit capable of accepting empty 5-gallon recyclable plastic jugs and distributing full 5-gallon recyclable plastic jugs.
The Aquaduct is intended to act as a replacement to in store retail distribution systems. Most grocery store chains in North American sell 5-gallon bottled water. The Aquaduct is intended to be a replacement system for those systems currently in place.
Current systems employed by producers, distributors and retailers of 5-gallon bottled water are labor intensive. Staff unload/load 5-gallon bottled water from the production line to warehousing, from warehousing to trucks, from trucks to transfer stations, from transfer stations to smaller trucks from these trucks to the home, offices and retailers. The retailers then unload the trucks to storage from storage to the store floor, from the store floor to customer's cars. The returned empty bottles go through a reverse cycle of that previously described. Bottles are moved using a combination of fork lift operators, laborers and drivers. The S2C System eliminates all of the labor involved except for the truck driver; the number of drivers is reduced overall because of just in time inventory management, the Aquaducts storage capabilities and better logistics. The labor is not needed with the S2C System because machines move the bottles through the Aquaduct racking system, into the trucks and eventually into the Aquaducts.
The S2C System is a three part system comprised of: (1) an in plant system that takes the prepackaged goods from the line into an integrated storage/loading system; (2) an integrated truck storage/loading system; and (3) a retail vending unit. The vending unit sits in an accessible parking lot where an individual can drive up in their car, stop in front of the unit, retrieve their empty 5-gallon water jug if they have one, touch the ATM/POS Screen, select the transaction they want i.e. return or no return, swipe their bank card, enter their pin, place the return bottle in the return door, retrieve the full bottle, put it in the car and drive away. The truck system has a drop down over and under conveyor that hooks up at the plant or Aquaduct loading door on one end and to the continuous loop racking system in the truck. Full bottles push empty bottles either out of the Aquaduct or out of the truck. The Plant system runs from the production line through the continuous loop racking system all the way to the loading doors using a system of conveyors.
S2C owns the technology for the S2C System and intends to generate revenue by selling the consumer product to the end user and licensing its technologies.
S2C obtained the rights to the original patent application with the United States Patent Office for its proprietary S2C System and will continue to secure additional patents, copyrights and trademarks as they are made available.
New CEO = new deals
Alejandro Bautista as the new Chief Executive Officer effective September 14, 2008. Alejandro Bautista has sat on the Board of Directors since February 2005. Mr. Bautista as a long term member of the Texas Business community is expected to bring the additional experience necessary to facilitate the transition into the USA and more specifically Texas and the establishment of S2C as a household name in the USA.
Mr. Bautista has a degree in Business Administration from Instituto Technologico Y De Estudios Superiores De Monterrey, with over 25 years of senior management experience in plant operations, international market development, import, export, sales, marketing and public relations. Mr. Bautista is the executive director and is fundamental in the growth of Grupo Industrias Petrus S.A. Mr. Bautista was a founding investor in the private company S2C Global Systems and has been instrumental in organizing a potential relationship with a mass production facility in Monterey, Mexico.
Form 8-K - change of address
Good move to get out of BC.
Item 8.01 Other Events
The Company has relocated its corporate offices to the USA to San Antonio, Texas. The new address is 5119 Beckwith, Suite 105, San Antonio, TX 78249, telephone 210-561-6015.
Volume starting here - saw some trades go through being hit at the ask.
If the Republicans win the presidency who here honestly thinks that Palin will be nothing more than a female Dan Quayle?
I just don't see the 'good old boys' letting her sit at the dining table.
JMHO
haha. But's under construction... :)
awesome looking website...LOL
Great volume today and news after the bell.
Elray Resources Builds Portfolio with Heavily Mineralized Properties in SE Asia, N. America.
Company builds solid foundation with heavily mineralized mining properties in Cambodia and Mexico as gold bull market continues.
Las Vegas, NV – September 19, 2008 – Elray Resources, Inc. (OTCBB: ELRA), a technically-driven gold and precious mineral exploration company, is pleased to provide shareholders with the following update on its recent activities.
The company has successfully assembled a portfolio of heavily mineralized and highly prospective target properties in strategic locations in South East Asia and North America. 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. Cambodia has emerged as a stable and pro-business country in the region, with annual GDP growth expected to be 7.5% in 2008, according to the Asian Development Bank.
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.
In addition the Company has also acquired an option on a highly prospective property in Mexico, one of the most prolific gold and silver producing countries in the world. The Company’s Analhi Project is situated in Sinaloa State.
With these properties in its portfolio, the Company believes it has built solid foundations on which to move onto its next phase: adding to its top caliber team, finalizing the details of its aggressive work program for the coming months, and assessing further mining and exploration opportunities in South East Asia and elsewhere.
”Given the strong bull market we have seen in gold recently, we are very pleased with the potential of these properties,“ commented Mr. Michael Malbourne, Director of Elray Resources. ”We believe the recent upward trend in the price of gold will continue as investors seek safe haven.“
For more information please visit www.ElrayMining.com
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.
Investor Relations:
Jake Harris
Phone: (347) 410 9782
Email: ir@ElrayMining.com
you know...you think they would prefer young hotties with some experience over virgins...
MyECheck Inc. Announces Over 100% Growth in Revenues in First Two Months of Second Quarter 2008
Electronic Transaction Processor Also Posts April to May Revenue Growth at Over 60%
SACRAMENTO, CA--(Marketwire - June 9, 2008) - MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce, that in the first two months of the second quarter of 2008, unaudited revenues have exceeded the first quarter of 2008 by over 100%.
Furthermore, the company's unaudited revenues have increased by over 60% for the period May 2008 compared to April 2008.
The company noted that while there has been an economic downturn of late, the numbers would seem to point to a turn-around when it comes to online retailing. According to a recent report by eMarketer, "although consumers are reacting to the economic downturn by spending less, this will create more of a hardship for retail stores than for online retail outlets."
eMarketer estimates that US retail e-commerce sales (excluding travel) will reach $146 billion in 2008, up 14.3% over 2007.
And, according to Barrington Research, the 16-Stock group of electronic-transaction processors recorded its second consecutive month of positive price performance with a mean return of 4.47%. Twelve of the 16 stocks registered positive returns for the month, ranging from 2.8% for Western Union to 18.9% for Cardtronics. Besides Cardtronics, leading price performers for the month included Heartland Payments at 17.9%, Global Cash at 15.7% and Fidelity National 11.7%. The mean group return of 4.47% in May was greater than both the S&P 500 Index and the Dow Jones Industrial Average at 1% and minus-1.4%, respectively.
Ed Starrs, CEO of MyECheck, commented, "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."
The company notes that the numbers contained in this release are unaudited, and are made in good faith and based on all the financial information available to the company today.
MyECheck also wishes to caution readers that any forward looking statements are just beliefs or predictions, and that actual results might differ materially from those projected in any or all of the forward-looking statements. Further, past financial business, operations and stock performance are not necessarily indicative of the company's future performance.
About MyECheck
MyECheck Inc. is a leading electronic transaction processor and provider of alternative payment solutions to credit cards for brick & mortar, internet, intranet and mobile commerce. MyECheck utilizes a proprietary method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and convenient payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck's patent pending RCC solution provides merchants with financial access to more consumers than any other single payment method.
Please visit www.myecheck.com
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of mentioned products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in reports filed with the Securities and Exchange Commission.
www.myecheckcorporate.com
Great volume past few days!
"deflationary risks"
What a laugh...the problem is inflation and a weak dollar!
VIRGLE April Fool's Day
MyECheck Partners With AE Checking to Provide Its Online Check Service
2008-03-11 09:30 ET - News Release
SACRAMENTO, CA -- (MARKET WIRE) -- 03/11/08
MyECheck Inc. (OTCBB: MYEC), a leading provider of comprehensive viable alternative payment solutions, announced that it has signed AE Checking Inc. as a gateway partner and is providing the online processor with its comprehensive suite of electronic check processing services.
AE Checking's merchant clients may now process Remotely Created Check transactions through the MyECheck payment engine. MyECheck uses patent pending technology to generate electronic checks in accordance with the Check Clearing for the 21st Century Act (HR 5414 - "Check 21") specifications. These eChecks are transmitted in near real-time to MyECheck's partner banks, or directly to the check clearing system for faster clearing.
AE Checking began successfully processing through the MyECheck system in September 2007. AE Checking's volume has ramped up as they continue to convert their ACH business to the Remotely Created Check Service. AE Checking also plans to expand its business by adding new customers as a result of offering the Remotely Created Check Service.
AE Checking will serve as a gateway to the MyECheck solution for all sub-prime merchants. MyECheck's Check 21 solution bypasses the ACH system, and the solution substantially reduces charge-backs and risk and improves cash-flow; all at a much lower cost than credit or debit cards.
Ed Starrs, CEO of MyECheck, stated, "We are very excited to have AE Checking as a partner, and look forward to working with their merchants to accept this new form of ecommerce payment. Merchants who engage in all forms of commerce including web, telephone and point of sale can now utilize a single platform, MyECheck, for all their check processing, and benefit from faster collection of funds."
About AE Checking
AE Checking has responded to the needs of their clients by creating the most innovative and merchant friendly eCheck (ACH) and Check21 (RCC) platform in the industry. Their platform includes merchant controlled payment schedule processing, flexible redeposit scheduling to provide higher collection rates and a customer service interface developed with and for their merchant specifications. As they continue to grow, their goal is to provide their merchants the most advanced technology along with the highest level of customer service in the industry.
MyECheck Launches Online Check Processing on Dazadi.com
2008-03-12 09:30 ET - News Release
SACRAMENTO, CA -- (MARKET WIRE) -- 03/12/08
MyECheck Inc. (OTCBB: MYEC), a leading provider of comprehensive viable alternative payment solutions, announced that it has launched online check 21 processing solutions with its partner, CardinalCommerce on Dazadi.com.
Dazadi.com, a privately owned online recreational retail site that sells items for play and relaxation, is based out of Los Angeles, California. Dazadi.com was started by four brothers setting out to achieve a simple goal: enjoyable, easy and convenient online shopping with less hassle and more options. Since starting in 2002, Dazadi.com is continuously searching for new ways to reach more customers with their trademark customer service and offering of products to enjoy life.
As previously announced, CardinalCommerce customers may now accept MyECheck as a form of online payment with MyECheck providing faster clearing and funds availability, substantially reducing charge-backs and risk and improving cashflow; all at a much lower cost than credit or debit cards. MyECheck can debit every US checking account, even accounts that ACH cannot debit, and thus provides online merchants financial access to more consumers and businesses than any other payment method.
Ed Starrs, CEO of MyECheck, commented, "We are very excited to have further forged our partnership with CardinalCommerce with the addition of this well-known internet retailer. We have refined our integration process over the past months, and continue to expect to have a very quick turn-around time for CardinalCommerce's customers who have expressed interest in implementing our cost-saving solutions."
yikes...oh well
MyECheck Inc. Commences Trading Under Symbol "MYEC"
Monday March 10, 1:02 pm ET
MyECheck Provides Viable Alternative Payment Solution to Credit Cards and Is Leader in Check 21 Solutions
SACRAMENTO, CA--(MARKET WIRE)--Mar 10, 2008 -- MyECheck Inc., (OTC BB:MYEC.OB - News), a leading provider of comprehensive viable alternative payment solutions announced that it has commenced trading on the NASD Over-the-Counter Exchange under the symbol MYEC.
MyECheck was created to satisfy a demand for an alternative payment solution to credit cards for online commerce. The check is still the largest non-cash payment method in the United States, demonstrating that people often prefer to use checks over credit cards.
MyECheck has developed and implemented a patent pending process that enables consumers and businesses to purchase online using checks. Although the ACH network is being used to debit some consumer accounts for online transactions, ACH-based e-check schemes suffer from many shortcomings that are overcome by the MyECheck solution, making MyECheck the most viable alternative to credit transactions.
Online merchants prefer the MyECheck solution because, unlike ACH, it works with every US checking account, and funds clear much faster than ACH, among many other benefits. MyECheck offers a fully comprehensive integrated solution that includes consumer identity validation, funds availability verification, check image creation and clearing and full online reporting with ease of integration.
As the leader in check image processing for online merchants, MyECheck's patent pending RCC solution provides merchants with financial access to more consumers than any other single payment method. MyECheck offers the fastest, safest and most convenient way to process electronic payments from customers.
Ed Starrs, CEO of MyECheck, commented, "The check is still the largest non-cash payment method in the US, demonstrating that people often prefer to use checks over credit cards. In spite of this, many online merchants offer no alternative to credit, resulting in lost sales due to many consumers' inability or unwillingness to purchase using credit. MyECheck provides industry leading turn-key imaging solutions enabling merchants, corporations and banks to remit Check 21 items directly for immediate clearing. MyECheck eliminates paper, reduces costs, speeds clearing and improves floats."
About MyECheck
MyECheck Inc. is a leading provider of comprehensive viable alternative payment solutions to credit cards for brick & mortar, internet, intranet and mobile commerce. MyECheck utilizes a proprietary method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and convenient payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck's patent pending RCC solution provides merchants with financial access to more consumers than any other single payment method. MyECheck offers the fastest, safest and most convenient way to process electronic payments from customers.
Please visit www.myecheck.com
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of mentioned products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in periodic reports filed with the Securities and Exchange Commission.
Contact:
Corporate Relations / Media Phone:
Brent O'Connor
(916) 932-0089
New data from the Pew Internet and American Life project shows that’s increasingly important to mobile phone owners. Fifty-eight percent of Americans have used a mobile phone for a purpose other than a phone call, such as surfing the Web, checking email or sending a text message. Furthermore, Pew found that 21% of people who use the Internet go online from someplace other than their home or office at least a couple of times a week.
Arctic Oil & Gas Business Model Designed to Duplicate Success of Prudhoe Bay, North Sea, and Gulf of Mexico
2008-03-07 10:18 ET - News Release
LAS VEGAS, NV -- (MARKET WIRE) -- 03/07/08
Arctic Oil & Gas, Corp. (PINKSHEETS: AOAG), a petroleum exploration company, along with the consortium that it initiated to develop the "Arctic Commons" prospect, will follow the highly successful working models used to develop the largest oil and gas discoveries of the last forty years. Arctic expects to develop and manage the prospect, along with handling the international legal affairs, while partnering with a major independent oil exploration company and an additional two to four major oil and gas financial partners.
A recent article in the Wall Street Journal noted that, "Despite grueling conditions, interest in oil and gas reserves in the far north is heating up. Virtually every major producer is looking to the Arctic sea floor as the next -- some say last -- great resource play. One study, by U.K. consultants Wood Mackenzie and Fugro Robertson Ltd., puts reserves there at roughly 400 billion barrels, or 30% of the world's remaining supply."
Similar partnerships turned the North Sea into the backbone of the Scottish and Norwegian economies. The same spectacular results for the same model have taken place at Prudhoe Bay, Alaska and in several massive offshore plays in the Gulf of Mexico.
Peter Sterling, Arctic CEO, stated, "We have been well-advised to adopt this highly successful business model. This is the 'Harvard MBA' of international oil and gas business models and it seems that whenever it is used in developing a major prospect, it always works."
Sterling continued, saying, "Our legal development of the model will be in expert hands. I feel confident that our actions will assure the major oil companies that they are dealing with fellow professionals."
About Arctic Oil & Gas
Arctic Oil & Gas representatives have filed a claim with the United Nations General Assembly and the countries of Canada, Russia, United States of America, Norway and Denmark, claiming, as a responsible oil and gas development agent of the "common heritage of mankind," the sole and exclusive exploitation, development, marketing and extraction rights to the oil and gas resources of the seafloor and subsurface contained within the entire Arctic Ocean Common area beyond the exclusive economic zone of the Arctic Ocean's surrounding countries called the "Arctic Claims." The Company intends to operate as the "lead manager" tasked to create a multinational joint venture consortium of major oil companies, whose technology and managerial expertise will be vital to recovering the oil and gas from beneath the harsh, deep waters of the Arctic in an environmentally safe manner.
Please visit www.ArcticOAG.com
Private 'claim' to High Arctic resources both funny and dangerous: experts
20 hours ago
While nations ringing the North Pole mobilize icebreakers, put forward scientists and issue chest-thumping news releases to assert ownership of a potential energy bonanza beneath the shrinking sea ice, a former Australian miner and a retired Canadian senator have some advice for them.
Don't bother. It's already locked up.
"We claimed the rights to the hydrocarbons," said Peter Sterling of Arctic Oil and Gas Corp. from his office in Beverly Hills, Calif. "It's a prior claim.
"It's a little bit tenuous at present, but I think it will become stronger over time."
Sterling used to be involved with a number of resource and mining companies in Australia.
International law experts say the Arctic Oil and Gas "claim" for oil and gas rights on more than two million square kilometres of Arctic seabed outside the 320-kilometre limit of Canada, Russia, the United States, Norway and Denmark is comic-opera stuff. But they add there could be just enough to it to disrupt United Nations efforts to oversee orderly development of the resource and deliver it into American control.
"It's funny," said Rob Huebert of the University of Calgary. "Funny and a bit dangerous."
Sterling said the ice-covered waters of the High Arctic have never come under the control of any country and are open to claim. In May 2006, he sent a legal document to the UN General Assembly and the International Seabed Authority informing them that his company duly claims them.
Similar letters were sent to the five countries potentially involved.
Sterling said he believes his company will be bought out by a consortium of major energy companies from all five nations, giving the firms the rights to develop the resource. American companies would likely have the largest share, he predicted.
Because the resource would be outside any national jurisdiction, no royalties would be paid, although Sterling suggested the consortium would pay a 20 per cent tax to the United Nations. Tough environmental guidelines would be adopted.
That's the advantage of moving on the Arctic before the UN or national governments carve it up - setting your own tax rates and environmental rules.
"A lot of these stable countries have a tax regime where it's almost not worth going in," said Sterling, who calls the policy the UN has set up to regulate seabed mining "a mess."
He has written that allowing the UN to manage the Arctic through the Convention on Law of the Sea "would result in the gifting of America's future (Arctic-supplied) energy security and untold trillions of dollars in future UN resources taxes to a hostile and incompetent UN bureaucracy."
That's the real concern Arctic Oil and Gas poses for countries such as Canada, said Michael Byers of the University of British Columbia. Some U.S. politicians and lobbyists have long been opposed to signing any international agreement that could limit American flexibility, and Sterling provides them with an alternative.
"This is merely part of that general advocacy...they're just attempting to be spoilers," he said.
Huebert agrees.
"There will be some Americans who will say, 'That's why we shouldn't ratify (the Convention on Law of the Sea). Let's let this guy go ahead."'
Sterling says he has received a warm reception from energy companies. From the Canadian government, not so much.
"Their alleged claim has no force in law," said Foreign Affairs spokesman Bernard Nguyen.
Still, one Canadian energy company - Sterling won't say which one - is in talks for about 25 per cent of the action.
"We're just piecing that together now. I think Canada is going to lead the charge."
Retired British Columbia senator Edward Lawson is in the forefront of the action. He joined the board of Sterling's Arctic Oil and Gas earlier this month.
Lawson, who sat in the Senate for 34 years, has a background in organized labour and is described as a "humorist" in company releases. He did not respond to a request for an interview.
Momentum in the U.S. toward signing the Law of the Sea treaty is probably unstoppable at this point, said Byers, so Arctic Oil and Gas is a sideshow.
"I can't imagine that it's serious.".
Yes, it is, Sterling insists.
"(The oil) will come out. There's no question that eventually it will come out.
"It's just a question of what model is used, and I think our model is the best."
http://canadianpress.google.com/article/ALeqM5ijbKBEwiTyNLexOpCZtt8X5pVWJA
Private 'claim' to High Arctic resources both funny and dangerous: experts
20 hours ago
While nations ringing the North Pole mobilize icebreakers, put forward scientists and issue chest-thumping news releases to assert ownership of a potential energy bonanza beneath the shrinking sea ice, a former Australian miner and a retired Canadian senator have some advice for them.
Don't bother. It's already locked up.
"We claimed the rights to the hydrocarbons," said Peter Sterling of Arctic Oil and Gas Corp. from his office in Beverly Hills, Calif. "It's a prior claim.
"It's a little bit tenuous at present, but I think it will become stronger over time."
Sterling used to be involved with a number of resource and mining companies in Australia.
International law experts say the Arctic Oil and Gas "claim" for oil and gas rights on more than two million square kilometres of Arctic seabed outside the 320-kilometre limit of Canada, Russia, the United States, Norway and Denmark is comic-opera stuff. But they add there could be just enough to it to disrupt United Nations efforts to oversee orderly development of the resource and deliver it into American control.
"It's funny," said Rob Huebert of the University of Calgary. "Funny and a bit dangerous."
Sterling said the ice-covered waters of the High Arctic have never come under the control of any country and are open to claim. In May 2006, he sent a legal document to the UN General Assembly and the International Seabed Authority informing them that his company duly claims them.
Similar letters were sent to the five countries potentially involved.
Sterling said he believes his company will be bought out by a consortium of major energy companies from all five nations, giving the firms the rights to develop the resource. American companies would likely have the largest share, he predicted.
Because the resource would be outside any national jurisdiction, no royalties would be paid, although Sterling suggested the consortium would pay a 20 per cent tax to the United Nations. Tough environmental guidelines would be adopted.
That's the advantage of moving on the Arctic before the UN or national governments carve it up - setting your own tax rates and environmental rules.
"A lot of these stable countries have a tax regime where it's almost not worth going in," said Sterling, who calls the policy the UN has set up to regulate seabed mining "a mess."
He has written that allowing the UN to manage the Arctic through the Convention on Law of the Sea "would result in the gifting of America's future (Arctic-supplied) energy security and untold trillions of dollars in future UN resources taxes to a hostile and incompetent UN bureaucracy."
That's the real concern Arctic Oil and Gas poses for countries such as Canada, said Michael Byers of the University of British Columbia. Some U.S. politicians and lobbyists have long been opposed to signing any international agreement that could limit American flexibility, and Sterling provides them with an alternative.
"This is merely part of that general advocacy...they're just attempting to be spoilers," he said.
Huebert agrees.
"There will be some Americans who will say, 'That's why we shouldn't ratify (the Convention on Law of the Sea). Let's let this guy go ahead."'
Sterling says he has received a warm reception from energy companies. From the Canadian government, not so much.
"Their alleged claim has no force in law," said Foreign Affairs spokesman Bernard Nguyen.
Still, one Canadian energy company - Sterling won't say which one - is in talks for about 25 per cent of the action.
"We're just piecing that together now. I think Canada is going to lead the charge."
Retired British Columbia senator Edward Lawson is in the forefront of the action. He joined the board of Sterling's Arctic Oil and Gas earlier this month.
Lawson, who sat in the Senate for 34 years, has a background in organized labour and is described as a "humorist" in company releases. He did not respond to a request for an interview.
Momentum in the U.S. toward signing the Law of the Sea treaty is probably unstoppable at this point, said Byers, so Arctic Oil and Gas is a sideshow.
"I can't imagine that it's serious.".
Yes, it is, Sterling insists.
"(The oil) will come out. There's no question that eventually it will come out.
"It's just a question of what model is used, and I think our model is the best."
http://canadianpress.google.com/article/ALeqM5ijbKBEwiTyNLexOpCZtt8X5pVWJA
Industry analysts predict the mobile advertising market will reach US$10 billion in just a few short years. The scenario is a marketer's dream: an always on, always with you, two-way device that provides an unprecedented level of user information for the delivery of a device-specific, targeted message.