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Nothing like trying to use reverse psychology to get MYEC/Ed to show their hand sooner than later. If that is the goal--it isn't working out too well.
Ed is a mathematician so there are many analytical deductions involved with his decision-making.
When you really make a strong argument for the long-term success of MYEC it's interesting to see how certain posters come out of the woodwork to try to subdue the narrative.
In due time they are going to be unable to suppress the narrative as MOMENTUM of many types comes into play.
Good points usandy-
Your inclusion of debit cards in your post is a key point.
A debit card is a different instrument and venue (ACH) than a fully electronic check (using Check21 rails).
For example, how many of the baby boom generation would like to get back to their roots albeit in electronic check form MyECheck over cards? They used paper checks solely for many decades--and hundreds of millions of paper checks are still in-play as of this writing.
When paper checks now in system become electronic checks in the system--who are the players who are poised to capture that market share?
I am seeing enormous traditional institutions now converting to digital payment forms. They're choosing ACH instruments because it's all they know. When they know about MYEC they will have greater choice. That's one of the hidden beauties here is that we don't have to be the all or nothing proposition.
Fortunately we offer a viable ACH alternative and have a great opportunity to educate consumers and businesses alike on the emerging alternatives.
MYEC PRs over the last month or so have included not only guidance but education on how we differ from ACH.
You were in the RMM sleep stage (Rapid MYEC Movement) sleep stage-- no need to worry ;)
When we get major external news combined with a major conflagration of revenues, float reduction, litigation monies--your very good dream could be plausible.
Even one major household name signing a deal with MYEC could propel us to incredible PPS heights in the near-present/future.
NXR Global customers are now paying them using MyECheck Electronic Checks deposited directly into NXR Global's bank account at Bank of America, pre-formatted for clearing over Check 21 rails.
IMPLICATION: If MYEC can do the above for NXR--they can do the very same thing for similar large entities or WHALES!!!!! The relationship with Bank of America and MYEC is not new however this is IME a very significant development.
I'm interested to see the banking player(s) that are going to be on the smaller-scale merchant accounts.
MYEC 2015: The Force Is Only Starting to Awaken
Been pressing my MYEC PANIC (BUYING) BUTTON like mad during April.
IME not a matter of if but when MYEC MOMENTUM hits MASS RADARs. We've seen no substantial buying interest and pressure for ages but nothing remains static forever.
MYEC is deceptively strong IMO--in that many shares are being eaten up and effectively taken off the market by longs.
“You never change things by fighting the existing reality.
To change something, build a new model that makes the existing model obsolete.”
R. Buckminster Fuller
Yes-
I'm going to be very relieved when Seergate officially closes--having our closed-loop system 'closed' literally is absolutely critical. Taking that uncertainty out of the equation is going to accelerate things here in spades.
If the above Seergate finalization is coming in next 7-10 days--what event(s)could proceed it in order to break us above .03 before the time of acquisition?
Going back to Ed's conference call he very much inferred that PPS altering event(s) + are going to be increasingly probable as official close of Seergate deal looms.
I always get a kick out of the FB effect. IMO it really awards longs and keeps others on an edge. I really doubt the manipulators enjoy when Ed speaks on a whim--giving the closest thing we have to real-time guidance and throwing a complete lack of predictability into the mix.
The greater masses are not putting in the time to really follow what Ed is saying--grasping the bigger picture that inevitably and powerfully will unfold. We haven't seen HUGE and sustained BUYING pressure for quite some time but no trend lasts forever...
1000 Posts Here at IHUB--show me some MYEC GREEN tomorrow ALL!!
Becoming one of the preferred alternatives to the entire ACH system is certainly no flip of a switch nor overnight sensation. I agree that progress is being made--the challenge is as shareholders we're not privy to 98% of what is really happening.
There are numerous puzzle pieces in-play as well as any number of issues that are completely outside the control of management and shareholders. I agree that patience is and will be a virtue here.
Faint, very faint sign of PPS pulse today...multiple dollars invested ;)
Glad to see that MYEC is back focused on PROCESSING. Looking forward to guidance confirmation as we move deeper into April.
Stored value and money transmitting licenses will come in due time.
I believe the A/S here could be around 7.5 billion. I seem to recall that number from 2008-2009 period. Does anyone else remember that number?
Based on Ed's comments--it sounds like we wouldn't be surprised to see a significant number of MAJOR PRs directly preceding official close of Seergate Acquisition.
In the event of above, .03 + is certainly on the near-horizon IME.
You're very welcome--it was a very interesting conference call
For me, today's conference call was definitely a good measuring stick about where we are currently. Ed does seem to be quite optimistic but also realizes the structural challenges that MYEC is facing internally and also externally.
Seeing potential opportunities however is not the same as executing on the same.
I do agree that patience will be rewarded here in time. It will be interesting to see if the timelines are going to be accelerated shortly. MYEC needs to on-board revenue streams in order to eclipse their expenditures.
I do think there is a possibility that we see 2-10x dollars coming in for every 1 going out by EOY. The International Banking developments are very interesting IME because many overseas consumers are used to having the type of capabilities we will soon be able to offer.
I would recommend to Ed that with respect to domestic US that he totally differentiate MYEC away from other merchant services. We are truly trying to be the alternative to ACH and we should educate all on the advantages and why check 21 is a viable part of the financial future.
It appears that PayPal and others are trying to con consumers into believing that they are offering something outside of ACH when they are not.
Page 10 to close
Opportunity to benefit shareholders re: how to hold patent
Patent is yet to be proven. (IME needs to be hard-tested)
Scottrade and Scottsdale unrelated according to Ed
Ed told Scottsdale directly that the stock they had was fraudulent and they went ahead and sold it anyway.
Our shareholders 'were damaged.' Not authorized or paid for.
Regarding MYEC stock:
Undervalued and often highly manipulated but Ed can't comment definitely on whether he believes price will go up or down due to SEC regs
UNDERVALUED
Tony capable
Sales staff Industry experienced selling against other products and merchant services
Ed is very picky about who he hires Nata and Bob didn't have industry experience and lacked overall experience...
Ed feels bad about certain timelines that were missed
Taking us longer than anticipated--longer than our partners anticipated as well
Ed's does not agree with some that 2014 was a 'crappy year'--feels like due diligence was being done to earn 10,000,000. Everything is culminating (MOMENTUM BUILDING)
Feels bad about multiple delays--but there have been changes in management, business model etc.
Hired Jim Fancher real asset and resource for co.
Effectively Mr. Fancher is running day to day operations
Ed wants to make sure there are funds to operate and interface with public. Closer now to DREAM TEAM w/DREAM software
WE'RE READY
More-capability
well-received
Hesitation due to launch delays
Huge opportunities dramatic ramp-up of revenues this quarter
Excitement and confidence for the future.
2:29:06
Time to go ice my hands...lol
Page 8
We have a phenomenal product for Government accounts. However these accounts are problematic because they require long, long sales cycle
Bidsync every lead CA seen by Ed each day. Not a good fit in nearly all cases. Ancient Government entities not looking for new ways...
INNOVATION rewards: No BUYOUT offers however 'lot of leads' signed!
Apps merchant live A system this month likely
Bank testing and integration ongoing
Geographic expansion anticipated No
Independent Sales people at present 2
Forever Living Aloe Vera 2 billion in sales
Simplifile (1/3 of counties United States)
Bank of America and Chase mentioned again
Smaller merchant
Online Gaming and Gambling do represent some opportunities but probably not as lucrative as first thought
Loading mobile wallets
2015 Innovation Rewards = very significant recognition. MYEC no longer overlooked by industry
Sierra Global Ed acted on their behalf in past-prior to GP acquisition. They are based out of Caribbean
MYEC will pursue any/all deals with any legitimate bank
VX (your guess is as good as mine) Waiting to go live--Bank in Iowa seems to be hold-up
Climbing a mountain takes huge amount of time but Ed believes that VX should be sooner (than later)
*Our business model doesn't necessarily need a bank--just need permission from banking institution to be a bridge to mutual customer
Facilitating B of A and Chase not much volume until now
SunTrust Bank mentioned
Potential for dividends Yes 'cash cow eventually
Patent under MYEC may never happen...
End of page 9
Your welcome page 6
Capture the industry unique and compelling. Lower barriers or break them
ACH and VISA are competitors
Major platform for International Bank deal is coming!!
Brand new payment method--world doesn't know but that is going to change
Quarter 2 processing now or live soon
Expects profits this year (2015)
Netflix 30 million subscribers w/debit card 2% fees. They just had to call 2,000,000 customers because of data breach
(MYEC data is one-time and encrypted)
Recurring billing card-based 2-3% huge potential sweet spot for MYEC
FASTER and CHEAPER than ACH
MYEC deferred tax liability
Bruce Smith is now independent contractor
ED is CEO and doesn't deal with nitty-gritty CPA level stuff
40 trillion in processing NACHA. No incentive to deal with MYEC.
Defending intellectual property--establish patent viability
NACHA is ACH
NACHA is owned by major banks
Competitive future predicted between NACHA and Check 21: We are superior in capabilities. Marketplace will sort it out
Form 10 refile on Friday or into Monday because of Good Friday. Review from SEC officer is on fast track because vast majority of requirements are 'in the bag.'
2 weeks from Friday or Monday or whatever day is filing.
Where is PR?
SEC rule reporting
1,000,000 couldn't be reported because MYEC bought company in question
SEC rules must be complied with even though Ed feels that their basic accounting assumptions are flawed (do not reflect true realities)
Millenials do not want the leather wallet bye-bye to 70s tech digital-mobile phone-no hardware. Rewards
Close Seergate = Own Patents
More to come to strengthen our hand
With time and more revenue--not an immediate gratification to be expected
End of page 7
Social media strategy
Direct Sales
Payments Industry experience
Independent Sales Reps
Partners support their merchants. MYEC can't take care of 100,000 accounts as presently constituted.
No Reverse Splits
Concentration -expect more shares to come back. Less 0/S is anticipated. Ultimate goal NASDAQ or more senior-exchange. May be chance of R/S if it is verified that it will help shareholders but only if it brings further value.
Dialgue w/Zipmark--open to settlement however they haven't been willing to show financial statements
Didn't pay for delivered software (that they're deriving revenue from)
MYEC's biggest risks: Newer Company challenges--can we get to market and make $$$$$$ quickly?!!
Legal/regulatory changes and unknowns
Reg CC federal reserve concerning electronic check is in the works
This quarter completion of reg CC is possible
Mitigation ramping up revenue better than TCA funding coming
Waiting on revenue to exceed expenses
Seergate = Internal Capabilities YES International Bank platform for multiple countries coming
Cualix International capabilities as well
Banking over-regulated environment in Ed's opinion. Longer timelines because of banking realities (regulatory burdens) sees it changing soon with less restrictions. Mobile payment apps to be money transmission federal and state licenses needed. Applying for these licenses now--
Trans 15 Yes/Yes payment company focused trade show. All ISOs/gateways
PayPal QR code based-- MYEC charges .25 they charge .25 + 3.9% PayPal
Electronic check clear money into wallet ASAP is MYEC special capability
They have parts but not whole solution. We've eliminated interchange fees..
NOBODY ELSE IN THIS SPACE
end of page 5
Excited to hear that they signed some deal(s) directly out of Innovation Award 2015.
No buyout offers at this juncture which is understandable since MYEC effectively hasn't even got into 1st gear yet.
It was good to hear that those shares from brokerage based out of Belize are effectively frozen. US Government action has put the brokerage on ice. Ed expects resolution on the 280,000,000? in about 4-5 months.
Sionic established merchant relationships up to Sionic and especially their merchants how to market themselves.
Scottsdale 900,000,000 up to the courts to decide. If we win huge monies coming our way however realistically Ed sees settlement happening and probably prefers this since court date would be in 2016 at earliest.
Number of companies signed but who are not announced and not yet LIVE
Itonis Face to Face meeting one month ago GP app not delivered yet bank regulatory changes. More due diligence needed w banks. Money transmission model a bit on backburner for moment back to PROCESSING!
Money transmitter licenses in the works
Itonis about 60 days from LIVE
Some customers are processing now--more SOON
Bank of America and Chase relationsips for years
Smaller clients bank Omnibus
Large merchants B of A
Open to new technology
In-place announcement very soon waiting on LIVE more than 1 Bank
Ed's hoping very much on this month (April 2015)
5,000,000 LOC in-place as needed
minor short fall 1st quarter
adjustments to expense side
almost cash flow neutral
new funding deal in the wings
Get out of TCA in July--use stock to get out
Seergate finalized? Integration close to 100%
Closing on acquisition SG due diligence on their end ongoing
wait to close
.03 better deal Hint-Hint
New Customer significant closing of deal worth cost of acquiring SG
Market NEEDs MYEC
Acquisitions
Simplifile Additional growth and revenue streams possible
new partnerships in pipeline
'Don't reinvent the wheel'
ISO 30,000 merchants merchant POS
Circumvent interchange fees .25 or even less
faster and more secure
Resellers
21st century versus 1970s despite any amount of enhancements
MYEC = NEW RAILS
GP relationships and partners already in industry
Yes director's insurance expand board of directors independent board of directors
Payroll companies per se as question worded NO
AGM yes
Maui or Vegas waiting on mobile app for true marketing push
Leverage establish merchant accounts and processors
end of page 3
11 pages of hand-written notes...still processing
15-20 potential PRs worth of material relayed during conference call (in some cases implied)
I believe Ed did give a realistic view about where things stand--April is going to be a critical crossroads IME
Conference Call Party ongoing...
Sounds like mute at 5PM EDT Ed will be reading and answering questions
I was struck by their lack of neutrality and bias against MYEC. I suppose their masters have handed them their script.
I've had a couple interesting discussions with Scottrade reps over the the last year concerning the purported 'why' they don't allow MYEC to purchased and it never adds up and I might add they've been pretty defensive as well.
Very eager to help in the event of one selling their shares back though.
Before DTC eligibility they were playing the blame MYEC card--but I do detect a smokescreen on their part and the historical ties to Scottsdale are quite intriguing.
From a 'fly on the wall' ;)
MYEC: Do you want to go out of business and lose all of your current and future revenues?
ZIPMARK: NO
MYEC: Then You Better Settle Right Now. Time is of the essence--and you're frankly out of time.
ZIPMARK: End of discussion?!?
MYEC: Absolutely. Simply sign here and avoid being sued to oblivion.
Most people don't associate the term 'checks' with INNOVATION. Of course, this is deserved with respect to the 20th century paper version.
If MYEC wanted to 'pump' the Innovation Award Win why didn't we see it 72 hours ago? For those who like constant guidance and fluff--I believe you would have to find great fault with MYEC thus far in this regard.
The great masses are not invested in MYEC, do not understand the implications and frankly as a very-interested shareholder I must admit I probably don't understand 97% of the real capability and implications.
Despite the above--and understanding the real world risks I've upped my original investment here by a factor of 35 x
Earlier shareholders here have seen such returns as 82.00 for every 1.00 invested. The ratios have been even sweeter for some. Can you imagine what is going to happen with residual revenue streams kicking-in, further share reductions and MAJOR MEDIA attention?!
How about a critical mass of shareholders who have accumulated and are holding for dollars and not small flips? SQUEEZE POTENTIAL
IME only a matter of time before further 'watershed moments' where fresh eyes are opened to MYEC's envisioned and REALIZED opportunities.
The above conflagration may come in form of external media attention, major PRs or one of our partners (like Sonic) doing a major media blitz.
I'm looking forward to more pertinent facts from MYEC over the next 30 days and some level of real-time guidance.
Originally the company was going for more of an open-source type of system.
Seergate is a closed-loop approach which actually makes huge sense since we are not trying to reinvent ACH like virtually everyone else. The existing system can be reformed but has fundamental structural flaws. It's clear that Ed wants to work with essentially a brand new system with its own gleaming new rails.
To me, Seergate represents a closed-loop system that is going to offer MYEC and its clients some real certainty and great capabilities in a rapidy changing landscape.
It's very clear (not conjecture) that the fed would like to see the MYEC-type approach adopted sooner than later. For this reason, I believe MYEC will capture real market share. The question is not if but how much and how successfully IMO.
With MYEC fully integrated with Seergate the 'Death Starrs' should be fully operational. I believe that to now--the company has been partially operational.
Those that believe MYEC to be an ordinary or mediocre player may be greatly underestimating the ability to gain market share rapidly. We're only one household name partnership away from HUGE exposure. MYEC is a PPS ticking time bomb...
IMO the Innovation Award is the forward-looking recognition from the greater industry that MYEC has a tremendous potential to not only find a niche but a market share in the new payment landscape IME.
Let's face it many of traditional financial institutions tend to lose sight of value and innovation over time and get overly comfortable.
MYEC waiting to break-out of an extended handle formation. Mix of further guidance, additional share cancellation/retirement and growing buying pressure could be a very volatile combination moving forward. Very slow start for 2015--but fortunately no trend lasts forever.
Good to hear from you ThaiLove
More time and patience needed here than many of us may have envisioned. I believe that expectations are now so low that a substantial bounce is very possible as new material guidance is released. This type of movement should attract of number of new investors and should reinvigorate more-constructive dialogue here and elsewhere.
The Seergate acquisition IMO is all about exponentially speeding-up the integration cycle. I welcome movement away from traditional banking channels--not only do they have a vested interest to not support MYEC's stated goals. They are too-tied to a dinosaur model to quickly adapt to needed change and reforms.
As I've stated before it's essential that MYEC truly closes deals and satisfies clients who are inevitably share their experiences positive and negative. I am hopeful that management will start to inform investors on projected revenue so that we can anticipate a rate of growth and get a better picture of the real market opportunities.
I beg your pardon--oh you weren't trying to offend with your salt comment ;)
I too am waiting to see Action from MYEC on a number of fronts.
Seeing where the company is at currently it would probably be best to not refer any Blue Chip targets to MYEC at this juncture.
Target #2 is not a Blue Chip per se but would have the market cap of NIKE.
Talking to Paypal and Netflix type entities is not the same as actually doing business with the above.
The two targets I have in mind specifically could benefit just by integrating an e-Check option 'powered by MyEcheck.'
The Death Starrs needs to be fully operational IMO to land the largest of whales. The A + game needs to be here and constantly.
As far as money transmitter licenses I think MYEC should work on getting those ASAP in Utah, Colorado and California and any other states where they have confirmed business that needs the above licensing.
I also think that the company should enter into a 30-60 day quiet period with the stated goal of executing any business that will bring in revenue(s). This quiet period would build a needed excitement and renewed feeling of forward momentum. There should be no updates on Form 10 etc. until it is 100% confirmed by independent sources outside of MYEC.
When they emerge out of the self-imposed quiet period they need to demonstrate that they have executed their stated business plan, offer live Apps and are ready to quickly integrate new business.
I actually believe one of the problems with MYEC is just how vast the potential is. I believe they may overwhelmed by the sheer volume of businesses that are interested in their capabilities. The cart seems to be moving before the horse.
IMO we can eat at the buffet all we want to later--for now we need to finish the plate before us.
We ought to formulate a plan collectively as shareholders. If the company maintains perpetual silence perhaps we should openly seek new ownership on our own time and even own dime.
New ownership and intelligent business efforts could potentially bring you tens of millions of reasons to support such efforts.
I don't have your type of position but I would be willing to spend a 100.00 or 1000.00 etc. to make 10,000-500,000 here.
A competitive buyout offer might force them out of their 'shell.'
;)
We have some new bank relationships, we should be able to make announcements regarding these relationships very soon.
Also, we were informed by VX Gateway late this week that their bank had completed their due diligence and we could start integrating, they confirmed they still expect to process large volume on our system.
MyECheck and Seergate Update:
Due to the impending acquisition of Seergate, we have some overlap of technologies. We are adopting the Seergate platform instead of the mobile platform we had built, it is much more feature rich, refined and tested. With the new system comes two new developers who are the creators of the Seergate platform. We have already integrated the Seergate platform with the MyECheck check engine.
To offset these costs, and because of the technology overlap, we have released from Employment a total of 5 MyECheck developers, plus two executives, we have reduced the salary of another Executive and I have forfeited my salary for 2015.
We intend to retain a couple of the old MyECheck developers on an independent contractor per task basis rather than pay additional employee burden.
Bruce Smith and Rod Zalunardo are no longer with the Company, there are no disagreements between the parties. We have appointed a new President of GreenPay but we are awaiting formal board approval before we publicly name the person.
Christine was promoted to Finance Manager and has more accounting responsibility, we will use an outsourced CFO service until a new CFO is appointed.
Our expenses have dropped dramatically as a result, along with our cash flow requirements. Our focus now is launching the GreenPay app in the next weeks, along with activating our customers and preparing for the MyECheck app release.
We have also decided to get money transmitter licenses for each state, and register with the Federal Government as a Money Transmitter. This will enable us to offer a broader range of services, the cost is relatively low, but it will take time to register in each state. We our hiring a specialist law firm to do it all for us.
Have a great weekend! Ed
I'm not VNDM but I'll try...
Pessimism kind of living large at the moment--probably a good time to buy more if you're a long.
I'm very interested to see developments relating to Seergate over the coming weeks. We're at a very critical juncture IME.
The daily share price fluctuations pale to potential opportunity gains or losses directly ahead.
There are a number of people who have won HUGE by going against common wisdom and not 'diversifying.'
How about placing most of your eggs in a winning basket?!! If you believe MYEC is that 'winning basket' all the power to you.
One of the great aspects about MYEC IMO is the common investor can still accumulate a large amount of shares for a reasonable amount of capital outlay. This can afford the power of true compounding:
2000.00\.0186 (MYEC Price Close 2-6-15) = 107,526 shares
Hypothetical growth rates-(choose your time period)
(.0186) x 250% growth = .0465 4999.95
(.0186) x 500% growth = .093 9999.91
(.0186) x 5000% growth = .93 99999.18
*MYEC has already seen an 8200% run in the last 2 years using .0010 to .082
Very good point.
Seergate's patents and platform should greatly enhance MYEC's abilities to rapidly integrate businesses and generate associated revenues.
Any solutions avoiding traditional banking channels are welcomed by this poster because the latter players are not going to be too excited to assist the disruptive changes coming to the financial landscape. Probably more like 'resistant' to put it very mildly.
Ecuador becomes the first country to roll out its own digital cash
Please read the above article and factor in where MYEC factors in. If Ecuador is moving forward with a digital cash system--what is the United States preparing to do? Specifically what is the plan to convert billions of paper checks into digital form? ;)
The other night I was listening to a nationally syndicated program that highlighted the growing problem of counterfeit U.S. currency. The 100.00 dollar bill has recently received a number of upgrades to try to deter foreign governments and other entities from completely overwhelming the paper currency 'firewall.'
A MYEC approach will help to discourage the use of 'paper' forms of payment especially paper checks and coupled with the use of digital cash will greatly deter those entities trying to do material and financial harm to the United States through paper means.