In other words, we got f-ed......
Tom's e-mail taken from Reg RB Board. Rich
By: 05140
Reply To: None Wednesday, 15 Aug 2001 at 11:09 AM EDT
Post # of 409132
ANSWER from TOM
Vincent,
I met the other day with Paul Egan and we reached the agreement that eConnect will sell ePayLatina eCashPads and will receive a % of each sale.
Furthermore, eConnect will receive an ongoing % of each transaction fee generated by ePayLatina in the
Dominican Republic when an eCashPad is being used by a Dominican Republic consumer to effect a
payment.
The same % will apply if and when eConnect is purchasing PERFECT devices manufactured by epayLatina and is generating transaction fee revenues from such devices.
In order for the PERFECT industry to grow, we need to have companies working together in cooperative competition.
The PERFECT industry represents a multitrillion dollar potential and there is room for many companies to
participate.
VeriSign and eConnect are rapidly moving forward together to develop the new service of Bank Eyes Only
card present credit card payments and ATM card with PIN and Debit card with PIN same as cash payments for VeriSign merchants.
An International Japanese company and eConnect are rapidly moving forward together to develop the smart card micro payment application for Internet commerce.
We are in daily discussions with established national and international companies who are now reviewing what the PERFECT industry will mean for their business model of epayment commerce.
The home gaming applications of the PERFECT industry are enormous and we are selling 2 year United States Licenses in September to various different PERFECT business applications.
Thank you for your ongoing interest in eConnect.
Sincerely,
Tom
Thomas S. Hughes
Chairman and CEO
