eConnect Inc. (fka ECNT)

[jarta]

Chris B,

The following are my paraphrases of your questions, followed by my answers. If you need more; ask more. (Or, send me a Private Message.)

1. Why 100 million shares? Not discussed by Tom other than a statement that they are needed and there are no present plans to spend them all. No questions from the floor about this.

2. Float? Nothing mentioned at all.

3. Relisting? Tom said NASD had been asking questions of Alexander Securities who is seeking the relistment. He said over 40 pounds of documents had been submitted. After asking questions and going back and forth, TOM said that NASD has now signed off and has no more questions. According to Tom, the paperwork has been sent by NASD to the SEC to see if it has any further questions. The time for the SEC to respond was said to be tomorrow.

In Tom's opinion, that means that as early as tomorrow ECNC could be relisted. I think that is overoptimistic. But, it sure looks like relisting will occur. Tom said he was flying East today to meet with political types to enlist their help (I assume with the SEC).

A question was asked (misterlmf?) about the price after relisting. Tom laughed that he didn't think it would be at the $10 price it was at before the halt. No one seemed to know how the price would be set, but all seemed to assume that it was initially up to the MM.

4. China? Not a topic of discussion and no questions about China.

5. Investment Banking Consultants? No mention of VC and no questions.

6. Star & Mac Approval? No mention by Tom or the consultants and no questions. However, I was sitting at a table and David Paul, founder of NDFC, was sitting right next to me. I told him that I had heard that Star and/or Mac approval was necessary for ECNC's cashpad.

He scoffed and said that first of all, NDFC already had Star and Mac approval and that no further appoval would be necessary. If anything became necessary, Paul was certain NDFC could obtain it.

7.Orlen's Compilation? What can you say! Some of it's correct, some of it's exaggeration and some of it's just not the same as what I heard at the meeting. The meeting concentrated on introducing the two partners (NDFC and iMethods). I liked the people from both companies. It appears that Tom realizes he has few management skills. I got the feeling that NDFC will handle all the processing in the US and iMethods will do all the marketing strategy (including strategic partnerships with name players).

I hope this helps. ... eom