Wednesday, September 07, 2005 9:02:58 AM
ETLC..very nice news :)))
3M cash infusion and 100M dollar company into ETLC.
DESOTO, Texas, Sept. 7, 2005 (PRIMEZONE) -- eTelcharge.com, Inc., (the
"Company") (Pink Sheets:ETLC) www.etelcharge.com, a financial diversified
merchant services company, and The American Home Market Corporation (AHM), a
privately held company that serves as a Certified Closing Agent for the United
States Department of Housing and Urban Development today announced an outline of
the merger expected to close in November, 2005 pending due diligence.
Both companies expect significant mutual benefits through customer
optimizations. Upon successful completion of the merger and as the common
ownership of the two companies is realized, eTelcharge.com will offer American
Home's growing client base the ability to establish a viable online payment
alternative system for the working class and those concerned with internet
transaction fraud.
"The innovative and revolutionary qualities of the soon to be released 1.1
version of the phone billing option by eTelcharge, we contend, will readily
demonstrate that it was worth the market's wait for its release," stated Ray
Jackson, President and CEO of AHM Corporation. As previously announced, Mr.
Jackson would become Chairman of the Board for the newly merged company.
The main elements of the Letter of Intent include:
-- The newly merged company would do business as eTelcharge.com, Inc.
-- eTelcharge.com, Inc. will continue operations as a publicly
traded corporation.
-- AHM shareholders would receive an issuance 152 million shares of
restricted common stock. With a two-year restriction on the
stock, AHM intends to hold the stock.
-- AHM would infuse $3 million in capital to assist in launching an
effective advertising and marketing campaign for eTelcharge.com's
new online currency
Other material terms of the LOI are as follows:
-- Former shareholders of AHM would have the right to appoint four
directors to the Board of the new eTelcharge.com, Inc.
-- Former board members of eTelcharge.com may continue to serve on
the new board representing three members.
"Over the next few weeks our companies will continue to move forward in the
direction of completing this planned merger," stated Carl Sherman, President and
CEO of eTelcharge.com, Inc. "This merger should provide eTelcharge with the
financial strength and built-in customer base to capitalize on the market
opportunities to be had for the company that brings a simple, yet viable
solution to identity fraud -- the fastest growing crime of the 21st Century,"
expressed Mr. Sherman.
eTelcharge.com's 1.1 version of the phone billing option will focus on
two-primary markets -- Baby boomers and the Hispanic market. "Both markets have
been underserved on the Internet and I believe that the market will be attracted
to the ease and secure benefits offered by this innovative, but conventional way
to buy online," asserted Mr. Jackson.
About eTelcharge.com
eTelcharge.com (Pink Sheets:ETLC) offers the traditional credit card merchant
services, checks and other existing financial infrastructure offered by banks,
as well as the proprietary new online currency that provides online shoppers the
exclusive choice to charge items to their telephone bill. Designed to reduce the
risk of identity fraud and identity theft by providing an Internet credit option
for online shoppers to charge a number of items sold over the Internet. This
payment option is a perfect match for the 70 million Americans who do not own a
credit card. eTelcharge.com started as the only company with the ability to
charge a variety of products to the home phone bill. Clearly, past electronic
commerce solutions have not employed effective security and privacy techniques
that adequately address consumer concerns about privacy and security on the
Internet today. The release of the latest version of the proprietary phone
billing option is scheduled to be launched summer 2005. For more information, go
to http://www.eTelcharge.com.
About The American Home Market Corporation
The American Home Market Corporation (AHM) and its subsidiaries are a Fee Office
of Title Texas (Formerly Safeco Land Title of Dallas). We have assembled one of
the most experienced commercial and residential closing teams in the State of
Texas, if not the nation. The combined expertise of our escrow officers,
in-house attorney closers, support legal staff and escrow support staff is
unequaled in the business. A strong and widely diversified repeat customer base
(individual, developer, lender, attorney) is a powerful testimony to our
success. We are Certified Closing Agents for the United States Department of
Housing and Urban Development (HUD) and as such we are the closing agents for
any home sold by HUD in 42 counties throughout the State of Texas. With over
$100 million dollars in yearly revenues, we are strongly committed to providing
the finest products and services available.
This news release includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The statements involve a
number of known and unknown risks and uncertainties that may cause
eTelcharge.com, Inc. and actual results or outcomes to be materially different
from those anticipated and discussed herein. These include its historical lack
of profitability, limited working capital, the need for additional capital,
end-use customers' acceptance of new products and actual demand, the need for
eTelcharge.com, Inc. to manage its growth, and other risks associated.
CONTACT:
Break of Day Advertising
Public Relations
Dawn Mann
(214) 455-5670
3M cash infusion and 100M dollar company into ETLC.
DESOTO, Texas, Sept. 7, 2005 (PRIMEZONE) -- eTelcharge.com, Inc., (the
"Company") (Pink Sheets:ETLC) www.etelcharge.com, a financial diversified
merchant services company, and The American Home Market Corporation (AHM), a
privately held company that serves as a Certified Closing Agent for the United
States Department of Housing and Urban Development today announced an outline of
the merger expected to close in November, 2005 pending due diligence.
Both companies expect significant mutual benefits through customer
optimizations. Upon successful completion of the merger and as the common
ownership of the two companies is realized, eTelcharge.com will offer American
Home's growing client base the ability to establish a viable online payment
alternative system for the working class and those concerned with internet
transaction fraud.
"The innovative and revolutionary qualities of the soon to be released 1.1
version of the phone billing option by eTelcharge, we contend, will readily
demonstrate that it was worth the market's wait for its release," stated Ray
Jackson, President and CEO of AHM Corporation. As previously announced, Mr.
Jackson would become Chairman of the Board for the newly merged company.
The main elements of the Letter of Intent include:
-- The newly merged company would do business as eTelcharge.com, Inc.
-- eTelcharge.com, Inc. will continue operations as a publicly
traded corporation.
-- AHM shareholders would receive an issuance 152 million shares of
restricted common stock. With a two-year restriction on the
stock, AHM intends to hold the stock.
-- AHM would infuse $3 million in capital to assist in launching an
effective advertising and marketing campaign for eTelcharge.com's
new online currency
Other material terms of the LOI are as follows:
-- Former shareholders of AHM would have the right to appoint four
directors to the Board of the new eTelcharge.com, Inc.
-- Former board members of eTelcharge.com may continue to serve on
the new board representing three members.
"Over the next few weeks our companies will continue to move forward in the
direction of completing this planned merger," stated Carl Sherman, President and
CEO of eTelcharge.com, Inc. "This merger should provide eTelcharge with the
financial strength and built-in customer base to capitalize on the market
opportunities to be had for the company that brings a simple, yet viable
solution to identity fraud -- the fastest growing crime of the 21st Century,"
expressed Mr. Sherman.
eTelcharge.com's 1.1 version of the phone billing option will focus on
two-primary markets -- Baby boomers and the Hispanic market. "Both markets have
been underserved on the Internet and I believe that the market will be attracted
to the ease and secure benefits offered by this innovative, but conventional way
to buy online," asserted Mr. Jackson.
About eTelcharge.com
eTelcharge.com (Pink Sheets:ETLC) offers the traditional credit card merchant
services, checks and other existing financial infrastructure offered by banks,
as well as the proprietary new online currency that provides online shoppers the
exclusive choice to charge items to their telephone bill. Designed to reduce the
risk of identity fraud and identity theft by providing an Internet credit option
for online shoppers to charge a number of items sold over the Internet. This
payment option is a perfect match for the 70 million Americans who do not own a
credit card. eTelcharge.com started as the only company with the ability to
charge a variety of products to the home phone bill. Clearly, past electronic
commerce solutions have not employed effective security and privacy techniques
that adequately address consumer concerns about privacy and security on the
Internet today. The release of the latest version of the proprietary phone
billing option is scheduled to be launched summer 2005. For more information, go
to http://www.eTelcharge.com.
About The American Home Market Corporation
The American Home Market Corporation (AHM) and its subsidiaries are a Fee Office
of Title Texas (Formerly Safeco Land Title of Dallas). We have assembled one of
the most experienced commercial and residential closing teams in the State of
Texas, if not the nation. The combined expertise of our escrow officers,
in-house attorney closers, support legal staff and escrow support staff is
unequaled in the business. A strong and widely diversified repeat customer base
(individual, developer, lender, attorney) is a powerful testimony to our
success. We are Certified Closing Agents for the United States Department of
Housing and Urban Development (HUD) and as such we are the closing agents for
any home sold by HUD in 42 counties throughout the State of Texas. With over
$100 million dollars in yearly revenues, we are strongly committed to providing
the finest products and services available.
This news release includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The statements involve a
number of known and unknown risks and uncertainties that may cause
eTelcharge.com, Inc. and actual results or outcomes to be materially different
from those anticipated and discussed herein. These include its historical lack
of profitability, limited working capital, the need for additional capital,
end-use customers' acceptance of new products and actual demand, the need for
eTelcharge.com, Inc. to manage its growth, and other risks associated.
CONTACT:
Break of Day Advertising
Public Relations
Dawn Mann
(214) 455-5670
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