Monday April 16, 10:00 am Eastern Time
Press Release
SOURCE: E-Commerce West Corp.
E-Commerce West Issues Update
DEADWOOD, S.D., April 16 /PRNewswire/ -- E-Commerce West Corp. (OTC Bulletin Board: ECEE - news) through a
wholly-owned subsidiary, began research and development on its Business-to-Business internet application in Fall, 1999. To
date the Company has made the following progress:
-- the Company has entered into a licensing agreement with its Israeli
software supplier accompanied by the initial licensing payment.
-- a beta test version of the Company's proprietary software has been
developed and tested. The Company is pleased with the results to
date.
-- presentations have been made to a cross-section of corporations whom
the Company believes will benefit from the application.
-- the Company has entered into an Agreement in Principle with one
corporation to implement its application and is in negotiations on the
definitive agreement.
-- The Company has made multiple presentations at various management
levels to a NYSE corporation, each of which were well received. The
Company is optimistic a definitive agreement can be concluded.
-- The Company has a pending agreement with a high-profile State agency
to implement its application.
-- The Company has received an expression of interest conditioned upon
the successful launch of its application from one division of a
corporation with over 15 operating units. Two additional units of
this corporation have also expressed interest in implementing the
application.
``We're gratified that our diligence and efforts to continue to bring our application to market have been rewarded with such
enthusiasm from our potential client companies,'' said Jon Elliott, President/CEO.
``Once launched, when we contemplate the highly-scaleable nature of our application combined with its built in recurring
revenue stream, we can't help but be optimistic about the future,'' continued Mr. Elliott.
The Company will continue to keep its shareholders and the financial community informed of new developments and
benchmarks as they are reached.
E-Commerce West, a fully-reporting public company, is engaged in the development and marketing of a unique B2B internet
application designed to enable corporations to gain a significant competitive advantage in enhancing communication with their
employees and customers.
This press release contains forward-looking information. These forward-looking statements, which by their nature are subject
to risks and uncertainties, include but are not limited to completion of contemplated agreements, favorable market acceptance
and additional financing availability at acceptable terms, are made pursuant to the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. (PSLRA -'95). These forward-looking statements may be significantly impacted,
either positively or negatively, by various factors described in the Company's Form 10-KSB for the year ended July 31, 2000
and the Company's Form 10-QSBs for the quarters ended October 31, 2000 and January 31, 2001 as filed with the Securities
& Exchange Commission. Therefore, actual results may differ materially from any forward-looking statements.
SOURCE: E-Commerce West Corp.
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