Replies to post #2285 on Wise Investments (WISE)

[the_ref0]

Hey Scrooge, I only show a little over 12 million shares with some warrants outstanding. That is the after the 5 for 1. They did issue some shares after the split to look after some debt and operating expenses... As far as dropping I don't believe we will see it go below 3 bucks let alone .34 cents. With the passage of the banking bill and the savings that can be had, I would say this is a very good product UDW offers.

I could be wrong, (was wrong once before...LOL) but I dont see this fading!

Mike


"Bush to Sign Electronic Banking Bill
Tue Oct 28, 8:14 AM ET Add White House - AP to My Yahoo!

Update - October 28, 2003
Check 21 was signed into law by President George W. Bush today at approximately 1:55 p.m. EST.


WASHINGTON - A bill awaiting President Bush (news - web sites)'s signature would allow banks to clear checks electronically, potentially slashing paperwork.


AP Photo



Under the legislation, banks will be able to approve digital images of checks rather than physically transport them between financial institutions.


The bill changes the current requirement that banks have specific agreements with other institutions to electronically process checks. Banks, customers and businesses that still want paper checks could request a substitute check, which has the same legal status as a regular one, to confirm the electronic transfer.


Bush was signing the legislation Tuesday in a White House ceremony.


With tens of billions of checks processed annually, the current system is prone to delays when air transportation halts. The Sept. 11, 2001, attacks lent urgency to electronic check legislation, as banks had to resort to slower ground transportation when planes were grounded. "


US Dataworks Prepares for Passage of Check-21

2003-10-07 09:51 ET - News Release

HOUSTON, Oct. 7 /PRNewswire-FirstCall/ -- US Dataworks today announced, based upon its discussions and with its existing customers, that its customers at full volume should process over 1.3 billion account receivable conversion ("ARC") transactions annually, representing approximately 14.5% of the total Automated Clearing House ("ACH") transactions processed by the ACH Network (based on ACH 2002 year end data), a portion of which UDW should be directly involved with the processing of such transactions.

As a result of the recent changes in the National Automated Clearing House Association Rules and a reinterpretation of Regulation E (12 CFR 205.1 et seq., the federal regulations governing electronic funds transfers) in March of this year, banks and other processors of paper checks may now convert a majority of their paper checks into electronic transmissions, known as account receivable conversions, or ARC. By converting paper checks into ARC, the processor no longer needs to handle, store and remit the paper check --- an image of the paper check is made and the data can be read, stored and transmitted electronically.

Though the savings of converting a paper check to ARC may be relatively small on a per transaction basis, we believe the savings are quite significant when multiplied by the millions of transactions processed monthly by many of the larger banks, retail merchants, governmental agencies, credit cards companies, utilities, insurance companies and other large billers.

Despite the potential savings paper check processors may realize from converting their paper checks into electronic transmissions, only a limited number of processors have fully implemented ARC. A number of processors have not switched to ARC because not all checks may be electronically converted, requiring processors to maintain dual processes for both paper and paperless transactions.

"We believe that the passage of Check Truncation Act for the 21st Century, or Check 21, should eliminate many of the objections most merchants and banks have with switching to a fully electronic check processing system," said US Dataworks President and COO Terry Stepanik. "We are continuing to work with existing customers and with several new partners to bring a fully functioning Check 21 system to market prior to the legislative effective date." Check 21 has been approved by the House and Senate Conference Committee on October 1, 2003 and, following ratification from Congress, will be presented to the president for signature into law.

About Check 21

The Federal Reserve Board has developed Check 21 to remove certain legal impediments to check truncation (i.e., electronic information about the truncated checks is presented to paying banks instead of the original paper checks themselves). Check 21 is designed to facilitate check truncation, to foster innovation in the check collection system without mandating the receipt of checks in electronic form, and to improve the overall efficiency of the nation's payments system.

Check 21 may result in substantial payments system benefits, depending on the extent to which banks take advantage of provisions of Check 21 to expand the use of electronics in the collection and return of checks. Check 21 should result in faster collection and return of checks and lower costs in the long run; in addition, Check 21 would reduce banks' reliance on air and ground transportation for collection and return of checks. The more rapid check collection and return process could be accomplished in many ways, with benefits likely accruing to both banks and their customers. For additional information, go to the Federal Reserve Bank website (http://www.federalreserve.gov/).

About US Dataworks

US Dataworks is a developer of electronic check processing software, serving several of the top banking institutions, credit card issues, and the United States Government. Software developed by US Dataworks is designed to enable organizations to transition from traditional paper-based payment and billing processes to electronic solutions. Core products include: MICRworks, MICRworks-Lite, Returnworks, Remitworks, and Remoteworks-Daemon.

FOR MORE INFORMATION:
Contact:
Charles E. Ramey
US Dataworks, Inc.
[phone] X200, [e-mail], http://www.usdataworks.com/

Investor Relations: Geoffrey Eiten
National Financial Network
[phone] X613, [e-mail], http://www.nfnonline.com/udw
Except for the historical information contained herein, the matters set forth in this press release, including, but not limited to, transactions processed by US Dataworks, expectations regarding the benefits of electronic check processing and the passage of Check 21, increase in transactions following the passage of Check 21, adoption of paperless processing systems, the timing and implementation of a Check 21 system, and the expected cost savings of a Check 21 system are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, but not limited to, the Company's position in the marketplace, our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations, our ability to obtain future financing and other risks detailed from time to time in the SEC reports of US Dataworks, Inc., including its annual report on Form 10-KSB/A for the period ended March 31, 2003 and its quarterly report on Form 10-QSB/A for the period ended June 30, 2003. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements.