eConnect Launches On-Line Auction Business With 15,000 Pre Registered Users
Business Wire - August 31, 1999 07:15
LOS ANGELES--(BUSINESS WIRE)--Aug. 31, 1999--eConnect, Inc. (OTC BB: ECNC), a fully reporting company, announced today the grand opening of its Internet Auction portal at econnectauction.com.
This new initiative creates the world's largest on-line or off-line exclusive sports memorabilia auction. The auction is now live 24 hours a day, 7 days a week and features a variety of rare collectibles from throughout the sports world.
"eConnect Auction represents a revolutionary Internet Auction platform which, unlike its competitors, specializes in personalization and customization features for the benefit of its users. Matching specific items with a customer's demographic profile represents a giant leap in the on-line Auction arena" stated E. James Wexler, President of eConnect-Auctions.
The eConnect Sports collectibles site is a natural expansion of our eSportsbet.com gaming site which is scheduled for opening this week. eConnect's Sports collectibles Auction is the company's first on-line Auction and we are planning expansion into other market segments over the next 60 days. We have now increased our third quarter earnings potential as our pre registered users bring an active revenue generation to our sports collectibles auction site which will also act as a test site for our Same-As-Cash(TM) Internet transactions," stated Thomas S. Hughes, Chairman and CEO of eConnect.
eConnect is both an Internet and non Internet company focused on the global processing of P.E.R.F.E.C.T which are personal encrypted transactions originating from consumer friendly terminals which enable the public or home user to pay with either ATM card with PIN Same-As-Cash or by secure terminal sent credit card transactions.
eConnect consists of two Divisions: the eConnect eGate Division is now actively launching EzyShop,(www.ezyshop.cc) with revenues and earnings expected to be reported in the fourth quarter; the eConnect- Auction business unit and the service of Same-As-Cash which is the payment of Internet purchases with ATM card with PIN on line debit. eGaming consists of eSportsbet.com which is presently generating non Internet gaming revenues, and 777WINS.com. eConnect's strategic alliance with E-SAFE will enable eConnect to soon test Same-As-Cash pay per play gaming transactions from Australia to eSportsbet.com and 777WINS.com plus the INSTANT GOVERNMENT TAXATION of these winnings which eConnect believes will set the business model for globally accepted Internet gaming transactions.
This press release contains forward looking statements subject to the safe harbor act created by the Securities Litigation Reform Act of 1995. Management cautions that these statements may include projections and estimates of future performance and involve certain risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of factors such as changes in the marketplace, unanticipated competitive activity, a downturn in economic conditions, or delays in product development.
CONTACT: For eConnect: Carnegie Cooke
Anita Goldberg, 800/262-2331, (Investor Relations)
Bruce McWilliam, 011-61-2-9267-7555
Elias Argyropoulos, 800/600-8599
web sites: www.e-connect.cc
for eConnect recent interview see