eConnect makes Internet History|
Business Wire - September 14, 1999 07:16
LOS ANGELES--(BUSINESS WIRE)--Sept. 14, 1999--eConnect (OTC BB:ECNC) announced today that it has made Internet
Business history by being the first on-line business or eCommerce company to open the back end of an eCommerce Reports section
for public viewing.
The Reports section is now immediately available for monitoring access by anyone who wishes to monitor the growth of the Art
Auction at www.theartauction.com/auction/REPORTS. The eConnectauction.com sports memorabilla site Reports section will be
open to access on September 21.
eConnect Chairman and Chief Executive Officer, Thomas S. Hughes, stated, "This is an Internet first and will enable any eConnect
shareholder, prospective shareholder and all of Wall Street to watch our business grow on a daily basis by monitoring our Reports
section daily revenue activity." Hughes added, "Shareholders will be able to know exactly what our Auction business growth is on a
daily basis and will no longer will have to wait for quarterly reports."
eConnect announced yesterday the launch of their new Art Auction site at theartauction.com.
eConnect's Art Auction is the Internet's premier destination for Art enthusiasts. It features 24 hours a day and seven days a week
auction activity on a wide variety of Art.
The Art Auction is a recognized leader in the Art Industry due to the important fact that there are more than 20,000 unique visitors
each day. This alone puts the Art Auction in the top tier of most heavily visited Internet sites on the Net. In fact, according to PC
Data, that would put us in the top 1000.
Additionally, there are more than 14,000 registered users currently and that number is expected to reach 25,000 by the end of
James Wexler, President of the Auction Group, stated, "eConnect Investors should realize, that the key with any Internet business is
traffic and registered users. With this much traffic and this extremely large amount of registered users, we will have the ability to sell
millions of dollars worth of Art. In fact, with this much traffic and this many registered users, we will be able to expand from Art to
other products such as books, C.D.'s and more."
eConnect is focused on Internet and other consumers using financial cards and inexpensive equipment from homes, offices, and
mobile locations to make purchases or pay bills. eConnect has developed SafeTpay to enable that service, and has acquired
artauction.com and econbid.com to generate revenues and to act as test sites for SafeTpay. eConnect has developed EzyShop, a
kisok approach for non Internet consumers. eConnect has developed the first Linux based transactional server and a host processor
that will drive these transactions originating from eConnect hardware. eConnect generates a merchant fee per transaction.
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.
Anita Goldberg, 800/262-2331
Elias Argyropoulos, 800/600-8599