September 23, 1999 06:46
eConnect Increases Revenues From Online Auction Holdings by 20% Since Early September Acquisitions
LOS ANGELES--(BUSINESS WIRE)--Sept. 23, 1999--eConnect (OTC BB:ECNC) has added on 800 new registered users at an average of 150 new registered users per day and has increased overall revenues by 20%.
The present eConnect user auction base is valued in excess of $6 million. eConnect is projecting 16,000 registered users by Sept. 30 and 25,000 registered users by Oct. 31.
eConnect will be offering ePINs in October for registered users to pay for auction purchases at theartauction.com and sportsfox.com with Same-As-Cash transactions by ATM card and PIN. eConnect is also testing the ePIN to open Internet trading accounts with its Cash2Trade.com service.
eConnect will aggressively work from Australia with its partner, E-SAFE, to test the ePIN for home lottery transactions by ATM card and PIN and to test legal Internet pay-per-play transactions.
eConnect is the developer of eSecure systems; This is the usage of simple inexpensive equipment from homes, offices and public locations to pay with Same-As-Cash ATM card with PIN or an enhanced credit card transaction. eConnect generates a fee per transaction, which is paid by the merchant. eConnect is also building its own Web sites for revenue generation and has activated its EzyShop publicly located kiosk service in the Los Angeles market.
This news release contains forward-looking statements subject to the safe harbor act created by the Private Securities Litigation Reform Act of 1995. Management cautions that these statements represent 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: Carnegie Cooke & Co. (for eConnect)
Anita Goldberg, 800/262-2331
Elias Argyropoulos, 800/600-8599
Web site: http:/www.e-connect.cc