ECNC DD Directory and FAQ?s by jorjenzak 11/4/99 |
Some quick advice:
#1 Do you own DD! But feel free to ask for help and direction.
#2 Don?t get greedy, take your profits when you can and if it looks good ride your free shares.
#3 DO YOUR OWN DD!!!! Take what you get off the threads and emails for what its worth and use your head and good judgment to double check it.
#4 Get to know this first class guy...he can get you the answers you need on ECNC:
Manny, The Wall Street Ranger, The I R Relations Man, The Art Auction Liaison, The Venture Capital Pursuer, The Broker Presentation Assistant, The Aide-de-Campe to the CEO:
These titles and "job descriptions" should let you all know that I perform a few functions for ECNC. This is also why you all will have to forgive me and understand that it is only one of my functions to monitor the threads.
A new modus operandi that has been working well is my
e-mail. I get between 20 and 30 a day and try to answer what I can A S A P. My email address is EVavolizza@aol.com
In my own words:
ECNC is a same as cash transaction facilitation company,
with its focus on everyday consumer transactions and an eye on also making money on wagering. It was originally called Bettting, Inc. (BETT) and was a Missouri corp. that was originally known as Legoons which was a clothing
company. Tom Hughes is the CEO, man with the vision and driving force behind it all. What a guy! What a worker! He now has a team of professionals helping diversify and grow the company and it is set to TAKE OFF! I see this mode of transaction facilitation as having the same impact on our society as credit cards and more recently ATM's and debit cards. It WILL be the way we do business in the future.
ECNC is fully reporting.
ECNC is currently generating revenues from multiple sources, though not alot yet, such as the betportal, 777WINS, and paymaster kiosks.
ECNC is about to enter a beta testing phase on its revolutionary same as cash instant transaction technology, which is triple encripted and can even transmit via phone line to avoid the 'net and hackers. We are rumored to be THE FIRST company to get off the ground with this technology, although alot of potential competitors out there posturing.
ECNC is a b2b company....business to business.
ECNC is focused on becoming a global company......we are to become THE HUB for instant transaction processing, be it internet or otherwise.
ECNC is about to beta test and in a month or so implement revolutionary Cash2Trade which will allow you to instantly fund your brokerage account by swiping a debit card through an ePin.
ECNC is about to beta test and in a month or so implement revolutionary SafeTpay to allow secure instant transactions for all types of commerce activities.
Do your own DD!!
Check Edgars for filings and the story is all there.
FAQ?s (Frequently asked til we are puking questions) :
>>What is the current float, outstanding shares and issued shares for ECNC?
As of 11/4/99 I understand the float to be around 17M, issued around 83M and authorized is 200M....company holding lots of shares on the shelf to cover 31M in warrants, 9M in employee stock incentives and for acquisitions and for possible later sale to raise capital if needed.
>>Where can I find out more about ECNC?
Regular weekly chat sessions Thurdays starting at 9PM EST, 8PM CST, 6PM Pacific at: clubs.yahoo.com
All filings for BETT and ECNC can be found at -
ECNC Company links:
clubfatt.com (check out the club report on ECNC under REPORTS)
Link to the DD Warehouse on ECNC....200+ DD posts, opinions, PR's, etc.
for a quick intro to the company's past up to August ?99 (got to be too much to keep up and too large for you to review it all) -
Link to the current active ECNC SI Thread -
The regulars on the thread are ocmayor, scoobey-do, Lord Ernie, Fli-by,
Ron P. Margrapf, Manny the Ranger, Mark Richter, Stevek, DaiTN, scouser,
longtom, myself and a host of others I can't remember off the top of my
head. Sorry if I left anyone out. Also a GALAXY of lurkers who post
occasionally and those who never post but often e-mail me about the
thread....usually to brag on us!
Link to the original BETT (now ECNC) SI Thread...where we all got started!
emergingcompany.com. Interview of CEO Tom Hughes viewable on the net.
**ECNC commercial can be viewed here using these instructions:
**Link to a post I copied with more current analysis of ECNC (not that I
totally agree with and and don't endorse it but some good info here) and
includes some of my FAVORITE excerpts from the last 10K:
**Link to info from Tom on Ezyshop:
**Link to another great update from Tom on PERFECT and more:
**Link to PR where company announces it is paying off the Canadian
debenture before conversion and sending the shorters packing:
**Link to an early post regarding a quick picture of the company at that
time, note the company is now out of Nevada, is no primarily focused on
wagering but has refocused on servicing all kinds of transactions:
**Link to early business plan of the company....technology remains the
same and potential is huge but focus has shifted away from concentration
on wagering, and they do have competition now but NO ONE is up to speed
with ECNC!!! Message 9769556
**Link to page two of that business plan:
**Link to the rest of the business plan:
**Link to text of speech by Tom Hughes in London, England a year or so
ago: Message 9772425
**Link to the rest of the speech:
**Link to Tom's background from Tom himself:
>>Why is an ePin required for same as cash transactions using an ATM/Debit Card?
Check out Reg E of the Banking Laws.....to have an ATM transaction you have to enter a PIN....thus the swipe and keypad method.
>>How many employees does ECNC have on the rolls?
Per Manny, ECNC = employees 16*, Rogel = 5, 777 WINS = 2, Attorney and Accountant = 2
*The above total of 16 includes mangement, SateTPay, TheArtAuction, EZYShop, Webmaster and new consultants.
General interesting stuff:
Here was the post Fatt Matt made regarding what could really happen here...
And Phatty?s report on ECNC:
Something that has been bugging me ever since Lynn Goodman mentioned it,
along with Gary Hill, is finding that one leader in an industry that is up
and coming. The one that has the balls to try something.
I think ECNC is one of these type. I was sitting there thinking, how can
ECNC be a leader. I was stuck on this stuff about the sportsbetting, which
is really great, but I know it isn't the core. Basically, I don't care
about it or 777wins.com beyond being cash cows. I think they should sell
eventually. They will not do any good but provide an experiment ground and
provide cash. AFter they get this transation (PERFECT) off the ground,
they will be of no use.
Anyways, back to the leader stuff. Do you recall us being in GOCA? I
remember reading an article about the gov't or industry c racking down on
CHARGE CARDS being maxed out and causing people problems. Sure, VISA makes
money here (well, if they pay), but not always. What if they go bankrupt
from it!! But ECNC might be the key to the gov't cracking down on this
crap. (I hate gambling personally--the slots and cards) What it looks like
is ECNC gets a fee from this PERFECT technology when used. VISA gets 3% of
every sale I beleive by using their cards. This might be what ECNC gets.
But ECNC doesn't use credit. It all links back to an ATM account. It's
like a cash account in the stock market. you can't spend more than you
have. If the gaming industry gets bad enough, this could be the key to
keep it alive. Use only what you got. It would make the die-hard happy
too, because they would be limited!
Now, I know gambling isn't their only industry, but they apparently share
the same vision I do becasue they have acquired the 777wins.com casino. I
bet they use this as a cash cow and a testing ground. Very smart. (I'm
calling them smart, but I don't know for sure! LOL)
This is what gives them the edge and makes them a leader. They have a new
technology that I have never seen before and could DRAMATICALLY help out
an industry. I don't know how the structure works, whether it be % of
sales or an upfront licenssing fee or what...But either way, they can make
it big with it all.
Filings look good. I was just confused on all of the name changing and the
jurisdiction changing and all that BS. It's all good now and going out to
I obviously think the stock has a lot of potential. The company is taking
its time to do everything right and getting all of the ducks lined up. I
like that in a company!
There is supposed to be a site launched this week. I doubt people will
really sell into this. If so, it will only allow us to pick up shares
cheaper! Might be smart to wait and see what happens at the bell.
The stock could go wild. It's only a matter of time. I think this is one
of those rare stocks that just might be able to be considered an
investment and not a trade. I could be proven wrong on this. Either way,
I see potential to make money here.
NOTE: original report on FM?s Club Fatt....check it out at www.clubfatt.com and sign up to join his new thread, www.investorshub.com
Answers from the CEO:
Tom's answers to Jay Chesley
1. We generate a transaction fee as paid to us in the same manner as 3rd. party processors are paid today.
2. Confidential information as regards banks.
3. PLUS is not a POS system whereby the ATM card and PIN is used to move cash. PLUS is the VISA system that unifies the various ATM machines across the country. CIRRUS is the Master Card system.
The proper term is Interlink for POS which is VISA and Maestro for POS which is Master Card.
Interac refers to the Canadian POS system which is controlled by the Royal Bank of Canada.
Our proprietary server is located at a processing center Switch which gates POS transactions into the Regional ATM card networks.
4. Same-as-Cash follows the same pathway that the ATM card and PIN purchase of $50 worth of flowers at a flower shop follows. We are simply adapting the existing POS system to the Internet and moving away from virtual money.
5. The revenue stream comes from the merchant. This fee is stripped by the settlement bank at the time of transaction.
6. VISA and Master Card presently offer Debit transactions. These are Off Line ACH transactions, the same as checks and which can be stopped by the consumer. REG E of the USA Banking Rules clearly states that an ATM card with PIN POS transaction can not be stopped by the consumer... it is the same as cash. Only the merchant can stop the transaction, which is why every ATM card with PIN merchant, such as the flower shop, needs to be first sponsored by a bank is the Regional ATM card network. This rule applies globally.
The key is the PIN entry which has been assigned by the Issuing Bank that the consumer banks with. To enter a PIN, special terminals must be used which include DUKPT (Derived Unique Key Per Transaction).
To conclude: The Internet consumer uses her existing ATM card and PIN issued by the bank. Then by simply clicking the ePIN icon on the ACME Mortgage web site, she can then elect to either pay by enhanced credit card which is a lower merchant fee or by ATM card with
Speaking as a web merchant (theartauction.com) we will definitely incentivize the consumer to purchase art work using Cash, thank you very much. Our fee: $1
We are leading the pack.
More of Tom?s responses to Investor Pests :
Tom's Answers to Beaches questions:
via Matt to Manny to Tom!
1. Status of Pocket Pay in Ireland = on target, scheduled for December 1999. People in Ireland have requested results of beta testing before they commence.
2.ETandT will handle logistics (which will be discussed in the following questions)
3. Beach writes"in addition they were supposed to provide effective, efficient encrpyted financial transactions for the International Sportsbook and Gaming"
Tom replies, "Yes! This is going to operate in this manner: ET&T is in charge of the HOST which processes authorization of the transactions. These hosts will be in several countries. When the host authorizes the transaction (within seconds) the information is sent to the eConnect HUB which sends the authorization to the Merchant!
4. FTET is involved in beta testing, the deal did not go fall through. It is alive and well. All beta testing is covered under Manny's QUIET PERIOD.
5. SLICK is being produced. We are trying to meet the 4Q deadline BUT WE ARE FAR MORE CONCERNED ABOUT 100% ACCURACY THAN AN ARBITRARY DEADLINE.
6. Our Rogel is responsible for the M R S. We are using this software in the current Beta testing.
7. England and Hong Kong and even perhaps places like the Netherlands are very much in our plans ESPECIALLY IN THE MOVE TO STATE TAXATION OF LOTTERY AND THE HUMANITARIAN AID THAT CAN BE DERIVED FROM THAT. THIS PILOT PROGRAM WILL ALSO TAX WINNINGS ON WAGERS OPENING UP THIS AREA TO A FAR MORE CORDIAL POLITICAL RECEPTION. WE CALL THIS THE PERFECT WAGER. Manny will ask Mike Reamer to give periodic updates on 777WINS and eSportsbet. Here again we will be using the HOST to drive the transactions to the Hub, etc. All of this is in progress and part of the focused business plan of ECNC.
Tom Hughes - CEO
via manny vavolizza
Director of Wall Street and Investor Relations
Had to add this first class post by my buddy Ron M. from SI, when asked why he likes ECNC (he is a Trader first, investor second and T/A enthusiast):
I am now going to try and convey that to you from my perspective and understanding and that is all I have/can offer.
1st.) You asked what does triple wrapped mean?
Well that should be very simple to understand. It is encrypted 3 times over. Triple security.;-)))))
2end.) The 3 "Ws". We are the 3 Ws. We own the company that creates the software. But then you probably already knew that.
3erd.) We have are own servers.
4th.) We do are own processing.
5th.) We charge a flat fee for all transactions.
6th.) We have a patent on the tech..
7th.) We own the company that creates the software. They also generate their own revenue that goes into our treasury.
8th.) We have our own gaming site. Generates revenue.
9th.) We have a deal with the Irish Government and now it looks like the Australian one also.
10th.) Check out the credentials of the full time employees.
11th.) We have the competition hands down. We are self contained and that is what makes the difference.
Now I could go on and on but what is the point. These are just a few of the reasons that I am into this stock and haven't traded as yet, even when I had the opportunity to make a nice profit.
Now you stated in some of your previous posts that why go with us. The Master/Visa debt card is free and so are the transactions. Wrong. Nothing is for free. Someone pays for it. The merchant or the consumer. If you use your M/V card at the merchant, he has to pay between 2-3% of the total sale. Now that is off the gross sale. So what is better. A flat fee or a %. Common sense tells you a flat fee.
One of the questions that you ask is what path do we use. As far as I am concerned that is a mute issue. Who care and what difference does it make. Everyone has to use phone line, satalite, or the internet. So what difference does it make??????? If you check out one of the latest news release, we are now certified to use the ATM network.
Now if you check out one of our competitors MRTO. They have to make all kinds of deals to get their net work up. For them to work, they need everyone. They charge a percentage of the sale. For every hand that it passes they have to pay. Even they had to reduce their fee to get customers but it is still 2% of the sale. Go figure.;-))))
Well I could go on and on but I won't. Already have gone on longer then anyone wants to hear. You take it from here and make your own mind up.