Business & Finance
Wed, July 22, 2009Tue, July 21, 2009Mon, July 20, 2009Fri, July 17, 2009Thu, July 16, 2009Wed, July 15, 2009Tue, July 14, 2009Mon, July 13, 2009Sun, July 12, 2009Fri, July 10, 2009Thu, July 9, 2009Wed, July 8, 2009Tue, July 7, 2009Mon, July 6, 2009Sun, July 5, 2009Fri, July 3, 2009Thu, July 2, 2009Wed, July 1, 2009MyECheck Inc.: MyECheck Reaches Profitability in Unaudited Second Quarter Financial Results
Published in Business and Finance on Tuesday, July 14th 2009 at 7:11 GMT, Last Modified on 2009-07-14 07:11:37 by Market Wire
EL DORADO HILLS, CA--(Marketwire - July 14, 2009) - MyECheck Inc. (
Management notes that revenue in the second quarter does not yet reflect most of the larger clients signed in the past several months that are expected to start generating revenue for the company in the third quarter of 2009.
California State Teachers Retirement Fund (CalSTRS), Simon Property Group, Regal Entertainment and Simplifile are expected to start revenue generation for the company in the third quarter.
Additionally, the company states that it has a significant number of large revenue potential accounts in the sales pipeline that it believes will close and will add additional significant revenue before the end of the year.
Edward Starrs, CEO of MyECheck, commented, "We have reached a very important milestone in the evolution of our company whereby we are now operating at a profit. Because of our low overhead and extraordinary economies of scale, we believe that we will continue to be increasingly profitable well into the foreseeable future."
Mr. Starrs added, "Unlike other alternative payment providers that only operate in the approximately $100 billion e-commerce space, MyECheck operates in the $44 trillion check industry, offering services with benefits for all businesses and entities that accept payments. In fact, MyECheck provides services where no other payment option is viable, such as large value transactions, micro-payments, business to business, consumer to government and government to government in addition to consumer to business transactions."
The company notes that the numbers contained in this release are unaudited, and are made in good faith and based on all the financial information available to the company today. Further, past financial business, operations and stock performance are not necessarily indicative of the company's future performance. Full second quarter financial results with be filed with the SEC prior to the deadline of August 15.
About MyECheck
MyECheck Inc. is a leading electronic transaction processor and provider of alternative payment solutions to credit cards for brick & mortar, internet, and mobile commerce. MyECheck utilizes a patented method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and cost effective payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck provides merchants with financial access to more customers than any other payment method.
Please visit [ www.myecheck.com ] and follow us on Twitter at [ http://twitter.com/MyECheck ]
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of mentioned products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in reports filed with the Securities and Exchange Commission
