eTelcharge President David Young Addresses Company's Progress and Status Aug 3, 2006 11:50:00 AM DESOTO, TX -- (MARKET WIRE) -- 08/03/06 -- eTelcharge.com, Inc. (OTCBB: ETLC), www.etelcharge.com a financial diversified merchant services company, today announced that David Young, former Senior Director of Operations has fully assumed his appointment as President, effective August 1, 2006.
David Young takes over 32 years of experience with large incumbent carriers, competitive interchange and CLEC carriers along with engineering expertise assisting eTelcharge in reaching its immediate and long term objectives.
"eTelcharge has made tremendous strides from 2005 through today.
-- On the product end, Version 2.0 is 'complete' and is presently with merchants who are revamping their billing systems to accommodate the Company's alterative payment system allowing consumers to charge purchases to their home phone bill;
-- On the billing front, the company has signed a contract with a nationally recognized billing aggregator who will provide service to the southwest with plans of expansion into the Midwest and western regions of the country;
-- On the American Home Market merger: Final merger documents are presently with the Company's securities counsel, who will submit the required legal documents, including Form 14c, to the SEC for review.
-- On the traditional billing services division of eTelcharge, the Company has successfully launched merchant services with three municipalities and is moving ahead in that arena as well as the private sector, expecting to continue to close additional government and commercial contracts.
-- On the regulatory issues, the Company has regained listing on the Over- The-Counter Bulletin Board and is fully compliant," Young stated.
"As we move ahead, I will continue to foster client relationships as I did during my tenures at AT&T and Vartec Telcom, work to ensure that Version 2.0 meets merchant requirements and significantly grow that portion of our business model, utilize my engineering skills where required and continue to implement project and cost management systems," Young concluded.
Carl Sherman, CEO added, "The years 2005 and 2006 have been a well worthwhile struggle. The Company is in a position to prosper and bring long-term and long-awaited value to our valued shareholders. David's appointment provides me with a growing infrastructure and leadership to bring the Company to its full potential."
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