Merger Progressing With Consummation Expected in Stated Time Frame of November 2005 With Company Outlining Plans to File Form 15c-211 for Re-listing on the Over-The-Counter Bulletin Board
DESOTO, TX, Oct 07, 2005 (MARKET WIRE via COMTEX) -- eTelcharge.com, Inc. (the "Company"), (OTC: ETLC), www.etelcharge.com a financial diversified merchant services company, today announced that the pending merger with The American Home Market Corporation, a privately held company that serves as a Certified Closing Agent for the United States Department of Housing and Urban Development generating in excess of $100,000,000 in revenues, is progressing and the previously announced closing time frame of November 2005 remains intact. The American Home Market Corporation has completed the certified audit of their financials and eTelcharge.com expects the audit of the Company's financials to be completed no later than October 17th, 2005. The completion of the audits are the final steps in the due diligence process to effectuate the consummation of the transaction.
The Company concurrently reported that upon consummation of the audit filings, it will immediately make request to file Form 15c-211 with the NASD for re-listing on the OTC Bulletin Board.
"The finalization of the audit and the pending merger represent a huge step forward for eTelcharge in reaching an extremely broad audience with a marketing infrastructure in place. Regaining our listing on the Over-The-Counter Bulletin Board as a fully reporting entity, should improve eTelcharge's market presence, while strengthening the strategic long-term plans of its unique alternative payment method," stated Carl Sherman, CEO.
"Additionally, with the addition of David Young, P.E., to the Company as Senior Director of Operations, we are making significant strides towards a product launch to be announced soon. We plan to update our shareholders and registered users in a teleconference in the not too distant future," Sherman concluded.
About eTelcharge.com
eTelcharge.com (OTC: ETLC) offers the traditional credit card merchant services, checks and other existing financial infrastructure offered by banks, as well as the proprietary new online currency that provides online shoppers the exclusive choice to charge items to their telephone bill. Designed to reduce the risk of identity fraud and identity theft by providing an Internet credit option for online shoppers to charge a number of items sold over the Internet. This payment option is a perfect match for the 70 million Americans who do not own a credit card. eTelcharge.com started as the only company with the ability to charge a variety of products to the home phone bill. Clearly, past electronic commerce solutions have not employed effective security and privacy techniques that adequately address consumer concerns about privacy and security on the Internet today. The release of the latest version of the proprietary phone billing option is scheduled to be launched soon. For more information, go to http://www.eTelcharge.com.
About The American Home Market Corporation
The American Home Market Corporation (AHM) and its subsidiaries are a Fee Office of Title Texas (Formerly Safeco Land Title of Dallas). We have assembled one of the most experienced commercial and residential closing teams in the State of Texas, if not the nation. The combined expertise of our escrow officers, in-house attorney closers, support legal staff and escrow support staff is unequaled in the business. A strong and widely diversified repeat customer base (individual, developer, lender, attorney) is a powerful testimony to our success. We are Certified Closing Agents for the United States Department of Housing and Urban Development (HUD) and as such we are the closing agents for any home sold by HUD in 42 counties throughout the State of Texas. With over $100,000.00 million in yearly revenues, we are strongly committed to providing the finest products and services available.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements involve a number of known and unknown risks and uncertainties that may cause eTelcharge.com, Inc. and actual results or outcomes to be materially different from those anticipated and discussed herein. These include its historical lack of profitability, limited working capital, the need for additional capital, end-use customers' acceptance of new products and actual demand, the need for eTelcharge.com, Inc. to manage its growth, and other risks associated.
( I started a new thread because the other titles no longer apply)
Posted by Chadsly on :
This could be a great play for the next month.
Posted by bmarley5780 on :
Chadsly- I don't understand your lingo?
Posted by Chadsly on :
*bump* is used to bring the thread to the top of the forum so that everyone can see it again. I said *my last bump* to say that I wasn't going to *bump* it anymore. I don't want to keep brining up a thread that no one is interested in.
ETLC has been moving all morning with great news. It seems to be having problems getting over .105.
Posted by cweston on :
Thanks Chadsly- I learn something new everyday.
-- The newly merged company would do business as eTelcharge.com, Inc. -- eTelcharge.com, Inc. will continue operations as a publicly traded corporation. -- AHM shareholders would receive an issuance 152 million shares of restricted common stock. With a two-year restriction on the stock, AHM intends to hold the stock. -- AHM would infuse $3 million in capital to assist in launching an effective advertising and marketing campaign for eTelcharge.com's new online currency Other material terms of the LOI are as follows: -- Former shareholders of AHM would have the right to appoint four directors to the Board of the new eTelcharge.com, Inc. -- Former board members of eTelcharge.com may continue to serve on the new board representing three members.
If all goes as planned etlc will have $3,000,000 provided to them to launch the new product in November.
Posted by smoky on :
News update of pending merger...
NEWS!!!
eTelcharge.com Provides Update of Status of Audited Financials Friday November 4, 9:30 am ET
Auditors to Complete All Requisite Financials by Friday, November 11 to Effectuate Relisting on the Over-the-Counter Bulletin Board
DESOTO, TX--(MARKET WIRE)--Nov 4, 2005 -- eTelcharge.com, Inc. (the "Company"), (Other OTC:ETLC.PK - News), www.etelcharge.com a financial diversified merchant services company, today announced that the Company's auditors have informed management that they will complete the filings of all outstanding financial statements by Friday, November 11th. The Company will then take action to file a Form 15c-211 with the NASD for re-listing on the Over-the-Counter Bulletin Board.
Delays in completing the audit occurred due to Hurricane Rita as the auditors reported a lack of access to their offices for a few days.
The merger with American Home Market Corporation is expected to be consummated shortly after the filing of the financial statements. The receipt of eTelCharge's audited financials represent the final steps in completing the due diligence process to close the transaction.
"Although we are disappointed in not meeting the dates set forth in the October 7th, 2005 press release, we are committed to regaining status on the Over-the-Counter Bulletin Board and to consummating the merger with American Home Market Corporation," stated Carl Sherman, CEO.
"American Home Market's sales infrastructure and ingenious marketing strategies, we contend, will bring significant value to our shareholders. Finally, the addition of David Young and the progress he has made in less than one month toward our goal of launching the eTelCharge alternative payment mechanism, in a world-class, merchant-accepted manner, are moving ahead with great momentum," Sherman concluded.
About eTelcharge.com
eTelcharge.com (Other OTC:ETLC.PK - News) offers the traditional credit card merchant services, checks and other existing financial infrastructure offered by banks, as well as the proprietary new online currency that provides online shoppers the exclusive choice to charge items to their telephone bill. Designed to reduce the risk of identity fraud and identity theft by providing an Internet credit option for online shoppers to charge a number of items sold over the Internet. This payment option is a perfect match for the 70 million Americans who do not own a credit card. eTelcharge.com started as the only company with the ability to charge a variety of products to the home phone bill. Clearly, past electronic commerce solutions have not employed effective security and privacy techniques that adequately address consumer concerns about privacy and security on the Internet today. The release of the latest version of the proprietary phone billing option is scheduled to be launched soon. For more information, go to http://www.eTelcharge.com. Posted by smoky on :
up 24% today
Posted by smoky on :
News!!!
eTelcharge.com Announces Listing on the Frankfurt Stock Exchange Ticker Symbol: ETLC
DESOTO, TX -- (MARKET WIRE) -- 11/09/05
eTelcharge.com, Inc. (the "Company") (OTC: ETLC)(Frankfurt: E1P.F), www.etelcharge.com, a financial diversified merchant services company, today announced that its shares have begun trading on the Frankfurt Stock Exchange, the world's third largest stock exchange just behind the NYSE and NASDAQ exchanges, under the symbol E1P.F and German securities code AOHFWF.
"Our listing on the Frankfurt stock exchange is in direct response to the growing European audience expressing interest in eTelcharge's alternative payment system. The world is well aware of internet fraud being on the rise and we proudly are taking this great opportunity to expand our shareholder base and increase visibility," stated Carl Sherman, CEO.
The timing could not be more serendipitous considering the pending merger with The American Home Market Corporation, which represents an immediate and huge audience, the Company's financial audit expected to be filed this week, which is another step closer to positioning the company to a filing of Form 15c211 for re-listing on the Over-the-Counter Bulletin Board," Sherman concluded.
Posted by matto on :
17% anyone else in this with me?
Posted by smoky on :
This looks like only the beginning of a decent run up of this stock. 3 major new events are expected soon. 1. merger with 100,000,000 company 2. Listing on OTC 3. Launch of the long awaited etelcharge payment method.
Posted by matto on :
OH YEA, This is going buy the house on the ocean if you buy enough shares!!
Posted by WarpedMind on :
I'll need to watch this one.
Posted by smoky on :
My shares won't buy an oceanhouse but it'll get me a shack by the lake.LOL
Posted by smoky on :
up 23.5%
Posted by Superbee383 on :
quote:Originally posted by matto: 17% anyone else in this with me?
Looks good to me by the news I read, so yes, I'm in this one too!
Posted by yourdiligence on :
I bought some ETLC...it does seem like other significant developments are forthcoming.
Posted by smoky on :
Great day today. Up 41% with todays news. Even better news on the horizon.
Posted by matto on :
I just came back and wow i have made money! O HAPPY DAY!!!
Posted by yourdiligence on :
Financial audit expected end of week--any longs here who can give better context to where we're at to this point with co? On other boards like RB; some claim this one has enough fuel to break 1.00 or higher medium or long-term. Curious if any here are of same OPINION???
Posted by matto on :
8% already lets see another 40% day before the prs!
Posted by smoky on :
New HOD!!! up 20% Posted by yourdiligence on :
GLTA tomorrow $$$
Posted by smoky on :
ETLC finishe audit. Next steps relist on OTC and complete merger.
DESOTO, TX, Nov 15, 2005 (MARKET WIRE via COMTEX) -- eTelcharge.com, Inc. (the "Company") (OTC: ETLC) www.etelcharge.com, a financial diversified merchant services company, today announced that the Company's auditors completed all financials necessary for the 10k audits, which positions the company closer to regaining listing on the Over-the-Counter Bulletin Board. The Company's legal counsel is reviewing the final audited financial statements and will then "Edgarize" them, making the annual filings complete. The Company is expected to file all quarterlies concerning 2005 in the coming days and then be fully prepared to file a Form 15c-211 with the NASD for re-listing on the Over-the-Counter Bulletin Board. "We thank our shareholders and the investment community for their patience throughout this arduous process. As we reach its end, we eagerly look forward to many new beginnings with re-listing on the OTC BB, finalization of the merger with the American Home Market and launch of our alternative payment product," stated Carl Sherman, CEO.
About American Home Market Corporation
American Home Market Corporation is a privately held company that serves as a Certified Closing Agent for the United States Department of Housing and Urban Development (HUD) generating in excess of $100,000,000 in revenues, is progressing and the previously announced closing time frame of November 2005 remains intact.
About eTelcharge.com
eTelcharge.com (OTC: ETLC) offers the traditional credit card merchant services, checks and other existing financial infrastructure offered by banks, as well as the proprietary new online currency that provides online shoppers the exclusive choice to charge items to their telephone bill. Designed to reduce the risk of identity fraud and identity theft by providing an Internet credit option for online shoppers to charge a number of items sold over the Internet. This payment option is a perfect match for the 70 million Americans who do not own a credit card. eTelcharge.com started as the only company with the ability to charge a variety of products to the home phone bill. Clearly, past electronic commerce solutions have not employed effective security and privacy techniques that adequately address consumer concerns about privacy and security on the Internet today. The release of the latest version of the proprietary phone billing option is scheduled to be launched soon. For more information, go to http://www.eTelcharge.com.
About The American Home Market Corporation
The American Home Market Corporation (AHM) and its subsidiaries are a Fee Office of Title Texas (Formerly Safeco Land Title of Dallas). We have assembled one of the most experienced commercial and residential closing teams in the State of Texas, if not the nation. The combined expertise of our escrow officers, in-house attorney closers, support legal staff and escrow support staff is unequaled in the business. A strong and widely diversified repeat customer base (individual, developer, lender, attorney) is a powerful testimony to our success. We are Certified Closing Agents for the United States Department of Housing and Urban Development (HUD) and as such we are the closing agents for any home sold by HUD in 42 counties throughout the State of Texas. With over $100,000.00 million dollars in yearly revenues, we are strongly committed to providing the finest products and services available.
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