In the company’s news yesterday,
MyECheck reported its Q3 2008 financial results for the period of July 1, 2008 through September 30, 2008. Revenues for this quarter totaled $156,174 compared to $110,805 for Q2 2008, which is an increase of 41%. Revenues for the nine months ended September 30, 2008 skyrocketed to $325,892 from $4,771 for the same period in 2007.
According to the press release, the growth in transaction processing volume and revenue is accelerating as more processors and merchants subscribe to the MyECheck system. Management anticipates that this trend will continue and is preparing by expanding processing capacity and speed.
CEO of MyECheck, Ed Starrs, stated, “We reached a major milestone this quarter by processing almost $30 million dollars for the three month period ending September 30th, 2008, as compared to $22 million for the first two quarters of 2008. Our software is proving itself as we continue to increase output for our clients and their customers.”
“We added a number of new clients during the Third Quarter, and are now starting to capitalize on results as they go live on our software. We expect to see more positive results from existing clients during the next quarter, and our sales team continues to build our MyECheck brand across a number of industries and businesses,” Mr. Starrs continued.
About QualityStocks
QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 500,000+ subscribers that receive The Daily Stock Newsletters.
To sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net
Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
