Dutton Associates Announces Investment Opinion: MyECheck In Initiating Coverage At Neutral Rating With Review For Upgrade By Dutton Associates.
Dutton Associates initiates coverage of MyECheck (OTCBB: MYEC) with a rating of Neutral and on review for upgrade. The 16-page report by Dutton senior analyst Richard W. West, CFA is available at www.duttonassociates.com as well as from First Call, Bloomberg Professional, Capital IQ, FactSet, and other leading financial portals.
MyECheck is a company in an early-development stage, and is aggressively addressing opportunities presented by the recent passage of the Check Clearing for the 21st Century Act (Check 21). MyECheck has the patented technology and internal and external infrastructure to become a major force in the new Internet-based Check 21 payment process and has signed up an impressive cadre of alliances with Internet payment gateways, payments software and service providers for partnership, and reseller opportunities. MyECheck also is in the process of signing up commercial accounts whose customers will have the opportunity to utilize the MyECheck payment option. This report will describe and discuss the Company, the scope of the market addressed, the existing competition, and the major possibilities that lie ahead, and assess the positive and negative factors of MyECheck. Since this early-development company has minimal revenue and badly needs financing, and is now carrying a high market valuation vis-à-vis its revenue base, we are beginning research coverage with a Neutral Rating. We look forward to MyECheck reporting increased revenue and addressing its capital needs. As these events transpire, we will review and adjust our Neutral rating accordingly.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 senior analysts are primarily CFAs®, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 120 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. We received $35,000 from the Company for 4 quarterly Research Reports with coverage commencing on 10/14/2008. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
Source: Business Wire (October 14, 2008 - 11:19 AM EDT)
About MyECheck
MyECheck Inc. is a leading provider of comprehensive alternative payment solutions to credit cards for brick & mortar, internet, and intranet commerce. MyECheck utilizes a proprietary method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and convenient payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck's patented RCC solution provides merchants with financial access to more consumers than any other single payment method, allowing the fastest, safest and most convenient way to process electronic payments from customers.
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. |
