El Dorado Hills, CA, November 7, 2008 // MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce its unaudited revenues for the month of October 2008.
Revenues recorded up over 65.9% month-to-month
The Company recorded revenues of $99,310.18 for the period October 2008, which is 65.9% over revenues of $59,837.51 for the period of September 2008.
Dollars processed up over 45% month-to-month
The Company processed over 394,000 transactions totaling over $17.87 million dollars for the period of October 2008, as compared to 236,253 transactions totaling $12.10 million dollars for the period of September 2008.
Company reaches positive cash flow
This month, a major milestone was achieved when the Company reached positive cash flow numbers for the month of October 2008. Significantly, the scalability of the operations and software allow for MyECheck to grow significantly while maintaining low overhead costs.
Edward Starrs, CEO of MyECheck, stated, “We are extremely pleased to have reached positive monthly cash flow in our first year of operations on our new software platform. Online e-check acceptance is catching on with web retailers because they enjoy the added advantages of real-time check verification, decreased non-sufficient funds checks costs and not having to wait for mailed checks.”
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.
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. | 
