DESOTO, Texas, Feb. 14, 2005 (PRIMEZONE) -- eTelcharge.com, Inc. (Pink Sheest:ETLC), www.etelcharge.com, today announced the Company's Board of Directors, in recognition of the loyalty exhibited by its existing shareholder base, has approved a 4:1 forward split of the Company's common stock. The stock split approved by the board is subject to shareholder approval and standard administrative actions with NASD. Once approved by shareholders, shareholders of record will receive 3 additional shares of common stock for every 1 share of common stock beneficially owned. A forthcoming press release stating the record date will then be announced.
The Board deemed it prudent and essential to take this step to thank their loyal shareholder base as the Company now embarks on aggressive efforts to execute its strategic growth initiatives and create national awareness for its proprietary technology and, for the first time in history, a credit vehicle that will serve the largest percentage of the U.S. population.
eTelcharge.com President & CEO Carl O. Sherman stated, "Over the past year, we have experienced solid gains and are pleased to share this success with our shareholders. It is the intent of our management team to maximize shareholder value." He added, "We are optimistic about eTelcharge's future outlook and growth opportunities." Clearly cognizant that obtaining credit is a major obstacle to many consumers attempting to make purchases, eTelcharge, through this forward thinking action, also is attempting to create awareness of the power of one's telephone. Consumers will soon be empowered and provided the ability to purchase with a mechanism they already have in place -- their telephone bill.
About eTelcharge.com
eTelcharge.com, Inc. (ETLC) offers the traditional credit card merchant services, checks and other existing financial infrastructure of banks along with 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 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 is currently the only company with the ability to charge a category 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 first quarter 2005. For more information, go to http://www.eTelcharge.com
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, the need for additional capital, end-use customers' acceptance of new products and actual demand, which may differ significantly from expectance of new products and actual demand, which may differ significantly from expectations, the need for eTelcharge.com, Inc. to manage its growth, and other risks associated.