eTelcharge.com, Inc. (ETLC.OB) is a Texas-based company that provides secure payment options. Etelcharge is the first Web 2.0 payment application which leverages the convergence of landline telephony to broadband. Etelcharge’s secure online payment system gives online members the ability to charge their online purchases directly to their phone bill. Etelcharge is a great tool for online merchants as it allows them to accept purchases from customers who do not have credit cards or banking relationships.
On June 17, 2008 Etelcharge announced a definitive agreement to acquire PaymentOne. The acquisition is targeted to close in July or August of 2008 if approved by the US Bankruptcy Court for the Northern District of California. PaymentOne’s majority shareholder is The Billing Resource , which has filed for Chapter 11 bankruptcy. The transaction value is approximately $13 million, along with the exchange of some Etelcharge stock options.
With the acquisition of PaymentOne, Etelcharge gets a company that has billed over $2.5 billion in client transactions through telco billings. PaymentOne also had annualized revenues of approximately $13 million. This acquisition now gives Etelcharge nationwide telco coverage and access to over 50 million subscribers. Etelcharge’s chairman and CEO Rob Howe stated, “By combining our new Etelchage 3.0’s Electronic Gift Cards and Social Networking with this acquisition, Etelcharge will have established the most versatile and powerful bill-through-phone-bill platform in the US.”
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Essential Innovations Technology Corp. (ESIV.OB) is engaged in manufacturing, installing, and distributing GeoExchange heat products and technology. The company is known for providing their cutting-edge, GeoExchange solutions for commercial, industrial, and residential uses. Essential Innovations is headquartered in Bellington, Washington, with services available in North America, Asia and western Canada.
Essential Innovation’s proprietary GeoExchange System is a highly efficient, eco-friendly system used to provide heating, cooling, dehumidification, and domestic hot water production. The system utilizes the earth’s clean and renewable thermal energy, stored below the Earth’s surface or in large bodies of water, to exchange natural heating and cooling properties between the ground and a building. Essentially, the energy captured is free energy provided by the earth.
Essential Innovations is focused on developing synergistic relationships and alliances within the industry. The company is working toward executing product licensing and distribution agreements for their EI Elemental GeoExchange system as well as enhancing the core technology. Expansion of operations, increasing manufacturing and human resources, and securing local area projects are elements in the company’s realm of focus. Essential Innovations is also focused on the pursuit of mergers and acquisitions that will strengthen their geothermal business. The company operates through its subsidiaries, Pacific Geoexchange, Inc., Essential Innovations Asia Ltd., Essential Innovations, Inc. (Canada), and Earth Source Energy, Inc.
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