| Business Summary | | First
Ecom.Com
Inc.
facilitates
banks
and
their
merchants
with
electronic
payment
processing
of
e-commerce
transactions
over
the
Internet.
The
Company
has
developed
an
electronic
gateway
to
convert
consumers'
credit
card
information
collected
by
merchants
on
the
Internet
into
a
format
that
can
be
processed
by
banks.
The
Company
acts
as
a
payment
system
service
provider
between
banks,
online
merchants
and
consumers.
The
Company
charges
banks
service
fees
for
processing
transactions
through
this
gateway
on
their
behalf.
The
principal
geographic
area
wherein
the
Company
provides
its
services
is
throughout
Asia.
In
addition
to
facilitating
electronic
payment
processing,
the
Company
formerly
provided
systems
integration
services.
The
principal
geographic
area
wherein
these
services
were
provided
was
Hong
Kong
and
the
surrounding
region.
In
February
2001,
the
Company
decided
to
terminate
its
system
integration
business
and
focus
its
efforts
on
electronic
payment
processing. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FECC
provides
next
generation
electronic
payment
processing
solutions
to
financial
institutions
worldwide.
These
solutions
deliver
an
array
of
electronic
payment
features
such
as
credit
card
applications.
For
the
three
months
ended
3/31/01,
revenues
totalled
$13
thousand,
up
from
$5
thousand.
Net
loss
from
continuing
operations
fell
20%
to
$2
million.
Results
reflect
higher
processing
fees
income
and
lower
sales
and
marketing
expenses. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
24;
after
tax
earnings
were
-1,581. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Gregory Pek, 44 Chairman,
Acting Pres | $168K | Ken Telford CFO | -- | Ravi Daswani, 33 COO,
Director | 168K | Raymond Chan, 60 Exec.
VP of Marketing | -- | Mike Mahboobani, 41 Exec.
VP- Systems and Technology | -- | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|