DESOTO, Texas, Aug. 16, 2005 (PRIMEZONE) -- eTelcharge.com (Pink Sheets:ETLC), www.etelcharge.com, a financial diversified merchant service company, today announced it has retained Joanna Hoover, a consultant with extensive financial and securities filings experience to assist the company with preparation of financial statements. Ms. Hoover will have the responsibility of coordinating the accounting activities with regards to presenting to the accounting firm of Malone & Bailey, PC the independent auditor retained earlier by the company.
Ms. Hoover is a certified public accountant who renders service to assist publicly held companies with preparation of financial statements. Ms. Hoover prepares the following SEC filings for publicly traded companies: Forms 10-Q and 10-QSB, Forms 10-K and 10-KSB, Forms S-1 and S-8, Form 12b-25, Form 8-K and Schedules 14A and 14C. In addition, she monitors administrative and regulatory issues and corporate compliance with regards to SEC rules and regulations.
"The engagement of Joanna Hoover is an important component of our efforts to achieve full compliance of all filings within an aggressive time line," stated, Carl O. Sherman, President and CEO of eTelcharge.com. "Upon the conclusion of filing such audited financials, the Company will take measures to regain OTC listing with the goal of improving shareholder value."
About eTelcharge.com
eTelcharge.com (Pink Sheets:ETLC) offers the traditional credit card merchant services, checks and other existing financial infrastructure offered by banks, as well as 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 a number of 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 started as the only company with the ability to charge a variety 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 summer 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, limited working capital, the need for additional capital, end-use customers' acceptance of new products and actual demand, the need for eTelcharge.com, Inc. to manage its growth, and other risks associated.