This afternoon, MyECheck announced an agreement to facilitate the e-banking, e-wallet and debit card account on iCard1’s global e-banking and payment network.
iCard1, a leader in the private closed loop electronic banking and payment networks, will use MYEC to provide comprehensive account funding (Marketwired) for corporate, government and financial service card networks.
“This agreement with iCard1 to provide our exclusive capabilities demonstrates our commitment to partner with leading technology providers of high strategic value. We are very optimistic about the revenue prospects for this agreement and the additional opportunities created through this partnership.”
– Ed Starrs, CEO of MyECheck
What does the mean for MYEC? A couple days after it released positive earnings, MYEC is around 40% lower. This is most likely a sign of investors who got in very early, getting out and taking their exponential profits. There are still many members of the shareholder community who are in from the basement, for the long-haul. MyECheck has a great future ahead of it; especially since the major developments (marijuana sector) and deals (government sectors), are not supposed to be reflected until 3rd & 4th quarter results. Hereitfirst team members have used this drop to pick up shares at multiple entry points, and feel that MYEC should be back at the $0.07 per share mark in a short period of time. MyECheck is a long play with some potential short play benefits.
Rosenberg (OTC Daily)
Follow me on IG @otcdaily