Y3K Secure Entp Sftw (NASDAQ:YTHK)
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Y3K Delivers Customized Software Package to Consumer First
Software Aggregates Thousands of Businesses in National Shopping Network
SEATTLE, WA, Dec. 18 /PRNewswire-FirstCall/ -- Y3K Secure Enterprise Software,
Inc., (OTC/BB: YTHK), a leading provider of Secure Communication and Enterprise
Software Systems and Solutions, announced today the completion of its customized
MarketPortal software for Consumer First, a national financial services,
consumer marketing company with a nationwide network of merchants and
customers.
The custom MarketPortal software is part of a development and licensing
agreement that calls for Y3K to provide customized MarketPortal and Affiliate
Tracker software that will allow Consumer First to aggregate its thousands of
merchants in an online shopping network. According to the agreement, Y3K
receives an annual fee from every business that joins the network, plus a
percentage of all transaction fees. "The completion and operation of the
customized software for Consumer First means that we will begin to immediately
generate revenue," stated King Cole, President of Y3K. "Based on current growth
trends of Consumer First, this contract is projected to result in revenue of
$3.9 million dollars for Y3K over the course of 2004, with the potential for
$300,000 during the first quarter. This will prove to be a very lucrative
partnership for both companies."
"We are very pleased with the functionality of the Y3K software package," stated
Wayne Umbertis, Contracting Coordinator for Consumer First. "We enjoy a solid
working relationship with Y3K and we are confident that businesses and consumers
will respond very positively to this new mega shopping environment."
Y3K and the Consumer First Executive Team are now jointly developing a training
program for the rapidly growing 10,000 member national sales force. The sales
force will begin recruiting additional businesses for the Consumer First online
shopping portal at the start of 2004, and consumers will be able to shop in the
robust shopping environment shortly thereafter. The Consumer First model is an
historical first in which consumers receive direct benefits from the merchants
when they spend at any of the thousands of businesses within the national
network.
Consumer First has created an affiliation with both Visa and MasterCard and also
have their own Consumer First Card. Consumer First works with a number of major
affinity groups including national PTA, major universities and major credit
unions and their rapidly growing merchant base includes national major chains
such as Pep Boys and AAMCO. Consumer First has access to over 14 million credit
card holders, and has 10,000 member/distributors.
About Y3K Secure Enterprise Software (http://www.ythk.com/)
Founded in 1999, Y3K, Inc. initially started as a provider of Secure Internet
commerce software. Through its experience with both businesses and consumers,
Y3K has successfully made the transition to become a leading provider of secure
enterprise software. Y3K's main product is the FusionPak Suite, which includes
ICS (the most secure instant messaging (IM) system on the market today),
CommerceManager (a state-of-the-art Internet commerce engine), Market Portal, a
sophisticated business data management tool and other enterprise business
software applications.
About Consumer First (http://www.consumer1st.com/)
Consumer First is a national financial services and consumer marketing company.
Based in Ohio and Texas, Consumer First has developed a business model which
integrates breakthrough technology, consumer marketing and merchant marketing
fees to create true residual income for their Consumer Advocates and true
loyalty for participating merchants. Consumer First's customized software and
payment process enables them to offer refunds to consumers at participating
merchants nationwide when they use their existing Visa or Mastercard. It also
offers those same individuals the opportunity to become Consumer Advocates and
create residual income by enrolling other consumers to enjoy the benefits of
becoming a Consumer First customer. Billions of dollars of technological
developments have been merged to create an economic system that allows consumers
to have a vested interest in the success of the company and merchants; it is a
system that enables consumers to make money when they spend money. The Consumer
First Economy establishes a historical first.
This report includes "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934. The information in this news release includes certain
forward-looking statements that are based upon assumptions that in the future
may prove not to have been accurate and are subject to significant risks and
uncertainties, including statements as to the future performance of the company.
Although the company believes that the expectations reflected in its
forward-looking statements are reasonable, it can give no assurance that such
expectations or any of its forward-looking statements will prove to be correct.
Factors that could cause results to differ include, but are not limited to,
successful performance of internal plans, product development acceptance, and
the impact of competitive services and pricing and general economic risks and
uncertainties.
Y3K Secure Enterprise Software, Inc., Jennifer Stephens, (253) 284-2935, (YTHK)
DATASOURCE: Y3K Secure Enterprise Software, Inc.
CONTACT: Y3K Secure Enterprise Software, Inc., Jennifer Stephens,
253-284-2935, (YTHK)