Electronic micro-payments company CyberCash Inc had a busy first quarter. It acquired ICVerify Inc, raised $15m in equity capital and launched the third version of its core CashRegister product. Net losses for the quarter were $5.7m, or 53 cents per share, four cents outside First call’s average estimate. Revenues were up to $1.1m, from just $155,395 in the previous year’s quarter. The company recorded two million transactions in the quarter, up from 1.5 million the previous quarter and 260,000 in the first quarter last year. Also during the quarter the Reston, Virginia company and NCR Corp got together to enable consumers to pay telephone bills using CyberCash’s PayNow electronic checking and NCR’s SmartEC Billing Plus. Cash and equivalents stood at $31.4m on March 31 and the ICVerify acquisition closed April 30.
