Elayaway Inc (ELAY)

eLayaway, Inc. formerly known as Tedom Capital, Inc. is a Delaware corporation incorporated on December 26, 2006. On April 16, 2010, Tedom Capital, Inc. changed its name to eLayaway, Inc. The Company is an online payment processor specializing in a layaway service and other payment processing platforms for merchants and consumers. It also has several subsidiaries specializing in online malls, subscribed merchants, sports and entertainment ticket payment platforms, a travel payment platform, a health-related payment platform, and other avenues. The Company is changing its image and branding to DivvyTech, which specializes in various payment processing methods including, but not limited to, layaway. It currently has four divisions; Retail, Event Tickets, Travel, and Healthcare. Each is managed under their individual brands and web sites. DivvyTech's core function is to empower retailers and payment processors with an automated recurring payments administration system designed to manage layaway, leasing, micro-lending, layaway-credit hybrid programs and Automated Clearing House ('ACH') programs. The Company's DivvyTech Powered Brands include eLayaway.com, which is a payment processor that empowers merchants with the ability to easily and efficiently offer an automated layaway payment plan to both online and in-store customers ; Nuvida Payment Plan, which provides prepayment solutions for patients and healthcare facilities; Pay4Tix, which provides a prepaid ticket solution for both teams and fans; PrePayGetaway, which provides a prepayment solution for travel companies and consumers; PlanItPay consists of a community of registered member shoppers connecting online at eLayaway.com with affiliate merchants offering millions of consumer products and services; eApatado.com is the eLayaway.com platform recreated for Hispanic merchants and consumers. The Company's target merchants range from online retailers, brick and mortar retailers, sports teams, travel companies, service industries, and health providers. In addition to Internet companies, the Company faces competition from other merchant services and finance companies, including web service providers and from traditional point-of-sale (POS) equipment, software providers and systems already installed into operating merchants.