STTC -- SoftNet Technology Corp.
Class A Com ($0.001)
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SoftNet Technology Subsidiary, Wholesalebyus, Completes Initial Expansion To 11 Different Countries In Europe
BERNARDSVILLE, N.J., Jan 11, 2005 (BUSINESS WIRE) -- SoftNet Technology (OTCBB Symbol: STTC) (German WKN#:
A0B7RZ) today announces the expansion of Wholesalebyus (WBU) to the European Market. The WBU System was initially turned live Monday Morning and was set for sales to begin today. Shipping of all products will be done through DHL Express.
The 11 Countries in and around the European Community that sales have begun include: The Untied Kingdom, Spain, Sweden, Switzerland, Netherlands, Italy, Ireland, Germany, France, Belgium and Austria. The initial postings of products will be through the EBay URL for each Country - Such as ebay.de for the German market and EBay.it for Italy. The expansion was much quicker and to many more countries than previously anticipated due to the technology and procedure changes made in December 2004. In time, sales will be expanded beyond the EBay portals in Europe to the Yahoo portals as well.
While there was a dip in daily sales while the new technology and procedures were being implemented in the past three weeks, current and future sales will be much larger and at much higher profit margins than originally thought possible. With the new personnel that was recently hired by WBU and with the advanced technology that was added, STTC should not only meet, but also easily surpass the $6,000,000 in projected sales for 2005.
" By not waiting and implementing the new technology changes in the middle of December, we should completely blow away our sales projections of $6 million for 2005," said Mr. James M. Farinella, CEO/President of SoftNet Technology. " The 4th quarter ended up being more important to us because of all the things we learned about how to maximize sales and profitability going forward. The last 3 months of 2004 will pale in comparison to the growth that will be realized in the coming year."
Please visit our website at www.softnettechnology.com for more information or call the company directly at 866-898-4842 (local - 908-204-9911) James M. Farinella, CEO.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp (STTC) may differ materially from these statements due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
SOURCE: SoftNet Technology
CONTACT: SoftNet Technology
James M. Farinella, 866-898-4842
Local: 908-204-9911
www.softnettechnology.com