BERNARDSVILLE, N.J., Oct. 7, 2004 (PRIMEZONE) -- SoftNet Technology (OTCBB:STTC) announced today that WholesaleByUs, LLC (WBU) has generated approximately $75,000 in sales in the 3rd quarter. Additionally, it is expected that WBU will show growth of more than 200% in the fourth quarter with revenues expected to reach $250,000.
Monthly revenue is expected to increase approximately more than 600% according to WBU's President of operations. Monthly sales are to jump from about $25,000 per month in the 3rd quarter that just ended, to $150,000 in December of this year. WBU expects sales to not only increase, but to expand going into and through fiscal year 2005. New product lines are currently being set up for sale on the WBU website as well as through the WBU network of Portals (eBay). Additionally, STTC is now making available to WBU additional staff to help manage and grow the sales.
Just this week, WBU completed the move to a new facility. While this move has taken about 45 days to complete and has somewhat muted 3rd quarter results, it will now allow for the rapid expansion of sales into and through the 4th quarter. The Christmas season will be very strong for the company. However, it is expected that the months following the Christmas Season will not experience the usual drop off in sales typically seen. This is due to an enormous amount of new products that will be brought to the WBU distribution channels in 2005.
WBU President sees sales reaching $500,000 a month in 2005 in the USA alone. However, immediate expansion to Countries in Europe and other lucrative markets is in the process of being setup and sales through these new web portals is expected to occur in the near future. Please visit www.wholesalebyus.com to get a better feel for the company.
In the short existence of one year, WBU has been able to reach the Platinum seller status on EBAY and is close to reaching the highest level -- Titanium. WBU has been able to achieve and maintain a 99.5% satisfaction feedback rate or higher on eBay. The shopping cart created by WBU has integrated a back end system to process orders, inventory, Purchase ordering system, sales tracking and an email system.
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 statement 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.