BERNARDSVILLE, N.J., Oct. 18, 2004 (PRIMEZONE) -- SoftNet Technology (OTCBB:STTC) (German WKN#: A0B7RZ) announced today that WholesaleByUs, LLC (WBU) experienced a dramatic increase in sales in just the first week on Amazon.com with 4,400 products for sale. Now, WBU took a further leap forward as a company by increasing the number of products for sale on Amazon.com to over 10,000.
Just over a month ago, STTC's new wholly owned subsidiary, Wholesalebyus.com was offering only 150 products for sale on eBay.com. In just one short month, WBU has expanded its ability to provide increased exposure for other companies' products on the Internet to Amazon.com and eBay.com. Now, the product offering has increased over 6600% to more than 10,000 products. The genius displayed by the WBU management is not just in increasing the product offering, but increasing it at no additional cost to the companies that supply the product for sale through the WBU system.
In just the past week, with the increase to 4,400 new products offered for sale, daily revenue increased a dramatic 200%. This means that revenues for STTC will increase more than 150% in the month of October, even though more than one third of the month had passed before the increase in products was offered. However, a revenue explosion with even higher sales figures should be expected now that the product offering has been increased to over 10,000 products.
"We have the ability to provide suppliers, manufacturers, retail stores and the like an ability to exponentially expand the visibility and awareness for their products," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "Even more amazing is the fact that we increase the offering of products and improve pricing for the customer at the same time. There is no other way than to describe our technology as an engine for economic growth."
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.