BERNARDSVILLE, N.J., Nov. 9, 2004 (PRIMEZONE) -- SoftNet Technology (OTCBB:STTC) (German WKN#: A0B7RZ) announced today that WholesaleByUs, LLC (WBU) again increased sales projections. The Company recently projected sales at $75,000 for November. These projections have now been increased approximately 46% to $110,000. SoftNet Technology Corp is now expected to generate more revenue in the 4th quarter of this year than the Company has ever generated in a single year.
Last week, WBU reconstructed some of the software and technology used in placing other companies' products on Amazon.com and EBay.com. By revamping the pricing and categorizing features of the technology, WBU dramatically increased sales. If sales just hold constant through the month, WBU will easily meet the new target of $110,000. However, it is expected that sales should increase as the month progresses. If daily sales do increase as expected, then another upward revision will be made.
It is also possible that November sales could reach the initial projections STTC had set for December of $150,000. With this current increase in sales estimates, SoftNet Technology will shortly announce an increase in December projections. Based on this first increase in sales estimates, it is now expected that STTC will generate more than $350,000 in revenue for the 4th quarter of this year.
WBU is also looking to increase the product offering on the current portals of Amazon.com and EBay.com. If this occurs, then sales estimates may also be increased as well. Additionally, expansion to a third portal is also a possibility this month. Again, if this occurs, then it should also lead to an increase in estimates. STTC management has easily handled this meteoric growth to date and will continue to keep a focus on proper management of the sales increases so as to maximize revenue going into and through 2005.
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.