KISSIMMEE, Fla., Sept. 3, 2002 (PRIMEZONE) -- MarketBeasts.com LLC is pleased to announce upcoming Products and Subscription Model Changes that will be added to the Investors' Data and Research Tool Suite at the MarketBeasts.com site.
MarketBeasts.com LLC is nearing completion of key contracts required to provide Investor Customers with as complete and timely a data, research and information source as can be found on the Internet. Key contracts are nearing completion at this time to provide MarketBeasts.com with full market quote coverage including Level II in addition to detailed SEC filing data consisting of all SEC filings, advanced search and alert capability, easy to read financial data on all companies required to file with the SEC, institutional trading and insider trading data. MarketBeasts.com is separately working on a news feature to provide customers with real-time streaming news in the near future.
In the interest of ensuring data reaches its member customers at the same time it reaches the markets, MarketBeasts.com is typically finding that the associated contracts require substantial capital commitments and this is, in part, one cause for the delay in implementing these new services. MarketBeasts.com is unwilling to enter into new contractual obligations until financial assessment and needs are researched and can reasonably be expected to be met without breaching the trust of the company's contractual partners and, most importantly, breaching the trust of its customers. MarketBeasts.com business plan reflects the firm's commitment to fiscal responsibility. "Far too many DOT COM companies have over-extended themselves in the past leaving their contractors and their customers holding the bag," said K. Scott Piel, cofounder of MarketBeasts.com. MarketBeasts.com LLC refuses to assume an unmanageable debt load.
As research and contract negotiations have progressed, MarketBeasts.com has found both the business plan and budget required modifications to encompass these new services. To date, MarketBeasts.com services were offered as an a la carte suite of options. MarketBeasts.com has changed from a service-offering model to a single-subscription model. MarketBeasts.com management strongly believes that current and future customers will be very pleased with the change. Over the course of this week, MarketBeasts.com premium services will be combined into a single, all-inclusive, premium package for one flat rate: $39.95 per month plus exchange fees for those markets in which a customer desires real-time quotes.
"This new price structure will make MarketBeasts.com one of the most affordable data/information/research sources available on the Internet for non-professional Investors," said Jeffrey L. Harrison, cofounder of MarketBeasts.com.
For one flat fee, plus exchange fees for individually selected markets, MarketBeasts.com customers will receive real-time Level I and Level II, streaming news, financial research, SEC filings and alerts, insider trading stats, institutional trading stats, charting, technical analysis and stock screening in addition to planned free services such as message boards, stock picking contests, virtual trading and investor education.
Having addressed the revenue model changes, the second part of the equation is implementation of MarketBeasts.com capitalization strategy. To that end, MarketBeasts.com LLC has entered into negotiations with an as-yet unnamed third-party to take the company public. Further news will be released to update the firm's customers and the marketplace on this endeavor as soon as a definitive agreement has been signed and approved for release by respective attorneys.
Through the ongoing capitalization efforts, MarketBeasts.com anticipates being able to achieve both the goal of attaining public trading status and funding the contracts required to complete service offerings within the next sixty to ninety days. As the firm obtains the required capitalization to meet the fiscal obligations of each negotiated contract, MarketBeasts.com will execute the necessary agreements, implement the associated services and notify its membership customers regarding each new service.
Members who have already subscribed to services at MarketBeasts.com that have questions about how their subscriptions will be affected by the change in the service pricing are welcome to contact MarketBeasts.com by e-mail at support@MarketBeasts.com or by phone at 321-697-0552. MarketBeats.com marketing professionals will be happy to explain the plans for converting current customer's subscriptions and work out a timely solution, customized if necessary.
About MarketBeasts.com LLC
MarketBeasts.com LLC, headquartered in Central Florida, operates an on-line data and information service at http://www.MarketBeasts.com targeted specifically to non-professional investors. The company was founded by Scott Piel, a Networking and Software Engineer with over twenty years experience, and, Jeffrey L. Harrison, a Graphics Design, Advertising and Marketing Specialist with over thirty years experience, both active investors. The company's principal goal is to close the information gap that exists between professional and non-professional investors at a competitive price. Membership at the MarketBeasts.com is free and without hidden costs, offering both free and subscription-based services. For additional information, contact MarketBeasts.com Customer Service at 503-325-9282.
Safe Harbor Statement
Except for the historical information contained herein, the statements in this press release are `forward-looking' statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.