SoftNet Technology Corporation (OTCBB: STTC)

StockUpTicks has been following the tremendous progress of SoftNet Technology (OTCBB: STTC) since October of last year when it was trading light volume at 4 cents a share.  We've  watched carefully as the company has continued to execute its business plan like clockwork.  The CEO, Jim Farinella is part shrewd businessman and part cheerleader.  His and drive and enthusiasm is a rarity among small public companies.  We continue to be impressed with SoftNet's growth and expansion and we don't want you to miss out on this great story in the making!  So here is another piece of compelling news from the hottest stock we've covered in some time, SoftNet Technology.  This news, yet again, details the company's increased sales efforts and continued growth.  Please read on...
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**BREAKING** News From SoftNet Technology

Press Release 
Source: SoftNet Technology Corp.
Monday January 31, 3:00 pm ET

BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Jan. 31, 2005--SoftNet Technology (OTCBB Symbol: STTC - News; German WKN#: A0B7RZ) announced today that WholesaleByUs (WBU) expanded product distribution to www.bizrate.com. On Thursday of last week, the CEO purchased an additional 38,300 shares as high as $.22 a share. He has now purchased about 100,000 shares in the month of January.

BizRate.com has developed one of the most powerful shopping search engines known as shopzilla. This shopping search engine directs buyers to a list of vendors and products that a consumer is looking for. Then the consumer makes his/her purchase directly from a vendor's shopping site. BizRate makes money by charging for each click through to the vendor's shopping site. WBU has experienced a very high amount of traffic in just the few days that WBU has been listing through BizRate.

Sales in the past week have begun to expand at an accelerated rate. It has been about 30 days since the aggressive expansion to new portals began in late December 2004. It normally takes 30 to 45 days to see a jump in sales after certain portals and new products are added. It also now appears that WBU's 1st quarter 2005 revenues will surpass 4th quarter 2004 holiday revenues.

Revenues should continue to increase at a quickened pace, in the coming months from all the new portals that were added in the past month. Then an additional increase in revenue should be realized as TVA Productions starts the Marketing Blitz in the coming weeks for SoftNet Technology. New additions and adjustments to the WBU website will also contribute to the growth. More products are expected to be added in the coming months as well.

"The same things that I began to see happening in October and November for WBU are now happening again but on a much larger scale," stated Mr. James M. Farinella, CEO/President of SoftNet Technology. "We have expanded our operations at a tremendous rate. I continue to see more and more potential for the future of SoftNet Technology and our subsidiaries."

Please visit our website at www.softnettechnologycorp.com for more information or call the company directly at 866-898-4842 (local - 908-204-9911).

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.

Contact:
          SoftNet Technology
          James M. Farinella
          (866) 898-4842
          local: (908) 204-9911
         www.softnettechnology.com

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Source: SoftNet Technology Corp.
 

About SoftNet Technology Corporation

SoftNet Technology has two wholly-owned subsidiaries - Solutions Technology and WholesaleByUs. 

Solutions Technology’s SecureTime® software application offers a complete Biometric turnkey program for a small or mid-sized company that needs to collect time and attendance, scheduling, entitlements, and personal/pay records. With a seamless interface to payroll services, it provides the client with one of the most cohesive time and attendance management systems available anywhere. The software also secures critical work areas and high rise office buildings by  positively identifying employees and workers, and the program works in tandem with doorlocks and surveillance cameras to prevent any unauthorized access. 

SoftNet Technology's WholesaleByUs Web site is an actual operating demonstration of the Company's proprietary search engine software.  SoftNet is bringing its search engine to online retailers that want dynamic processes on their Web site instead of the ordinary static pages currently in use by so many sellers and resellers. 

Other Recent News from SoftNet

aaPress Release Source: SoftNet Technology
Press Release 
Source: SoftNet Technology
Wednesday January 26, 9:30 am ET

BERNARDSVILLE, N.J., Jan. 26, 2005 (PRIMEZONE) -- SoftNet Technology (OTC BB:STTC.OB - News) (German WKN:A0B7RZ) today announces that the German Subsidiary Holtermann & Team GmbH has officially changed its name to SoftNet International GmbH and begins large-scale setup of sales for suppliers of products from Europe. Additionally, SoftNet International changes its fiscal year-end from March 31 to December 31 to be consistent with the whole company.

WBU is in the process of finalizing arrangements with several major European manufacturers and suppliers for distribution of products from Europe to Europe. More than 150,000 products will be sold through SoftNet International from just the few suppliers that the German subsidiary is finalizing sales agreements with. These sales will be run through the Frankfurt based Subsidiary from a fulfillment center based in Frankfurt, Germany.

This expansion will greatly enhance sales well beyond the products that are currently being sold to Europe from the USA. Eventually, these European based products will be added into the WBU System here in the United States to provide a larger and better variety of products for sale World Wide through WBU. A start date for actual sales to be realized for the European based suppliers is expected in the next few weeks.

A new website is being developed for SoftNet International GmbH. The new website will be translated into several different languages and posted in several different countries. SoftNet is working diligently in preparing the year-end financials. It is now expected that the 10K filing will be completed sometime in February due to the acquisition of WBU and the German subsidiary this past year and this being the first audits ever performed on these two new subsidiaries.

Please visit our website at http://www.softnettechnology.com for more information or call the company directly at 866-898-4842 (local - 908-204-9911).

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.

Contact:

     SoftNet Technology
     James Farinella, 866-898-4842/908-204-9911
    www.softnettechnology.com

Source: SoftNet Technology
 

Financial Highlights For SoftNet

To Contact SoftNet Technology

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