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SoftNet
Technology Corporation (OTCBB: STTC) |
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Dear Reader,
Last week, we reported to our database of 1 million investors that
STTC CEO Jim Farinella had purchased 767,000 shares, executing a
buy back. >From the moment we mailed our piece the stock rose
from .05 to a high of .08 on monster volume. Quick math: That’s
a 60% rise!
Well, he did it again yesterday, purchasing 60,000 shares in the
open market between $.067 and $.072 bringing his total purchases
to 827,000 shares. This is the 5th time in less than two months
that the CEO of STTC has purchased shares of his company, an unusual
feat indeed. Perhaps more interesting, the CEO has made it
clear that he intends to purchase up to 1,000,000 shares.
Take a look at today’s announcement below and shoot us an email.
We’d like to know your thoughts on STTC and why so many of our readers
are so interested in this company.
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Today's BREAKING
News From SoftNet Technology |
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Press Release
Source: SoftNet Technology
Corp.
Tuesday October 19,
2:45 pm ET
SoftNet Technology's
CEO/President Purchases 827,000 Shares of STTC in the Open Market
BERNARDSVILLE, N.J., Oct. 19,
2004 (PRIMEZONE) -- SoftNet Technology (OTC BB:STTC.OB - News)
(German WKN#:A0B7RZ) announced today that the President and CEO
has now purchased 827,000 shares of STTC in the open market in the
past 60 days. The Company's CEO purchased 60,000 of the more than
825,000 shares on October 18, 2004.
The purchases by the CEO yesterday
were completed between $.067 and $.072. This now marks the 5th time
in less than two months that the CEO of STTC has purchased shares
in the open market. Even though the President/CEO has already acquired
such a large position, he has made it clear that he intends to purchase
up to 1,000,000 shares.
The CEO just returned from Europe
and informed management that the opportunities to expand the Wholesalebyus
(WBU) model to the European Community should provide a significant
upward impact on the overall sales of the Company heading into 2005.
The interest by distributors, suppliers and numerous marketing firms
for STTC's Internet distribution capabilities is very strong. Capital
requirements to expand operations to Europe will not be a factor
allowing for a quickened pace in implementing operations through
STTC's German Subsidiary.
"I imagined special things for
Softnet Technology back in August when we acquired WBU," said Mr.
James M. Farinella, CEO/President of SoftNet Technology. "I had
really foreseen tremendous growth. But nothing like I now expect
due to the expansion plans in Germany and the Rest of Europe. The
Holiday season this year is really going to be a magical one for
sure."
Four Form 4's have been filed
as required with the SEC and can be viewed by going to the Company's
website http://www.softnettechnology.com.
Then click on the link for SEC Filings. It should be noted that
purchases were made from as low as 1.9 cents to as high as 7.2 cents.
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 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
--------------------------------------------------------------------------------
Source: SoftNet Technology
Corp.
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About
SoftNet Technology Corporation |
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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.
**Our October
13 Profile on STTC can be viewed HERE**
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Financial Highlights For SoftNet |
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aa
Avg Vol (3m): 842,610
Fiscal Year End: 12-31
Industry: Computers-Hardware
Transfer Agent: Interwest Transfer Co
250,000,000 shares authorized
62,900,736 shares outstanding |
To view the latest SEC filings for STTC - the link is
Here
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To Contact SoftNet Technology |
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Headquarters
James M. Farinella, CEO/PR/CB
1 Anderson Road, Suite 105
Bernardsville, NJ 07924 United States
Phone: (866) 898-4842 - Fax: (908) 204-0201
www.softnettechnology.com
***
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