SoftNet Technology Corporation (OTCBB: STTC)

Attention StockUpTicks Readers:

Here's another hot-off-the-presses update on one of our hottest features in a long time - SoftNet Technology (OTCBB: STTC). You've let us know in very loud fashion that you want to be kept informed about STTC and we're listening!  OK, here's today's breaking news noting that the CEO has now purchased more than 1.2 million shares.  Now that's confidence!!! 

We also noticed what could be a "read between the lines" message in the 4th paragraph of the news release.  CEO James Farinella says "However, I am just so excited by what is transpiring with the SecureTime® Biometric System.  The sales for the SecureTime System should really begin to accelerate in the coming year."  Now it just struck me that STTC has talked constantly about massive sales increases for its other subsidiary, WholesaleByUs,  for the past few months.  Meanwhile they've hardly mentioned their SecureTime Biometric System at all.  Now all the sudden the CEO says that sales of SecureTime should really begin to accelerate.  I couldn't reach Mr. Farinella for comment quickly enough, but it sure sounds like this engine is firing on all cylinders!! 

So we are pleased to bring to you the latest news on STTC - and we will keep our ear to the ground for further details as they are released. 
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Today's BREAKING News From SoftNet Technology

Press Release 
Source: SoftNet Technology Corp.
Wednesday December 8, 10:00 am ET

BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Dec. 8, 2004--SoftNet Technology (OTCBB Symbol: STTC - News; German WKN#: A0B7RZ) announced today that the President and CEO continues to purchase more shares of STTC on the open market. Since the week of Thanksgiving, the CEO purchased an additional 50,000 shares of STTC at prices as high as $.167. Since August 18, 2004 the CEO/President has purchased over 1,200,000 shares of STTC in the open market. 

The CEO mentioned that the expansion Of WBU to the European Community expected shortly provides for optimism heading into the New Year. Unlike most retail companies that experience a drop off in sales after the Holiday Season, STTC actually expects to increase sales from December to January. 

This expectation to expand to the Canadian and European markets much sooner then previously anticipated leads to better than expected results in 2005. However, a renewed excitement by STTC's CEO about the Company's other wholly owned subsidiary, Solutions Technology, is being cited as the main reason for the purchases made this week. 

"The development of Wholesalebyus has been tremendous," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "However, I am just so excited by what is transpiring with the SecureTime Biometric System. The sales for the SecureTime System should really begin to accelerate in the coming year." 

Form 4's have been filed as required with the SEC and can be viewed by going to the Company's website www.softnettechnology.com. Then click on the link for SEC Filings. Please visit our website at 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.
 

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 December 1, 2:05 pm ET 

BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Dec. 1, 2004--SoftNet Technology (OTCBB Symbol: STTC - News; German WKN#: A0B7RZ) is pleased to announce today that WholesaleByUs, LLC (WBU) has seen a better than expected increase in daily sales for the start of the holiday season. WBU's actual sales meets projected sales figures for the month of November. But, early indications are that December should be stronger than expected. 
WBU was expecting sales for the first 15 days of December to average $8,000 to $9,000 with an increase to over $10,000 for the second half of the month. Based on these figures, sales for the month of December had been projected at $300,000. However, sales on Tuesday exceeded $14,000. Management is very optimistic about the continued increase in sales into and through the end of the year. An increase in Sales projections for December will be made only after daily sales continue to stay strong for a period of time. 

"Sales continue to increase and be stronger than management expected," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "December looks to be very strong. New expansion plans appear ready to occur sooner than expected as well. The sooner we implement the new revenue generating systems online, the quicker sales will grow." 

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.

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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