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SoftNet
Technology Corporation (OTCBB: STTC) |
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IMPORTANT NEWS
UPDATE ON SOFTNET TECHNOLOGY CORP. (OTCBB: STTC)- READ TODAY'S
BREAKING NEWS BELOW!!
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Today's BREAKING
News From SoftNet Technology |
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Press Release
Source: SoftNet Technology
Corp.
Tuesday February 22, 2:30
pm ET
SoftNet Technology
Strengthens Core Business - Acquires Atlanta, Georgia-Based Indigo Technology
Services
BERNARDSVILLE, N.J.--(BUSINESS
WIRE)--Feb. 22, 2005--SoftNet Technology (OTCBB Symbol: STTC - News; German
WKN#: A0B7RZ) announced today the acquisition
of Atlanta, Georgia based Indigo Technology Services (Indigo). The acquisition
was finalized this morning making Indigo a wholly owned subsidiary of
SoftNet Technology. This acquisition further strengthens STTC's core business
focusing on Software and Technology.
Indigo is the creator of GuestWorx
High Speed Internet access. GuestWorx has been installed in over 15 hotels
including numerous Hampton Inns, Fairfield Inns, Springhill Suites and
Towne Place Suites. In addition to installing and implementing the GuestWorx
high speed wired and wireless Internet System, Indigo has signed guest
support contracts with approximately 30 Hotels Nationally. Additionally,
Indigo has installed and implemented 2 security surveillance systems for
hotel properties. A new small business IT consulting division has also
just been launched in February.
Indigo is a provider of business
technology consulting and technology products and solutions designed to
help companies integrate technology into everyday lives. Several Business
projects completed in the past year prove Indigo Technology's effectiveness
utilizing technical services and web application and network development.
Indigo installed the network and internet camera for a project to allow
Canine Assistants to remotely monitor animal kennels and research animal
behavior over the Internet. Indigo has been contracted by more than 15
client companies to manage information technology departments including:
a national appliance installations company, Summit Resources (national
auto dealership marketing firm) and Day Hospitality Group.
Just as important, Indigo
brings added technology and IT consulting services that will further enhance
and support STTC's other wholly-owned subsidiaries - WholesaleByUs (WBU)
and Solutions Technology, Inc. (STI). This new subsidiary generates about
$25,000 per month in sales with a gross profit of about 30 percent. Indigo
Technology Services expects to build revenue to more than $100,000 per
month by year-end not factoring in the growth effects on WBU and STI.
The acquisition was consummated for 6 million Class A common shares and
added incentives. Additionally, $140,000 was invested into Indigo to further
grow the company. The owners of Indigo did not receive any cash in the
transaction relying only on the future value of the Company stock.
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 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 M. Farinella
(866) 898-4842
local: (908) 204-9911
www.softnettechnology.com
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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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Other Recent News from SoftNet |
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Press
Release
Source:
SoftNet Technology Corp.
Wednesday
February 9, 9:00 am ET
SoftNet
Technology Subsidiary, WholesaleByUs, Launches Co-Branding Program
BERNARDSVILLE,
N.J., Feb. 9, 2005 (PRIMEZONE) -- SoftNet Technology (OTC BB:STTC.OB -
News) (German WKN#:A0B7RZ) announced today
that WholesaleByUs (WBU) expanded operations this week to include a new
procedure called Co-Branding. This allows other companies and even individuals
to use the WholesaleByUs software to sell WBU or their own products through
the WBU system.
WBU
will set up the Co-Brander with an account on the WBU System and provide
the Co-Brander with a list of the currently available products. By next
week, WBU will have setup and operational more than 10 Co-Branders. The
company or individual (Co-Brander) will be free to upload the WBU products
through the WBU system and onto other portals as well. Because of the
volume of sales that will be run through WBU, the Co-Brander will be able
to sell these products at a discount to what the Co-Brander would otherwise
be able to sell the products for on their own. All fulfillment will be
handled by WBU.
Additionally,
this will allow Co-Branders to upload and offer their own products for
sale through the WBU system. The benefit to the Co-Brander is that as
they upload products into the WBU system, they will instantaneously be
selling their products through numerous portals here in the United States
and internationally. WBU will be providing the largest and widest coverage
and distribution on the Internet for individuals and companies.
"We
will continue to expand the technology and software to further allow for
more varied operations of WBU. This will allow WBU to diversify its operations
and expand the products and services that WBU will be providing," stated
Mr. James M. Farinella, CEO/President of SoftNet Technology.
Please
visit our website at http://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.
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Financial Highlights For SoftNet |
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Avg Vol (3m): 1,234,998
Fiscal Year End: 12-31
Industry: Computers-Hardware
Transfer Agent: Interwest Transfer Co
Shares O/S: 77,125,469 (as of July 30, 2004) |
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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