LOS ANGELES, Nov. 12, 2004 (PRIMEZONE) -- In an interview with IPOdesktop, James M. Farinella, CEO of SoftNet Technology (OTCBB:STTC) (German WKN#:A0B7RZ) said, "Our recent growth in large part is driven by WholesaleByUs's web-based, application server based software system." He commented further that...
RECENT IPO's FOCUS INVESTOR ATTENTION
-- Google's IPO focused investor attention on the growth of the
overall search engine marketplace.
-- Shopping.com's IPO helped focus investor attention on comparison
shopping search
STTC's WholesaleByUs management believes their process cuts through the shopping search clutter to bring, in many cases, the lowest Internet-based retail price.
With a rule-driven, web-based, application server based software system
-- WholesaleByUs connects manufacturers and distributes to Internet
buyers
-- Effectively eliminating many dealers and other distributors.
Product descriptions and prices are mass uploaded by WholesaleByUs to
-- eBay as a 'buy it now' item and to -- Amazon
Product descriptions and prices are also uploaded to WholesaleByUs's web site
http://www.softnettechnology.com , click on 'wholesalebyus'
Upon order receipt, products are ordered from a manufacturer's or distributor's inventory usually within a day. Products are generally shipped to the buyer with three days of order receipt. If an item is out of stock, the buyer's money is refunded immediately by WholesaleByUs.
INTEGRATING WITH COMPARISON SHOPPING SEARCH ENGINES
STTC's management believes that comparison shopping search engines, such as
-- Google's http://froogle.google.com -- Yahoo's http://shopping.yahoo.com -- Shopping.com's http://shopping.com
will start to access products and descriptions from the WholesaleByUS web site, increasing WholesaleByUs's Internet exposure.
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