VANCOUVER, B.C., Jan. 11, 2002 (PRIMEZONE) -- Alphatrade.com (OTCBB:EBNK) (Frankfurt:TDR WKN 920952), the world's first streaming, multi-lingual market data provider, is announcing, effective Monday, Jan. 14, 2002, the company will trade under the symbol APTD after effecting a one-for-fifty share consolidation.
The company determined that consolidating the stock would be more advantageous to the shareholders over the long term.
"From a corporate standpoint increasing the share price provides more opportunities to attract large institutions and brokerage firms as subscribers to our E-Gate streaming stock quote service," said Penny Perfect, President of Alphatrade.com. "This move also affords us the opportunity to have a share structure more conducive to the requirements of the brokerage community for future capital investments.
"We believe that the decline in stock price and market capitalization over the past year was largely detrimental to the expansion of the company and its projected growth. In addition, the low share price has prevented the company from completing any financing due the massive dilution of shareholder value it would have caused," continued Perfect.
"As of this date the company has now positively addressed these issues and we believe this corrective action will provide us the flexibility to meet our significant growth targets for 2002. Additionally, we are working continually to increase our revenue through product enhancements, subscriber expansion and increased marketing efforts.
"Our focus on shareholder value remains steadfast and we are committed to profitability within the first half of 2002," said Perfect. "We're happy to report that our revenue in the last quarter of 2001 increased significantly from the previous quarter and we fully expect that our growth for 2002 will continue to post above average numbers."
About Alphatrade.com: AlphaTrade is the next generation of financial market data providers -- it is both cost effective and sophisticated. The real-time, streaming financial applications are designed for use by both professionals and novice investors. Aptly named E-Gate, this multilingual service is an electronic gateway to a comprehensive stock quote system that includes quotes, news, intraday and historical charts, AlphaTrade's signature product -- Level II, most active, and more.
E-Gate is designed to provide subscribers access to financial information in an easy to use format, at less cost than alternatives and with greater convenience than any product on the market today. Subscribers do not need to purchase, lease or download any software. Sign up online and access is instant. Please try a free demo at www.alphatrade.com/freetrial or visit the company's website at www.alphatrade.com or www.alphatrade-europe.de
Forward-looking Statements
Certain information contained in this press release may be deemed forward-looking statements regarding events and financial trends that may affect Alphatrade.com's future operating results or financial position. These statements may be identified by words such as "estimate," "forecast," "plan," "intend," "believe," "expect," "anticipate," or variations or negatives thereof, or by similar or comparable words or phrases. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in such statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.