Adatom.com Signs Agreement With Premier Chinese Agricultural Center; Exclusive Agreement To Develop An Agricultural Electronic Marketplace.Business Editors/Technology Writers MILPITAS, Calif.--(BUSINESS WIRE)--May 1, 2000 Adatom.com, Inc. (Nasdaq:ADTM ADTM Antenna Deployment and Trim Mechanism (aerospace engineering) ) today announced the Company has signed a cooperative agreement with Yangling Agricultural Hi-Tech Industrial Demonstration Zone (YAHIDZ) to develop and implement a "hi-tech agricultural electronic marketplace." This is Adatom's second major joint venture agreement with a national organization in China. In March 2000, Adatom signed an exclusive agreement with the China Product Trade Net Center to establish an electronic marketplace for the sale of consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and between China and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . YAHIDZ is a Chinese agricultural organization established in 1997 by the China National State Council, the highest level of Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) (Chinese currency Currency has been used in China since the New Stone Age, in which Chinese also invented paper money in the 9th century. Today Renminbi (Chinese: 人民幣), literally People's currency, abbreviated to RMB, is the currency in mainland of the People's ), approximately $25 billion U.S. Adatom as the exclusive international partner in this effort with YAHIDZ will source, provide, market and sell industrial and consumer products, including farm machinery and equipment, seeds, fertilizer, pesticides and crops. Information and consulting services will also be provided electronically for both business-to-business and business-to-consumer markets between the United States and China.
In addition, the agreement includes two future developments:
-- To set up a Sino-American joint Yangling Agricultural Hi-Tech
Venture Capital Fund focused on funding ventures in seed
development, water-saving engines, agricultural biochemistry
engineering, botany engineering and environmental protection.
-- To establish a Sino-American agricultural hi-tech innovation
center, which will be the initiation project of the venture
capital fund.
Jun Chen She obtained her BS at Beijing University in 1990, and obtained her Ph.D. from the University of Hawaii in 1997. , Vice Director General of Yangling, stated, "We are excited about the opportunity to work with Adatom.com and the United States. Our joint venture will provide a new channel linking the two largest agricultural countries in the world. Adatom has successful experience in both Business to Business and Business to Consumer market and an established relationship with China, the largest importer of US agricultural products. This new e-commerce joint venture will certainly facilitate the upcoming explosive online agricultural market for clients in both countries." Rich Barton Richard Barton (born June 2, 1967) is an internet entrepreneur, founder of online travel company Expedia and real-estate internet company Zillow. External Links [1] , Adatom's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "This agreement continues to demonstrate Adatom's ability to deliver the present and future value of its business model, processes and technology infrastructure for e-tailing, e-commerce enablement and electronic marketplace solutions. In this case we have begun the electronic integration of the world's largest agricultural marketplace with the world's fastest growing agricultural country. This is after having recently signed an exclusive agreement to electronically integrate the flow of consumer goods between China and the United States with the China Product Trade Net Center in China." Adatom and Yangling Agricultural Hi-Tech Industrial Demonstration Zone are presently processing Chinese government requirements and plan to sign a final agreement in the summer of 2000. About Adatom.com, Inc. Adatom.com, Inc. is a fast growing, e-commerce company, which offers over three million items for the home, individual and office through its www.adatom.com website, provides e-tailing solutions for other businesses and develops and implements electronic marketplaces. By leveraging its proprietary e-commerce infrastructure and efficient distribution system, the Company reaches both the business-to-business market with its E-Commerce Solution Program (AESP AESP Aerospace Education Services Program AESP Association of Energy Services Professionals AESP Army Equipment Support Publication AESP Aboriginal Enriched Support Program (Carleton University program) AESP Advanced Energy Systems Program ) and its Global Electronic Marketmaker Solution capabilities (GEMS), and the business-to-consumer market with its www.adatom.com Web site which seeks to reduce operating costs operating costs npl → gastos mpl operacionales and provide price savings and increased customer service for consumers while providing a comprehensive product mix of name brand products in 29 product categories. Statements in this news release that are not descriptions of historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties. Words such as "expect," "intends," "believes," "plans," "anticipates" and "likely" also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. , anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission. |
|

Printer friendly
Cite/link
Email
Feedback
Reader Opinion