Adatom.com Signs Exclusive Agreement With CPTNC; Joint Venture to Form a U.S.-China ''Electronic Marketplace''.Business Editors/Technology Writers MILPITAS, Calif.--(BUSINESS WIRE)--March 23, 2000 Adatom.com, Inc. (Nasdaq:ADTM ADTM Antenna Deployment and Trim Mechanism (aerospace engineering) ) today announced the signing of an exclusive agreement with the China Product Trade Net Center (CPTNC). The CPTNC is an organization officially launched in 1997 with the support of several Chinese governmental and private institutions to enable increased sales and ensure systematic and efficient worldwide distribution of Chinese manufactured goods manufactured goods npl → manufacturas fpl; bienes mpl manufacturados manufactured goods npl → produits manufacturés . The CPTNC initiative covers both consumer and industrial goods industrial goods npl → bienes mpl de producción and aims to use Internet technology as its primary information and distribution medium. Adatom and the CPTNC will establish a joint venture company located in Beijing, China, to work directly with the CPTNC. The joint venture company will develop and implement the systems, Internet applications, services and support to enable the marketing and sale of industrial and 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 produced in China into the U.S. as well as goods produced in the U.S. into the Chinese marketplace exclusively through Adatom.com, Inc The scope of this agreement includes the establishment of an electronic business-to-business and business-to-consumer marketing, selling and distribution system with back-end factory quality and level of service standards. This electronic system will be accessible in both English and Chinese. Additional support will be provided by subsidiary CPTNC organizations including the centers for transportation, trade, Internet and method of payments. Mr. Liang Xi Liang Xi (梁習) was an officer of the Kingdom of Wei during the Three Kingdoms Period of China. Liang Xi acted as the protector of Bing in Wei. Liang Xi at one time achieved compliance from the Huns to then settle the frontier and to launch an agricultural sericulture , the President of the CPTNC stated, "We look forward to implementing and executing this venture with Adatom which affords Chinese and U.S. businesses and consumers more efficient and less costly access to products and services from the two countries. We will set up an electronic commerce system and leverage the synergy of the thousands of Chinese manufacturers, our current system and the supporting ministries organized under the CPTNC to ensure the success of this joint venture." 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] , 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. of Adatom.com, Inc., said, "With this joint venture Adatom will now have a totally vertically integrated 'electronic marketplace' for accessing and selling industrial and consumer goods and services to manufacturers, wholesalers, distributors, retailers and directly to consumers in both countries." The implementation of this joint venture is expected to take approximately 60 days based on the receipt of various Chinese business licenses and is also subject to submission of a mutually acceptable business plan. The sale of goods can begin prior to the implementation of the electronic system utilizing manual processes to transact An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting sales. About Adatom.com, Inc. Adatom.com is a fast growing e-commerce company. By leveraging its proprietary e-commerce infrastructure and efficient distribution system, the Company reaches both the business- to-business market with E-Commerce Solution Program (ESP (1) (Enhanced Service Provider) An organization that adds value to basic telephone service by offering such features as call-forwarding, call-detailing and protocol conversion. ) and the business-to-consumer market with its Internet superstore, www.adatom.com. Benefits from both its business-to-business and business-to-consumer capabilities provide price savings and increased customer service for consumers. Adatom.com offers a comprehensive product mix of name brand products for the individual, the home, and the office 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. 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. 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. The Company refers readers particularly to the Registration Statement on Form S-4 of HealthCore Medical Solutions Inc. (File No. 333-87207) filed with the Securities and Exchange Commission on (September 16, 1999). The Company recently merged with HealthCore. |
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