AuntMinnie.com Launches Business-to-Business E-Commerce Services With Auctions of Pre-Owned Medical Imaging Equipment.Business, Technology & Medical Editors SAN DIEGO--(BUSINESS WIRE)--March 8, 2000 Partners with DB International Corp./Fair Market Value Co. to Create Auction Site with Verification & Appraisal Services AuntMinnie.com(TM), a large and fast growing online community for radiology radiology, branch of medicine specializing in the use of X rays, gamma rays, radioactive isotopes, and other forms of radiation in the diagnosis and treatment of disease. professionals worldwide, announced today the addition of equipment auction services to its Web site. This initiative brings together online buyers and sellers of pre-owned medical imaging equipment over the Internet. To ensure that the auction portion of the site is information-rich, orderly and credible, AuntMinnie.com selected DB International Corp. (DBI (DeciBel Isotropic) The measurement of gain in a directional antenna compared with a theoretical "isotropic antenna," which radiates the exact same energy in all directions. See isotropic and deciBel. ) as its partner, whose well-regarded principal, David Band, brings more than 20 years experience in pre-owned medical imaging equipment sales to the growing list of AuntMinnie.com services. "The market for pre-owned medical imaging equipment has been inefficient and fragmented but is undeniably a large, global one estimated at almost $1 billion annually," stated Mr. Band. DBI will provide verification procedures such as credit checks as well as equipment surveys for both buyers and sellers. To further facilitate transactions, DBI will also offer registered users of AuntMinnie.com appraisals of equipment through its affiliate, Fair Market Value Co. (FMV FMV - full-motion video ). In order to avoid conflicts of interests, DBI will not list any of its own inventory for sale through the AuntMinnie.com's online auction service. AuntMinnie.com's auction service will be unlike most automated auction sites on the Internet. Karen Klause, president of AuntMinnie.com noted, "To date, pre-owned medical equipment auction sites have left out the `expertise factor'. In our case, DBI's presence will help buyers and sellers assess the value and condition of the equipment being auctioned. DBI will interview both owners and bidders to help facilitate an orderly transaction for both parties." To use AuntMinnie.com's auction service, sellers list equipment for sale, along with a description of the equipment and terms of sale Terms of sale Conditions under which a firm proposes to sell its goods or services for cash or credit. , while buyers submit bids for the equipment purchase. AuntMinnie.com acts as a communications conduit conduit /con·du·it/ (kon´doo-it) channel. ileal conduit the surgical anastomosis of the ureters to one end of a detached segment of ileum, the other end being used to form a stoma on the , facilitating the transactions and leaving the final completion of the transaction up to the buyers and sellers. AuntMinnie.com expects to realize revenue by collecting transaction fees from both sellers and buyers on each completed sale. Ms. Klause went on to say, "This partnership marks AuntMinnie.com's entree into the business-to-business e-commerce segment of pre-owned medical imaging equipment purchasing. We have streamlined the purchasing process Purchasing Purchasing is the formal process of buying goods and services. The Purchasing Process can vary from one organization to another but there are some key elements that are common throughout The process usually starts with a 'Demand' or requirements enabling buyers to do their comparative shopping on a global scale. We chose DBI and FMV as our partners because they have earned the respect and credibility of our industry based upon their proven ability and long-time experience in equipment appraisal, verification and sales. By bringing this important new utility to the medical imaging community, our users have an additional level of security, as well as access to more accurate product information." Mr. Band continued, "Partnering with a leading radiology Web site like AuntMinnie.com is an ideal way for the industry and owners to reach a broader audience via the Internet, helping to create a more efficient global marketplace for pre-owned medical imaging equipment." About DB International Corp. DBI is a pre-eminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae broker of used medical imaging equipment. Its president, David Band, is the founder, past president and currently one of the executive directors of the International Association of Medical Equipment Remarketers & Servicers (IAMERS IAMERS International Association of Medical Equipment Remarketers & Servicers ), an industry group working to set standards for high quality service in the pre-owned medical imaging equipment market. DBI's affiliated company, Fair Market Value, performs appraisals on pre-owned medical imaging equipment. About AuntMinnie.com AuntMinnie.com is the premier online information, transaction and education site for all individuals affiliated with the diagnostic imaging market. Rich in timely, original content and customer-centered products and services, AuntMinnie.com enhances the professional lives of its members through interaction, participation, exchange and commerce. AuntMinnie.com is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Lumisys, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : LUMI). Additional information on AuntMinnie.com is available at www.auntminnie.com. This news release contains 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. , including statements regarding the functionality and acceptance of the auction portion of the radiology portal and the expectations as to revenue generation. These statements involve risks and uncertainties that may cause actual results to differ from those forward looking statements, including competition from other Internet sites, market acceptance by the radiology community and those risks detailed from time to time in Lumisys' reports filed with the SEC, including the annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1998 and quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended September 30, 1999. AuntMinnie.com is a trademark of AuntMinnie.com, Inc |
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