Auteo Media Makes Strong Entry Into California Auto Dealer Market.Business Editors SEATTLE--(BUSINESS WIRE)--June 2, 2000 Specialties Unit Captures 5% of Bay Area Dealers in Just Three Months by Providing Data Collection, Internet Exposure for New/Used Cars Auteo Media, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AUTM AUTM Association of University Technology Managers AUTM Authorised Unusable Time (Loran-C System) ), a leading provider of point-of-purchase marketing and Internet-based services to the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. , today announced strong initial results for its expansion California Dealer Specialties operation. After only three months, the California initiative, a roll out of Auteo Media's highly successful Northwest Dealer Specialties unit based in Washington State, has captured nearly 5% of the California Bay California bay n. See California laurel. Area franchised dealerships. Profitability is anticipated for the unit in early Q3 of 2000. "This news represents a major breakthrough for Auteo Media, for it is replicating our successful and highly profitable Northwest Dealer Specialty operation into the extremely lucrative California market," said Steve Van Leeuwen, President and Chief Executive Officer of Auteo Media. "The California opportunity is at least twice as large as that of Washington due to the population base and sheer number of new and used car dealerships." Auteo Media's Northwest and California Dealer Specialties business units provide data collection, digital photography, and Internet exposure for hundreds of new and used car dealerships. Currently, the operation has amassed a database of over 350,000 cars from 5,600 dealerships across the U.S. Through the program, trained Account Specialists visit dealerships on a weekly basis. Specialists record details of individual cars, take a digital picture, print point-of-purchase window labels, then place the vehicles onto top Web auto sites including Yahoo!, America Online See AOL. , and Microsoft CarPoints. In addition, the operations place cars on www.autoloco.com and www.bidthatcar.com, two e-Commerce market sites which are owned and operated by Auteo Media. The sites, which help buyers respectively locate and purchase new and used cars, greatly enhance the exposure and potential customer base for dealers. "The beauty of this business model is that we collect our fees from the dealership when the service is provided. Our revenues are not dependant upon Adj. 1. dependant upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, contingent upon, dependant on, dependent on, dependent upon, depending on, contingent the sale of the vehicle," said Van Leeuwen. The penetration of California Dealer Specialties is key to Auteo Media's business strategy, for it will pave the way for the entry of the company's forthcoming wireless and contact management systems, PocketAuto.com and ContactAuto.com, later this year. Auteo Media recently announced record revenues and profits for the first quarter of 2000, with both measures increasing over 60% compared to Q1 of 1999. The company has experienced a CAGR CAGR See: Compound Annual Growth Rate of over 50% since its founding in 1997. Cost of Goods Sold Cost of goods sold The total cost of buying raw materials, and paying for all the factors that go into producing finished goods. cost of goods sold averages approximately 11% of net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the company's services, creating a highly profitable operational environment. The company currently carries approximately $300,000 in working capital and no debt. About Auteo Media, Inc.: Auteo Media, Inc., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AUTM) is a leading provider of online data and media solutions to buyers and sellers of autos and auto accessories. Auteo Media operates Autoloco.com and Bidthatcar.com, providing one-stop convenience for consumers and dealers to locate and buy new and used vehicles and is developing Partcart.com, a OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and auto parts warehouse, Pocketauto.com and Palmauto.com, will provide auto dealers the ability to conduct online transactions at any time and anywhere, and Contactauto.com, a proprietary contact management system to help auto dealers maximize e-commerce customer interactions. Auteo Media works with more than 5000 auto dealerships, auto parts suppliers, and other commerce partners and is becoming one of the leading technology companies serving the automotive industry. For more information visit www.auteo.com. BY ORDER OF THE BOARD OF DIRECTORS "Steve Van Leeuwen" Steve Van Leeuwen, President NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). has neither approved nor reviewed the information contained herein. Some statements in the report are forward looking and are subject to certain risks and uncertainties. These risks and uncertainties include, but are not limited to, economic conditions, changes in law or regulations, demand for products and services of the company and the effect of competition. These risks and uncertainties could significantly affect anticipated results in the future and actual results may differ materially from any forward-looking statements. |
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