AutoTradeCenter.com Inc. Expands Operations.Business Editors/Automotive Writers SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 23, 2000 AutoTradeCenter.com Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AUTC AUTC Australian Universities Teaching Committee ) Tuesday announced that it will add two new offices by Sept. 1, 2000 for its wholesale operations subsidiary Auto Network Group. The new offices will be located in Houston and Hartford, Conn. AutoTradeCenter.com, with these additions, will have seven offices in six states. "Adding the Houston and Hartford markets to our existing operations brings us two steps closer to our goal of establishing a national network of physical locations," stated company President Roger L. Butterwick. "Our land-based operations have been the foundation of our business. "Our physical network complemented by our state-of-the-art, Internet-based business-to-business technology solutions uniquely positions the Company as a full service provider in the wholesale automobile industry automobile industry, the business of producing and selling self-powered vehicles, including passenger cars, trucks, farm equipment, and other commercial vehicles. ." Butterwick continued, "Our fiscal 2000 (year end March 31) revenues were generated almost entirely through our wholesale operations in Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). , New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). and, toward the second half of the year, Oregon. "We have already more than doubled the size of our operations with the addition of four offices this year. Trailing twelve month revenues are expected to at least double last year's revenues, based on the sites already opened." AutoTradeCenter.com is the leading Internet-based "business-to-business" automotive wholesale and remarketing company. On its web site, www.autotradecenter.com, the company markets its service to its national dealer base, to automotive lease and rental companies, and to banks and financial institutions across the U.S. who can use the site's many features for more efficient buying, selling and trading. The company also owns the Web site www.tradeincarsonline.com through its subsidiary BusinessTradeCenter.com Inc. TradeinCarsOnline is the first Internet Service to allow a consumer purchasing a new vehicle online to receive a firm purchase bid on his trade-in vehicle. For more information on AutoTradeCenter.com Inc., please visit www.autotradecenter.com or www.dejong.org. Statements regarding financial matters in this press release other than 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. " within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion