Bidhit.com Initiates Linux Development Program; Online Auctioneer Announces Development of Linux Category.Business Editors, High-Tech Writers BOTHELL Wash.--(BUSINESS WIRE)--Jan. 25, 2000 Bidhit.com Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BHIT BHIT Bicycle Helmet Initiative Trust (UK) )(Frankfurt:BHC BHC benzene hexachloride. BHC, ?-BHC see benzene hexachloride. ) a rapidly growing online auctioneer today announced the initiation of its Linux Development Program. The Program was kicked off with the announcement that Bidhit.com is building a significant supplier base of Linux Based Software Products, and plans to kick off a new category dedicated to Linux based hardware and software products. Today's announcement is the first step in the Company's Linux Development Program. Bidhit.com is positioning itself to be at the forefront of online auction companies providing Linux based products. &uot;The market acceptance of Linux based products is phenomenal and the ongoing development of new Linux products is fueling enormous interest at the consumer level,&uot; stated Tim Black, 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 Bidhit.com. &uot;We recognized this trend early on and have been developing a strategy that will position our Company to play a leading role in providing Linux based products through our online auction.&uot; About Linux Linux was developed in 1991 by Linus Torvalds, a Finnish student who based it on the Unix operating system Noun 1. UNIX operating system - trademark for a powerful operating system UNIX, UNIX system operating system, OS - (computer science) software that controls the execution of computer programs and may provide various services . The system has become highly reliable because of constant debugging by the open source community. Linux may be used for a wide variety of purposes including networking, software development, and as an end-user platform. Linux is often considered an excellent, low-cost alternative to other more expensive operating systems. The Linux operating system is becoming commercialized by companies such as Red Hat Software (Nasdaq:RHAT RHAT Red Hat (stock symbol) RHAT Rainwater Harvesting Association of Tanzania RHAT Register Hba Attributes ), VA Linux (Nasdaq:LNUX), TurboLinux, Corel (Nasdaq:CORL CORL Corel Corporation (stock symbol) CORL Coalition of Reef Lovers CORL capital outlay revenue limit CORL change-orientated reflective listening (psychotherapy) CORL Central Ontario Ringette League ) and others and supported by major hardware suppliers including IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) (NYSE NYSE See: New York Stock Exchange :IBM), Dell (Nasdaq:DELL), Hewlett Packard (NYSE:HP) and others. International Data Corporation states that Linux shipments will increase 25% from 1999 to 2003. This increase will more than double the growth rate for all other workstation and server systems including Windows NT and Novell. About Bidhit.com Bidhit.com is a real-time online auction company which differentiates itself from its competition by its strong customer care focus. The company provides more than 100,000 registered users with the opportunity to bid on quality brand name products in such categories as computers and peripherals, camera equipment, sporting goods, household goods, home electronics and sports memorabilia. Bidhit.com continues to grow through expansion of its solid operational infrastructure, leveraging strategic marketing relationships and focusing on customer care and protection. The Bidhit.com experience includes pre-screened vendors, secure credit card buying, live online customer service, warranty protection and extended service plans. Bidhit.com will continue to leverage this successful strategy to reach its goal of becoming one of the leading online auction brands. About the Online Auction Segment According to Forrester Research, 52% of online business is expected to be transacted via auctions by 2002, (Reported in Business 2.0, June 1999). The success of online auction sites such as eBay,Inc. (Nasdaq:EBAY), uBid,Inc. (Nasdaq:UBID) and Onsale Inc. (Nasdaq:ONSL ONSL Old North St. Louis (neighborhood just north of downtown St Louis, MO) ONSL Optical Network Simulation Layer (VPI) ONSL Organization Nationale des Syndicats Libres ) has been well documented. Bidhit.com is focused on growing its online auction presence in attracting and sharing the enormous audience for online auctions. On Behalf of the Board of Directors, Timothy J. Black, President and CEO Bidhit.com `Safe Harbor' statement under 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: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. |
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