Communicate.com to Sell Four URLs for US$1 Million; Retains 5% Lifetime Royalty from Sites.Business Editors/High-Tech Writers VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 27, 2003 Communicate.com Inc. ("Communicate") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CMNN) today announced that it has entered into an agreement to sell Automobile.com, Exercise.com, Body.com and Makeup makeup In the performing arts, material used by actors for cosmetic purposes and to help create the characters they play. Not needed in Greek and Roman theatre because of the use of masks, makeup was used in the religious plays of medieval Europe, in which the angels' faces .com for $1 million to Manhattan Assets, Inc., a private U.S. corporation. A non-refundable initial payment of $200,000 has been received. Communicate also announced that it will retain a five percent perpetual royalty on gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. generated from the four domains - with a guaranteed minimum monthly royalty of $10,000 - after the $1 million total purchase price has been received. Manhattan Assets, Inc. has also agreed to pay Communicate an initial $40,000 consulting fee to assist in the development of the websites. Proceeds from the sale, net of a 10% finder's fee Finder's fee A fee a person or company charges for service as an intermediary in a transaction. finder's fee The charge levied by a person or firm for putting together a deal. , will be used to accelerate the growth of Communicate's consumer goods-oriented websites, travel properties and B-to-B site, Importers.com. Online business continues to thrive despite the overall economic downturn. U.S. consumer eCommerce purchases are expected to total $95 billion this year, and networked business-to-business transactions are estimated at $2.4 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. for 2003. About Communicate: Communicate.com develops, owns and operates a network of intuitively branded eCommerce websites specializing in travel, 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 , sports/lifestyle and B-to-B (business to business). The company's premium generic one-word domains attract approximately 1 million visitors and potential customers each month without the usual marketing costs. For more information about Communicate, please visit www.cmnn.com. This news release contains "forward-looking" statements, as such 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. Because such statements include risks and uncertainties, actual results may differ from those expressed or implied herein. |
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