MBT International's Farm Equipment Auction Now Online With $15 Million of Product.CASTLE ROCK, Colo.--(BUSINESS WIRE)--April 15, 1999-- $15 Million Of Product To Be Added Within Next 30 Days Over $4 Million Worth Of Horses Now Available Via Horse Exchange Auction MBT MBT Minimum (Spark Advance For) Best Torque MBT Masai Barefoot Technology MBT Main Battle Tank MBT Mechanical Biological Treatment (waste treatment) MBT Mercaptobenzothiazole MBT Master of Business Taxation International Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :MBTI MBTI Myers-Briggs Type Indicator ) today announced that its second online auction went live with $15 million worth of agricultural machinery Agricultural machinery is one of the most revolutionary and impactful applications of modern technology. The truly elemental human need for food has often driven the development of technology and machines. and related products. This new auction is reachable from MBTI's www.horsenet.com and www.agrimall.com, and the direct URLs "www.auctions.agrimall.com/farm_equipment" and "www.horsenet.com/mbti/farm_equipment." The Company expects to add another $15 million worth of agricultural products to this and other auctions based from its new auctions.agrimall.com website within the next 30 days. The new "auctions.agrimall.com Auction SuperSite," when fully completed, will offer a wide agricultural product range including livestock, equipment, feed products, feed grains, hay, fertilizer fertilizer, organic or inorganic material containing one or more of the nutrients—mainly nitrogen, phosphorus, and potassium, and other essential elements required for plant growth. , and vehicles though a new style of interconnected specialty auctions. The Company also intends to add the full product line, as appropriate, from its other sites, www.bookstable.com and www.lifeathome.com, to the website. This will expand its offerings to include books, videos, home improvements and other products targeted at the agricultural buyer. It is important to note that MBTI online auctions are different from almost every other online auction in that an MBTI broker represents every lot for sale. The potential buyer can contact the broker to ask specific questions about the agricultural product to get a more detailed description of the lot or to arrange for a veterinarian veterinarian /vet·er·i·nar·i·an/ (vet?er-i-nar´e-an) a person trained and authorized to practice veterinary medicine and surgery; a doctor of veterinary medicine. vet·er·i·nar·i·an n. or mechanical inspection. MBTI also provides escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. services to the buyer-seller customers. Another unique aspect of the MBTI auction is all of the products sold are broker approved and serviced -- protecting the buyer and the seller in a much more effective manner than amazon.com's $250 fraud guarantee, for example. Additionally Triplus, a Trimac Company (TSE/MSE:TMA TMA Turnaround Management Association TMA Texas Medical Association TMA Transportation Management Association TMA Training and Management Assistance (a component of OHRD, which is a component of OWR) TMA Tooling & Manufacturing Association ), is developing a large storefront web presence on the AgriMall.com site and will help facilitate the transportation and delivery of lots bought through the auctions. In addition to being a full service transportation broker, Triplus is training all of MBTI's agricultural agents on procedures to handle the freight component of the sales transactions that are conducted on the new AgriMall/HorseNet based websites. As previously noted, the AuctionBarn(TM) software developed by MBTI has no preset preset Cardiac pacing A parameter of a pacemaker that is programmed permanently when manufactured limit to the number of lots that can be online at any given time. Additionally, in order to curtail cur·tail tr.v. cur·tailed, cur·tail·ing, cur·tails To cut short or reduce. See Synonyms at shorten. [Middle English curtailen, to restrict the problem of false bidding, the Company requires a buyer's premium and pre-validates the bidder's credit card. Since an MBTI broker represents all lots for sale in an MBTI auction, MBTI buyers are protected from the false-product problems as seen by other online auction sites. Commenting on the announcement, Andy McKinnon, Chairman 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 MBTI, stated, "The Company's first auction, the Horse Exchange, which went live only a few weeks ago, has received an overwhelmingly positive response from buyers and sellers alike. We believe we have created one of the most visually helpful and easy to use auction sites available today. As a result of the need and demand for such a service, we have now added an additional $15 million worth of product to the auction and expect to add another $15 million within the next 30 days. However, this is just a fraction of the market for horses, livestock and farm equipment in today's world." MBTI has also moved its Horse Exchange Online Auction to full operational status with the addition of $4 million worth of new horses for sale. This completes the "shake-out" period of the first of MBTI's AuctionBarn modules to go online. Other auction modules for cattle, heavy industrial equipment, commodities and chemicals, home and ranch ranch, large farm devoted chiefly to raising and breeding cattle, horses, sheep, and goats. The cattle ranch was introduced from Latin America to Texas and the plains of the W United States and Canada. , and miscellaneous, will be brought online and made reachable both through the appropriate specialty website and the new auctions.agrimall.com Auction SuperSite. MBTI is the parent company of AgriMall.com (www.agrimall.com), Horsenet.com (www.horsenet.com), LifeAtHome.com (www.lifeathome.com) and Bookstable.com (www.bookstable.com). For more information on MBTI visit www.mbtinet.com/investors. Certain statements in this release are forward looking. Although MBT International, Inc. believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. For factors that may cause actual results to differ materially from expectations and underlying assumptions, see reports by MBT International filed with the Securities and Exchange Commission. |
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