Securities Resolution Advisors Inc. Completes Acquisition of Internet Auction, Inc.WORCESTER, Mass.--(BUSINESS WIRE)--Feb. 25, 1999--Securities Resolution Advisors, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: SRAD SRAD Suzuki Ram Air Direct SRAD System Requirements Analysis Document SRAD Sleiman Research and Development (Madison, Alabama) SRAD System Requirements and Architecture Document ) ("SRAD") announced today that it has completed its acquisition of Internet Auction Inc. ("Auction Inc."). The terms of the acquisition include provisions for Auction Inc.'s management to assume the management of SRAD. Auction Inc. is a fully integrated Internet business specializing in collectibles and other memorabilia. In connection with the SRAD acquisition, Auction, Inc. consolidated its inventory and operations held by related companies. Auction Inc.'s diversified services include: Auction Inc. Division -- A public person-to-person trading community that offers sellers a vehicle for listing items for sale. Buyers can browse for items which are topically arranged and bid for through a fully automated, exciting, and easy to use online service. The Auction Inc. division is in competition with other Internet companies such as eBay Inc. (Nasdaq: EBAY), uBid Inc. (Nasdaq: UBID), 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 ), Excite Auction (Nasdaq: XCIT), and Yahoo Auction (Nasdaq: YHOO YHOO Yahoo! Inc. (NASDAQ symbol) ). The web-site is located at www.auctioninc.com. Rotman Auction Division -- A full service consignment The delivery of goods to a carrier to be shipped to a designated person for sale. A Bailment of goods for sale. A consignment is an arrangement resulting from a contract in which one person, the consignor, either ships or entrusts goods to another, the auction house, has been in business for over 20 years. Rotman Auction provides a full range of services to sellers and buyers including live on-line bidding of premier collectibles, consignment services, authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. of merchandise, digital photography, and the purchase and sale of authentic memorabilia. Richard Rotman the officer in charge of this division stated "the success of Rotman Auction has been the authentication of its merchandise and the assurance that the collectibles are genuine. In addition, we focus on offering outstanding customer service, attention to detail, and quality care to each collectible." Rotman Auction is in competition with other companies such as Sotheby's Holding Inc. (NYSE NYSE See: New York Stock Exchange : BID). The web-site is located at www.rotmanauction.com World Wide Collectors Digest Division (WWCD WWCD What Would Cthulhu Do? WWCD What Would Chuck Do? WWCD What Would Conan Do? (TV, Conan O'Brien joke) WWCD Winner Winner Chicken Dinner ) -- Established in 1994, this division is the company's premier e-commerce website for dealers in the collectibles community. WWCD's state-of-the-art software will allow clients to create online storefronts A store on the Internet that offers items for sale and is capable of handling the financial transaction online. See cybermall and digital money. , set prices, and sell directly to online shoppers. WWCD contains many facets including classifieds, live sports scores, live chats, a full listing of stadium and arenas with seating charts, directions and other pertinent information. WWCD provides online shoppers with a broad selection of unique collectible merchandise through its web-site. WWCD is in competition with other companies such as Shop At Home (Nasdaq: SATH SATH Society for Accessible Travel & Hospitality SATH Shop At Home (stock symbol) SATH Sage Thrasher (bird species Oreoscoptes montanus) SATH Society for the Advancement of Travel for the Handicapped ). The web-site is located at www.wwcd.com Internet Collectibles Division -- maintains a substantial inventory in memorabilia of popular and historical significance. "We are pleased to have consolidated various aspects of the collectible industry under one umbrella. Now online shoppers and businesses can access all the services and resources they need from one company on the Internet. We believe the more help we can provide to the seller with respect to marketing, sales, and control over their businesses, the more likely both the seller and buyer will be satisfied," added Marc Stengel, vice president of Auction Inc. This release contains 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 and Section 21E of the Securities Exchange Act of 1934. Although the company believes that the expectations reflected in the forward-looking statements and assumptions upon which forward-looking statements are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. |
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