February 19, 1999 10:39
Auction Television Network Changes Name To bidnow.com, inc.,
Stock Symbol Now BIDN
Jump to first matched term
WARMINSTER, Pa.--(BUSINESS WIRE)--Feb. 19, 1999--In a meeting held Feb. 3, 1999, shareholders
overwhelmingly approved a plan to change the name of the Auction Television Network, Inc., (OTC
BB:ATVW) to bidnow.com, inc., and change its symbol to (OTC BB:BIDN), underscoring the firm's
commitment to the Internet auction business.
The new name, bidnow.com, corresponds to the company Internet site uniform resource locator, or
so-called URL, www.bidnow.com.
In a related move, bidnow.com unveiled a new corporate logo incorporating an auctioneer's gavel streaked
across the combined words, bid and now.
"As an organization, we wanted to express our commitment to, and belief in, the power and profit potential
of the Internet," said William M. McLaughlin, bidnow's chief executive officer. "Our corporate culture, and
long term success are grounded in the strength and technological prowess of our soon-to-be-launched
Internet site."
John Ramsey, bidnow's chief technology advisor, said bidnow.com plans a rollout of an improved auction
site at www.bidnow.com, on or before March 15. "I am excited about the progress we have made on this
revolutionary software package thus far," he said.
bidnow.com bridges the worlds of television and the Internet by providing a virtual platform to link
auctioneers and bidders. bidnow.com completed testing of both the Internet and television broadcast
components of its business model late last year over the Internet and in 7.5 million test cable households.
Product manufacturers, specialty collectors or liquidators should contact corporate VPs John Loughlin
(jloughli@erols.com) or Michael Ratigan (ratigan @chesapeake.net) for more information, or to list
products for auction.
This press release contains "forward looking" statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and
uncertainties or other factors, which may cause actual results , performance or achievements expressed
or implied by such forward-looking statements. Factors that might cause such a difference include,
without limitation, decline in demand for the company's products or services, and the effect of general
economic conditions and factors affecting the Internet auction industries.
CONTACT: Virtual Financial Corp., Pompano Beach, Fla.
Jim Warner, Investor Relations, 954/783-6992
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