New business strategy; new name: Enable Holdings; new stock symbol: [t]ENAB[/t].
uBid.com Holdings, Inc. Renames Holding Company 'Enable Holdings, Inc.', Launches Enable Holdings.com
Posted : Fri, 15 Aug 2008 12:02:47 GMT
Author : Enable Holdings, Inc.
Category : Press Release
Asset Recovery Leader Continues Restructuring To Facilitate New Strategy
CHICAGO, Aug. 15
CHICAGO, Aug. 15 /PRNewswire-FirstCall/ -- uBid.com Holdings, Inc. (UBHI.OB), the leading asset recovery solutions company for the world's most trusted brands, today announced it has renamed itself Enable Holdings, Inc. as part of its ongoing restructuring process. As of the opening of trading on August 13, 2008, Enable Holdings is trading under new ticker symbol ENAB.OB on the NASDAQ OTC bulletin board. As it continues to implement its new business strategy of a comprehensive, multi-channel asset recovery and inventory solutions company, Enable Holdings will serve as the holding company to five sales channels; auction Web site uBid.com, fixed-price Web site RedTag.com, business-to-business trading division Dibu Trading Corporation, offline excess inventory solution RedTag Live!, and private auction software company Commerce Innovations. For more information on Enable Holdings' sales channels and corporate structure, please visit ttp://www.enableholdings.com .
"Our new corporate structure enables us to better serve our selling partners and consumers because we're now able to place more focus on the optimization and growth of each of our five sales channels as separate entities," said Enable Holdings Chief Executive Officer Jeff Hoffman. "Each sales channel represents an integral piece of our new strategy to deliver a comprehensive, multi-channel asset recovery solution to our selling partners while allowing our savvy, price conscious customers to purchase excess inventory through a variety of mediums."
Each of Enable Holdings' five sales channels will have individualized revenue structures and separate financial reports in an effort to maximize each channel for significant future growth. The Company expects all aspects of the new business model will be fully implemented by the end of 2008 or early 2009, and that results of restructuring will start having a more profound impact on the Company and its results of operations at that time.
"With our restructuring nearly complete and our new strategic plan coming to fruition, we are now ready to become the industry leader as a comprehensive, multi-channel asset recovery and inventory solutions provider," said Hoffman. "We're extremely excited to be moving forward with our vision of the new Enable Holdings."
For more information please visit enableholdings.com
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