BUYT - corny - Watch Out eBay - BuyIt.com Begins Trading Today
PLAYA DEL REY, Calif., Sept. 21 /PRNewswire/ -- (OTC Bulletin Board: BUYT - news) BuyIt.com, Inc. (www.buyit.com) began trading today on the OTC Bulletin Board under the symbol BUYT.
BuyIt.com was formed in 1997 and spent two years in the development and testing of its e-commerce engine until its incorporation in January 1999. The Company completed a merger into a shell corporation (Tecon, Inc.) on April 16, 1999; and the board of directors voted to change the name of the company to BuyIt.com, Inc.
BuyIt.com is currently positioning itself as the ultimate virtual exchange catering to the needs of both buyers and sellers, and allowing them to interact on all commerce levels within a user-friendly environment. The Company's main objective as a virtual exchange is to provide top-level services to its users. Plans to reach this objective involve the development of franchises globally; co-branding and white-labeling its product offerings; bringing specialty retailers to the Internet; and providing high-quality customer care.
Peter Yollin, CEO for BuyIt.com stated, ''We've worked hard to build what has become the BuyIt.com community. Between the BuyIt Auction, the BuyItMall, and our recent cash giveaways to make our newest members of the BuyIt community feel welcome, we think our shareholders will feel right at home.''
About the BuyIt Auction
The BuyIt Auction is an online person-to-person auction that was launched on June 15, 1999 after two and a half years of development and testing. It is positioned to become the premier, consumer-oriented online auction site because it offers a simple and entertaining interface for buyers and sellers to interact in an auction format. The vision for the BuyIt Auction is to develop a community of loyal users within the framework of an engaging environment that is backed by high quality, personal customer support.
About the BuyItMall
Launched on September 1, 1999, the BuyItMall has been designed to provide a virtual retail format for specialty stores to offer their products and services to consumers. To this end, merchants are able to create their own virtual store within the BuyIt framework. Each virtual store will have the same look and feel prevalent throughout the BuyIt web site so consumers will find browsing the BuyItMall easy and entertaining. Additionally, BuyIt will be providing consumers with easy and convenient access to local retailers that previously might have been difficult, if not impossible, to find online.
Safe Harbor for Forward-Looking Statements: Except for the historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings. |
