Wednesday June 16, 11:30 am Eastern Time
Company Press Release
iChargeit, Inc. Expands Auction Platform to Include
Industry's First Combination Auction and Barter Site
Company Will Launch Inter-Mingled Barter or Bid System
HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--June 16, 1999-- iChargeit, Inc. (OTC BB:ICHG) announced today that the Company is launching Cyberswapmeet.com, an auction site capable of providing online cash or barter auction transactions. This is in line with the Company's April 13, 1999 announcement of iChargeit's online auction site.
The Company also announced that it is unveiling a ''backroom barter'' site where private bidding and transactions can occur on an individual and confidential basis. The seller on the auction/barter platform possess the option, at the end of the bidding period, to accept either cash, services and/or merchandise as compensation for the transaction.
Jesse Cohen, CEO of iChargeit, commented, ''As an emerging industry leader, iChargeit's mission is to provide the highest quality of e-commerce and internet services available in today's marketplace. Through the new auction/barter platform, the Company is successfully 'marrying' e-commerce, auction and barter.''
''iChargeit is cognizant of the value of services and merchandise along with their importance to individuals and small businesses. The barter of merchandise or services is invaluable where there is a lack of funds, but not a lack of potential.''
iChargeit previously announced that the Company has secured funding and has contracted with Netgateway Inc. to use portions of the Netgateway Internet Commerce Center to drive the iChargeit Auction and Classified Advertising Site to be deployed in the iChargeit.com Cybermall and Virtual Arcade. The projected launch date is scheduled for July 4, 1999.
iChargeit previously announced the upcoming launch of a complete line of Internet Pay Terminals (IPT) and has entered an agreement with Leasing Group, www.leasinggroup.com, for it to provide a full suite of financial products including: financing, lease lines of credit, technology lines of credit and master leases. Businesses via an online application, through iChargeit.com, may for an investment of as little as $200.00 per month (dependent on credit worthiness), be processed and approved for an IPT lease within twenty-four hours. A full line of IPT's are available for online viewing and purchase at www.iChargeit.com. The Company's alliance with Leasing Group will provide credit qualified businesses the means to purchase any of the Company's IPT's. The Leasing Group was founded in 1988 to serve the needs of DELL Computer Corporation (NASDAQ:DELL - news), the Leasing Group partnered with CompUSA (NYSE:CPU - news), Staples (NASDAQ:SPLS - news), NEC and Micron Electronics (NASDAQ:MUEI - news).
IChargeit, Inc., is an internet based company whose iChargeit.com Cybermall and Virtual Arcade began Phase I deployment on March 1, 1999. Through a previously announced agreement with the Total Entertainment Network iChargeit will launch iChargeit Classic Games by TEN, an interactive gaming site. iChargeit also is launching traditional ISP access in 500+ Cities in the US and Canada. The Company will also offer high speed access in selected cities by month's end. iChargeit's key partners and anchor tenants include, among others, Preferred Voice International (OTCBB:PFVI - news), Winners Internet Network (OTCBB:WINR - news), Innovative Holdings and Technologies (OTCBB: IHTL - news), Pacific Medical Group (OTCBB:PMGI - news) Massimo Da Milano (OTCBB:MDMI - news) and Homecom.
Statements made in this news release that relate to future plans, financial results, market growth and other projections, events or anticipated results are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially due to a variety of factors including competitors with more resources available to them.
Contact:
iChargeit, Inc. - Huntington Beach
888-815-4390
or
Investors:
DeMonte Associates, New York
Cynthia DeMonte
or
Sean Leous
212-473-3700
cdemonte@demonte.com |
