Well Ger, once again the Truthseeker is one step ahead of conning, lying, thieving Garrett Krabman Krause
SaraOnline.com Announces Joint Venture to Create TheMovieSource.com,Its Official Entry Into Internet Retailing of Filmed Entertainment and Music
MARINA DEL REY, Calif., June 24 /PRNewswire/ -- Garrett K. Krause,
President and CEO of SaraOnline.com, Inc., an Internet focus and funding
subsidiary of Venture Banking firm Sara Hallitex Corporation
(OTC Bulletin Board: SHAL), confirms that the Company has formed a joint
venture with Video Headquarters, Inc. (Alberta: VHS) to assist in the
financing and launch of TheMovieSource.com, a company focusing on the sale and
distribution of filmed entertainment and music over the Internet. In response
to consumer demand for Internet availability of movies and music,
TheMovieSource.com will provide the least expensive and most comprehensive
source for over 60,000 filmed entertainment and top-selling music titles.
The company is headquartered in Marina Del Rey, California with operations
and distribution centers located in Wilmington, Ohio, Toronto, Ontario, and
Calgary, Alberta. The Company's e-commerce website, located at
themoviesource.com, will serve as the world's premiere e-commerce
website for low-priced new and previously viewed video (VHS), DVD and CD
products. A consumer focus group has been convened for the development of the
website. The Company anticipates that the website will debut to the public on
or around September 15, 1999.
TheMovieSource.com aims to attract a substantial following to its website
by offering product pricing that is unmatched by other e-commerce vendors such
as Amazon.com, BigStar.com and Reel.com. The website also includes numerous
community features including chat rooms, movie message boards, movie trivia
and on-line celebrity interactive interviews.
Current President and CEO, Mr. Gregg Johnson, commented,
"TheMovieSource.com intends to leverage existing strategic relationships with
suppliers to provide the consumer with the best selection at the lowest prices
available on-line today."
TheMovieSource.com has established strategic relationships with key
vendors that allow the company to provide its products worldwide. In addition
to a broad selection of products, the company will also provide a wide
selection of shipping options ranging from 3rd class mail to overnight
courier. "In many cases the VHS product will be as cheap as a rental from
your local video store and the selection of new DVD's will be better than most
traditional retailers," commented Mr. Johnson. This can all be accomplish
while maintaining favorable profit margins.
Mr. Johnson also points out that customers will enjoy the option of
purchasing products in American, Canadian or Euro currency.
TheMovieSource.com intends to create a unique niche Internet portal known
for the delivery of both low product pricing and up-to-date relevant news and
information on movies and the film industry. TheMovieSource.com will follow
on the heels of Internet pioneers such as eBay, and Amazon.com, as well as the
more recent Internet entrants, including Bid.com and Broadcast.com.
According to recent Internet surveys, the sale of filmed entertainment
comprises one of the single largest categories of dollar volume sales on the
Internet today. TheMovieSource.com intends to expand this market by making
the shopping experience more akin to an actual in-store experience.
TheMovieSource.com, in co-operation with development partners SolutionNet
International Inc. (OTC Bulletin Board: SLNN), are developing a set of
graphical interfaces that will allow a customer to browse the company's film
library in a graphical environment displayed as if the customer were in a
retail store. The customer will also have the opportunity to view select
30-second digitized trailers of movies they have chosen before making their
buying decision. The company believes that customers will embrace the many
viewing/shopping options presented to them and thus a greater number of
browsers will be converted to buyers.
TheMovieSource.com intends to file a registration statement with the
Securities and Exchange Commission for an Initial Public Offering ("IPO").
The company anticipates using the SaraIPO program for this IPO. Efforts to
prepare a registration statement are currently underway.
About SolutionNet International
SolutionNet is a development and marketing partner of Oracle, Sun
Microsystems and Algorithmic Research, a wholly owned subsidiary of Cylink
Corp. SolutionNet's proprietary E-Net-Internet Banking Solution was developed
using the Java and Oracle technology that offers versatile balance reporting,
payments, foreign exchange and trade finance modules for corporate and home
banking customers.
About SaraOnline.com, Inc. and Sara Hallitex Corporation
SaraOnline.com, Inc. was organized as the Internet focus and funding
subsidiary of the venture banking firm Sara Hallitex Corporation and will
concentrate on the development, funding and incubation of Internet-based
companies targeting this exploding industry. In focusing on Internet
properties, SaraOnline.com will operate as an independent public company
enabling Sara Hallitex Corporation to concentrate on the continued expansion
of its diversified venture banking operations while maintaining a strong
foothold in the lucrative Internet industry.
Sara Hallitex Corporation is a diversified, full service public venture
banking firm, dedicated to acquiring and investing in companies, new
technologies or projects that when fully-developed, can "spin-out" as Nasdaq
publicly traded companies, providing solid and appreciable long-term portfolio
enhancement for its shareholders.
Sara Hallitex Corporation holds substantial equity portfolios in the
following public companies: Janus International, Inc.
(OTC Bulletin Board: JNUS), SolutionNet International, Inc.
(OTC Bulletin Board: SLNN), USLab.com, Inc. (OTC Bulletin Board: ULAB), and
forthcoming SaraIPO - Tril-MediaNet.com, Inc. and SaraOnline.com. Sara
Hallitex has brought all the above companies' public through its unique
SaraIPO program.
Statements in this release are made pursuant to the 'Safe Harbor'
provisions of the Private Securities Litigation reform Act of 1995. Investors
are cautioned that such forward looking statements involve risk and
uncertainties, including without limitation, continued acceptance of the
Company's services, increased levels of competition and dependence on the
performance of the management of the company.
For more on SaraOnline.com and Sara Hallitex Corporation look to our World
Wide Web page at WWW.SARAONLINE.COM or WWW.SARAHALLITEX.COM.
Or contact: Garrett K. Krause of Sara Hallitex Corporation,
4344 Promenade Way, Suite 102P, Marina del Rey, CA 90292 Tel: 310-823-5008
(Investor Relations Dept.) Fax: 310-827-6255, Email: invrel@sarahallitex.com
SOURCE SaraOnline.com, Inc.
CO: SaraOnline.com, Inc.; Sara Hallitex Corporation; Video Headquarters,
Inc.; TheMovieSource.com; SolutionNet International Inc.; Cylink Corp.
ST: California
IN: CPR MLM REA ENT
SU: JVN
06/24/99 08:00 EDT prnewswire.com |
