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GTrade.Network, Inc. Acquires Worldwide Rights to AutoEx Exchange Server
Business Wire - May 13, 1999 11:50
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--May 13, 1999--GTrade.Network, Inc. (OTCBB: GTRD) announced today that it has acquired the exclusive worldwide licensing rights for AutoEx Exchange Server software.
The software, developed by Automation Excellence Caribe Ltd., is currently being used in international stock trading and financial settlement systems. It can be customized for specific industries, retail or wholesale, and is capable of settling transactions in any of 225 currencies.
GTrade.Network is currently developing Virtual Trade Show software, based on the AutoEx Exchange Server, which enables buyers and sellers to conduct commercial transactions over the Internet.
Virtual Trade Show operates similar to the stock market; a buyer can bid on-line for products and commodities offered by suppliers anywhere in the world. When an offer is accepted, the software completes the transaction in real time using any agreed-upon international currency. Royalties are collected on each transaction.
GTrade.Network is a venture capital firm that funds and incubates new companies with high growth potential, primarily Internet-related businesses.
This press release contains certain forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements are based on the beliefs of the Company's management as well as on assumptions made by and information currently available to the Company at the time such statements were made. Actual results could differ materially from those included in such forward-looking statements.
CONTACT: GTrade.Network, Inc.
Investor Relations Line, 301/570-6123 |
