9/01/99 - PARATECH RESOURCES INC. BUILDS ONE-OF-A-KIND ONLINE BARTERING SITE - TRADEANDSWAP.COM
JERICHO, N.Y., Sep 1, 1999 /PRNewswire via COMTEX/ -- Paramount Financial Corporation (Nasdaq:PARA ) recently announced that its Internet Development, network integration and Information Technology subsidiary, Paratech Resources Inc., has completed the design and development of a unique new online bartering web site, TradeandSwap.com. This 100% barter site enables consumers and businesses to post items they would like to trade and make a swap for a product they would like. Unlike E-Bay, Amazon and other auction sites, TradeandSwap.com is unique in that no cash is exchanged between the two trading partners.
Paratech utilized state-of-the-art web technologies for easy, secure use. Traders must first complete a simple registration form whereby they are issued a user ID and password. Then they begin their trading experience by either browsing the vast and eclectic catalog via the site's convenient "category/sub-category" system or "search" feature to find items they want using Paratech Resources' custom developed application."
The way E-Bay changed the way people look at and use the web, TradeandSwap.com can do the same," says Stuart Belloff, Executive Vice-President and Chief Technology Officer of Paratech Resources Inc. He adds, "Barter is the original form of commerce used at the dawn of time; it is about time someone made it part of the newest Electronic Commerce!"
TradeandSwap.com's main categories include such proven Internet favorites as: Antiques; Books, Movies, Music; Coins & Stamps; Collectibles; Computers; Dolls, Figures; Jewelry, Gemstones; Photo & Electronics; Pottery & Glass; Sports Memorabilia; Toys & Beanies; and Miscellaneous. The listings are regularly update with new items added to their appropriate categories on an hourly basis.
There are no costs for making an offer on items at TradeandSwap.com. Only once a trade is made is a fee charged by TradeandSwap.com. The site provides for three different payment options: $14.95 per trade, $29.95 for unlimited trading per month, and $200 for a yearly membership of trading which provides members with valuable coupons and promotional giveaways.
A special feature Paratech's web designers developed especially for TradeandSwap.com is the "product display" option. Traders are able to post pictures of the items they are offering utilizing a sophisticated yet easy to use application engineered by Paratech's top technical staffers. Traders can download the photo, edit the picture as needed, match the image to the item being posted and then verify that the picture has been correctly posted next to its description.
To assure safe and positive trading experiences, the site provides for traders to obtain information on how to trade safely, as well as for a secured clearinghouse to which items are sent, eliminating the worry from traders as to whether or not they will receive the item for which they traded.
TradeandSwap.com has been optimized for Microsoft Internet Explorer Version 4.0 or above. For additional information, view the web site at: TradeandSwap.com or contact a Paratech Resources representative at: 516-681-0606.
Paramount Financial Corporation is a business solution provider, offering customers a wide range of integrated services including lease finance, information technology consulting, network design and implementation, and staffing services. The Company's stock is traded on the Nasdaq stock exchange under the symbol PARA.
Statements contained in this press release, which are not historical facts, are forwarding-looking statements. The forward-looking statements in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made herein contain a number of risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, but are not limited to, specific factors impacting the Company's business including increased competition; the availability of computer equipment; the ability of the Company to expand its operations and attract and retain qualified sales representatives experienced in the purchase, sale and lease of new and used computer equipment; the ability of the Company to attract and retain IT professionals skilled in specific applications; the ability of the Company to attract and retain qualified personnel in the legal staffing sector; technological obsolescence of the Company's portfolio of computer equipment; competition in the IT consulting sector and general economic conditions.
SOURCE Paramount Financial Corporation
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CONTACT: Donna M. Autuori of Autuori Corporate Communications, Inc.,
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