Virtual Auctioneer Software -- DGSE Seeks To Maximize Shareholder Value
DGSE to Evaluate Alternatives for Maximizing Shareholder
Value Of Majority Interest in eye media, inc.
eye media, inc's Virtual Auctioneer Software Provides Total Auction Solutions for B2B Net
Markets
DALLAS, Dec. 20 /PRNewswire/ -- Dallas Gold & Silver Exchange, Inc. (Nasdaq: DGSE - news) today announced the formation of
a Committee of its Board of Directors which is charged with exploring alternative ways to maximize the value attributable to DGSE's
majority interest in software developer eye media, inc.
eye media, inc. develops net market solutions for the Business-to-Business (B2B) and Business-to-Consumer eCommerce
requirements of middle-market companies. In February 1999, eye media released its highly successful Virtual Auctioneer software,
which provides a complete eCommerce solution for companies utilizing the auction model for their net marketing programs. The
software allows users to easily develop full-featured auction sites on the Internet, utilizing a comprehensive tool and development
environment which addresses every auction component, from the collection of customer information to payment processing.
Virtual Auctioneer is built around a proprietary bidding engine created with the Allaire (Nasdaq: ALLR - news) Cold Fusion(TM)
development environment. The software, which provides unparalleled flexibility, customization and power, is unique in its ability to
offer customers a complete, integrated online auction product. To date, Virtual Auctioneer has been licensed to a broad range of
companies and is being used in such diverse net market auctions as the purchase and sale of oil and gas properties, retail products,
online music, overstocked inventories, and other vertical marketing and B2B activities.
``Virtual Auctioneer provides an ideal solution for B2B eCommerce transactions in closed/private marketplaces,' commented Robert
Coalter, President of eye media, inc. ``The entire site can be configured to assure authentication of entry by requiring that all bidders
and sellers must be authorized by the host of the site before they can participate. The software provides businesses with the
necessary tools to conduct targeted net market auctions and complete transactions with winning bidders on a very cost-effective
basis.'
``Virtual Auctioneer incorporates a very powerful, robust auction engine and development environment which provides B2B and
Business-to-Consumer merchants extraordinary flexibility regarding the features and eCommerce models which can be
accommodated by the software,' continued Coalter. ``We believe this open architecture eCommerce auction solution will allow eye
media to rapidly expand its net market customer base in the future.'
Recently, Rakesh Sood, a research analyst with Goldman Sachs, forecast that corporate Internet users are increasingly likely to
develop B2B electronic markets which favor Internet auctions. Mr. Sood predicted that the size of the total eCommerce market will
reach $1.5 trillion by the year 2004, versus approximately $114 billion this year.
``In our opinion, eye media is well-positioned to exploit the explosive growth potential of net auctions as an eCommerce business
model,' stated William H. Oyster, President and Chief Operating Officer of DGSE. ``eye media has been extremely pleased with its
initial success in marketing Virtual Auctioneer and with the feedback received from companies using the auction software package. In
light of our belief that eye media has exceptional potential in the eCommerce industry, our Board of Directors has elected to form a
committee to evaluate ways to assure that eye media can realize its strategic objectives and that DGSE shareholders can most
effectively participate in the value of this exciting subsidiary.'
About Dallas Gold & Silver Exchange, Inc.
Dallas Gold & Silver Exchange, Inc. wholesales and retails jewelry, diamonds, fine watches and precious metal bullion products to
domestic and international customers. A wholly-owned subsidiary, Silverman Consultants, Inc., is one of the oldest and largest
jewelry liquidation firms in the United States. In addition to its retail facilities, the Company operates live Internet auctions which can
be accessed at www.FirstJewelryAuctions.com and www.dgse.com . Real-time price quotations on over 250 precious metals are
provided on another DGSE web site at www.USBullionExchange.com. DGSE owns 60% of eye media, inc., which develops net
market solutions for the B2B and Business-to-Consumer requirements of middle-market companies.
The Company is headquartered in Dallas, Texas and its common stock trades on Nasdaq under the symbol ``DGSE'.
This press release includes statements which may constitute ``forward- looking' statements, usually containing the words ``believe',
``estimate', ``project', ``expect' or similar expressions. These statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such
differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace,
competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the
Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of this release.
Additional Information on eye media, inc. can be accessed on the World Wide Web at www.eyemedia.net . |
