Showstar Online.com Signs Letter Of Intent To Co-Develop And Deploy
"E"Check Transaction Technology
NEW YORK, Jan 21, 2000 (BUSINESS WIRE) --
(OTC BB:ABID)
Showstar Online.com, Inc. (OTC BB: ABID) announced today that the
Company and SoftCare EC.Com, Inc. have signed a Letter of Intent to
establish an exclusive collaborative effort to co-design an integrated
e-business solution for Showstar's e-commerce flagship portal
Artstar.com. SoftCare will deploy its proprietary eCheck transaction
technology and "OpenEC" software products as a base and develop
additional software specific to the project's requirements. A formal
agreement, outlining details of the contract, licensing terms, costs,
payment schedules, roles and project scope, will be completed and
announced within 45 days.
Showstar will enter into a revenue sharing arrangement with SoftCare
that will split ongoing project revenue to cover SoftCare's software
licenses and software development, in addition to deployment and
operational fees. The revenue percentage share will be negotiated based
on SoftCare's contribution to the project.
SoftCare will be responsible for selection, development, deployment and
operation of the electronic commerce solution for its part of the
Showstar e-Business application. Showstar will be responsible for the
integration of its e-commerce software, business development, sales,
marketing, finance and operations of the business initiative.
"SoftCare's technology on both the business to business (B2B) level and
check transaction capability in conjunction with e-commerce platforms
will give Showstar an unparalleled competitive advantage in the
vertical art market and will lend itself to the rapid advancement of
our technology on third party portals," said John Punzo, President and
CEO of Showstar Online.com, Inc. "SoftCare provides Showstar with an
exciting opportunity to offer an un-paralled e-commerce solution and
back-end transaction services.
Martyn Armstrong, President & CEO of SoftCare stated, "Showstar has
created one of the few true portals on the Internet in its Artstar.com
website. By working together, our complimentary technologies will allow
Showstar to capture a tremendous amount of revenue by providing
artists, galleries, museums and suppliers access to technology that
would have been far too expensive to implement independently while
giving art lovers the most flexible and secure transaction processing
to date. There are few companies that have the creative drive, vision
and the capability of delivering like Showstar. We are very excited to
be working with them on this project."
ABOUT SHOWSTAR ONLINE.COM Showstar Online.com, Inc. (OTCBB: ABID), is a
premier developer of Internet websites and e-commerce solutions. The
Company has established a unique and scalable e-commerce infrastructure
by developing and integrating several leading edge technologies.
Showstar will design each of its unique websites to provide
information-enriched content that is directed at lucrative vertical
target market segments. The Company's flagship website property is
Artstar.com.
ABOUT SOFTCARE EC.COM SoftCare develops business relationship
management software allowing companies to conduct business to business
e-commerce and the creation of B2B industry portals. SoftCare's
e-business management software is open and scalable allowing for the
integration with existing and future technologies, lowering operating
costs and streamlining the supply chain while delivering benefits to
all business e-trading relationships.
Contact Information:
The Company: Pubic Relations Lindsay Malcolm Neale-May and Partners
Investors Relations Officer Diahann Reyes 1-877-422-2243(ABID)
1-650-328-5555x264 lmalcolm@showstar.com dreyes@nealemay.com
Financial Relations FOCUS Partners LLC Julie Glen/Mona Walsh
1-212-752-9445 abid@focuspartners.com
"Safe Harbor" Statement Under The Private Securities Litigation Reform
Act of 1995: The statements in this press release that relate to the
Company's expectations as to risks, in regard to the future impact on
the Company's material results, are forward-looking statements. These
forward-looking statements include terminology such as "premier" and
new products in development, and are subject to risk factors such as
competition, management of growth, financing, and other risk factors
within the meaning of the Private Securities Litigation Reform Act of
1995. The results anticipated by any or all of these forward-looking
statements may not occur.
Artstar.com is a trademark of Showstar Online.com. All other trademarks
are trademarks and properties of their respective owners.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Showstar Online.com
Lindsay Malcolm, Investor Relations Officer
877/422-2243 (ABID)
E-mail: lmalcolm@showstar.com
or
Pubic Relations
Neale-May and Partners
Diahann Reyes, 650/328-5555 ext. 264
E-mail: dreyes@nealemay.com
or
Financial Relations
FOCUS Partners LLC
Julie Glen/Mona Walsh, 212/752-9445
E-mail: abid@focuspartners.com
WEB PAGE: businesswire.com
GEOGRAPHY: NEW YORK
INDUSTRY CODE: INTERNET
ENTERTAINMENT
E-COMMERCE
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