DIGG news out. Hey drive carefully Jboy, you're on the road awful early today.
Digital Gas Subsidiaries Begin Operations in China
NEW YORK, Feb. 17 /PRNewswire/ -- Digital Gas, Inc. (DIGG - Pink Sheets) today announced that its newly formed
subsidiaries, Qingdao Harbor Trading Company Inc., and Digital Kommerce Network, Inc., have begun operating several
businesses in China for export-import, the Internet, and the manufacture and distribution of advanced computer systems and
networked information terminals.
The Qingdao Harbor Trading Company subsidiary of Digital Gas has signed 2-year agreements with some 100 manufacturing consumer products, electronics.
chemical and other companies to create a web-based electronic exchange. Qingdao Harbor has been named a ''most favored distributor'' and the Chinese partners
will showcase their goods and services on the new exchange.
Under the new venture, Qingdao Harbor will receive revenues from participating Internet sites and through advertising and sales on the electronic exchange. Qingdao
Harbor will also receive substantial income from direct facilitation of export and import between these Chinese companies and the West in those instances where
products and services showcased through the electronic exchange require sales and marketing persons to close the transactions. In addition, Qingdao Harbor will be
adding sales and marketing persons to its present staff to foster the growth of the new business. Qingdao Harbor has already arranged a transaction for its first
imported item from China, a revolutionary product for the kitty litter market that is completely safe for cats and the environment.
Petcetera, Inc., of Bayonne, New Jersey, a wholesaler and distributor of pet products for in excess of thirty years will distribute the new product under the name
''Litterly Amazing''. The product will be showcased at the Backers Pet Industry Spring Trade Show at Atlantic City in March. Digital Gas forecasts that the product
will earn a significant market share and will be just the first of many similar trading activities generated by qingdaoharbor.com over the coming years.
Qingdaoharbor.com will be powered by U-Know Software Corporation's leading product information search technology (shopping bot), which can be accessed at
shopbest.com. U-Know which has a 20% interest in Qingdao Harbor Trading Company is a technology company focused on unique web
merchandising solutions. U-Know Software developed one of the first comparison-shopping engines, as well as an early merchandise transaction system with an
integrated shopping cart. The product information search engine uses advanced parallel processing techniques combined with an innovative agent that provides for
true real-time results for the most accurate and up-to-date product information available. Additionally maintenance of existing sites and the integration of new sites,
along with their respective inventories are almost automatic and require no programming significantly reducing overall costs.
Robert Solomon, the President and Chief Executive Officer, of U-Know Software, said that, ''Qingdao Harbor Trading Company is taking the concepts of
shopping bots and B2Bs one step further by actively creating export-import opportunities with dramatic income potential for itself, Digital Gas and U-Know
Software from the real-time, electronic exchange.''
Digital Kommerce Network has also signed an exclusive agreement with Qingdao Abundant Dragon Products Ltd. of Qingdao, Shandong Province, PRC wherein
both parties agree to form a new corporation to manufacture and distribute advanced computer systems; ''Networked Information Terminals'' and other such
products of Digital Kommerce at facilities to be provided in Shandong Province of the Peoples Republic of China for distribution throughout China and Asia. The
goal of the venture is to build a ''next generation'' information age network that stretches across Asia and beyond.
Mr. Mao, the President and Chief Executive Officer of Qingdao Abundant Dragon confirmed his participation and confidence in this ambitious project. ''We firmly
believe that we have the ability and financial capacity needed to implement the project to the satisfaction and benefit of both sides, which shall be the first step to the
realization of our ambition to build an information network empire,'' he said.
To strengthen its business activities in China, the company has entered into a consulting agreement with the Chinese Business Services Group of Deloitte Touche
Tohmatsu based in New York. They will visit China shortly after February 28th to review the operations of Qingdao Harbor Trading Company, Digital Kommerce
Network and Qingdao Digital Gas Enhancement & Exploration Company, the company's sole foreign corporation involved in the oil & gas business in China.
The management of Digital Gas will shortly visit China to finalize negotiations on present business and to open up new business opportunities for itself and its
subsidiaries.
SOURCE: Digital Gas, Inc. |
