Airbomb news release!
Airbomb Achieves Record Revenues
Airbomb.com Inc (CDNX: AIR) is pleased to announce that revenues in the
first quarter ending June 30, 2000 were a record US $328,454. This
demonstrates the Company's rapid growth rate when compared to revenues of US
$ 93,119 for the first quarter of the last year and total revenues of US $
414,212 for all of last year.
"Airbomb achieved a number of milestones in the first quarter," said David
Houston, President. "The Company is continuing to grow rapidly and has
expanded on its core business strength, namely purchasing directly from
overseas manufacturers. Access to this type of supply chain buying
represents Airbomb.com's key competitive advantage and, for the first time,
it had a substantial impact on both sales and gross profit during this
quarter, " he added.
This quarter saw a growth in the Company's marketing efforts in ways
management feels offers both value and results. This included the
development of an international racing team outfitted with team uniforms, a
focused promotion of the referral program, and an expanded
password-protected business-to-business ("B2B") dealer web store. As well,
the Company entered into an agreement with Cybersurf, a major Canadian ISP,
for a large-scale promotion directly to that company's customer base.
Canadian sales have seen a corresponding jump and, at present, Airbomb.com
dominates the Canadian market for online cycling sales.
The Company has recently delivered an unprecedented number of products
ordered via B2B, including an order from Mazda USA that had over 160
different Mazda dealerships receiving bikes assembled by Airbomb.com. It is
the growth of B2B where the Company feels its competitive advantage will be
most successful.
The full text of the quarterly report can be viewed in the "Investors"
section of the Company's web store at www.airbomb.com or at
www.senategroup.com/air/acrobat/financials.htm.
About Airbomb.com Inc.
Airbomb.com Inc. is an internet retailer and distributor of mountain bikes
and related parts and accessories. The Company is unique because it has
developed strong relationships with some of the largest component
manufacturers in Asia and North America. Selling products direct from the
manufacturers to the consumers and retail dealers at wholesale prices or
less allows Airbomb.com customers significant price advantages over the
competition.
According to the World Market Report International Bicycle Statistics, 1999
Interbike Directory, the United States retail market for bicycles and
related parts and accessories is approximately USD $5.4 billion and USD $25
billion globally.
In May of this quarter, Airbomb.com re-domiciled from the Province of
British Columbia to the State of Delaware. Airbomb.com Inc. is now a United
States incorporated company, and has filed a Form 10SB registration form
with the Securities and Exchange Commission in the United States.
On behalf of the Board
"David Houston"
David Houston
President
The Canadian Venture Exchange has neither approved nor disapproved of this
news release. Certain statements contained herein are 'forward looking
statements' (as such term is defined in the Private Securities Litigation
Reform Act of 1995.) These statements are based upon the belief of the
Company's management as well as assumptions made beyond information
currently available to Company Management. Because such 'forward looking
statements' are subject to risks and uncertainties, actual results may
differ materially from those expressed or implied. Such 'forward looking'
statements include, but are not limited to, competitive factors, general
economic conditions, customer relations, relationships with Vendors,
government supervision and regulation, product introductions and acceptance,
technological changes in industry practices and other factors discussed in
filings made by the Company with the Security and Exchange Commission. |
