OmniNet Media CEO Outlines Corporate Vision
LONG BEACH, Calif.--(BUSINESS WIRE)--May 24, 2001--"These are busy and exciting times for OmniNet Media Corp.," stated Don A. Steffens, chief executive officer of OmniNet Media (OTCBB:ONMC).
"Since my appointment as CEO in mid-January, my staff and I have been actively preparing the company to leverage the burgeoning point- of-purchase mass consumer advertising market. Several events have transpired since January, and I would like to take this opportunity to outline for shareholders the vision we plan to execute over the remainder of this year.
"As a starting point, our company name has been changed from OmniNet Media.com Inc. to OmniNet Media Corp. The necessary paperwork is concurrently being filed with all interested parties to document this change. The name change was made to more accurately reflect the company's plan to introduce wireless, point-of-purchase, wide-area network management systems into mass consumer advertising markets."
The underlying premise of OmniNet Media is to be a goal-oriented marketing-driven company with the capacity to pull together a vast network of people, technologies and partners as a means to proactively secure revenue-generating business opportunities. The primary business of the company will be to sell "high-impact" network advertising space to in-store advertisers on the company's ADHERE(TM) system network under the terms of one- to five-year noncancelable agreements.
"In support of our vision, the company is currently in preliminary discussions with three large industry partners who satisfy some or all of our requirements for network infrastructure, hardware, software, maintenance, support and several different forms of participation in the launch and rollout of the ADHERE(TM) system network," stated Steffens.
The ADHERE(TM) system network is a state-of-the-art solution that will administer, manage and publish multimedia-based information, to in-store point-of-purchase shoppers, through high-resolution plasma display panels using any combination of graphics, full-motion video, voice or print media in multilingual formats.
The company decided to target the in-store advertising market as it continues to be the most effective medium for national branding promotions; in fact, more than 70 percent of the buying decisions are being made inside the retail environment (Santella, 1999).
In support of this phenomenon, revenues in the promotion industry jumped 9.4 percent to $93.4 billion in 1999, with $14.4 billion of that amount being spent on point-of-purchase advertising alone.
The result is that stores, as well as advertisers, are actively exploring more flexible, cost-effective means to reach their target consumers without using traditional media which create clutter, block aisles and result in significant costs associated with the creation and distribution of signage, banners and banner boards.
In response to this need, OmniNet Media will introduce the ADHERE(TM) system as a clean, simple and appealing solution that brings together the shopper, advertiser and retailer for the express purpose of communicating time-sensitive product information and incentives that influence shoppers at their moment of decision.
"Our short-term action plan is to establish, expand and leverage several key technology partnerships," stated Steffens. "Once these critical partner relationships are in place, we will then advance the execution of our business plan by developing a proof-of-concept prototype, followed by a targeted beta program aimed at the supermarket industry and national advertisers."
About OmniNet Media
OmniNet Media (OTCBB:ONMC), a Nevada corporation, is an emerging leader in the provision of wireless advertising and information delivery networks that leverage proven mass market distribution channels using the latest in point-of-purchase, wireless network, plasma display panel, multimedia content delivery and data warehouse server technologies.
This news release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risk, uncertainties or other factors that could cause actual results to materially differ from the results, performance or expectations implied by these forward-looking statements. The issuer's expectations, among other things, are dependent upon general economic conditions, continued demand for its products, the availability of raw materials, and retention of its key management and operating personnel, as well as other uncontrollable or unknown factors.
CONTACT:
Integritas Consulting Inc., Minneapolis
Phil Flynn, 800/392-7961
ir@omninetmediacorp.com (e-mail) |
