HouseHold Direct Retains OTC Financial Network to Lead Comprehensive Investor Relations Campaign
ATLANTA, July 10 /PRNewswire/ -- HouseHold Direct.com, Inc. (OTC Bulletin Board: BYIT - news). HouseHold Direct announced today that it has retained OTC Financial Network, a division of National Financial Communications of Needham, Massachusetts, to lead a comprehensive financial communications and shareholder relations campaign. The Company is implementing the campaign after the successful completion of its acquisition of Family Savers, Inc., a multi-million dollar national buying club, which has paved the way for its migration to the operational stage.
``HouseHold Direct is at a critical juncture in its corporate history. With the acquisition of Family Savers it has become a fully-operating, revenue- producing entity, on the path to profitability,'' stated Geoffrey J. Eiten, president of National Financial Communications. ``Management's ability to turn the Company around in a short period of time despite a sluggish overall market environment validates its business acumen and savvy acquisition strategy. It is also an excellent indication to investors and other interested parties that HouseHold Direct is a viable business with strong prospects for growth.''
Guided by its investment banking advisory firm, Hartsfield Capital Group, and empowered by a $10 million funding commitment, the Company is pursuing additional industry acquisitions, and planning for the expansion of Family Savers through the near term development of multiple satellite feeder clubs.
By maximizing revenues from existing operations and expanding into outlying geographical regions, the Company expects to increase top-line revenues two to three fold within a year, and achieve profitability on a cash flow basis as early as fourth quarter, 2001. The central club and streamline satellite feeder centers will form the basic hub and spoke business structure to be replicated within the Company's franchise strategy, which is presently under development by the prestigious iFranchise Group, projected for implementation in 2002. The ultimate objective is the evolution of a diverse and highly profitable centralized network comprised of corporate owned and franchised wholesale buying clubs under the unified HouseHold Direct banner.
To present the unique and compelling story of HouseHold Direct, OTC Financial Network will provide a full suite of financial communications and shareholder relations services, including the introduction of the Company to consumer products industry analysts and institutions, as well as to local, trade and national media. NFC will also help the Company develop, maintain and grow a following comprised of retail and institutional investors, and enhance the relationship between the Company and its following through a regime of quarterly conference calls. NFC will conduct an aggressive press release campaign to disseminate the Company's news in an effective and timely manner to the financial community, and will further increase the visibility of the Company by arranging participation in a variety of trade shows and exhibitions.
Stephan Lovett, President of Hartsfield Capital Group stated: ``HouseHold Direct has taken the first step to consolidate an industry which has operated independently at the local level with little, if any, national presence. Its goal to expand its reach through demonstrated customer satisfaction is an aggressive, but achievable expression of its growth strategy. It is always satisfying to see a company that we have fostered succeed and we are confident this positive trend will continue.''
About HouseHold Direct
The mission of HouseHold Direct is to empower consumers by creating the largest private wholesale shopping network in the world. HouseHold Direct is focused on becoming the dominant and only publicly-traded company to represent the presently fragmented industry of independently operated private buying clubs. The Company is pursuing a consolidation and expansion initiative, which ties the acquisition of regionally strategic buying clubs into the implementation of a national franchise program. The resulting network of corporate owned and franchised clubs will be connected through a web platform to centralize administrative functions and enhance the flow of goods and services. Membership, franchising and transactional fees will form the growing revenue base behind the enterprise. Central to the success of this initiative is the ability to offer each member a deeply discounted manufacturer-direct pricing model, extensive product information, convenient order fulfillment, in-home delivery and quality customer support. This superior personalized shopping environment and consumer experience creates the compelling incentive to join the network and underscores the Company slogan: ``live much better for much less''.
About OTC Financial Network
OTC Financial Network is a division of National Financial Communications Corp. (NFC). Headquartered in Needham, Massachusetts, NFC is a full-service financial communications and investor relations firm that specializes in small-cap companies. NFC operates from four independent affiliate offices in California, Oregon, Colorado and Florida. The Company offers its services to companies listed on all major exchanges in addition to the over-the-counter markets, and is a past recipient of the Bulldog Award for Excellence in Media Relations and Publicity. For more information on NFC, visit www.nationalfc.com.
CONTACT: E-mail: infohhd@HouseHoldDirect.com
Web Site: Corporate Profile - householddirect.com
CONTACT: Rick McCaffrey, Investor Relations at OTC Financial Network
Toll Free: 888-244-7862 (ext. 621) or 781-444-6100 (ext. 621),
www.otcfn.com/byit or E-mail: rick@otcfn.com
CONTACT: Investor Relations - SmartStockAdvisor.com
E-mail: smartstockadvisor@yahoo.com
CONTACT: Stephan Lovett, President - Hartsfield Capital Group, Inc.
770-408-9000
OTC Financial Network, a division of National Financial Communications Corporation, serves as special advisor to the featured Company and has received fees for services. This is not an offer to buy or sell securities. Information or opinions in this release are presented solely for informative purposes, and are not intended nor should they be construed as investment advice.
Forward-looking statements in this release are made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
SOURCE: HouseHold Direct
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