SFTYE 10QSB out
WEDNESDAY, NOVEMBER 14, 2001 5:52 PM
- Edgar Online
We had no revenue generating history prior to July 1, 1999. In August 1999, we acquired intangible assets, including customer and vendor lists, from the Distribution Product Group of Laminaire Corporation. We devoted the period from August 1999 to late 2000 developing our business plan, designing and completing an e-commerce website, establishing fulfillment systems, developing marketing tools and catalogues and establishing infrastructure. We adopted a cautious approach in implementing our strategies because the experience of other smallcap and Internet companies as well as market conditions made it obvious that further access to the capital markets would be extremely difficult. Therefore, we became increasingly committed to a strategy that does not require a high level of fixed costs or require major cash outlays to establish brand recognition. We completed an initial public offering of its common stock in February 2000.
also, from yesterday:
If the Company's stock does not satisfy Nasdaq's listing requirements, it may apply for quotation of its common stock on any other organized market or quotation system on which the common stock may be eligible for trading, such as the NASD's OTC Electronic Bulletin Board or pinksheets.com. There can be no assurance that the Company's common stock will be accepted for listing or trading on either of these quotation systems. A delisting of the Company's common stock from Nasdaq could have an adverse effect on the market price of its common stock and the ability and capacity of persons to acquire or sell shares of its common stock. |
