""NEWS"" December 06, 2001 08:04
CBQ to Expand Global Trade Capability with Acquisition of
Sourcelink Solutions, Inc.
PEMBROKE PINES, Fla.--(BUSINESS WIRE)--Dec. 6, 2001--CBQ, Inc. (OTCBB:CBQI)
announced today that it has acquired Sourcelink Solutions, Inc., an online trading
company based in Pembroke Pines, Florida through a Preferred Stock Issue.
Sourcelink is the first instant global access site for direct pricing, production, and delivery
of products from manufacturers worldwide. Using the Sourcelink system buyers can
quickly search and compare pricing directly from suppliers, which will save time and
increase profitability. The online virtual community created by Sourcelink already contains
805 companies, including 513 buyers and 292 purchasers. Pre-registered customers for
the Sourcelink service include Disney, ADVA-Lite, Inc., Paramount Parks, A.L. Goodies,
BMW Manufacturing Corp., UPS, Bell Industries, and Samsung Industries.
Sourcelink is a comprehensive B2B global marketplace and an e-trading hub that will
enable buyers and suppliers worldwide to log on, load products, buy products, and
receive delivery to their door without any downloading of software or any need for voice
communications. The online address for the B2B marketplace will be
www.Sourcelink.com when the new site is launched. The company will continue to handle
products off-line as well to earn revenues from its online global transaction services.
Sourcelink will execute and implement the following functions:
-- Transactions
-- Brokerage and Logistics Services
-- Custom Art and Sample Requisition Services
-- Financing Services
The Sourcelink Solution was created by Howard Ullman, an experienced international
trader based in Pembroke Pines, Florida, who has spent the last 18 years in the souvenir,
gift and promotional market with China. Mr. Ullman founded, operated, and successfully
developed Magnet World, an overseas manufacturer of magnets; Fason, an importer of
magnets; and Magnet Hut, a magnet retailer. In 1997 he established China Direct Trading
Company to broaden his product coverage into thousands of customized gift items
ranging from mugs, key chains, and glassware to hats and lapel pins. For more
information about China Direct Trading Company see www.souvenirdirect.com.
"There are online trading sites that answer part of the problem of international trading, but
Sourcelink is the first Internet site that will allow instant global access to manufacturers
all over the world," said Bart S. Fisher, Chairman of CBQ, Inc. CBQ, through its
acquisition of Sourcelink, can become the premier clicks and mortar international trading
company. Of particular importance is that Sourcelink will reduce the time required to
perform international trade by 24-48 hours as information will be stored online, and not
require time consuming exchanges of information. One of the unfortunate results of the
events of September 11 is that international trade has become frozen at many borders,
due to security concerns. Sourcelink will greatly facilitate the international trade
transaction and power the global supply chain," Fisher said.
This news release includes forward-looking statements related to CBQ, Inc. that involve
risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the
management of growth, market acceptance of certain products and other risks. These
forward-looking statements are made in reliance on the "safe-harbor" provisions of the
Private Securities Litigation Reform Act of 1995. For further information about these
factors that could affect CBQ's future results, see the company's filings with the
Securities and Exchange Commission (the "Commission"). Prospective investors are
cautioned that forward-looking statements are not guarantees of future performance.
Actual results may differ materially from management expectations.
CONTACT: CBQ, Inc.
W. Steven Garrett, 954/927-0034
or
Joan Worden Public Relations
Joan Worden, 202/337-5411 |
