VFND> > > Talk about your penny with high hopes and not much else:
Looks like a tiny web designer scored a local camera shop. . .silly thing is, it will probably double on tomorrow's gap.
Thomas' moosedung.com is looking better and better each day.
VFND interent web strategy news release.. moving up today.
VirtualFund.com, Inc. Details Acquisition and
Growth Strategy for Internet Hosting, Software Tools, and Services
Revenue
MINNEAPOLIS, Dec. 30 /PRNewswire/ -- VirtualFund.com, Inc. (Nasdaq: VFND -
news), a diversified technology
company, today announced that RSPnet.com, Inc. (RSPN), the principal operating
subsidiary of its Internet/Software Business
Unit (ISBU), has launched its first large-scale electronic commerce site for an external
customer using the Company's
proprietary E-Com Tools™ software. The customer, Porter's Camera, Inc., of Cedar
Falls, Iowa, has placed its Fall/Winter
product catalog of more than 700 photography-related products on its web site (
store.porters.com ). The electronic
commerce site is hosted and serviced by RSPN and will be live on Thursday, Dec. 31.
In addition, RSPN detailed its plan to grow its revenues through a multi-tiered strategy
of systems integrator acquisitions and
sales of Internet hosting, software tools, and services. This program focuses on rapidly
building revenues by first creating a
strong Midwestern presence, and then expanding to both the West and East coasts. The
Company's approach to generating
recurring RSPN revenues relies on its ability to meet the three main requirements that
typically fulfill the needs of potential
e-commerce customers: Internet hosting, software tools, and systems integration
services.
Mel Masters, VirtualFund.com, Inc. CEO, said, ''Taken alone, each of these pieces
would allow us to play in a very lucrative
market. But together, we offer a total solution and are able to reap the benefits of
supporting a customer in all facets of their
e-commerce initiative. We are covering the entire range of needs for success on the
Internet.''
The Company has been a highly experienced software tool developer for more than 14
years. TEAM Technologies/RSPN is
an expert systems integrator that has been doing this specialized integration work for
over 20 years while building and
maintaining many long-term customer relationships with Fortune 500 companies. With
the combination of the E-Com Tools
product line, TEAM's hosting and service skills, and the RSPN business model based
on recurring aftermarket revenues, the
Company has the ability to implement its e-commerce solutions and rapidly grow RSPN
coast to coast.
Said Masters, ''We have created a sound strategic plan, and we have executed on the
initial part of it as evidenced by the
recent TEAM acquisition. The pieces are in now place to support a large number of
customers for E-Com Tools and to create
a national network of channel partners to bring those customers online. TEAM
Technologies grew by about 40% last year.
Through the TEAM acquisition and reallocation of select personnel from our Digital
Graphics Business Unit, we now have
more than 25% of our total personnel resources focused on the Internet/Software
Business Unit, which includes RSPN and
E-Com Tools. Through additional RSPN acquisitions and channel development, we
expect that number will grow to
approximately 35% during the March quarter and that up to 45% of total personnel will
be working on Internet-related
projects by June 30, 1999. RSPN is a wholly-owned subsidiary of VirtualFund.com
and is expected to have profitable
operations and positive cash flow which we intend to leverage in order to rapidly grow
sales of Internet hosting, software tools
and service revenues.'' |
