More Good News:
BusinessWire, Friday, February 05, 1999 at 11:39
CASTLE ROCK, Colo.--(BUSINESS WIRE)--Feb. 5, 1999--MBT
International, Inc. (OTCBB:MBTI), parent company of AgriMall.com
www.agrimall.com, HorseNet.com www.horsenet.com and lifeathome.com
www.lifeathome.com, announced today that seventy-eight new storefronts
were sold and placed in development during the month of January.
"Our aggressive marketing campaign is paying dividends," stated
Andy McKinnon, CEO of MBTI. "These seventy-eight new storefronts span
the agricultural spectrum, from retailers to wholesalers, trade
publications to saddle makers, veterinarians to AM country music
stations." Based on recent results, the Company anticipates that by
year-end 1999, over 1000 storefronts will be conducting business at
AgriMall.com.
The Company also announced that approximately $2.5 million in
listings were added to the system in January. Mr. McKinnon commented
further, "Sales over the Internet and through our network of brokers
have increased 200% as compared with January, 1998. These recent
developments strengthen our belief that we are in position to dominate
the online agricultural market."
The combined value of present listings in the AgriMall.com,
HorseNet.com and lifeathome.com portals exceeds $87 million, while the
total value of listings since inception is over $110 million, with
broker sales exceeding $16 million.
MBTI's strategy is to build very strong web portals such as
AgriMall.com and become a leader in the $300 billion agricultural
industry. To accelerate the process, MBTI is evaluating highly focused
acquisitions that will further increase both the traffic and volume of
e-commerce at its AgriMall.com site. MBTI applies technologies
currently in use by online auction and marketing houses such as eBay
(NASDAQ:EBAY), Amazon.com (NASDAQ:AMZN) and uBid (NASDAQ:UBID). MBTI
is positioning itself to file an application for listing on the Nasdaq
Small Cap Market in the first half of 1999, and has engaged Arthur
Anderson as auditor.
Certain statements in this release are forward looking. Although
MBT International, Inc. believes its expectations are based on
reasonable assumptions within the bounds of its knowledge of its
business and operations, there can be no assurance that actual results
will not differ materially from its expectations. For factors that may
cause actual results to differ materially from expectations and
underlying assumptions, see reports by MBT International filed with
the Securities and Exchange Commission.
CONTACT: MBT International Inc., Castle Rock
Andy McKinnon, CEO, 403/932-1122
KEYWORD: COLORADO
INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET RETAIL
PS: I anticipate that MBTI will add more than it's projected 1000 storefronts in 1999. My model projections presume a 10% month to month growth rate in new store fronts through out the year.
Projection:
78 85 92 100 110 121 133 146 160 175 190 205 = 1400 new sites in 1999.
(In other words the monthly growth will be 3x higher at the end of the year.) |
