IRTG. Great news out and rebound in effect tomorrow should be good!
IRT Industries, Inc. Signs Letter of Intent With Thinkbid.com, Inc.
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 4, 1999--IRT
Industries, Inc. (OTC BB:IRTG), announced today it signed a Letter
of Intent to acquire award-winning Thinkbid.com, Inc.
(http://www.thinkbid.com), a leading online Internet person-to-person
auction web site where buyers and sellers auction items such as
computers, hardware, software, televisions, electronics,
collectibles, gifts, jewelry, and books.
Thinkbid.com is significantly different than other online auction
sites because it charges a nominal fee only after an item is sold. The
Company believes this is extremely important to not only wholesalers
and retailers who list entire product lines, but to individuals who
list entire households of items, without having to pay up front
charges. Other auction sites charge up to $4.00 just to list an itemfor sale.
Thinkbid's management has strategically positioned the Company to
capitalize on the explosive growth of online Internet Commerce similar
to Amazon.com (Nasdaq:AMZN), Lycos (Nasdaq:LCOS), Excite
(Nasdaq:XCIT), Infoseek (Nasdaq:SEEK), Ebay, Inc. (Nasdaq:EBAY),
America Online (NYSE:AOL) Yahoo! (Nasdaq:YHOO), and Ubid (Nasdaq:UBID).
Thinkbid.com is developing its own Internet search engine and also
plans to broadcast live auctions over the World Wide Web using a
unique free software package entitled Auction Alive based on the
software professional stock traders use to trade on the stock market.
(http://www.thinkbid.com/live.htm).
IRT Industries is pleased with the signing of this Letter of Intent
with Thinkbid.com because it positions itself within one of the most
profitable sectors of the stock market with one of the hottest,
progressive, and imaginative companies on the Internet.
IRT Industries, Inc. and Thinkbid.com, Inc. presently are in the
process of due diligence. The companies anticipate a closing withinthirty days.
NOTE: Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward-looking statements
that are subject to risk and uncertainties, including, but not limited
to, the impact of competition, continued acceptance of the company's
products and services, fluctuations in stock price and liquidity,
fluctuation operating results and other risks detailed from time to
time in the company filings with the Securities and ExchangeCommission. |
