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Leading Online Investment Training Co.Online Investors Advantage Acquired by ZiaSun Technologies
SALT LAKE CITY, April 8 /PRNewswire/ -- Online Investors Advantage Inc. (www.i-advantage.com) is pleased to announce that it has been acquired as a subsidiary by ZiaSun Technologies Inc. (OTC Bulletin Board: ZSUN) (www.ziasun.com).
ZiaSun Technologies is a diversified Internet holding company consisting of two key subsidiaries with a unique synergy -- Momentum Asia and Momentum Internet. The companies use low-cost facilities and labor in the Far East to provide a full range of Internet products and services catering to Asian, European and U.S. markets.
"The addition of Online Investors Advantage to ZiaSun adheres to our mandate to develop a strong service-oriented presence in the marketplace," says Mr. Anthony L. Tobin, president and CEO of ZiaSun.
Online Investors Advantage (OIA) is a leading US company specializing in online stock trading, education and training. OIA teaches investors who wish to trade securities by computer, how to access and use the tools available on the Internet for optimum investing results.
According to a recent article published in U.S.A. Today (April 6/99), online brokerage stocks ... evidence that "point and click" investing is more than a fad, and that online brokerages which register 440,000 to 460,000 trades a day, have been steadily stealing market share from traditional full-service brokers. The article also sites from a report by Credit Suisse First Boston analyst Bill Burnham saying online trading volume rose 30% to 35% the first quarter compared with 4.9% for all trading.
As a subsidiary of ZiaSun, OIA will become an integral part of ZiaSun's infrastructure overseas working in conjunction with its established subsidiaries.
"OIA's most obvious fit, initially, is with ZiaSun's online stock trading system, SWIFTrade, which is currently bringing London and Hong Kong online," says D. Scott Elder, president of OIA. "This expedites our rate of growth well beyond what we could have accomplished in the U.S. alone. ZiaSun has a powerful synergy amongst its subsidiaries. We believe it's the next CMGI but with an international presence."
OIA is growing at an exponential rate, and is projecting 1999 revenues of $15,000,000 with $2,500,000 in earnings. Total revenue for the company's first year of operation in 1998 was $3,394,503 with a profit of $153,070. First quarter results for 1999 produced revenues of $4,440,451, with earnings of $878,805.
Online Investors Advantage, 801-229-2794, i-advantage.com
SOURCE Online Investors Advantage Inc.
CO: Online Investors Advantage Inc.; ZiaSun Technologies Inc.
ST: Utah
IN: CPR FIN MLM
SU: TNM
04/08/99 17:23 EDT prnewswire.com
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