1st Net Technologies and NO FEAR Announce ''Extreme'' Internet Marketing and Revenue Sharing Agreement
SAN DIEGO--(BUSINESS WIRE)--April 22, 1999--
New E-commerce Site will Introduce the Extreme Sports Market to a
Complete On-line Community and Interactive Shopping Experience
1st Net Technologies Inc. (OTCBB:FNTT) and San Diego based privately held NO FEAR(R) announced today that they have finalized a Internet Marketing and Revenue Sharing Agreement to develop an e-commerce web site (www.nofear.com) to serve the rapidly growing "extreme" sports community.
This revenue sharing Agreement is based on the companies creating a comprehensive on-line community specifically for the sales and marketing of NO FEAR(R)'s diverse product line which currently consists of over 500 different items.
NO FEAR(R) is a premier manufacturer of performance, athletic and casual products geared towards the sports of Surfing, Wakeboarding, Motorsports, Motocross, Mountain Biking and BMX. NO FEAR(R) is a privately held company at the forefront of retail marketing, targeting the "extreme" sports market.
"Sporting Goods Business" ranked NO FEAR(R) second only to Quiksilver Inc. (NYSE:ZQK) in the highly competitive Surf/California Lifestyles apparel category that also includes such notable companies as Mossimo Inc. (NYSE:MGX), and Vans (NASDAQ:VANS).
The company currently has estimated annual sales in excess of $100 million (State Of The Market report, Nov. 1998), and a worldwide marketing presence with distributors in 70 countries. NO FEAR(R) has also been named one of the Top 100 Business Phenomena of the decade by AD AGE Magazine.
"This is a tremendous opportunity for 1st Net Technologies. Make no mistake, there was stiff competition in the marketplace for the NO FEAR(R) contract and we are extremely proud that NO FEAR(R) ultimately chose 1st Net to take them into the world of e-commerce. Basically, it reaffirms the distinct belief in our business model of partnering with our clients either through strategic revenue sharing agreements or equity participation. We certainly look forward to working hand in hand with NO FEAR(R) to make significant inroads and a positive impact in this supercharged market," said Greg Writer, chief executive officer of 1st Net Technologies Inc.
Writer further added, "The demographics of this market and the business model surrounding this Agreement look extremely promising. We believe the sports lifestyle craze that has been sweeping the globe during this decade is only going to get stronger. Through our Agreement with NO FEAR(R), our ultimate goal will be to push the outer limits of human performance by utilizing the Internet to create an on-line experience that will be second to none in the industry."
1st Net Technologies Inc., has been retained by NO FEAR(R) to provide web site design, development, hosting, maintenance and marketing of a complete Internet e-commerce web site in exchange for a revenue share in all sales generated through the soon-to-be www.nofear.com.
About NO FEAR(R)
NO FEAR(R) manufactures and markets high-quality technical racing gear, casual athletic footwear, leisure sports apparel, as well as various sport posters and books. Their products are marketed primarily through selected retail accounts, as well as company-operated retail stores and at targeted sporting events.
The company's objective is to establish NO FEAR(R) as the most recognized and respected brand in sports, representing the outer limits of both intellectual and physical performance. To achieve this goal, the company plans to continue defining the motivational element of sport, and expanding its technical product interaction with the athlete.
Some world-renowned NO FEAR(R) athletes include six time AMA Supercross champion Jeremy McGrath, four time world snowboard champion, mountain biker and X-games athlete Shaun Palmer, along with Championship Auto Racing Teams Inc. (CART) (NYSE:MPH) drivers Michael Andretti, Robby Gordon and Paul Tracy. Other NO FEAR(R) athletes include World BMX champion John Purse, Surfers Sunny Garcia and Taylor Knox, NASCAR drivers Kyle Petty, Ernie Irvan, Jeremy Mayfield, and Wakeboarders Darin Shipiro and Parks Bonifey.
They continue to selectively pursue opportunities to leverage the NO FEAR(R) brand through the introduction of new products and the development of new distribution channels.
To join the NO FEAR(R) online mailing list please visit nofear.com.
About 1st Net Technologies Inc.
1st Net is an Internet products and services company specializing in the development of enabling core technologies. These technologies support a new paradigm pioneered by 1st Net called "Content Based Routing and Delivery" to control and monitor information, telephony and video services in a single platform. 1st Net also delivers innovative services for publicly traded companies and high net worth investors.
1st Net Technologies Inc. is publicly traded on the NASDAQ OTC: Bulletin Board under the symbol "FNTT |
