Francois, call me a fool but I just bought a little more SJIG. This sell off seems overdone in the light of the press release earlier today from SJIG:
SJI Group To Launch MusicInStock.com at its New 247mall
New Online Music Retailer Launched in Agreement with Alliance Entertainment
KNOXVILLE, Tenn.--(BUSINESS WIRE)--May 19, 1999--SJI Group, Inc. (OTC BB:SJIG) today reported that, through its wholly owned subsidiary Internet Laboratories, it plans to launch the newest addition to its stable of Internet properties, MusicInStock.com, a full service online music retailer offering what it believes will be one of the broadest selections of music CD's available on the Internet (http://www.MusicInStock.com).
The Company has signed an agreement with Alliance Entertainment, considered the largest distributor of music in North America, whereby Alliance will be responsible for inventory and the fulfillment of orders, including direct shipment to consumers.
MusicInStock.com will operate as a major tenant in the Company's recently launched 247mall (http://www.247mall.com) which brings to consumers a wide variety of products and services from leading manufacturers, retailers and companies worldwide. MusicInStock.com plans to begin accepting orders on Friday, June 25, 1999.
MusicInStock.com customers will have unlimited access to the ''All-Music Guide'', the largest entertainment information database available, which includes artist biographies, artist discographies, album credits, recommendations and hyperlinks.
Commenting for Alliance Entertainment, Rob Lensman, Vice President of Sales, Customer Direct Fulfillment said ''We are very pleased about the launch of MusicInStock.com. We have been working closely with SJI Group on this project and feel that both companies will be very pleased with the results.''
Commenting further, J.D. Jenkins, Chairman and CEO of SJI Group, said, ''We believe that working with Alliance Entertainment will allow MusicInStock.com to boast one of the largest selections of music available on the Internet and should provide our music customers with the best order fill rates. As well, the inclusion of the All-Music Guide will also give consumers the ability to dig deeper into their favorite artists' legacies, thereby pointing them to the purchase of titles that might otherwise have gone unnoticed.''
''Overall,'' Mr. Jenkins added, ''we are very excited about this new project. Music is one of the biggest items purchased on the Internet and we are very hopeful that MusicInStock.com will quickly become one of the leading competitors in this rapidly growing market segment.''
Alliance Entertainment Corp. is one of the largest domestic full-service distributors of pre-recorded music, video, DVD, games and other related merchandise, and is a developer of proprietary Web sites (www.allmusic.com, www.allmovie.com, www.allgame.com) and e-commerce enabling databases.
SJI Group, Inc. is a sales and marketing organization that specializes in the development of Internet properties. SJI Group has a track record of success with the development of Internet properties. Among the sites and developments, SJI has been recognized as the first to operate a commercial Web site devoted exclusively to the sale of premium cigars, pipes and accessories. This site has generated millions of dollars in sales since it began operating. More recently, SJI Group developed and then sold an Internet subsidiary, Maverick Communications, which operated an Internet Search Engine, the Internet Sleuth (http://www.isleuth.com). SJI Group currently holds in excess of 1,000,000 shares of restricted common stock in TheBigHub.com (OTC BB:BHUB) thebighub.com , formerly known as iSleuth.com, Inc.
SJI Group, through its wholly owned subsidiary Internet Laboratories, is currently developing a reverse auction site with the nationally distributed Internet magazine, WEBBOUND. The site, CutThePrice.Com (http://www.CutThePrice.com), is scheduled for release during the third quarter of 1999. In addition, SJI Group is actively seeking to acquire existing e-commerce Internet sites.
For more information regarding SJI Group, Inc., its products and services, please visit the Company's corporate web site at sjigroup.com; its SJI Tobacco (Smokin' Joe's) web site located at sjitobacco.com; or the 247Mall at 247mall.com.
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in the press release other than historical facts are ''forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
Contact:
SJI Group, Inc., Knoxville
J.D. Jenkins, 423/584-3398 ext. 3120
jd@sjigroup.com
biz.yahoo.com
SJIG appears to have fallen on the news that BHUB has done a private placement which could contribute 4 million additional shares to the BHUB float soon. Yes that probably is true but even at $10 a shares SJIG, a profitable company in it's own right, holds $10,000,000.00 worth of BHUB.
I think I just made a great buy.
Regards, Jeff |
