When asked if TMRT has the money to build such a high quality and heavy feature laden Website, read again this January press release and remember Magliarditi has the business contacts and knows how to get really BIG projects completed:
(Again look for the Form 10 to be filed in a matter of days)
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2TheMart.com, Inc. Secures Funding to Complete Development of its E-Commerce and Auction Website
IRVINE, Calif.--(BUSINESS WIRE)--Jan. 22, 1999--2TheMart.com, Inc. (the ''Company'') (Nasdaq:TMRT - news), announced today in response to inquiries concerning the substance of its operations and business plan that it has secured funding for the final development of its new, state-of-the-art, E-commerce and auction website, which it expects to launch in the second quarter of 1999. The Company has secured a substantial portion of its funding through the strategic sale of some of its shares in a private placement to a select few high net worth individuals, including some found in the Forbes 400.
The Company is also in the process of finalizing engagements with a variety of consultants, including an engagement of one of the most preeminent web design and hardware firms in the world, which will enable the company to launch its Ecommerce and auction site on a fully scaleable, state-of-the art platform, able to accomodate millions of transactions. That engagement is expected to be finalized by the end of January 1999. Moreover, the Company is also finalizing its engagement of a preeminent financial and public relations firm.
Finally, the Company announced that is in final negotiations to secure 15,000 square feet of office space located in Orange County, California to house its headquarters and its initial technical facility. The Company expects to finalize those negotiations by the end of January 1999.
The Company's President, Dominic J. Magliarditi, has over ten years experience with startup and emerging growth companies. Since 1994, Mr. Magliarditi has been a principal of real estate development companies, having participated in the development of thousands of residences as well as commercial projects, including hotels. Mr. Magliarditi also has been involved in a variety of publicly traded enterprises over the past five years. From 1988 to 1994, Mr. Magliarditi practiced law in New York, NY and Las Vegas, NV, where he practiced primarily in the corporate, real estate and tax law areas. In addition to the other
existing officers and directors of the Company, Mr. Magliarditi is in discussions and negotiations with other key company personnel, including technical, financial, and key board member positions.
Certain information and statements included in this release constitute ''forward-looking statements'' within the meaning of the Federal Private Securities Litigation reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements.
Contact:
2TheMart.com, Inc.
Dominic J. Magliarditi, 949/757-1630
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