Looks like some substantial NEWS driving the market today.
Safe Technologies International Announces Growth Plans For Millennium
PR Newswire, Thursday, July 01, 1999 at 10:50
PALM BEACH, Fla., July 1 /PRNewswire/ -- Safe Technologies International,
Inc., (BB: SFAD) announced today an overview of the Company's
plans to grow the Company into the new Millennium and to increase shareholder
value. Brad Tolley, Vice President of Investor Relations, reported, "This
announcement will provide an outline of the five areas in which management has
been focusing, and, currently, in process of implementing. We intend to make
subsequent individual comprehensive announcements regarding each phase within
the near future."
The Company is making substantial upgrades to its E-Commerce endeavors,
within its mall -- INCybermall.com. The mall, currently housing "Cybermalls
Castle" and "The Famous Shopping Streets of the World," will become a "mall of
malls." Two new niche product malls will be added shortly.
SFAD is currently reviewing and in talks with several companies regarding
acquisition of their existing Internet franchise businesses. They hope to
acquire a company which will help grow their wholly owned subsidiaries,
Internet Associates International, Inc., (IAI) and Internet Commerce, Inc.
(ICI). This will effectively expand the sales and marketing force nationally
without having to create a national sales force.
The Company is realigning and expanding its office locations, enabling IAI
and ICI technophiles, to be housed in the same location in Boca Raton,
Florida. Enhancing communication between the two companies, with a San
Francisco-type, hip, open office plan, will promote dialog among employees,
and help provide improved customer service. Also, more closely integrating
these different, yet congruous, Internet companies, will better enable the
technophiles to help determine the critical path of SFAD. The Company is
currently entering into a lease for additional office space in Lake Worth,
Florida, and is looking forward to expanding office locations on the east and
west coast, as soon as possible.
The Company is currently interviewing investment banking firms to co-
lead/manage for the next several important years. They are looking for firms
that really understand their core businesses and which have the necessary
analysts to support and help move us forward.
The Company is currently in talks regarding SFAD's Nasal Aspirin Patent
with a Texas-based Biotech Company, with a history of funding new medical
products including several new patents which appear to have significant merit.
Tolley concluded the overview by saying, "Our underlying infrastructure
should allow the Company to become pervasive and attain profitability, much
quicker than most Internet companies. Some of our competitors have great
valuations, but no one knows when they will reach 'profitability.' With the
two fronts of Internet operations and Biotech, we believe SFAD has a
phenomenal future for the new Millennium."
Forward-Looking Statements: Except for the historical information
contained herein, this news release may contain forward-looking statements
within the meaning of Section 27A of the Securities Act of l934, as amended,
that may involve risks and uncertainties, including those relating to the
availability of suitable financial resources, the availability of management,
unproven market for SFAD's products and services as well as other risks
detailed from time to time in the Company's SEC reports, including reports on
Form 10KSB for the year ended December 31, 1998.
SOURCE Safe Technologies International, Inc.
-0- 07/01/99
/CONTACT: Brad Tolley, VP Investor Relations of Safe Technologies
International, Inc., 561-832-2700, or e-mail,
investor.relations@safetechnologies.com /
/Web site: safetechnologies.com /
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