ICTY: 2.75 x 2.87, xmas sales up 120%
Eyecity.com Inc (ICTY)
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CURRENT NEWS
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PLAINVIEW, N.Y.--(BUSINESS WIRE)--Jan. 6, 2000-- Eyecity.com's (OTCBB: ICTY - news), a
leading online eyewear portal, today announced a record 1999 holiday gift-buying season,
with collective sales of our family of websites reaching more than $540,000 for the month
of December and a record 4th Quarter of over $1,050,000 a 120% increase over 1998 4th
Quarter sales.
biz.yahoo.com
IN SHORT
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* Eight web sites selling sunglasses, prescriptions lenses, contact lenses, binoculars,
riflescopes, sport glasses, and eyedrops.
* SEC reporting with 8,802,931 shares outstanding, 3,704,000 in the float.
* Revenues ending 9/30/99 were $1,531,159, compared to 1988's $23,469.
* They have a three year non-exclusive license from Yahoo! Inc. to use the "Yahoo!"
name and logo for eyewear and eyewear accessories.
* As of 9/30/99, EyeCity employed 42 full-time employees.
* Stock was at $10 in May 1999.
STOCK
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O/S: 8,802,931
EyeCity is authorized by its Certificate of Incorporation to issue
20,000,000 shares of common stock, par value $.001 per share, of which 8,802,931
were outstanding and held of record by 96 stockholders on November 15, 1999; and
1,000,000 shares of Preferred Stock, par value $.001 per share, of which no
shares are outstanding (collectively, the "Capital Stock"). As of November 15, 1999,
there are 96 holders of record of EyeCity's common stock and 8,802,931 shares of
common stock outstanding, of which 6,662,106 are restricted securities under the
Securities Act of 1933, as amended (the "Securities Act"). As of November 15, 1999,
the date hereof, 2,388,175 restricted securities are eligible for sale in the
public market. All executive officers and directors as a group (six persons)
own 5,098,659 of the outstanding shares.
WEB SITES
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EyeCity currently operates the following Web sites, offering the following products:
peepers.com Brand name sunglasses
eyeglassplace.com Brand name sunglasses
sunglassite.com Brand name sunglasses
abeam.com Brand name sunglasses
opticalsite.com Prescription lenses; contact lenses
binoculars.com Binoculars, telescopes, riflescopes
ergovision.com Computer glasses and eyedrops
foggles.com Sports and lifestyle glasses
CHART
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Stock has been as high as $10 in May 1999.
bigcharts.com
MARKETING PLAN
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EyeCity's marketing plan is to distinguish itself by offering the largest
variety of products, shopping convenience, ease-of-use and more advanced
technology than any current online optical retailer, an enhanced user experience
as compared to in-store purchasing, strategic partnerships with major online
retailers and portal relationships with exclusive key words to build significant
site traffic, and additional marketing strategies.
MERCHANDISING STRATEGY
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EyeCity's principal merchandising strategy is to distinguish its websites
by offering a larger and more focused selection of optical products than its
competitors. EyeCity currently carries the following merchandise lines:
* Sunglasses. EyeCity offers a wide variety of function, sport and
fashion sunglasses.
* Prescription Eyeglasses. EyeCity, through its Peepers.com and
Opticalsite.com websites, offers prescription eyeglasses to online
consumers in a wide variety of fashion frames.
* Recreational Products. EyeCity's Binoculars.com website offers an
array of brand-name vision enhancing recreational products including
binoculars, telescopes, concert glasses, night vision goggles and
riflescopes, as well as specialized eyewear for hunters and aviation pilots.
* Contact Lenses. Contact lenses can be divided into two categories,
soft lenses and hard lenses.
* EyeTools Computer Eyewear Products. EyeCity offers three different
styles of its patented EyeTools computer glasses.
UMBRELLA SUPERSITE
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eyecity.com
EyeCity's umbrella SuperSite, which is anticipated to be launched in early 2000,
is being designed to provide consumers with anattractive, easy-to-shop,
content-rich online optical shopping experience. As with a physical retail store,
online customers will be able to browse the various departments of EyeCity, search
for specific optical needs, view specially promoted products, obtain product
information, order products and obtain customer service.
YAHOO LICENSE AGGREMENT
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In addition, EyeCity recently acquired a three year non-exclusive license
from Yahoo! Inc. to use the "Yahoo!" name and logo for the distribution and
marketing of eyewear and eyewear accessories throughout the United States.
EMPLOYEES
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As of September 30, 1999, EyeCity employed 42 full-time employees.
REVENUES
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EyeCity's revenues in the nine months ended September 30, 1999 were $1,531,159 as
compared to $23,469 in the nine months ended September 30, 1998 (the "1998 Period"), an
increase of $1,507,690.
EYECITY.COM, INC.
79 Express Street
Plainview, New York 11803
(516)822-5000
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