To: Steelguy who wrote (1164 ) 1/11/2000 10:34:00 PM From: Hudson Read Replies (1) | Respond to of 1249
Bridges.com sums up last three years Bridges.com Inc BIT Shares issued 9,466,250 Jan 11 close $4.65 Tue 11 Jan 2000 News Release Mr. Doug Manning reports In January, 1996, after 18 months of research and development, Bridges.com began active sales of its new Career Explorer (CX Online) resource. By the end of 1996, the company had captured 1 per cent of the middle and secondary school market in North America (392 schools), with 200,000 students accessing its CX Online Web site. Now, three years later at the end of 1999, Bridges.com provides the Career Explorer service to 13 per cent of the market (4,700-plus schools). More than 2.3 million students have access to CX Online and the company enjoyed its third straight year of over 90-per-cent rates of resubscription. "Although the board, management and staff of Bridges.com are very proud of these achievements, we expect our next three years of growth to be equally or more impressive," said Doug Manning, chief executive officer and president, Bridges.com. Bridges.com expands corporate vision In the past, Bridges.com has considered itself a provider of on-line content to schools. Recent staff goal-setting sessions have yielded an expanded corporate vision for the new millennium. The vision states, in part: "Bridges.com provides digital career and educational services to schools, post-secondary institutions, adult career service facilities and individual consumers. Our services enable individuals to create a desired future and connect to the world in meaningful ways." The complete vision is defined in the company information area of the Bridges.com Web site. Bridges.com's annual general meeting will be held on April 13, 2000, at 3 p.m. in the Grand Okanagan Room. A wine and cheese and, concurrently, a Bridges.com resource demonstration are planned for 4 p.m. Revenue recognition to align with new SEC standards With the continued focus on expansion in the U.S. market, the company will adopt recent U.S. Securities and Exchange Commission (SEC) pronouncements regarding how Internet companies report revenues. Reporting in this manner will put the company on a level playing field with how results are reported by U.S. publicly listed e-commerce/Internet companies and at the forefront with Canadian reporting issuers. Bridges.com Inc. has engaged the firm of Deloitte & Touche LLP to act as the company's auditors and professional advisers. In addition to providing auditing services, the Vancouver-based High Tech Group of Deloitte & Touche LLP will provide a range of services to support Bridges.com's business expansion in the U.S. and internationally.