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Technology Stocks : tmrt/tmrte 2themart.com -- Ignore unavailable to you. Want to Upgrade?

To: Smartypts who wrote (452)	3/29/2000 1:26:00 PM
From: StockDung	Respond to of 487

2TheMart.com Enters Into Letter of Intent to Merge With GoToWorld.com IRVINE, Calif.--(BUSINESS WIRE)--March 29, 2000--2TheMart.com (OTC BB:TMRT), an Internet e-commerce company, Wednesday announced that it has entered into a Letter of Intent to merge with GoToWorld.com, Inc. ("GoToWorld.com"), the global communication super portal that pays its members to surf and shop on the Internet. 2TheMart.com will merge with GoToWorld.com. GoToWorld.com.'s portal, which currently receives more than approximately 10 million unique visitors per month, has a current registered user base of approximately 2 million users. This relationship will provide an instant base of traffic and users for the 2TheMart.com e-commerce engine. Subject to the preparation of definitive documentation and approval by each companies' respective board of directors and shareholders, 2TheMart.com will acquire all of the issued and outstanding shares of the common stock of GoToWorld.com in exchange for shares of common stock of 2TheMart.com. Pursuant to the proposed merger, Ian S. Simpson, GoToWorld.com's current chairman and CEO, will become the president, CEO and co-chairman of the board of the merged company. Steven W. Rebeil, 2TheMart.com's current CEO and chairman of the board will resign as CEO but continue as co-chairman of the board of the merged company. Additionally, Dominic J. Magliarditi, 2TheMart.com's current president, COO, CFO, secretary and a director has relinquished his positions with 2TheMart.com. 2TheMart.com is currently in the process of recruiting additional officers and directors. "We anticipate that this merger will provide our company and GoToWorld.com with a world-class Internet portal and business e-commerce solution built on one of the largest supercomputing infrastructures in the world," said Steven Rebeil, 2TheMart.com's CEO. "This will enable the combined entities to provide their business-to- business and business-to-consumer turn-key e-commerce solution to all of the world's merchants," said Rebeil. "We are excited to begin working with our new partners. With the synergy of our two companies and utilizing the supercomputer infrastructure of 2TheMart.com and the Universal Translator(R) technology of GoToWorld.com's parent company, Language Force Inc., we believe the combined new company will be well positioned to become a dominant player in the trillion dollar business-to-business global e-commerce market," said Simpson, chairman and CEO of GoToWorld.com. In an unrelated matter, Grant Thornton LLP, 2TheMart.com's current independent auditors have resigned and have been replaced with the accounting firm of Corbin & Wertz, LLP. Corbin & Wertz, LLP will serve as 2TheMart.com's ongoing independent accountant. About 2TheMart.com Founded in January 1999, 2TheMart.com is an innovative online product portal where merchant partners sell their products on a fee-per-transaction basis. Consumers are offered a vast selection of specialty and brand-name products to create a compelling one-stop-shopping destination that is next generation in product merchandising, with world-class customer care for consumers and merchants alike. With headquarters in Irvine and a satellite office in New York City, 2TheMart.com can be reached on the World Wide Web at www.2TheMart.com or by calling 949/477-1200. About GoToWorld.com GoToWorld.com is one of the fastest-growing search portals in the world, thanks to its language translation capabilities, powerful meta search engine, rich content and unique revenue-sharing arrangement with its members. GoToWorld.com members are paid by the hour while they are surfing the Web, chatting using the GoToWorld.com Browser and Instant Messenger(TM) and shopping at GoToWorld.com; in addition, each member earns a referral fee for each hour their referrals surf the Internet and chat. Members also earn a fee when their referral base shops. The referral system extends for three levels, with no limit on the total number of referrals possible. GoToWorld.com is able to pay its members because advertising revenue is shared with users when they view banner ads. Powered by proprietary Universal Translator(R) technology, GoToWorld.com expresses the corporate mission "Bringing the World Together." Founded in 1999, the company is currently privately owned and is represented by Deloitte & Touche as its accounting firm. Forward-Looking Statements Certain information and statements included in this release are intended to 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, Irvine William Wagner, 949/477-1200 bwagner@2themart.com KEYWORD: CALIFORNIA NEW YORK BW1239 MAR 29,2000 6:03 PACIFIC 9:03 EASTERN

To: Smartypts who wrote (452)	3/29/2000 1:26:00 PM
From: StockDung	Respond to of 487

Additionally, Dominic J. Magliarditi, 2TheMart.com's current president, COO, CFO, secretary and a director has relinquished his positions with 2TheMart.com. 2TheMart.com is currently in the process of recruiting additional officers and directors

To: Smartypts who wrote (452)	3/29/2000 1:47:00 PM
From: StockDung	Respond to of 487

Pursuant to the proposed merger, Ian S. Simpson, GoToWorld.com's current chairman and CEO, will become the president, CEO and co-chairman of the board of the merged company. Steven W. Rebeil, 2TheMart.com's current CEO and chairman of the board will resign as CEO but continue as co-chairman of the board of the merged company.

To: Smartypts who wrote (452)	3/29/2000 3:15:00 PM
From: StockDung	Respond to of 487

2TheMartcom's President Magliarditi, Outside Auditor Quit Irvine, California, March 29 (Bloomberg) -- 2TheMart.com, an Internet auction operator, said Dominic Magliarditi, its president, chief operating officer and chief financial officer has resigned, along with Grant Thornton LLP, its outside auditor. 2TheMart, based in Irvine, California, also said it agreed to buy GoToWorld.com Inc., an Internet Site that pays members to Web surf and shop, for an unspecified amount of stock. The company said Ian Simpson, GoToWorld's chief executive, would become president, chief executive and co-chairman of 2TheMart. With just two days remaining before the company's deadline to file its 1999 audited financial statements with the Securities and Exchange Commission, Corbin & Wertz, LLp was hired to replace Grant Thornton to conduct the audit. The company said the resignations of Magliarditi and Grant Thornton weren't related. Mar/29/2000 14:36 For more stories from Bloomberg News, click here. (C) Copyright 2000 Bloomberg L.P.

To: Smartypts who wrote (452)	3/29/2000 11:27:00 PM
From: StockDung	Respond to of 487

2TheMart's Top Executives Resign After Auditors Quit Irvine, California, March 29 (Bloomberg) -- 2TheMart.com's top two executives quit after its outside auditor resigned, citing a loss of confidence in management and a lack of adequate internal controls and management oversight. Dominic Magliarditi stepped down as president, chief operating officer and chief financial officer and Steven Rebeil quit as chief executive but remain as co-chairman. Grant Thornton LLP, the outside auditor, informed the company of its resignation a week ago, on March 22, the company said in a filing with the Securities and Exchange Commission. 2TheMart said Grant Thornton explained it would 'no longer be able to rely on management's representations.' It added that Grant Thornton also said it ``does not have adequate internal controls or the appropriate level of management or board oversight' In July, the company's first auditor, Deloitte & Touche LLP ended its relationship with 2TheMart a month after it was hired. Separately, 2TheMart said it agreed to buy Orange, California- based GoToWorld.com Inc., an Internet Site that pays members to Web surf and shop, for an unspecified amount of stock. GoToWorld, which began operations last year, said it gets about 10 million unique visitors per month and has 2 million registered users. A GoToWorld spokesman declined to provide earnings or revenue information. He said GotoWorld's Site was down today because of unusually heavy traffic. 2TheMart said Ian Simpson, GoToWorld's chief executive, would become president, chief executive and co-chairman of 2TheMart. With just two days remaining before the company's deadline to file its 1999 audited financial statements with the Securities and Exchange Commission, Corbin & Wertz, LLP was hired to replace Grant Thornton to conduct the audit. The company said the resignations of Grant Thornton and the executives weren't related. Three years ago, the Nevada Gaming Commission denied a gaming license application submitted by Magliarditi and Rebeil. It found they lied to state investigators and weren't qualified to be officers or directors of a publicly traded company. 2TheMart gained 1/16 to 4 15/16 on trading of 98,800 shares. Mar/29/2000 21:33 For more stories from Bloomberg News, click here. (C) Copyright 2000 Bloomberg L.P.