Read this PR on IMOT concerning the Chinese Internet market!
This is interesting. XNET runs when IMOT runs..So pay attention tommorow and look for dips.....
ibchannel.com
News March 18, 17:21 Eastern Time
IRVINE, CALIF. (March 18) BUSINESS WIRE -March 18, 1999-- IBC Focus On Profitable Web Portal's Stocks Intermost and ZiaSun
IBC Thursday reported on two profitable Internet Web Portal's this week, ChinaEcom.Net and ZiaSun.com.
ibchannel.com -- Intermost.com (Symbol:IMOT) is an Internet Phenomena -- Profitable After Only Its
Second Quarter. Intermost is aggressively blazing new growth trails in their search to bring the best of the Internet to China. Intermost is the first
U.S.-listed information technology firm from China. The company is an Internet service provider in China which owns the Chinese Web Portal
chinaecom.net and is also focused on Y2K solutions and business-to-business content hosting and maintenance. Intermost is a
market leader in providing services to large organizations and export-oriented companies. In the works are major e-commerce ventures, a
"Yahoo"-style Chinese language search engine and, in a potentially spectacular move befitting an Internet company that dares to show a profit,
Intermost is targeting their Chinese e-commerce sites toward the international market.
On sales of $140,013 for their first two quarters of operation, the company showed a profit of $4,161, or 3%, with second quarter sales up a
whopping 10% alone. As if that wasn't enough, while the company was focusing on business development, it managed to also: open two
offices, acquire a 49% interest in a foreign Y2K joint venture, begin building a Chinese language Internet search engine, and assemble the
world's largest China business database. Not bad for a company which began operations in July 1998.
With hundreds of millions of overseas Chinese only a click away, Intermost believes it can put a Chinese face on what Amazon.com
(NASDAQ:AMZN) and others have done. The difference is that Intermost intends to make a profit along the way. With their third office opened
in Beijing last month and more offices on the way, Intermost's dramatic growth potential in the world's most computer-hungry nation is attracting
new followers. If the revenue for the three months ended December 31, 1998 increased by 10%, as compared with the preceding three months,
just imagine what the future holds. No wonder so many western technology companies are knocking on Intermost's doors.
ibchannel.com -- ZiaSun Technologies (OTC:ZSUN) has acquired a diversified portfolio of
established Internet companies which are profitable and have excellent growth potential. ZiaSun is modeling CMGI's (NASDAQ:CMGI) and
Go2Net's (NASDAQ:GNET) strategy in building, investing in and acquiring leading edge technology companies and specialized internet niche
service companies. Founded in 1986, CMGI has already had the foresight to capitalize on companies such as America Online (NYSE: AOL),
Lycos (NASDAQ:LCOS), and GeoCities (NASDAQ:GCTY).
ZiaSun's portfolio of wholly owned subsidiary companies include Momentum Asia and Momentum Internet. Momentum Asia offers Internet
customer service, database management, and corollary services which back up the Internet capabilities of other ZiaSun subsidiaries, as well
as those Internet companies who are expanding into the international market. Momentum Asia's financial results show substantial increases in
revenue, earnings, and assets. Earnings for 1997 totaled $140,000, increasing to $180,000 in the first half of 1998 and $770,000 in the second
half, for an annual growth rate of over 600%. Year end assets increased from $800,000 at the end of 1997 to $3 million at the end of 1998.
Momentum Asia carries no debt of any kind.
Momentum Internet Inc., is a ZiaSun subsidiary that controls a range of Internet products and services currently operating are
swiftrade.com which is an online Brokerage firm similar to E-Trade (NASDAQ:EGRP), mfinance.com which is similar to
Marketwatch (NASDAQ:MKTW), pinmail.com which is similar to Hotmail (NASDAQ:MSFT), mediahits.com similar to
Doubleclick (DCLK) and searchdragon.com which is similar to Yahoo (NASDAQ:YHOO). Momentum Internet Inc.
momentumplus.com, achieved net profit of $325,355 on revenues of $1,013,267.
ZiaSun expects to release consolidated audits by the end of March, and confidently anticipates that earnings will exceed projections of $.11 per
share. "We are extremely pleased that Momentum Internet has achieved these results in its first full year of operation," said Anthony L. Tobin,
president and chief executive officer of ZiaSun. "Achieving profitability in the first year is a rare achievement in any technology-related
company, and we feel that this is a very positive reflection on our products and services."
swiftrade.com's exclusive arrangement with a U.S. NASD broker/dealer and clearing agent currently allows investors worldwide to
trade NYSE, AMEX, NASDAQ and OTC stocks through a direct electronic link with the exchanges. Swiftrade, with its advanced customer
service program, is the only on-line stock trading system that specializes in non-U.S. resident investors. swiftrade.com is one of the
first on-line brokerage firms with customer service centers in Asia and Europe to reach out to international investors who want to invest on U.S.
stock markets. Swiftrade's sophisticated on-line technology provides overseas investors with a direct link to the floor of all major U.S. Stock
Exchanges, ensuring flawless execution, instant confirmation of trades and accurate balances and positions. Clients are insured by the
Securities Investors Protection Corporation (SIPC) and Lloyd's of London.
Tobin said that Swiftrade would offer a truly unique on-line trading experience for investors worldwide. "No other single Internet stock trading
system that we know of allows investors anywhere to trade securities in Hong Kong or New York off one Web site," he said. Swiftrade recently
announced that it will work in conjunction with one of the most reputable Hong Kong stock brokerages in addition to one of the world's best
known financial information providers to allow investors anywhere in the world easy, efficient and inexpensive access to one of the world's most
dynamic stock markets. The Hong Kong brokerage will be the first to take advantage of Momentum's new "plug and play" software developed
for brokers to provide on-line trading in any market in the world. Swiftrade will begin offering trading on the Stock Exchange of Hong Kong, in
addition to the American markets.
Swiftrade is focusing on building a syndicate of affiliated highly trafficked online trading Web sites by providing private label solutions to
registered Broker Dealers. Swiftrade has developed a turnkey Web development solution for Brokerage Firms that want to provide global
online trading to clients as a co-branded partner. The company has launched a program that will allow brokerage houses around the world to
offer secure on-line stock trading. The program will work in almost any market and brokerage firms can elect to launch their own name branded
Web sites or join Swiftrade's on-line stock trading Web portal.
ZiaSun has opened a new Internet development facility in Manila, Philippines to access a large pool of well-educated and skilled local
technical, design and marketing talent. However, the company will not be competing in the local market. Its focus will be on the development of
Internet platforms for global on-line stock trading, Web-based e-mail applications, online auction and barter software, international financial
news delivery systems, and other activities for the expansion of Momentum's e-commerce services.
To subscribe to future reports and Internet stock buy and sell recommendations by VTAR visit ibchannel.com. IBC
urges investors to visit newsalert.com for the best news feed on the net. SEC Section 17B Disclosure: IBC has received 50,000
ZSUN shares and 40,000 IMOT shares as compensation for promotion. IBC or its affiliates may buy or sell shares in these companies. Read
the disclaimer at ibchannel.com for more information regarding the relationship between IBC and its clients. Statements in this
release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that
such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the company's services,
increased levels of competition for the company, and dependence on the performance of the management of the company.
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