SOFTNET Techn. (STTC.NAP) dreht gegen N
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SoftNet Technology Revises 2005 Revenue Projections Upward 100% from $3,000,000 to $6,000,000
Tuesday November 30, 10:00 am ET
BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Nov. 30, 2004--SoftNet Technology (OTCBB Symbol:STTC - News; German WKN#: A0B7RZ) is pleased to announced today that WholesaleByUs, LLC (WBU) has increased current daily and monthly sales in the United States enough for the Company to increase projected sales for Fiscal/Calendar year 2005 by 100% from $3,000,000 to $6,000,000.
The Company originally projected sales for 2005 at $3,000,000 based on sales in the United States with expansion to Europe being a contributing revenue Stream. It now appears that WBU could possibly meet the $6,000,000 level in sales from North America alone. However, STTC has many different additional aspects of the business that should add to the revenue stream in the coming year. Each new revenue stream individually added with the sales in the United States could comfortably bring SoftNet Technology to the $6 million level or higher in revenue in 2005.
WBU is looking to dramatically increase the number of products offered for sale here in the USA. The Company is planning to expand to numerous portals as well. These two factors alone could bring the revenue figures to the $6 million mark or even higher. Additionally, expansion to the European market on its own could bring sales to the new projection. Efforts are just underway to expand the product offering in Europe with products just from European suppliers. Lastly, distribution to the Canadian market is now planned for 2005 as well.
"We feel very comfortable with the new projections at this time," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "Management is at the point where we are not sure how quickly we will expand to new jurisdictions or how quickly we will expand the number of portals and products offered on each portal. How quickly we bring things online will determine if we can exceed the new revenue projections and by how much."
Please visit our website at www.softnettechnology.com for more information
Daily Commentary
Our system posted a WAIT today. The previous SELL recommendation that was confirmed was made on 12.01.2004 (6) days ago, when the stock price was 0.1800. Since then STTC has fallen -16.11% .
Well the market is a bit cold for bulls now. Our BUY-IF alert is not confirmed. It is now null and void, and it should be ignored. There are bull traps around, and it is better to avoid them. Have you already bought without waiting for the confirmation? It is OK. You may still find relatively good prices to sell your shares and cover your long positions in the next session. Try to be more patient next time, with due respect for confirmations.
What to do now? Well, the WAIT tag says all that is to say. Keep on staying short or at cash until the next signal. Do not bother yourself with any further buying or selling as long as the WAIT tag stays.
[MOTTO OF THE DAY]
When the bears are in action do not buy
Sell what you have bought and don't cry
SoftNet Technology's CEO Continues Purchases Of STTC In The Open Market - Has Now Purchased More Than 1,200,000 Shares
Wednesday December 8, 10:00 am ET
BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Dec. 8, 2004--SoftNet Technology (OTCBB Symbol: STTC - News; German WKN#: A0B7RZ) announced today that the President and CEO continues to purchase more shares of STTC on the open market. Since the week of Thanksgiving, the CEO purchased an additional 50,000 shares of STTC at prices as high as $.167. Since August 18, 2004 the CEO/President has purchased over 1,200,000 shares of STTC in the open market.
The CEO mentioned that the expansion Of WBU to the European Community expected shortly provides for optimism heading into the New Year. Unlike most retail companies that experience a drop off in sales after the Holiday Season, STTC actually expects to increase sales from December to January.
This expectation to expand to the Canadian and European markets much sooner then previously anticipated leads to better than expected results in 2005. However, a renewed excitement by STTC's CEO about the Company's other wholly owned subsidiary, Solutions Technology, is being cited as the main reason for the purchases made this week.
"The development of Wholesalebyus has been tremendous," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "However, I am just so excited by what is transpiring with the SecureTime Biometric System. The sales for the SecureTime System should really begin to accelerate in the coming year."
Form 4's have been filed as required with the SEC and can be viewed by going to the Company's website www.softnettechnology.com. Then click on the link for SEC Filings. Please visit our website at www.softnettechnology.com for more information or call the company directly at 866-898-4842 (local - 908-204-9911).
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp (STTC) may differ materially from these statement due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
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STTC Subsidiary, WholesaleByUs, Makes Adjustments to Technology - Increases Profitability
Thursday December 16, 10:00 am ET
BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Dec. 16, 2004--SoftNet Technology (OTCBB Symbol: STTC - News; German WKN#: A0B7RZ) announced today that, Wholly-owned Subsidiary, WholesaleByUs, LLC (WBU) reworks technology to drastically increase profit margins. This major development in the growth of WBU will lead to overall profitability much sooner for SoftNet Technology as a company.
Through adjustments in the technology and programming, improved placement and pricing of client products on Internet portals has been achieved. WBU will generate significantly higher profitability with fewer sales than previously needed going forward. WBU still expects to meet and possibly exceed 2005 projections. But now, these revenue figures will be achieved with much greater profitability. Further advancements will be made to the technology and the process of product placement, pricing and shipping as WBU goes through the coming year.
SoftNet Technology management had expected to make major adjustments to shipping in late 2005 as products sales in different regions reached certain levels. This is when a big jump in profitability was originally expected to occur. Softnet Technology will now hire new personnel sooner to further expand the operations of WBU. This will lead to expansion to foreign markets, more portals with more products. These new developments should lead to profitability for the overall Company much sooner. Additionally, a new WBU website with more efficient processes can now be added into the equation sooner.
"I continued my purchases of STTC stock this past week because of what I see as possible going into 2005 and 2006," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "While we were trying to grow sales quickly, we have always had our eye on profitability. To know that we have so many procedures to add in to the process as we grow just gets me so excited for the future of this Company."
