Business Services Industry
www.Auctioninc.com Part of www.ktel.com Affiliates Network Program
Business Wire, Jan 22, 1999
Port Washington, N.Y.--(BUSINESS WIRE)--Jan. 22, 1999--Securities Resolution Advisors Inc. (OTC BB: SRAD) ("SRAD") announced today Internet Auction Inc. ("Auction") has been accepted in the affiliates program of K-Tel International Inc. (Nasdaq: KTEL).
Auction is to earn a commission on any orders placed by people who go to www.ktel.com from Auction's website located at www.Auctioninc.com. The company expects this to add to Auction's current revenue stream.
On Jan. 15, 1999, SRAD announced that it has entered into a letter of intent to acquire 100% of the issued and outstanding shares of Auction.
Internet Auction Inc. offers a popular person-to-person trading community on the internet, wherein sellers list items for sale and buyers are able to browse for items which are topically arranged and bid for the item through a fully automated, easy to use online service. In addition Auction has been offered selected merchandise on an outsource fulfillment basis. Auction services are in competition with other Internet companies such as eBay Inc. (Nasdaq: EBAY), Ubid Inc. (Nasdaq: UBID), and Onsale Inc. (Nasdaq: ONSL).
This release contains forward-looking statements with the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the company believes that the expectations reflected in the forward-looking statements and assumptions upon which forward-looking statements are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. See the Company's Annual Report on form 10K-KSB for additional statements concerning important factors such as demand for products, manufacturing costs and competition, that could cause actual results to differ materially from the Company's expectations.
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