Snap 'N' Sold Issues Progress Update
PLANTATION, Fla., Aug 17, 2005 (BUSINESS WIRE) -- Snap `N' Sold Corp. (Pink
Sheets:SNPD) issued a progress update to shareholders amid a flurry of recent
corporate activity. Company Chairman, James G. Grady, addressed the shareholders
directly with the following statement:
Dear Shareholders of Snap `N' Sold Corporation,
We have come a very long way in an extraordinarily short period of time. In late
May of this year, we set out to create a world class company by employing a
simple business concept. The idea involved taking the eBay drop store concept
and coupling it with an established asset and estate liquidation, both of which
would be run out of existing community-focused thrift, consignment, and Packing
and shipping stores that had a long-standing community presence and history of
profitability.
In just under 90 days, we have closed the acquisitions of EZ Auctions,
ezauctionsandshipping, and Thrifty Brothers We have also announced
that we will be acquiring hotautoweb.com, for which we anticipate
closing shortly. The HotAutoWeb business unit alone will bring Snap `N' Sold in
excess of $2.5 Million in trailing twelve month sales and impressive profit
margins. Additionally, we have finalized the new company name, complete with a
new CUSIP number and trading symbol and announced the new management team. All
the while, we have let shareholders know about some of the fantastic initiatives
that we have begun and products that we have listed and are selling. From the
initiation of a state-of-the-art dual retail management and eBay listing system
that will be utilized across all our stores, to listing of such high value items
as the $1.8 Million Land Fill in Indiana along with a bevy of classic cars and
other high-end conveyance, we have shown shareholders of SNPD the path we are
undertaking to attain high growth rates and profits while maintaining the
highest quality service imaginable.
We now have new updates to announce. The new global Snap `N' Sold brand was
released yesterday to the public through the placeholder on the Company website,
snapnsold.com This brand represents the company's unifying theme,
under which we acquire existing community-based bricks-n-mortar thrift stores
and packing and shipping locations and convert them into eBay drop consignment
and local asset and estate liquidation offices. We are in the process of
integrating the EZ Auctions website into the new Snap `N' Sold website which
should be completed by the first week in September. We are close to completing
the Thrifty Brothers and EZ Auctions warehouse operations into a single
location. We will be announcing the investor conference call date next week and
are in the process of selecting a new transfer agent that will facilitate total
transparency for all shareholders. HotAutoWeb continues to perform above
expectation, listing in excess of $1,000,000 in new vehicles over the past month
alone.
In summation, we hope you will remain with Snap `N' Sold to enjoy the journey we
are beginning, a journey that will be both monetarily rewarding for the Company,
its shareholders and customers while re-integrating the notion of human
interaction into our communities, online and physical alike.
Sincerely,
James G. Grady, CEO
Snap `N' Sold Corporation
About Snap `N' Sold Corp.
Snap `N' Sold Corporation is engaged in the eBay drop store industry with
competitors, Las Vegas based Net2Auction Inc. (Pink Sheets:NAUC) and Dallas
based Orbit Drop, Inc. (Pink Sheets:OBDP) and Auction Mills Incorporated (Pink
Sheets:AUML). Snap `N' Sold is managing its growth through the acquisition of
community-centered retail "thrift stores" that will continue operating in that
business while also acting as local eBay drop store "consignment centers" and
corporate and estate asset disposition offices.
SOURCE: Snap `N' Sold Corp.
CONTACT: For Snap `N' Sold Corp., Plantation
Brass Bulls, Corp.
Investor Relations:
Marc Lovito, 866-342-2700
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