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I think RBID has a unique strategy for potential success in ecommerce. I wonder how many companies have all of the following: an ISP with web and ecommerce site hosting as well as site design, an upcoming online auction site, an online mall, and an established marketing infrastructure of 15,000 reps. As I see it, there is a lot of potential synergy among all these components and the company gets a cut for every store that goes online. What do others think? Their last announcement is shown below. Thursday April 15, 8:45 am Eastern Time Company Press Release SOURCE: Rbid.com, Inc. Rbid.com Announces Its Name and Symbol Change are Official; Rbid.com Will Now Begin Promoting Its On-Line Auction and Shopping Mall LAGUNA HILLS, Calif., April 15 /PRNewswire/ -- Rbid.com, Inc. (OTC Bulletin Board: RBID - news), formerly GCST CORP, announced today that as an established Internet Service Provider (ISP) and internet-commerce organization in the U.S. and Canada, it has officially changed its name to Rbid.com, Inc. and trading ticker symbol to RBID. These new changes will be in effect at the open of today's trading (Thursday April 15, 1999). The name and corresponding ticker change was implemented in order to clearly denote the company's core business focus: internet commerce -- with the on-line auction at the heart of its operations. The company was eagerly awaiting this formal change to be recognized by the Nasdaq and is now ready to begin rolling out an ambitious advertising and promotional program. According to the company's President, Peter J. Ferras, ''We have been holding back on any type of promotional efforts until this was finalized. With this official announcement, we are now ready to begin telling the world about Rbid.com.'' The company is strategically positioning itself as a leader in Internet Access Services (www.rway.net), On-line Shopping Services (www.rmall.com) and On-line ''Live'' Auction Services (www.rbid.com) that will attempt to aggressively compete head on with major players in this realm such as EBAY, Inc., UBID Inc., Onsale Inc., and Amazon.com. Peter J. Ferras explains, ''We are positioning Rbid.com on the launching pad of some of the Internet's most exciting products and services and this name change is important to us as we set out to build a strong world-wide name recognition. In the coming weeks we will offer merchants and consumers revolutionary Internet products and services meeting the high demand in the marketplace in the online auctions and shopping areas. Our recent partnership agreements and alliances will bring us over 15 million new members, merchants and customers that will quickly boost Rbid.com's position as a major player in the Internet Access, On-line Shopping and Auction business. Based on the company's current marketing model, we expect to have strong 2nd, 3rd and 4th quarter revenues and profitable operations. We are proud to forecast a profit in a market where profits are usually not synonymous with the Internet.'' Certain statements contained herein contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Such Statements include, without limitation, statements regarding business and financing plans, business trends and future operating revenues and expenses. Although the Company believes that the expectations reflected in such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, and similar expressions which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance, and that the actual results of factors, including, but not limited to, the Company's ability to fully implement its business plan, may vary. SOURCE: Rbid.com, Inc. -------------------------------------------------------------------------------- | ||||||||||||
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