parts.com, Inc. Responds to Recent Stock Volatility
29 January 2000
Stock Price Plunges From $35 to $18 in Just DaysSANFORD, Fla. -- parts.com, Inc. (formerly Miracom Corporation) (OTC Bulletin Board: MIRM), a business-to- business e-commerce parts exchange, addressed the volatility of the trading activity of the Company's common stock. parts.com stock opened at about $35 on Monday, January 24th, and closed at $18 on Friday, January 28th. "Management of parts.com knows of no reason why the Company's common stock experienced volatile movements in price the last few days. The Company's fundamentals and business prospects are as strong as ever," said Shawn Lucas, Chairman and Co-CEO. Mr. Lucas continued, "As a direct result of our recent strong showing at the NADA convention in Orlando, and the industry's acceptance of our product, we continue to receive executed contracts and the related annual territory fees into our office. We believe that we are delivering on our proposed business model." About parts.com parts.com provides a business-to-business e-commerce solution for the $600 billion auto parts industry. The site is designed to create value for participants throughout the supply chain, including manufacturers, distributors and parts buyers, as a result of its unique, direct business model which eliminates a number of inefficient links in the supply chain inherent in the auto parts business. parts.com's technology and logistics plan enable parts suppliers to deliver their product more quickly and cost effectively than through traditional distribution channels. parts.com was officially launched on January 23, 2000 at the National Automobile Dealers Association's (NADA) annual conference in Orlando, Florida.